actually, no. The debt limit does have to do with approved spending. It just says we can't borrow more to meet that spending. The largest single increase in budgets is service on the debt and the largest portion of that is defense-related, especially since we are still paying on two unfunded wars. Medicare, Medicaid and Social Security don't even enter the equation as they are not part of the general budget. Social Security is, in fact, one of the largest creditors to the general fund.
Bookmarks