"Here’s a breakdown of debt ceiling increases before Obama by presidency"

[steve2470]

￭ Dwight D. Eisenhower (R): 4
￭ John F. Kennedy (D): 5
￭ Lyndon B. Johnson (D): 7
￭ Richard M. Nixon (R): 7
￭ Gerald R. Ford (R): 6
￭ Jimmy Carter (D): 6
￭ Ronald Reagan (R): 17
￭ George H. W. Bush (R): 5
￭ Bill Clinton (D): 4
￭ George W. Bush (R): 7

http://www.politifact.com/new-jersey/statements/2011/jul/21/richard-codey/new-jersey-sen-richard-codey-claims-every-presiden/

Ironic that Reagan raised it the most in 8 years, compared to Clinton's 8 years.

[woo me with science]

1. Shock Doctrine

Ginned up crisis.

Scam.

Theft.

[Bluebear]

2. + + + + + + + +

[Zookeeper]

12. That's all it is. They didn't care when Shrub did it. +1 n/t

[Jim Warren]

3. +1

for education value. Thanks.

[avaistheone1]

4. Bookmark this one folks.

Thank you.

k&r

[Ruby the Liberal]

5. K&R&Bookmarked

Good find, Steve!

[Ruby the Liberal]

6. Steve - Truman invoked the 14th on the debt ceiling. Do you have time to pull that data?

Would be helpful to have the number of times raised since enacted in 1917 (calming fears about war debt) as well as the year Truman invoked the 14th (and what congress he faced).

If you don't have time, I can try to look it up tomorrow after work.

Thanks for posting this!

[steve2470]

7. according to this source, the debt ceiling went down during Truman's term:

<snip>

Soon after the debt limit was increased to $300 billion in April 1945, Truman became president. The debt ceiling was reduced to $275 billion in June 1946, and the Korean War was primarily financed by higher taxes, not increased debt.

The debt ceiling would not increase until 1954, when Dwight D. Eisenhower was president.

"It just went down and stayed down," said Bill Galston, a senior fellow in governance studies at the centrist-to-liberal Brookings Institution, referring to Truman’s presidency.

<snip>

http://www.politifact.com/new-jersey/statements/2011/jul/21/richard-codey/new-jersey-sen-richard-codey-claims-every-presiden/

[steve2470]

8. History of debt ceiling increases, from 1917 to 2011:

February 2010 - $14.294 trillion
December 2009 - $12.394 trillion
February 2009 - $12.104 trillion
October 2008 - $11.315 trillion
July 2008 - $10.615 trillion
September 2007 - $9.815 trillion
March 2006 - $8.965 trillion
November 2004 - $8.184
May 2003 - $7.384 trillion
June 2002 - $6.4 trillion
August 1997 - $5.95 trillion
March 1996 - $5.5 trillion
August 1993 - $4.9 trillion
April 1993 - $4.37 trillion
November 1990 - $4.145 trillion
October 1990 - $3.23 trillion
November 1989 - $3.1227 trillion
August 1989 - $2.87 trillion
September 1987 - $2.8 trillion
August 1987 - $2.352 trillion
July 1987 - $2.32 trillion
October 1986 - $2.3 trillion
August 1986 - $2.111 trillion
December 1985 - $2.0787 trillion
November 1985 - $1.9038 trillion
October 1984 - $1.8238 trillion
July 1984 - $1.573 trillion
May 1984 - $1.52 trillion
November 1983 - $1.49 trillion
May 1983 - $1.389 trillion
September 1982 - $1.2902
June 1982 - $1.1431 trillion
September 1981 - 1.0798 trillion
September 1981 - $999.8 billion
February 1981 - $985 billion
December 1980 - $935.1 billion
June 1980 - $925 billion
September 1979 - $879 billion
April 1979 - $830 billion
August 1978 - $798 billion
October 1977 - $752 billion
June 1976 - $700 billion
March 1976 - $627 billion
November 1975 - $595 billion
February 1975 - $577 billion
June 1974 - $495 billion
December 1973 - $475.7 billion
October 1972 - $465 billion
March 1972 - $450 billion
March 1971 - $430 billion
June 1970 - $395 billion
April 1969 - $377 billion
June 1967 - $358 billion
March 1967 - $336 billion
June 1966 - $330 billion
June 1965 - $328 billion
June 1964 - $324 billion
November 1963 - $315 billion
May 1963 - $309 billion
July 1962 - $308 billion
March 1962 - $300 billion
June 1961 - $298 billion
June 1960 - $293 billion
June 1959 - $295 billion
September 1958 - $288 billion
February 1958 - $280 billion
July 1956 - $278 billion
August 1954 - $281 billion
June 1946 - $275 billion
April 1945 - $300 billion
June 1944 - $260 billion
April 1943 - $210 billion
March 1942 - $125 billion
February 1941 - $65 billion
June 1940 - $49 billion
December 1939 - $45 billion
December 1919 - $43 billion

The U.S. debt ceiling history began way back in 1917 with the Second Liberty Bond Act, which helped finance the United States'
entry into World War I.

Source: http://usgovinfo.about.com/od/federalbudgetprocess/a/US-Debt-Ceiling-History.htm

[Major Hogwash]

11. So Bush was responsible for racking up 8.35 Trillion in debt. Incredible!

While Clinton only added $2 Trillion to the national debt in the same amount of time.

Christ, Reagan raised the debt ceiling every 6 months!
He raised it 3 times in both 1984 and 1987.
Incredible.

[Ruby the Liberal]

14. Ouch. Quite the list. Thanks!

[pnorman]

9. Thanks! That's just what I was Googling for this afternoon.

n/t

[steve2470]

10. Reagan raised debt ceiling 18 times, not 17, per this official source:

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/hist.pdf , Table 7.3, page 147 of the PDF file.

[Botany]

13. the bush tax cuts gave us this deficit

But according to the republicans we have to protect those tax cuts.

Albert Einstein Quotes

Insanity: doing the same thing over and over again and expecting different results.
Albert Einstein