and that's to keep spending ever increasing amounts of money to buy votes. That's why the federal budget has doubled since the 1970s even allowing for inflation. It doesn't matter if you're talking about Democrats or Republicans, almost all of them, when push comes to shove, will vote for increased spending. That's why, despite claims of budget surplus, the national debt kept right on rising year after year even during the late 1990s. You don't buy many votes by paying off the debt, that's why few politicans do more than just give the idea lip service. Nope, you'll get more votes by bringing home the bacon.
The issue of raising the debt ceiling comes up every few years regular as clockwork. For example, here's an article on the topic from 1996.
There are several reasons why the deficit has grown so sharply lately. Overall, the economy began slowing down in 2000, reducing the growth in revenues. The tax cuts enacted so far total about $40 billion, but the increased spending is a lot more. Some of that comes as aftershocks from September 11th, like the $20 billion given to New York City, the multi-billion dollar airline bailout, the cost of the war ($1+ each month), plus a dramatic rise in pork spending. Gotta buy them votes!
Current Events » in reply to Taxing, spending, and fiscal responsibility.
There's really only one dominent political philosophy in DC
