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[QUOTE]Originally posted by Jay the Obscure: [QB] [QUOTE]Originally posted by Tora Ziyal: [qb] [QUOTE]Originally posted by David Sands: [qb] As for the libertarian critique, I hope the increased majorities, a clear win in the popular vote, and the constitutional limitation on third terms will allow Bush the room to reign in discretionary spending, farm subsidies, tarriffs, and runaway Social Security liabilities. Who knows? Maybe the dominance by one side will discredit divided government as a spending-limitation forever. Here's to hope! [/qb][/QUOTE]Well, good old George already had a Republican Congress during the last term, and the spending increased more in his first 4 years than during Clinton's two terms. What's changed? If anything, the fact that he can't have a third term gives him the license to spend as much as he wants without worry of re-election. [/qb][/QUOTE][URL=http://story.news.yahoo.com/news?tmpl=story&cid=544&e=11&u=/ap/20041103/ap_on_go_pr_wh/debt_ceiling]This[/URL] should interest you. [QUOTE]White House: Debt Ceiling Must Be Raised Wed Nov 3,12:54 PM ET By MARTIN CRUTSINGER, AP Economics Writer WASHINGTON - The Bush administration announced Wednesday that it will run out of maneuvering room to manage the government's massive borrowing needs in two weeks, putting more pressure on Congress to raise the debt ceiling when it convenes for a special post-election session. Treasury Department (news - web sites) officials announced that they will be able to conduct a scheduled series of debt auctions next week to raise $51 billion. However, an auction of four-week Treasury bills due to be completed on Nov. 18 will have to be postponed unless Congress acts before then to raise the debt ceiling. "Due to debt limit constraints, we currently do not have the capacity to settle our four-week bill auction scheduled to settle on Nov. 18," Timothy Bitsberger, acting assistant Treasury secretary for financial markets, said in a statement.[/QUOTE] [/QB][/QUOTE]
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