skews13
Diamond Member
- Mar 18, 2017
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The nation is now used to seeing political standoffs whenever the time again comes to raise the now-infamous "debt ceiling." The nation is also generally aware of the dynamic that plays out each time the United States needs to raise the artificially set debt cap in order to keep paying the bills that Congress itself ordered the nation to pay: During times of Republican governance, Republicans hand out tax cuts to whoever the steady rotation of lobbyists in their offices tell them to, draining federal coffers. During times of Democratic governance, Republicans scream loudly about the money being spent on Actual Things, proclaim themselves outraged at federal deficits, and vow that they will absolutely not be a part of this fine mess that their yesterday selves got us into.
In modern history, Ronald Reagan oversaw the largest number of debt ceiling increases, and George W. Bush approved a near doubling of the borrowing cap during his two terms in office.
The debt ceiling increased two times under President Donald Trump, but the Trump administration also tinkered with the budget and the debt ceiling in other ways throughout its four years. When Trump was sworn into office in January 2017, the national debt stood at $19.9 trillion. By November 2020, the debt had increased to over $27 trillion.
Under Trump the debt ceiling increased:
Republicans demand the debt ceiling be raised ... and promise to block Democratic attempts to do so
The nation is now used to seeing political standoffs whenever the time again comes to raise the now-infamous "debt ceiling." The nation is also generally aware of the dynamic that plays out each time the United States needs to raise the artificially...
www.dailykos.com
In modern history, Ronald Reagan oversaw the largest number of debt ceiling increases, and George W. Bush approved a near doubling of the borrowing cap during his two terms in office.
The debt ceiling increased two times under President Donald Trump, but the Trump administration also tinkered with the budget and the debt ceiling in other ways throughout its four years. When Trump was sworn into office in January 2017, the national debt stood at $19.9 trillion. By November 2020, the debt had increased to over $27 trillion.
Under Trump the debt ceiling increased:
- by $1.7 trillion to $19.8 trillion (de facto) in March 2017,
- by $2.2 trillion to $22 trillion in March 2019.