Federal Budget Dept

January 29, 2010

CCCR has an update to our news story from December 25, 2009, "General Welfare Clause". As part of the story we reported plans to increase the federal debt limit to $13.6 trillion dollars. In the last few days news reports, including Fox News, the actual debt limit will raise to $14.3 trillion in the next week or so. In just 2 months, the expected federal debt for 2010 has increased $600,000,000,000.00 or $1,818.00 per man, woman, and child in America.

What does this mean to Minnesota? More personal resources removed from our personal finances, leaving fewer options for Minnesota State and local government to collect revenue from residents to balance local budgets.

Plans are to raise the limit high enough now to avoid political fallout in the fall elections. Apparently Washington DC suspects Americans are sleeping. That on Election Day we will not remember the actions of congress now.