During Bush Presidency, Current GOP Leaders Voted 19 Times To Increase Debt Limit By $4 Trillion

From ThinkProgress:

After pushing the government to brink of shutdown last week, Republican Congressional leaders are now preparing to push America to the edge of default by refusing to increase the nation’s debt limit without first getting Democrats to concede to large spending cuts.

But while the four Republicans in Congressional leadership positions are attempting to hold the increase hostage now, they combined to vote for a debt limit increase 19 times during the presidency of George W. Bush. In doing so, they increased the debt limit by nearly $4 trillion.

At the beginning of the Bush presidency, the United States debt limit was $5.95 trillion. Despite promises that he would pay off the debt in 10 years, Bush increased the debt to $9.815 trillion by the end of his term, with plenty of help from the four Republicans currently holding Congressional leadership positions: Speaker John Boehner, House Majority Leader Eric Cantor, Senate Minority Leader Mitch McConnell, and Senate Minority Whip Jon Kyl. ThinkProgress compiled a breakdown of the five debt limit increases that took place during the Bush presidency and how the four Republican leaders voted:

And while we’re on the subject.


Obama’s and Bush’s effects on the deficit in one graph

14 Comments

  1. The only reason Rethuglicans are being such HUGE ASSHOLES, is because they are determined to see this President fail.

    1. Which is about the worst reason for them to behave this way. Who remembers Mitch McConnell’s statement after the mid terms? To wit:

      “On Fox News Sunday, Bret Baier asked him if he stands by his previous statement that ‘the single most important thing we want to achieve is for President Obama to be a one-term President.’ McConnell confirmed that his goal remains unchanged.”

      WTF??!!

      (Source: http://newsmobius.com/2011/07/sen-mcconnell-making-obama-a-one-term-president-is-my-single-most-important-political-goal/)

  2. I hate to break it to people, but America IS on the brink of default, even if we do raise the debt ceiling. Just because people made poor decisions before, it does not mean they should keep making them just for consistency. We need large spending cuts, nothing else will solve anything.

    1. You’re confusing two separate matters. The debt ceiling is perhaps misnamed, but it is not congress opening a new credit card account to cover the interest on the old ones. The budget needs to be fixed, but holding our economy hostage is no way to go about things. Ask Greece or Ireland how fun it is to have a shitty credit rating.

    2. Does it worry you that by cutting spending too much during a stagnant period in the economy it will shrink the economy more and the US will be put in an even worse position when it comes to keeping up with its payments?

      One bright spot (as far as the US position in the global economy) is the diminished value of the dollar, would you not agree?

      1. Does it not worry you that if we keep up this spending, we will implode like Greece. We have to raise the debt ceiling, this is not the problem, the problem is the policies that put us in the position to have to increase it. Income < Expenses. We can make cuts now and control the madness, or just wait until total collapse. This is President Obama's fault, and Bush, and Clinton, and Bush Sr. and Reagan. The argument should not be who is at fault, but how we are going to fix it.

  3. .
    What a misleading graph. Seems we need to look at

    perpetuating existing policies

    as well as new policies in order to get a clear view of a president’s policy stance.

  4. Can someone please explain something? Why is “health reform” policies under Obama listed as costing $152 billion when it’s been reported from legitimate sources (e.g., CBS news, NYT) that it will cost about $940 billion over time? I’m just confused.

    (as a side note, I am in favor of the health care legislation).

  5. One MAJOR fix to the economy would be to severely tax businesses that send their jobs overseas, or at least take away the tax breaks that they keep abusing. Even if the companies decide that it’s still profitable to send jobs out of the country, at least the U.S. will be making something off of them – money that could go to social aid programs.

  6. Thinking that not raising the debt ceiling will stop us spending money is like saying our household is in too much debt we’ll stop paying our credit cards.

    It will only make matters much much worse.

    This is a manufactured crisis done solely to attempt to injure a democratic president.

    Ultimately the American public have reaped what they sowed in the last election, electing Tea Party republicans who are determined to oppose the president no matter the cost.

    It’s no good blaming “Washington” when its the voters who create these situations by their choices of either voting republican or not bothering to vote democrat.

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