Tag Archives | Debt Ceiling

A Look at the Tea Party Version of Fiscal Responsibility

By on July 21, 2011 in News 4

The VenetianThe public Tea Party message, we are told, is one of fiscal responsibility. That means paying your debts living within your means, not wildly spending what you don’t have and defaulting to your creditors but according to Benjamin Spillman in the the Las Vegas Review-Journal the walk is much different than talk for the Tea Party Nation:

Some Tennessee tea partiers are in hot water with a Las Vegas gambling resort that’s accusing them of skipping out on a big hotel bill.

On Monday Venetian Casino Resort, LLC., filed suit against Tea Party Nation Corporation of Franklin, Tenn., alleging the group owes $642,144 for canceling a conservative conclave last year. The event, which had been scheduled for July 14–18, 2010, was first postponed until October and ultimately canceled.

The Daily Caller reported at the time there was a lack of people willing to pay $399 for a weekend pass or $125 per day to hear speakers such as conservative commentator Laura Ingraham or politician Sharron Angle, who at the time was in the midst of a failed campaign to oust Senate Majority Leader Harry Reid, D-Las Vegas.

… Read the rest

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Dooming Ourselves Deeper Into Debt

By on July 21, 2011 in News 3

William HogarthAaron Cynic writes at Diatribe Media:

The showdown over the budget and the debt ceiling continues to drag on and Congress is still attempting to cut spending down to nothing but defense, tax breaks for the wealthy and their own salaries. While politicians continue to rail against taxes and spending and the media hypes the “gang of six”, it seems that we’re quietly moving past an interesting historical marker. Ten years ago, former President George W. Bush signed the first round of tax cuts and the Treasury Department began to borrow billions in order to pay for them.

Think Progress reports that on August 1, 2001, the AP ran a story on the Treasury announcing its intent to borrow $51 billion to cover the tax rebate checks handed out by the Bush Administration. In addition, the article highlighted the Democratic argument against the Bush tax cuts: “Democrats argued that President Bush’s $1.35 trillion 10-year tax-cut package, which includes the rebate checks, is too large, and they expressed fears it will sow the seeds for a return to days of government red ink.… Read the rest

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