House Democrats have released a new video that shows that former President Ronald Reagan would side with Obama and the Dems in the debt ceiling debate.
Here is the video:
The House Dems used an excerpt from Ronald Reagan’s September 26, 1987 radio address,
Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility – two things that set us apart from much of the world.
It is not a surprise that Ronald Reagan held a similar position as today’s Democrats on the debt ceiling issue. After all, this is a president that raised taxes 11 times during his time in the White House. Trickle down economics depended on deficit spending in order to both be able to cut taxes and increase spending. If Ronald Reagan was alive today, he would be hated by the tea party.
Michele Bachmann and her tea party caucus love to invoke Reagan, but they would have despised him for his willingness to raise the debt ceiling.
Reagan’s position on raising the debt ceiling wasn’t a one-time stance. In November of 1983, President Reagan wrote to Republican Senate Majority Leader Howard Baker:
One again the right wing myth of Ronald Reagan does not match up with his actual record. Besides raising taxes, Reagan tripled the deficit and granted amnesty to 3 million undocumented immigrants and their families.
Ronald Reagan’s position on the debt ceiling illustrates how far right the Republican Party has drifted. In his day, Reagan was considered a far right conservative. Today, Ronald Reagan would be viewed as a moderate Republican or a very conservative Democrat. The vast majority of the American people understand that revenue must be raised. Seventy four percent of Republicans agree that revenue must be raised along with the debt ceiling.
Were he alive today, President Reagan would agree with the Democrats and Barack Obama on taxes and the debt ceiling.
Let that sink in, and realize how out of touch the tea party Republicans in the House must be if they really believe that they are speaking for the American people.