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When George Bush took office, the debt ceiling was 5 trillion. When he left office, after raising it seven times, the debt ceiling was well over 11 trillion.
When Bush left office, he handed Obama an economy losing 800,000 jobs a month, TARP, two wars, a Bin Laden free to plan and on the last day of Bush's last budget, unemployment was 10.1%. But it's Obama who created the debt? Obama who's spending like crazy?
And I'm not blaming this just on Bush. Remember, Republicans held both houses for 6 straight years and a conservative Supreme Court.
But the truth is right there in the debt ceiling. It's there for everyone to look at. A big boulder in the middle of the road. It can't be "rewritten".
Who do Republicans want to pay for this disastrous debt?
U.S. Senate: Legislation & Records Home > Votes > Roll Call Vote
Every D voted against raising the debt ceiling in 2006.
Please see my sig for reference to Obama's position.
If every (D) had voted against it it would not have passed.
U.S. Senate: Legislation & Records Home > Votes > Roll Call Vote
Every D voted against raising the debt ceiling in 2006.
Please see my sig for reference to Obama's position.
If every (D) had voted against it it would not have passed.
Look at the link.
3 Rs and one I also voted with every D as a NAY vote.
Reagan escalated the Cold War and didn't pay for it.
Bush Sr. invaded Iraq and didn't pay for it.
Bush Jr. invaded Afghanistan and didn't pay for it.
Bush Jr. invaded Iraq AGAIN and didn't pay for it.
Add up those unpaid for wars, add the borrowing to national debt, add the annual interest on that borrowing to the national debt,
and you'll see why we are where we are.
And you might even take into account all of the military activities we were and are involved in around the world exclusive of the above, and the fact that Reagan and Bush cut the revenues that were paying for THAT,
and add that on to the sum total above.
Reagan escalated the Cold War and didn't pay for it.
Bush Sr. invaded Iraq and didn't pay for it.
Bush Jr. invaded Afghanistan and didn't pay for it.
Bush Jr. invaded Iraq AGAIN and didn't pay for it.
Add up those unpaid for wars, add the borrowing to national debt, add the annual interest on that borrowing to the national debt,
and you'll see why we are where we are.
And you might even take into account all of the military activities we were and are involved in around the world exclusive of the above, and the fact that Reagan and Bush cut the revenues that were paying for THAT,
and add that on to the sum total above.
History of debt ceiling tells us where debt came from.
"Senate Republicans want three big changes before theyll stop blocking Cordray. First, they want the CPFB to be by Congress rather than the Federal Reserve. Subjecting the bureau to the congressional appropriations process would compromise its political independence. Second, Republicans want the range of financial institutions the bureau has authority to regulate narrowed. This would leave unsupervised some of the problematic institutions the bureau was created to regulate. Finally, the GOP is demanding that other bank regulatorsthe same ones who failed to prevent the 2008 financial meltdownbe allowed to chaperone the CFPB by verifying that its rules would not harm the safety and soundness of banks.
This would let regulators who turned a blind eye to exploitative practices in the past because they were profitable tell the CFPB what to doand the more different regulators have to approve of a rule, the more convoluted and less effective it is likely to be.
