Wednesday, January 9, 2013

Current GOP leaders gave Bush 'clean' bills to hike debt ceiling

As McClatchy and the New York Times among others have documented, senators and representatives in the minority party have often voted against debt ceiling increases. Whether motivated by opposition to larger spending or tax legislation, or as a symbolic vote to embarrass the president and his Congressional majority (as Sens. Obama and Reid did in 2006), the 40 debt ceiling increases since 1980 have rarely been unanimous.

Which is what makes the GOP's hostage-taking so unique. Never before has the threat to block a debt limit increase been coupled with one party's intent and ability to actually do it. (As Reid described his own grandstanding, "The Republicans were in power'there were more of them.") After all, while Republican Speaker John Boehner has the numbers to deny a debt ceiling increase in the House, Senate Minority Leader Mitch McConnell can prevent it from even coming to a vote. Of course, when George W. Bush sat in the Oval Office, GOP leaders including Boehner, McConnell, Paul Ryan, Eric Cantor and John Cornyn didn't just vote for seven increases in the debt ceiling. In November 2004, they all voted for the very kind of "clean" debt ceiling bill they refuse to offer President Obama now.

After having increases the national debt by 40 percent since his inauguration in January 2001, President George W. Bush in October 2004 called for his fourth hike in the nation's borrowing authority. His Treasury Secretary John Snow warned, "Given current projections, it is imperative that the Congress take action to increase the debt limit by mid-November," adding that his arsenal of fiscal tools, including tapping money intended for the civil service retirement fund, "will be exhausted."

But as the New York Times explained on November 17, 2004, Bush had to wait for his debt ceiling increase for a very simple reason:

Though an increase in the debt ceiling was never in doubt, Republican leaders in both houses of Congress postponed action on it last month, until after the elections, to deprive Democrats of a chance to accuse them of fiscal irresponsibility.
With his reelection safely secured, Republicans delivered Bush's debt ceiling increase in a stand-alone bill, with no conditions, no threats and no poison pills.

(Continue reading below the fold.)

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