Debt Ceiling

3/22/2014 | MosesKnows

[MosesKnows]

Debt Ceiling

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I hear reference to the number of debt ceiling increases as the main factor when comparing presidents.

I usually hear that Reagan raised the debt 18 timed. A little research at the Office of Management and Budget web site reveals this is true. The debt ceiling spreadsheet data is from 1940 to the present.

I did infer the following from Table 7.3, Statutory Limits on Federal Debt 1940-Current.

President Reagan
approved of increasing the debt ceiling 18 times
for a total increase of $684.4 Billion, $684,400,000, $684.4 thousand million.

President George H.W. Bush
approved of increasing the debt ceiling 9 times
for a total increase of $1,345 Billion, $1,345, 000,000, $1.345 Trillion.

President Clinton
approved of increasing the debt ceiling 6 times
for a total increase of $1,805 Billion, $1,805,000,000, $1.805 Trillion.

President G.W. Bush
approved of increasing the debt ceiling 7 times
for a total increase of $5,365 Billion, $5,365 Million, $5.365 Trillion.

President Obama
approved of increasing the debt ceiling 11 times
for a total increase of 5,896.6 Billion $5,896.6 Million, $5.896.6 Trillion.

[MosesKnows]

I thought I’d share what I found. The data is very tricky during Clinton because of the way Clinton manipulated the On/Off Book data for Social Security for the appearance of a surplus.

[SaxxonWoods]

You’ll probably be sorry you posted this. People can’t understand the subject no matter how simply you try to explain it. I’ve given up.

[Jean S]

How insulting to Freepers!
Are you telling us that we’re too stupid to understand this?
Maybe you should find a website with smarter people to share your knowledge with.

[fhayek]

What I don’t understand is if it is somehow un-American to oppose an increase to the debt ceiling, then why even have the damn thing in the first place?

[familyop]

Good post. Have a look at the following excerpt, and have a look at the page behind the link, if you like. They dominate both political parties. They're our neighbors. They're everywhere. They'll complain about your post. They're supported by consumerism (especially by investemnts in energy, food, bonds, etc.). Become more self-sufficient. "Go Galt." Don't spend much.

Heavy Hitters: Top All-Time Donors, 1989-2014
http://www.opensecrets.org/orgs/list.php
“2 American Fedn of State, County & Municipal Employees $60,949,129 [Democrat] 81% [Republican] 1%”