Debt ceiling increases by presidents

By TED McLAUGHLIN

To hear the right-wing Republicans talk, you would think President Obama is the worst president ever for increasing the national debt ceiling. That’s not true at all.

Both Reagan and Bush both increased the debt ceiling more and faster than Obama. They did it by cutting revenues (and much of the Obama increase is due to an extension of the Bush tax cuts forced on him by Republicans).

Ted McLaughlin blogs at http://jobsanger.blogspot.com/.

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Posted by Gary on Jul 31 2011. Filed under Economy/Business/Labor, Politics, US. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.