Truth is Congress raised the debt ceiling 18 different times for Reagan because he tripled the national debt. And then raised it another 19 times for George Bush because he doubled the national debt. Those two Republican presidents added nearly $11 trillion to today's federal debt and account for the debt ceiling being raised at least 37 times. Seventy-five percent of the federal debt comes from fiscally conservative Republicans.
None of this matters today because the White House is being run by a Democrat. And Democrats aren't offered the same legitimacy as Republican presidents. It's only now that a Democrat is in charge does the debt ceiling being raised equate to a socialist overtaken of America.
*Update:
Where oh where could Republicans possibly be getting the idea that this decision to raise the debt ceiling is strictly because of this president's policies?
Yesterday on Fox News, Sean Hannity: "We're going to lose our AAA bond rating because he spent us into oblivion."
No president spent more money than George W. Bush. To date, no president added more to the national debt than George W. Bush. Not one time did Hannity ever complain about Congress having to raise the debt ceiling for George Bush's spending, which they did 19 times. The only thing different now than then is Obama is a Democrat. Because of that, Hannity and his Republicans are suddenly concerned about the country's fiscal matters.
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1 comments :
if debt resumes the rapid growth we had before the crisis, finessing the real and nominal of wages and debt is beside the point.certified financial planner designation
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