Saturday, July 30, 2011
Debt Ceiling Crisis? Obama Should Just do What Reagan and Bush Did
George H.W. Bush, inherited this massive debt and was forced to raise the debt ceiling 7 times. No beating of drums.
Bill Clinton inherited this massive debt, raised the debt ceiling 4 times, but raised taxes on the top 2%, and balanced the books.
George W. Bush cut taxes on the rich and waged wars on the credit card, leaving Obama with the biggest mess of all. Yet the first time he wants to raise the debt ceiling, so that the Nation can conduct business, the Tea Party Republicans pitch a childish fit.
Creating a catastrophe, where none existed, literally holding the country at ransom.
All for political showmanship.
What are they hoping will happen here? That they will be deemed to be the party worried that their country is going into debt, hoping that people will forget who got the U.S. into this mess?
Republican debt ceiling lift: 29 times
Democrats (including Obama): 5 times.
You do the math.