By a voice vote, the Senate Finance Committee today approved legislation to raise our country’s debt limit by $850 million. This comes a day after the Senate approved its version of the Fiscal Year 2008 Transportation and Housing and Urban Development appropriations bill, which is $3.1 billion more than President Bush’s request. Nothing more sends the message that we need to cut spending than our having to increase the federal debt limit.
It’s time this Congress and the Democratic leadership put two and two together to reduce spending, not increase it.
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