Ronald Reagan Urged Congress to Raise Debt-Ceiling 18 Times

Fiscal Cat thinks it’s time to raise the debt ceiling and leave Medicare, Social Security & Medicaid alone. Photo credit: Cat by NathanF on flickr cc

Ronald Reagan On Debt Ceiling: It’s the responsible and right thing to do for U.S.

From Ronald Reagan’s Presidential Radio Address, September 26, 1947:

“Congress consistently brings the government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on social security and veteran benefits. Interest rates would skyrocket, instability would occur in financial markets, and the federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility – two things that set us apart from much of the world.”

Under Ronald Reagan’s presidency, the debt-ceiling was raised 18 times.

President Ronald Reagan Diaries:

Tuesday November 1, 1983

Dear Diary:

“Day began with G.O.P. cong. leadership – a full cabinet room. Last night the repub. sen. very irresponsibly refused to pass an increase in the debt ceiling which is necessary if we’re to borrow & keep the govt. running. After we gave them all a rundown on Lebanon & Grenada we took up the budget & the necessary legislation. I sounded off & told them I’d veto every d – – n thing they sent down unless they gave us a clean debt ceiling bill that ended the meeting.” (“The Reagan Diaries”, p. 192)

Who are you Going to Believe?

Instead of ghostbusters, we need talking-point busters. We’re fighting for the truth vs. something sort of kind of like maybe around the truth, but slightly altered this way and that.

For some people in the Freshman class in Congress, it is clear that these folks might be allergic to facts and objective reality. Especially when they make comments claiming it is good for America’s credit rating to not raise the debt ceiling. Or that it won’t really matter that much.

Talking Point Alert:

Have you noticed that certain conservative political commentators and politicians avoid saying “wealthy people”, “rich” or “the wealthy 1%.” Instead they call these people so-called “job creators” and claim not raising taxes or reducing taxes will enable these folks to create more jobs. Okay, where are the jobs that were created from all the money these folks have raked in since the extension of the Bush tax cuts?

Where is this money? It is being banked. That’s right. The so-called “job creators” are sitting on over $2 trillion dollars in cash and they are not creating jobs when last checked. This misleading bait and switch must be the latest talking point from some focus group perhaps from Frank Luntz? Here Jon Stewart illuminates the issue on HuffPost in their article and video from his recent Daily Show,

“Jon Stewart Mocks GOP Claims That Obama ‘Obsessed’ With Taxing ‘Job Creators’ (VIDEO)”

Also, according to the CBS polls on July 18, 2011, Americans do not want to cut social security, medicare and medicaid, but they do want to raise the debt ceiling.

According to the CBS article, “Latest Poll Numbers at Odds with GOP Debt Stance,”

“About 66 percent of Americans believe any final deal should include a combination of both spending cuts and tax increases. This includes 55 percent of Republicans, and 53 percent of tea party supporters.”

What will it take to bring sanity to the floor of the House and Senate? The debt-ceiling should be raised and then we deal with the rest of the budget issues. It is wrong to make social security, medicare, and medicaid put on the chopping block as a threat by certain factions in Congress that claim they won’t raise the debt ceiling unless these programs have cuts.

Who would be most affected by those cuts if they happen?

  • The elderly and the people who can least afford it.

Meanwhile, just cutting the budget is only part of the answer. Yes, perhaps there is waste, fraud and abuse that we need to address in government. There is also a lot of that in corporate America as well. However, government can help us by making sure we have a healthy environment, good education and protections and civil rights for all Americans.

Doobie thinks some people in Congress don't know how to add and they are deciding on the Budget. Otherwise they would understand why we need to raise the debt-ceiling. Photo Credit: Doobie--my crazy cat by stpauliesgirl on flickr cc

Banks Funded Tea-Party Candidates. Are they Having Second Thoughts Now?

Why is President Obama backing reducing social security benefits to senior citizens and the veterans in order to pick up the tab for the extension of the Bush tax cuts done in 2010?

It’s clear that Americans favor keeping social security & medicare as pointed out by Raw Story’s article, “61 percent say tax the rich to fix budget deficit.”

This entry was posted in Economy, Elections, jobs and tagged , , , , , , . Bookmark the permalink.

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