Hypocrisy and the GOP: Increasing the Debt Limit

[dwer.livejournal.com]

So right now, the GOP is attempting to shove the US over the cliff of default by refusing to increase the debt limit without massive spending cuts.

Funny, they didn't seem to complain about such things before.

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:

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.

Now, I suppose you can make an argument for not increasing the debt limit, although I'm unlikely to agree with you. However, doesn't it bother our conservative friends on this board that this is -clearly- an example of the GOP doing something simply to cause Obama to fail, rather than any actual principles they might allegedly have?

Without raising the debt limit, the US will start to default on debt. That will devalue the dollar, crush confidence in the US both within and outside the country, and therefore impedes our leadership in the world when we're still involved in two wars, have bases around the world, and are participating in more than one "peace-keeping" mission via the UN or NATO. Whether or not those are reasonable things for the US to be doing, we're -already- doing them, and it seems to me that defaulting in the middle of these activities won't be very productive. Will the US be able to sign and ratify treaties? Economic agreements? Will foreign companies continue to invest?

(specific data culled from Think Progress.)

Comments

[dwer.livejournal.com]

yes, but you persist. The reality is that the bush tax cuts account for the vast majority of those numbers. The reality is that you're ignoring the context of that in order to try to pin blame on Obama. The reality is that you're wrong.

[whoasksfinds.livejournal.com]

im not blaming anyone. im simply pointing out that the fiscal situation of the united states is much different today than it was in 2007. your are desperate to make this a partisan issue and ignore that simple fact. time to grow up.

[dwer.livejournal.com]

It's not a partisan issue. It's a POLICY issue. Tax cuts contribute to the deficit. Not like we didn't know that already. And that one party continues to harp on tax cuts as if they were the panacea to everything, well. There's no good reason to continue to elect them, is there? When their policies are so destructive to the economy?

[whoasksfinds.livejournal.com]

we can debate taxes until we are blue in the face. the fact remains, the fiscal situation of 2007 is drastically different than the fiscal situation of 2010. nobody should be surprised that there is greater resistance today to an increase in the debt limit. its a matter of common sense.

[kylinrouge.livejournal.com]

tax cuts increase deficit, reduce revenue.

everyone has to sacrifice a little for the common good. let's start with the ones most well-off.

[whoasksfinds.livejournal.com]

sure. doesn't change the fact that our fiscal situation today is much different than 2007. hence the increased awareness and opposition to a debt limit increase.

[kylinrouge.livejournal.com]

agreed. the fiscal situation of today requires military cuts and tax hikes. we could afford to spend into oblivion back into 2007, but now it's time to stop.

[dwer.livejournal.com]

it's a matter of tremendous hypocrisy on the part of the GOP.

[whoasksfinds.livejournal.com]

some maybe, but not the newbies. and just as much hypocrisy exists on the other side of the aisle. so your point is moot. and the fact remains, the fiscal situation has changed considerably 2007.

[dwer.livejournal.com]

the point is not moot, and your deliberate ignorance as to the causes mean that you'll never actually get it.

[whoasksfinds.livejournal.com]

the point is not moot

of course its moot, considering the hypocrisy that exists on the other side. as if were supposed to judge everyone in the congress today based upon the votes of a few select members. spare us dwer.

[dwer.livejournal.com]

Not really. It's rampant on your side of the aisle.

[whoasksfinds.livejournal.com]

if thats what you need to believe, sure.

[dwer.livejournal.com]

it's the truth, and you know it.

[whoasksfinds.livejournal.com]

you believe in a "truth" that is so corrupted by your own hyper partisanship that it cant be taken seriously.

[dwer.livejournal.com]

the proof is in the evidence, which is quite clear. Sorry, but do come again./

[dwer.livejournal.com]

and when you continue to ignore the reasons WHY the situation is different AFTER the financial collapse that the Bush Administration caused, the one who needs to grow up is you. Context is everything. You're avoiding it because you're just as partisan and petty as anyone else.

[whoasksfinds.livejournal.com]

and when you continue to ignore the reasons WHY the situation is different

its completely irrelevant to the issue of increasing the debt limit. when your debt has doubled, and your income has decreased, it is a very different decision. common sense 101, try it out sometime.

the Bush Administration caused

partisan hackery 101. get back to me when you ready to take off the blinders.

You're avoiding it because you're just as partisan and petty as anyone else.

im not letting you change the subject to avoid the issue of your post.

[dwer.livejournal.com]

I'm not avoiding anything. You're the one trying to cloud the issue.