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The “Unofficial” Republican Guide to the Debt Ceiling Debate

by Jerry Robinson on July 22, 2013 · 7 comments

The “Unofficial” Republican Guide to the Debt Ceiling Debate
by Jerry Robinson

Ahhh, the sheer futility of politics…

It’s that time of year again… Time to raise America’s debt ceiling.

Now that Washington has passed trillions of dollars of new spending bills, it’s time to decide whether to pay for those items.

To figure out which side of this debate you should be on, ask yourself: Who exactly runs Washington these days?

A Barack Obama-controlled White House and a Harry Reid-controlled Senate tip the scales in favor of the Democrats.

So, if you are a Republican, you should definitely be against increasing the debt ceiling.

To help simplify this, just remember: If you are a Republican, the only time that you are “for” raising the debt ceiling is when a Republican majority is running Washington.

To put it another way, when Democrats are running Washington, debt ceiling increases are bad. And when Republicans are running Washington, debt ceiling increases are good.

For example: From 2000-2006, when Republicans were running the White House, the Senate, and the House… This would have been a perfect time for Republicans to be “for” increasing the debt ceiling.

And during this time period, the Republicans raised the debt ceiling no less than four times.

In June 2002, Republicans raised the debt ceiling to $6.4 trillion(This was a very important increase. Military jobs were at stake and… The point is this debt ceiling increase was a good thing.)

In May 2003, Republicans raised the debt ceiling to $7.384 trillion (Excellent! The Democrats almost didn’t let the GOP pass the debt ceiling increase. It was close, but our Republican knights in shining armor saved the day and raised the debt ceiling!)

In November 2004, Republicans raised the debt ceiling to $8.184 trillion(Wonderful!)

In March 2006, Republicans raised the debt ceiling to $8.965 trillion(Whew, fantastic!)

In fact, here’s a video showing a slew of Democrats Republicans talking about the immediate urgency to raise the debt ceiling…

Of course, it should come as no surprise that while the Republicans were busy pumping the debt ceiling levels ever higher, many Democrats were voting against those “evil” debt ceiling increases.

Here’s a brief video showing Senator Harry Reid voting against the Republican-led debt ceiling increase in March 2006.

And here’s then-Senator Barack Obama railing against the Bush administration’s constant debt ceiling limit increases.

Sadly, the Democratic calls for “fiscal responsibilty” were completely ignored by the spendthrift Republicans.

Later, in September 2007, the debt ceiling was raised to $9.815 trillion… (This one was good!)

Then in July 2008, the debt ceiling increased to $10.615 trillion… (Like McDonald’s, I’m loving it! You must learn to embrace the vast importance of the July 2008 debt ceiling increase, young GOPer.)

Finally, in October 2008, President Bush Jr. signed off on another debt ceiling increase, this time raising it to $11.315 trillion. (Way to go, Bush!)

These were great times for Democrats to be against debt ceiling increases and for Republicans to be for them.

But things suddenly changed for Republicans in 2009.

With Bush Jr. gone and a Democratically-controlled White House, Senate, and House, it was probably time for a shift in the Republican attitude toward the whole debt ceiling issue. (I mean really, how many years in a row must we increase the debt ceiling, right?)

In February 2009, just one month after he was sworn into office, President Obama signed off on an increase in the debt ceiling of $12.104 trillion(Young GOP’er, take note that it was under Barack “Hussein” Obama’s watchful eye that the U.S. debt ceiling first breached the unbelievably high level of $12,000,000,000,000.00. That’s right, when the Democrats had complete and total control of Washington, they did exactly the opposite of what Republicans would have done. That is, they raised the debt ceiling! Oh, the arrogance!)

Later that same year, in December, Obama and Co. wasted no time approving yet another increase in the debt ceiling. Listen dear GOP’er, it was the Democrats that were calling for a new debt ceiling level of $12.394 trillion… (What was Obama thinking? Despite the consistent cries of numerous GOP Senators and Congressmen, Obama seemed fixated upon raising the debt ceiling. This is sheer financial insanity!)

Then, in February 2010, Mr. Obama and the Congress approved a hike in the debt ceiling up to $14.294 trillion(This of course, was completely unacceptable!)

