True.
False is TPM dogma maintaining that government must be ‘shut down’ to ‘save’ the economy.
Funny. The raising of the debt ceiling has happened 15 times under the past three republican presidents. Without any concern by congressional republicans. But suddenly, with the tea party repubs, raising the debt limit is a bad democratic idea. And for the first time, under a black democratic president, they have come near to a shut down once, and have now actually accomplished, shutting down part of the gov. And soon, we will have to default on some of the gov obligations.
So,no issue to raise the debt limit for decades. Never a problem. Until now. And now, under a democratic president who has raised it under 30% as often as the last president (a republican, of course) they block raising the debt limit and the gov begins to start shutting down. And it will cost the country billions, to hundreds of billions, depending on how long the repubs refuse to raise the debt limit.
Here are the raises of the debt limit under Bush 2:
Under Bush the debt ceiling increased:
by $450 billion to $6.4 trillion in June 2002;
by $984 billion to $7.384 trillion 11 months later, in May 2003;
by $800 billion to $8.184 trillion 18 months later, in November 2004;
by $781 billion to $8.965 trillion 16 months later, in March 2006;
by $850 billion to $9.815 trillion 18 months later, in September 2007;
by $800 billion to $10.615 trillion 10 months later, in July 2008;
and by $700 billion to $11.315 trillion three months later, in October 2008.
Under reagan,, the tea party hero, lets see how often it was raised:
Under Reagan the debt ceiling was raised to:
$985 billion in February 1981;
$999.8 billion in September 1981;
$1.0798 trillion September 1981;
$1.1431 trillion in June 1982;
$1.2902 trillion in September 1982;
$1.389 trillion in May 1993;
$1.49 trillion in November 1983;
$1.52 trillion in May 1984;
$1.573 trillion in July 1984;
$1.8238 trillion in October 1984;
$1.9038 trillion in November 1985;
$2.0787 trillion in December 1985;
$2.111 trillion in August 1986;
$2.3 trillion in October 1986;
$2.32 trillion in July 1987;
$2.352 trillion in August 1987;
and $2.8 trillion in September 1987.
Debt Ceiling - Under Modern U.S. Presidents
Yup, the repubs always believed that the debt limit should never be raised. See why everyone know you are a dipshit, Eagle???
Funny. Tea party repubs have been doing all they can to hurt the economy. Why should anyone be surprised. What is funny, however, is that they are way too stupid to see how much they are angering the american public. The only question is how big the hole in their foot is.
