Cantor in 2010: ‘Beyond Comprehension’ To Lift Debt Limit to $14.294 Trillion

[WestVirginiaRebel]

CNS News:

(CNSNews.com) - On Feb. 4, 2010, when the House of Representatives voted to increase the legal limit on the national debt by another $1.9 trillion (lifting the limit from $12.394 trillion to $14.294 trillion), not one Republican voted for the increase.

Then-Minority Whip Eric Cantor (R.-Va.) rose on the House floor that day and declared that it was “beyond comprehension” and “a travesty” to talk about raising the legal debt limit to $14.294 trillion.

Last week, the Republican House leadership agreed to a deal with President Barack Obama and Senate Majority Leader Harry Reid (D.-Nev.) to spend $3.7555 trillion in this fiscal year--even though at the close of business Friday, as the deal was being struck, the Treasury reported that it could borrow only an additional $80.85 billion before hitting the $14.294-trillion debt limit Congress set last year.

In the first six months of this fiscal year (Oct-March), according to the Treasury, the debt increased $708.492 billion. Even if you subtract $38.5 billion from that number—to account for the $38.5 billion Republicans say the new spending deal will cut from the current annual federal spending level—the federal government would still be on a pace to increase the debt by about another $670 billion in the remaining six months of this fiscal year.

Simply put: To consummate the spending deal the Republican House leaders cut with Obama and Reid on Friday, the Republicans would need to lift the debt ceiling by hundreds of billions just to let the government borrow the money the Republicans have already agreed to let the government spend between now and Sept. 30.
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I guess it's no longer "Beyond comprehension..."