//
you're reading...
Uncategorized

Debt Ceiling Hypocrisy « naked capitalism

President Obama is not the only debt ceiling flip-flopper. During the Bush administration, when a budget surplus tuned to deficit and debt piled up, Republican leaders in Congress voted to raise the debt ceiling 5 times, increasing the limit nearly $4 trillion. We’re talking about Speaker John Boehner, House Majority Leader Eric Cantor, Senate Minority Leader Mitch McConnell and Senate Minority Whip Jon Kyl. Combined, they voted 19 times for a debt ceiling increase without complaint or conditions.

June 2002: Congress approves a $450 billion increase, raising the debt limit to $6.4 trillion. McConnell, Boehner, and Cantor vote “yea”, Kyl votes “nay.”

May 2003: Congress approves a $900 billion increase, raising the debt limit to $7.384 trillion. All four approve.

November 2004: Congress approves an $800 billion increase, raising the debt limit to $8.1 trillion. All four approve.

March 2006: Congress approves a $781 billion increase, raising the debt limit to $8.965 trillion. All four approve.

September 2007: Congress approves an $850 billion increase, raising the debt limit to $9.815 trillion. All four approve.

via Debt Ceiling Hypocrisy « naked capitalism.

Advertisements

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: