But options to default are also dire
Failure to raise the debt limit does not force a U.S. default on debt payments.
But it may drop soon
"American oil production is at its highest level since 2003."
Deductions cut liabilities
There is "a situation in this country where you're nearing 50 percent of people who don't even pay income taxes."
Sad but true
"Nearly 2,000 high schools - roughly 12 percent of all secondary schools in the United States - produce about half of the nation’s dropouts."
The silver tsunami cometh
"You’ve got each day 10,000 new seniors, baby boomers, becoming eligible for the entitlement programs."
Made in China, held in China
"China now owns $1.1 trillion of our debt, our trade deficit last year with them was a quarter of a trillion dollars."
That's one big check
"Each day our nation pays communist China $73.9 million in interest on our debt."
An "A" for accuracy
Salaries for Virginia’s teachers are below the national average.
Only World War II era can compare
"Right now we are spending at an all-time high, close to 25 percent of our GDP [is] being spent on the federal government. But our revenues are at an almost all-time low of about 15 percent [of GDP]."
Another zap for customers
"[Appalachian Power] wants another 10 percent rate increase. The compensation package for CEO Mike Morris rose 22 percent to $8.7 million in 2010."
Most of GOP joined him
George Allen voted to add $3 trillion to the federal debt, voted to raise the debt ceiling four times and voted for the No Child Left Behind Act while he was a senator.
Opponent Allen can make similar claims
Virginia was named "best managed state, best state for business and best state to raise a child" while I was governor.
Landlines no longer guaranteed
A telephone company will no longer have to provide landline service to customers if there is an alternative provider, including wireless.
New job growth slow to match earlier losses
"The American people have endured 21 consecutive months of 9% or higher unemployment [and] 2.6 million jobs have been lost," since the stimulus bill was signed.
In the end, less money for classrooms
Virginia Senate Democratic Caucus
The House of Delegates budget bill "cuts $50 million from education."
We graded this in red ink
The United states is "borrowing more than 40 cents of every dollar we spend."
Webb backed party on key bills
"Senator Webb was a reliable vote for President Obama and Senator Harry Reid."
Changing the imbalance will cause pain
The U.S. loses more on tax breaks than it collects in personal income taxes.
Polar bears should remain nervous.
"[Tailpipe emissions rules], if fully implemented with all the regulations that go with it, they will keep the temperature from rising nearly five one-hundredths of a degree Fahrenheit. By 2050."
She actually underestimated the total
George Allen voted for budgets that increased the national debt by $16,400 for every second he served in the U.S. Senate.
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