Bad Idea

"I thought it over, and putting the American at economy in grave peril once a year would solve all my issues, so I figure, let's do it six times a year."

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The False Sense of Balance of a Balanced Budget Amendment

With federal borrowing rapidly approaching its statutory limit, Washing politicians are falling all over themselves to figure out how to extract more budget concessions from President Obama and Senate Majority Leader Harry Reid (D-NV) in exchange for not throwing the world's financial markets into a panic.

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House Finishes Year in a Blaze of Controversial Legislation

Yesterday, in what most news organizations are calling a "flurry" of legislative action, the House passed a relatively large package of contentious bills, including the Defense appropriations bill, an increase to the debt limit, and a jobs bill. The Defense bill, originally thought to be the most difficult of the four bills, easily sailed through the House, 395 to 34, and the Senate immediately began its debate on the bill. The other two bills, however, proved to be much closer, and foreshadow legislative confrontations in the beginning of 2010.

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House to Finish up Appropriations, Push Other Fiscal Business to Next Year

U.S. Capitol

On Wednesday, the House is likely to finish appropriations for the fiscal year with a vote on the last spending measure, Defense. The lower chamber will also vote to extend the debt limit temporarily, a move that will put the thorny political issue off until 2010.

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Congress to Increase Debt Limit for Fourth Time In Four Years

Last April Congress called for an increase in the debt limit -- the national debt is expected to hit $8,184 billion in mid-February -- however they have yet to act. Lawmakers are expected to take up the issue in February after voting on final tax and budget reconciliation bills, marking the fourth time during President Bush's presidency the debt limit has needed to be raised.

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