Wednesday, July 6, 2011

Republican Hypocrisy

If it wasn’t so tragic it would be ridiculously humorous as we watch the antics of our newly elected members of the Republican Party as they battle President Obama over the necessity of raising the debt ceiling. All of a sudden the idea of raising it is abhorrent to them. Could it all just be an opportunity to embarrass the President and improve their chances with the voters in next year’s elections?
Let’s review the recent past;
Year Debt Limit in Billions
1996-------- 5,500
1997-2001--- 5,950
2002-------- 6,400
2003-------- 7,384
2004-------- 7,384
2005-------- 8,184
2007-------- 9,815
2008-------- 10,615
2008-------- 11,315
2009-------- 12,104
2009-------- 12,394
2010-------- 14,294
The reason the debt ceiling held steady during those earlier years was the result of the policies when President Clinton and the Democratic Congress were in power. Surpluses were being produced which were starting to lower the National Debt.
President Reagan and the first George Bush tripled the debt during their years in office. Under President George W. Bush together with his Republican Congress the debt ceiling was raised six times. Can anyone not remember Vice President Cheney’s council to the President that President Reagan proved that deficits didn’t matter? With that sage advice they went on their merry way. It was business as usual.
Immediately upon assuming office President Obama promoted his Trillion dollar stimulus plan. That together with the ongoing costs of the three “wars” we are engaged in has brought us to the brink. Now, all of a sudden the Republican House has said no more. I certainly agree the hemorrhage cannot continue. Where I disagree is that they are not seriously considering all options. In my opinion they have resolved to put the President in a box. In a separate article I will be spelling out areas that could be considered. All I hoped to accomplish with this one is to point out to those with short memories that the Republicans are like those living in glass houses. They should refrain from starting a rock throwing contest.

Jack B. Walters
July 6, 2011

No comments: