On Debt Ceiling, Obama is Being Spoiled Compared to Reagan!

Posted by on 07/27/2011 Leave a comment (5) Go to comments

Get this: The twelve year Republican Congress (which started in 1995 and concluded by 2007) raised the Debt Ceiling by $4 trillion. During the following four years that the Democrats had the Congress, the Ceiling was raised by a total of $5.3 trillion.

Here it gets juicy: The Debt Ceiling under President Reagan was raised eighteen times to a total of $1.85 trillion (See Table 7.3). This is less than the $3 trillion-plus already raised under President Obama! Raising the Ceiling 18 times during the eight Reagan years meant a Ceiling battle every 5.3 months (on average), with an average rise of only $102 billion per increase. So… does Obama really want to get the Reagan Treatment? Well… Em, ah, er.

(Even after adjusting for inflation, Reagan got way less per increase than what Obama got — $1 trillion per pop for Obama, on average! In terms of the amount of times Reagan needed to ask for an increase, well… a year still has only twelve months in it just as it did twenty-thirty years ago. Reagan was forced to stand before Congress every 5.3 months asking for money, but Obama is not happy with the Republican House offer of a seven-eight month extension)

An honest debate about the Ceiling is NOT how many times it was raised by this Congress or under that President. Instead, let’s see by how much it was raised; by how much more will we raise it, and how fast will we burn through the new debt.

 

RELATED: Only 12% of Each Dollar in New #Debt is From Bush Tax Cuts (27% if You Add ALL Tax Changes Since 2001) http://t.co/eI32TvW 

DEAL: $23.3 Billion in Bogus Monthly Cuts for GOP; $155.5 Billion in REAL New Monthly Debt for Obama http://bit.ly/r88JwO

THINGS GOT BETTER? FDIC Closed More Banks in 2011 Than the Eight Bush Years Combined http://t.co/d4ddxmA

 

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  • http://twitter.com/AdamClev AdamClev

    If our political leaders were serious and truly supported shared sacrifice to save entitlements, they and all government workers would move themselves out from their retirement and medical systems and into Social Security and Medicare with the rest of us. They would also support taking Social Security and Medicare out of the General Fund and put them into their own separate funds. We were asked over a decade to increase our contribution to SS because of the Baby Boomer retiree increase, but no one is talking about that. #SocialSecurity The promises being made cannot be sustained. We have an entitlement problem and spending problem.

  • bill beagle

    like ur site found it via a link on theblaze

  • t connors

    Democrats spend big, it buys votes – and leaves less for DEFENSE.

    This is WW3 and we are losing :The Real War.

    Alger Hiss founded the UN….Group nations by regions, prelude to one-world government… Socialism is a prelude to communism … get rich nations to aid poor ones long term (Mexico) so they grow weak and easy to take over :Stalin in Fearful Master/net ….

    Add Cloward -Pivens …

    And, the government was hijacked by Marxists … Neither Boehner nor Reid cut
    enough spending to save us. Downgrading has already started… It will lead to default … Boehner in secret negotiations gave Obama a tax increase …2 Aug?
    It could be 8-10 Aug. No one knows. :Marklevin.com.

    The USSR fell because it spent 1/2 its budget on the military and still couldn’t
    beat us. Next came a stampede of “ex-communists” to foreign aid…

    The US spends 50 (60%?) of its budget on HANDOUTS. :Heritage.org.

  • http://jamesgarrett42.wordpress.com James Garrett

    To add a little more Juice to your facts. I was in business all though Ronald Reagan’s presidency and it was the democrats who controlled the house and the senate that were doing all the out of control spending. All through the 8 years of Regains presidency the more money in taxes collected from a booming economy the more money the democrats’ spent. Democrats were driving up deficits intentional and blaming it on Regan (Same thing that’s going on now blaming Bush, tea party and republicans) and Regain turn in a balanced budget every year and the democrats paid no attention to it.

    I paid very close attention to politics because Jimmy Carter’s disastrous economic policies with a democratic controlled congress taught me that its human to error but it takes Democrat Politian’s to really screw things up in the economy. I was also in business all through Jimmy Carter’s presidency.

    If you like numbers and facts take a look at the deficit five months May to September 2008 just prior to the September 2008 bank collapse. The democrats controlled the House and the Senate. Democrat’s deficit spending on budget was $452 Billion and about $230 Billion off budget deficit spending. Total $683 Billion in deficit spending in just 5 months May to September of 2008. I believe that the democrats with this out of control deficit spending sucked all the money from the banking system worldwide causing the banks to collapse in 2008 and then blamed it on the banks.

    TARP was $700 Billion for a reason ($683 Billion in deficit spending) and it wasn’t picking numbers out of thin air like the screwy Hollywood movie showed. I also believe it was all done intentionally to bring us right where we are today. (Seditious Treason?) 100% of all current deficit problems we have today are from the Democratic Party who took control of congress January 2007 or 21 months before the bank collapse in September of 2008, The republicans where in the minority and got the nick name the party of NO remember!

    If you thing otherwise you are repeating the line of bull sh-t the Liberal fringe state run media spewed that got BO elected, check the dates and the numbers they are accurate.

    Seditious Treason

    http://wp.me/pO1Ho-4N

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