Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion.
The unpopular legislation is needed to allow the federal government to issue bonds to fund programs and prevent a first-time default on obligations. It promises to be a challenging debate for Democrats, who, as the party in power, hold the responsibility for passing the legislation.
It’s hardly the debate Democrats want or need in the wake of Sen.-elect Scott Brown’s victory in Massachusetts. Arguing over the debt limit provides a forum for Republicans to blame Democrats for rising deficits and spiraling debt, even though responsibility for the government’s financial straits can be shared by both political parties.
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Borrowing money from China to pay for the occupation of Iraq, Afghanistan, Pakistan and now probably Yemen. How about we bring all our troops home and only use our army to defend North America? Isn't it sad that the average blogger could do a much better job as president than our last two presidents?
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Speaking to an audience of like-minded libertarians at a Campaign for Liberty regional conference in Atlanta this past weekend, the Texas Republican said:
There’s been a coup, have you heard? It’s the CIA coup. The CIA runs everything, they run the military. They’re the ones who are over there lobbing missiles and bombs on countries. … And of course the CIA is every bit as secretive as the Federal Reserve. … And yet think of the harm they have done since they were established [after] World War II. They are a government unto themselves. They’re in businesses, in drug businesses, they take out dictators … We need to take out the CIA.
Paul’s comments, made last weekend, were met with a loud round of applause, but they didn’t gather attention until bloggers noticed a clip of the event at YouTube.
Paul appeared to be referring to news reports that the CIA is deeply involved in air strikes against Al Qaeda targets in Afghanistan and Pakistan. A suicide bombing late last year against Forward Operating Base Chapman in Afghanistan took the lives of seven of CIA operatives, including two contracted from Blackwater. The event highlighted the CIA’s deep involvement in the war effort.
Paul’s reference to the CIA being “in the drug business” refers to long-running allegations that the CIA has funded some of its covert operations with proceeds from drug-running. That claim was most famously made in a 1996 investigative report from the San Jose Mercury-News, which alleged that cocaine from the Contra-Sandinista civil war in Nicaragua was making its way to the streets of L.A. via the CIA.
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