Interesting info re: the national debt ceiling

[boombala]

http://usgovinfo.about.com/od/federalbudgetprocess/a/US-Debt-Ceiling-History.htm?nl=1

 

[Siphorous]

Interesting to know how it began for sure.

Commented here as I was just looking at an article about the talks collapse and saw this picture which is like a condensed version of the figures in your article. Up and up and up.

 

[Minor Axis]

Interesting to know how it began for sure.

Commented here as I was just looking at an article about the talks collapse and saw this picture which is like a condensed version of the figures in your article. Up and up and up.

Keep in mind that under GOP on this chart it went up 7.5 trillion and under the DEMs it went up 6 trillion and it is arguable that what happened under Obama was not Obama sending debt skyrocketing just cause he is a Democrat and loves to spend, but it was an attempt to stop a runaway economic freight train heading for the cliff, a direct result of an economic calamity set up by President Doofus and asshole GOPpers who are in there right now continuing to work hard to fuck this country over.

Somehow they think that when the default happens and the economy is a smoking ruin, the people will cheer and reelect them and toss out Obama, to put in another GOPer President. Hardly.

 

[Accountable]

Keep in mind that under GOP on this chart it went up 7.5 trillion and under the DEMs it went up 6 trillion and it is arguable that what happened under Obama was not Obama sending debt skyrocketing just cause he is a Democrat and loves to spend, but it was an attempt to stop a runaway economic freight train heading for the cliff, a direct result of an economic calamity set up by President Doofus and asshole GOPpers who are in there right now continuing to work hard to fuck this country over.

Somehow they think that when the default happens and the economy is a smoking ruin, the people will cheer and reelect them and toss out Obama, to put in another GOPer President. Hardly.

:24::24::24::24: You just can't help yourself!!

See?? SEE?? Okay, the Dems did 6 but THE REPUBS DID 7! That's practically 15% more!! That makes the Repubs 15% more eeeeeeviler than the good and mighty Dems.

Look at the same data on this chart that I showed in the other thread:

According to this same data, when the Dems controlled Congress they raised the ceiling by $7.9T, Repub-controlled congresses raised it by $1.7T, and working together they jointly cooperated in raising it $3.6 trillion.

The Repub presidents with Repub congress jointly jacked 'er up about $1.25T, Dems in the same situation raised it about $2.25T, making Dems almost TWICE as eviller.

When teamwork was involved, The Repubs are clearly more adept at mind control and eeeevil manipulation. (all numbers approximate) Reagan $3T, Bush I $2T, Clinton $1T, Bush II $5T.
Put another way, the Dems were eager to raise the ceiling under Repub presidents because they could blame the other side (I mean, you did, didn't you?)

Put yet another way, stop trying to justify actions by Dems and demonize the same actions by Repubs.

For your last statement, the only thing that will save this country is to toss out the entire Party - both sided - not just one side because they'll just resurrect it under a different name ... maybe TEA Party. :eek

 

[Accountable]

http://usgovinfo.about.com/od/federalbudgetprocess/a/US-Debt-Ceiling-History.htm?nl=1

Ariana Huffington mentioned this morning on one of the news round tables (I forget which one) that the US is the only country with a debt ceiling. Since they raise it any time we near it it's meaningless and pointless. She's right when she says this is a manufactured crisis.

Congress should have to debate and decide on every instance of issuing bonds instead of pre-approving debt by the trillions. It would be nice to make it something we vote on every year, but that's not practical, unfortunately.