RAND PAUL:
“If the new Congress gives in to establishment pressure and media alarmism about shutting down the government by voting to increase the debt ceiling once again, you will know that the status quo has prevailed. You will know that Congress, despite the rhetoric of the midterm elections, is doing business as usual. You will know that the simple notion of balancing the budget by limiting federal spending to federal revenue remains a shallow and laughable campaign platitude.”
http://www.personalliberty.com/conservative-politics/government/will-the-new-congress-have-the-guts-to-do-it/
Raising the debt ceiling past 14.3 TRILLION
Among the many issues they’ll have to address fairly soon is raising the debt ceiling once again. Even without any new spending, total U.S. public debt continues to grow by more than $100 billion a month. This means it will approach the mandated limit of $14.3 trillion sometime in March. If Congress does not agree to raise the ceiling, the Treasury will not be able to continue issuing new debt.
GOP Reverses Course and Moves to Bail Out States
A budget buster in the making.
Enter Congressman John Mica (R-FL) to the rescue of overpaid, under-worked government employees! The incoming chairman of the House Transportation Committee, Mica is a powerful backer of continuing the Obama Administration's backdoor bailout of bankrupt state governments.
In December, Mica told The Wall Street Journal that "I can almost guarantee" that the program for subsidized bonds will be funded next year. So the federally-guaranteed muni bond market is set to expand, big time.
GOP Already Balking at Privatizing Fannie Mae/Freddie Mac
More money out the door.
The incoming chairman of the House Financial Subcommittee, Rep. Scott Garrett (R-NJ), has spent the last year bashing outgoing chairman Barney Frank (D-MA) for sinking the housing market by letting Fannie Mae and Freddie Mac help bankrupt the U.S. banking system. But now he's going to be chairman. Long gone is talk of re-privatizing Fannie Mae and Freddie Mac, as proposed by Rep. Jeb Hensarling (R-TX)!
The incoming chairman of the House Financial Subcommittee, Rep. Scott Garrett (R-NJ), has spent the last year bashing outgoing chairman Barney Frank (D-MA) for sinking the housing market by letting Fannie Mae and Freddie Mac help bankrupt the U.S. banking system. But now he's going to be chairman. Long gone is talk of re-privatizing Fannie Mae and Freddie Mac, as proposed by Rep. Jeb Hensarling (R-TX)!
Instead, incoming Chairman Garrett has already turned on the mood lights and cued up the tap-dance music, leading off in classic Washington double-speak last month: "You have to recognize what the impact would be on the fragile housing market as it stands now."
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