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Political Hypocrisy – History Of The Debt Ceiling

29 Jan 2013

Political Hypocrisy – History Of The Debt Ceiling

As Dylan Matthews and Ezra Klein wrote on the Post’s Wonkblog, “Between 1940 and 2010, we have increased the debt limit more than 70 times, and from 1979 to 1995, a House rule proposed by Rep. Richard Gephardt made increases automatic by raising the ceiling whenever new spending is approved. The new Republican majority repealed this rule in 1995 in order to use raising the debt ceiling as leverage in getting President Clinton to agree to spending cuts. Few Data points — 1.Opposition to raising the debt ceiling is often partisan, with opposition coming from either party, based on who is in the White House. Many House Republicans have voted for raising the ceiling, just as President Obama voted against it when he was a Senator; and, 2. Divided government has necessitated support from both parties to raise the limit.  Details of the House votes from the non-partisan Sunlight Foundation. http://bit.ly/WlIoNH

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