Bush raised the debt ceiling
shadowcast
Posts: 2,231
Seven times.
From a Sept 2008 cbs story: "Buried deep in the hundred pages of bailout legislation is a provision that would raise the statutory ceiling on the national debt to $11.315 trillion. It'll be the 7th time the debt limit has been raised during this administration. In fact it was just two months ago, on July 30, that President Bush signed the Housing and Economic Recovery Act, which contained a provision raising the debt ceiling to $10.615 trillion."
Where was the out cry then or did Republicans not even notice?
From a Sept 2008 cbs story: "Buried deep in the hundred pages of bailout legislation is a provision that would raise the statutory ceiling on the national debt to $11.315 trillion. It'll be the 7th time the debt limit has been raised during this administration. In fact it was just two months ago, on July 30, that President Bush signed the Housing and Economic Recovery Act, which contained a provision raising the debt ceiling to $10.615 trillion."
Where was the out cry then or did Republicans not even notice?
Post edited by Unknown User on
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As Mitch Daniels (Director of the Office of Management and Budget at the time) said, raising the debt ceiling is just "housekeeping".
No one really makes much of an effort to defend Bush, but somebody voted for him.
I brought this up in another thread...not only did the republicans say it was irresponsible not to do it, but some democrats...including President Obama put up a stink about it...I believe he even voted against it. If this doesn't show the American people that R and D are pretty much the same when it comes down to it...they are all big spenders with zero care for the damage that the debt and things like QE do to the standard of living for everyone.
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
On that I think we can all agree. I've always maintained that outside of a few social issues, there is no fundamental difference between Republicans and Democrats.
BOS-9/28/04,9/29/04,6/28/08,6/30/08, 9/5/16, 9/7/16, 9/2/18
MTL-9/15/05, OTT-9/16/05
PHL-5/27/06,5/28/06,10/30/09,10/31/09
CHI-8/2/07,8/5/07,8/23/09,8/24/09
HTFD-6/27/08
ATX-10/4/09, 10/12/14
KC-5/3/2010,STL-5/4/2010
Bridge School-10/23/2010,10/24/2010
PJ20-9/3/2011,9/4/2011
OKC-11/16/13
SEA-12/6/13
TUL-10/8/14
it's BS all around
i 100% for a balanced budget. we should never go into debt except for extreme reasons such as WW2
but this country is nothing if not greedy.
he identified $1.5 trillion in cuts he is willing to make and still it is not good enough for eric cantor...
AP sources: Obama ends talks brusquely
http://news.yahoo.com/ap-sources-obama- ... 12542.html
..WASHINGTON (AP) — President Barack Obama has ended a nearly two hour debt-limit negotiation brusquely, declaring: "Enough is enough" as he rejected Republican demands that he accept a short-term extension of the government's borrowing authority.
Democratic officials and Republican aides familiar with the negotiations say the meeting ended after White House officials had identified more than $1.5 trillion in spending cuts over 10 years to reduce the deficit. Pressed by House Republican leader Eric Cantor to accept only months-long debt ceiling increase, Democratic officials say Obama announced: "Enough is enough. We have to be willing to compromise. It shouldn't be about positioning, and politics and I'll see you all tomorrow."
The officials spoke on condition of anonymity to describe the closed-door meeting.
...
hasn't obama learned that he is going to get no help from cantor at all? it is about as futile as sisyphus pushing that boulder up the hill...
"Well, you tell him that I don't talk to suckas."
I don't think anybody really gets the fact that $1.5 trillion in spending cuts over 10 years is just a promise that won't actually play out. You can not bind future senates with promises. These are the last people I trust to hold true to their word.