Not shocking, just typical......The 4 Republicans in Congressional leadership roles voted to raise the debt ceiling 19 times under GW Bush, the debt limit was in fact increased by almost 4 trillion dollars! So now under our Democrat Barack Obama the Thugs are demanding spending cuts before they entertain the notion of a vote to raise the debt ceiling. What they are doing is pure politics and the country knows it. They will not only place our economy in peril but the world economy too. Now if you believe spending cuts will fix everything you are highly misinformed and misguided! Surely the GOP knows that, afterall there were NO demands for drastic spending cuts with previous debt ceiling votes, in May 2003 the debt limit increase passed the Senate the same day as the $350 billion Bush tax cuts for the wealthy. They are playing games with our economic survival, games they NEVER played with President Bush. Their plan to bring down President Obama by bringing down our economy will only backfire in 2012.
We all know this, it's not shocking news either, but I saw it on Facebook and wanted to put it on the blog because it reinforces my opinion Republicans are hypocrites and liars.... In 1982 Reagan's administration implemented the first of SEVERAL tax increases in order to REDUCE THE DEFICIT! ( Actually Saint Ronnie raised taxes in seven of the eight years that he was President.) Even then the Republican lawmakers and conservative economists said the tax increases would hurt the economy and hinder growth, but Bruce Bartlett (former Reagan and Bush Sr. economic official) noted, “It would be hard to find an economic forecast that was more wrong in every respect“:
There was no increase in the rate of inflation, which
was exactly the same in 1983 and 1984 as it was in 1982. The
unemployment rate fell from 10.6 percent in December 1982 to 8.1 percent
by December 1983 and 7.1 percent in December 1984.
The 1982 tax increase is the largest peacetime tax increase
in U.S. history. And the same thing happened around President Bill
Clinton’s 1993 tax increase: dire warnings from Republicans about
economic Armageddon, followed by a booming economy.
As Center for American Progress Director of Tax and Budget Policy
Michael Linden noted, over the last 50 years, lower top tax rates have coincided with weaker growth,
while the strongest growth was during periods when the top tax rate was
substantially higher than it is now. As he explained, “These numbers do
not mean that higher rates necessarily lead to higher growth. But the
central tenet of modern conservative economics is that a lower top
marginal tax rate will result in more growth, and these numbers do show
conclusively that history has not been kind to that theory.”
Of course, it’s not really surprising that the GOP has no idea what went on during Reagan’s term. After all, House Republicans scoffed and rolled their eyes when presented with the fact that taxes were higher under Reagan than they are under Obama.
SEE? Hypocrites AND liars, they know it but could give 2 shits.... this is why I despise them!
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