And now, in our post-fiscal cliff era, the centers of power in Washington — including this country’s vast corporate interests, the military-industrial complex, and the corporate-owned lapdog media – are rushing the entire country headlong into our next fiscal crisis.

Later this year, Washington will have to make a choice: To raise the debt ceiling again or not?

It’s a real nail biter, this one is…

Remember young GOP’er, Democrats currently control Washington.

Republicans, you know what to do.

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Jerry Robinson
Jerry Robinson is the author of Bankruptcy of Our Nation: Your Financial Survival GuideIn 2010, Jerry created FTMDaily.com with a mission to wake up Americans and share with them the principles of true financial and spiritual liberty. Every Tuesday he hosts the FTMWeekly Radio, a podcast covering economic and geopolitical topics.Jerry has been blessed to be able to lecture around the globe on the topic of economic and geopolitical trends. He holds a degree in Economics from the University of Tulsa and resides in the beautiful Ozark mountains with his beautiful wife and son. Jerry is a licensed life insurance agent. See more
Jerry Robinson
Jerry Robinson
  • http://Goldwerewolf.typepad.com Gold Werewolf

    There is, laughably, a video of Senator Obama railing against raising the debt limit as well. This all ties in very nicely with the false left-right paradigm.

    • http://ftmdaily.com Jerry Robinson

      Yeah, I am sure one exists. However, I did not find one in my initial search. If you have a link, send it over and I’ll post it. Thanks!

    • Tim

      There is a restaurant, on one side of the restaurant are Republican waiters, and on the other are the Democratic waiters. All of the waiters get their customer’s food from the same Wall Street kitchen.

      • http://ftmdaily.com Jerry Robinson

        Yes Tim. But the Republican waiters are nicer. =)

  • http://www.solonsays.com Solon

    I wish you had added the obvious conclusion to your remarks. The debt ceiling is the enabler of the national debt and the surreptitious mechanism used to fund special interest and tax avoidance. If you factor out the revenues and outlays of the entitlement programs, only 42% of government spending is actually funded.

    • http://ftmdaily.com Jerry Robinson

      Good point Solon…

  • Derak

    The unstated conclusion to this is that the democrats that were so against raising the debt ceiling under Bush are the same calling it “irresponsible” and “deadbeat” not to raise it now.

    Obviously, republicans disagree with democrat pork and democrats disagree with republican pork, but either party, once in power, wants more power in the form of more money to buy supporters.

    If you are sick of the lack of representation of common sense in Washington, then I would do as I’ve already begun doing, and move money/savings into precious metals or possibly other commodities, as well as stock up food provisions for yourself and your family.

    We live in a world economy where much of our goods are imported and our oil is put on the world market before we purchase it. Our current QE is flooding 85 billion a month into the economy until unemployment drops to 6.5%, with half of that printed money being newly printed and used to buy treasury bonds. So, we print money to trade to the gov for an IOU that is not turned in, and the gov spends that money immediately. The other half of the 85 billion a month is trading short term treasuries for long term, essentially admitting that current IOUs will not be turned in. If this goes on for a full year, then we will have printed over half a trillion dollars in a year to be spent immediately on operating expenses, buying votes, and paying interest on previous debt to foreign countries. At the same time, over 1 Trillion in long term IOUs will be generated by our government to the FED for printed money and short term IOUs combined. Remember, the short term IOUs are being traded for long term, basically admitting that the gov will not repay them any time soon.

    Now, how long will it take for foreign countries to lose respect for our money and demand more of it in exchange for goods/services/native currency, like they would lose respect for the money of a banana republic? Remember when China dumped US bonds, the IOUs, enough to make Japan the number one foreign holder of US debt? The loss of respect of the dollar has already begun because when we want to spend more money, we just print more of it, and previous number one borrower, China, is surely wise to the fact that we are paying interest with printed money while asking to borrow more, but they put up with this because much of the money ends up spent on Chinese goods, flowing back to China. So we borrow money just to give it back again and still owe the money and print more to pay the interest.

    The druggee that borrows money from peter to pay paul for money borrowed for drugs doesn’t come to a good end.