Why do we have a debt ceiling crisis?

[ThomWV]

The debt ceiling crisis is fully fabricated. We have to get that straight right up front. To begin with the debt ceiling has modern origins, its comes from a law passed in 1917 (called the second liberty bond act or something like that), and usually its tied in with the budget, but of course these days we don't actually have a budget any more, so the debt ceiling sort of stands out there all by itself. And all by itself it has been a pretty uncontroversial issue. No matter who the President was when our debt approached the limit Congress stepped in and raised it. The only people who saw it happen were C-Span junkies.

But this one is different. Now its been elevated, by pure fabrication, to the point that it threatens not only our economy, but in fact the world's economy.

Why?

Our Congress is made up of roughly 500 of the most conniving men and women who could be found in this country, nothing about the debt ceiling matter has happened by accident, this is not the unintended consequence of anything. This is a created problem and it had to be created for a reason. What was it?

The only answer I have is to advance and extreme anti-social agenda driven as much by the CCR (Confused Christian Right) as the economic barbarians that are sacking the nation.

[KansDem]

1. Because we have a black Democrat in the White House.

Don't forget, the Republicans raised the debt ceiling seven times under Bush.

I don't know of any other explanation...

[Incitatus]

9. Yup, now the ENTIRE National Debt is his fault.

And of course the fault of scumbag government workers who make sure we have a somewhat civil and functional society to live in.

Ann Coulter on Bill Maher actually said government employees are nothing but a drain on society. I don't know if she is really that stupid or she just knows the people who take her seriously and buy her books are.

[abelenkpe]

2. Republicans just want a grand never ending game of obstruction

They actively seek to make the economy worse in the hopes that increased misery leads Americans to vote for them out of despair and confusion.

Dems should be counter offering with a jobs program, stimulous and strengthening social programs and entitlements. Not moving to the center or right.

[Loge23]

3. Political theatre.

It's simply a tactic by Republicans to cast themselves as the fiscal saviors - even as they try to masquerade the reality that they are, in fact, the primary cause of the problem.
If anything of substance, this whole affair is indicative of how broken our political process truly is.

[Whiskeytide]

4. McConnell told you why - ...

... as a political instrument to help defeat Obama. Nothing more, nothing less.

[PoliticAverse]

5. Previous debt limits haven't all been 'pretty uncontroversial...

There have been several debt limit 'crises' since 1979.

Here is a letter from the GAO mentioning all the debt limit crises from 1946 to 1996:

http://archive.gao.gov/paprpdf1/156283.pdf

In 1979 the US even inadvertently defaulted on a few million in Treasury securities for a brief period:

See: http://www.cbsnews.com/stories/2011/07/11/politics/washingtonpost/main20078437.shtml

The GAO has a web page for the debt limit crisis of 1995-96: http://www.gao.gov/products/AIMD-96-130

A paper by the GAO on the 2003 debt limit crisis: http://www.gao.gov/new.items/d04526.pdf

All crises are different, but what really distinguishes this one is the expansion of the Internet,
100 Cable TV Channels, and political talk radio.

Ultimately this debt limit will be raised like all the others ultimately were.

[hack89]

6. President election politics

The President wants a long term deal that forces Republicans to vote on potentially unpopular cuts. The Republicans want a short term deal to avoid those votes.

[blkmusclmachine]

7. Manufactured "crisis" to shove widely unpopular legislation on us.

Crooks and liars, every last one of them.

[jwirr]

8. It was a red herring that the rethugs fabricated but I do not remember

what they were trying to hide. Obviously they were successful. I believe it is a false crisis because if it was not a crisis in georgie boooooshes term then it is not a crisis now. Yes it has gotten larger but raising taxes on the rich, getting out of the wars and doing a FDR type jobs stimulus would fix it.

This is purely political. When President Obama was elected they no longer had any issue because the economic mess was their fault. So they needed to create a new issue - deficit/debt. Unfortunately most of us look at debt as if it is the same as personal debt which can destroy a family. So their new issue seems to strike home. What needs to be done regarding this whole situation facing the economy is to once again become the UNITED states of America. We need everyone from that dear corporate "person" to the tbagger to decide that they want to save this country for everyone and that means working together (not shared sacrifice) to rebuild for the future, to pay off the debt, to create jobs and to get out of the everlasting wars. Unfortunately I do not see the rethugs doing that. They do not want that America.