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During Bush Presidency, Current GOP Leaders Voted 19 Times To Increase Debt Limit By $4 Trillion

Think Progress- By Travis Waldron at 11:49 am

After pushing the government to brink of shutdown last week, Republican Congressional leaders are now preparing to push America to the edge of default by refusing to increase the nation’s debt limit without first getting Democrats to concede to large spending cuts.

But while the four Republicans in Congressional leadership positions are attempting to hold the increase hostage now, they combined to vote for a debt limit increase 19 times during the presidency of George W. Bush. In doing so, they increased the debt limit by nearly $4 trillion.

At the beginning of the Bush presidency, the United States debt limit was $5.95 trillion. Despite promises that he would pay off the debt in 10 years, Bush increased the debt to $9.815 trillion by the end of his term, with plenty of help from the four Republicans currently holding Congressional leadership positions: Speaker John Boehner, House Majority Leader Eric Cantor, Senate Minority Leader Mitch McConnell, and Senate Minority Whip Jon Kyl. ThinkProgress compiled a breakdown of the five debt limit increases that took place during the Bush presidency and how the four Republican leaders voted:

June 2002: Congress approves a $450 billion increase, raising the debt limit to $6.4 trillion. McConnell, Boehner, and Cantor vote “yea”, Kyl votes “nay.”

May 2003: Congress approves a $900 billion increase, raising the debt limit to $7.384 trillion. All four approve.

November 2004: Congress approves an $800 billion increase, raising the debt limit to $8.1 trillion. All four approve.

March 2006: Congress approves a $781 billion increase, raising the debt limit to $8.965 trillion. All four approve.

September 2007: Congress approves an $850 billion increase, raising the debt limit to $9.815 trillion. All four approve.

Database searches revealed no demands from the four legislators that debt increases come accompanied by drastic spending cuts, as there are now. In fact, the May 2003 debt limit increase passed the Senate the same day as the $350 billion Bush tax cuts for the wealthy.

When Bush was in office, the current Republican leaders viewed increasing the debt limit as vital to keeping America’s economy running. But with Obama in the White House, it’s nothing more than a political pawn.

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10 Terrible Things Republicans Will Try to Do If They Take Over in November

Think things are bad now? Take a look at what could happen if Republicans retake Congress in November.
September 20, 2010 |

Democrats are in trouble come November. If current polling is any indication, Republicans have a good chance of reclaiming a majority in the House of Representatives and perhaps even the Senate (though the Senate is a less likely prospect). That’s not because people are wildly excited about Republicans. In fact, a recent poll shows that registered voters rate the GOP’s performance as worse than the Democrats’. But the enthusiasm gap between the parties gives the GOP an advantage; a nine-point advantage among likely voters, according to the latest NBC News/Wall Street Journal poll.

Perhaps Americans should know what’s really at stake if this batch of Republicans takes over Congress in November. Here are 10 terrible things the GOP might do:

1) Shut down government to stop health care bill. “All the Republican Congress needs to say in January is, ‘We won’t fund it,” said former Speaker of the House and likely 2012 presidential hopeful Newt Gingrich, speaking about the GOP leadership’s intent to shut down the government to stop health care reform from being enacted. He should know. He did it before, back in 1995 when the Republicans reclaimed Congress during the Clinton administration. The GOP’s government shutdown was disastrous for millions of Americans.

Since Republicans can’t directly repeal the bill — President Obama would veto such an action — they may cut funding in order to hold up its implementation, forcing a stand-off with Democrats that could lead to government shutdown. Gingrich isn’t the only one sounding this threat. Sen. Tom Coburn, R-Okla., said, “The endgame is a fight over funding.” Rep. Mike Pence called rolling back health reform a “mainstream GOP position.

Meanwhile, in an interview with TPM, Donna Shalala, Secretary of the Department of Health and Human Services during the Clinton administration, discussed the consequences of government shutdown. Services would be stopped: “Social Security checks, Medicare reimbursements…welfare checks to the state, Medicaid checks to the state.” Federal employees would be furloughed. It would “stop all new enrollees into the [Social Security] system,” Shalala said. She continued, “It bounces through: it’s grocery stores, it’s farms […] It bounces through when people don’t have money at that scale.” Shalala also pointed out that the economy is in far worse shape today than it was during the Clinton years, so the impact of government shutdown would likely be worse than in the 1990s.

2) Attempt to privatize Social Security. Back in 2005, former President George W. Bush tried to privatize Social Security by creating independent spending accounts, similar to 401Ks. He failed. But unlike Republicans today, Bush did not have the advantage of Tea-Party backed ultraconservative Republicans, some of whom honestly believe the only role of the federal government is to fight wars and protect our borders. Among the GOP’s up and comers is Rep. Paul Ryan of Wisconsin, the ranking Republican member of the House Budget Committee. He wants to create personal spending retirement accounts invested in the stock market, which sounds a lot like the current 401K system: You know, the one that lost nearly 40 percent of its value during the financial crisis.

MORE HERE

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