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Listen To Ronald Reagan Side With The Democrats On The Debt Ceiling
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.
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10 Responses to Listen To Ronald Reagan Side With The Democrats On The Debt Ceiling
CLARENCE SWINNEY
Jul. 19th, 2011 at 2:23 pm
RONALD REAGAN RECORD
INCREASED SPENDING 80%
INCREASED DEBT 180%
DECREASED CARTER RECORD JOB CREATION BY 24%
INITIATED OUR INVOLVEMENT IN FOUR FOREIGN CONFLICTS
HERE IS COMPARISON ON SUCCESS
Comparing Democrat’s hero-CLINTON—versus Republican’s hero–REAGAN
———————————————————————————————————–
1.JOBS—grew by 43% more under Clinton.
2.GDP—grew by 57% more under Clinton.
3.DOW—grew by 700% more under Clinton..
4.MARKET CAP INCREASE—Clinton + 330%–Reagan + 136%
5.NASDAQ-grew by 18 times as much under Clinton.
6.S&P500—grew by 370% under Clinton and 140% under Reagan
7.SPENDING–grew by 28% under Clinton—80% under Reagan.
8.DEBT—grew by 43% under Clinton—187% under Reagan.
9. DEFICITS—Clinton got a large surplus–grew by 112% under Reagan.
10.NATIONAL INCOME—grew by 100% more under Clinton.
11.PERSONAL INCOME—grew by 110% more under Clinton.
12.MEDIAN FAMILY INCOME-grew by 75% more under Clinton
13. DEFENSE BUDGETED-Clinton -2311B—Reagan-2062B (current $)
14.UNEMPLOYMENT—AVG—Clinton 5.2%–Reagan 7.6%
(I admit averaging averages can be dumb. I dumb.)
SOURCES—Bureau of Labor Statistics (www.BLS.Gov)–Economic Policy Institute (EPI.org)—Global & World Almanacs from 1980 to 2003 (annual issues)
www.the-hamster.com (chart taken from NY Times)
National Archives History on Presidents. www.nara.gov
LA Times 10-11-00 on Market–www.Find articles.com
Federal Budget.Com 2009
A vote for a Conservative is a vote for Less Success.
A vote to reduce the Standard of Living for all Americans.
Recall 1920’s and Wall Street under Conservative control?
Recall 2000-2008 and Wall Street under Conservative control?
Want more of those years? It will take many years to recover.
cswinney2@triad.rr.com
political historian
Lifeaholics Of America
author-unpublished
“All American Party”
How Democrats created a great Middle Class
and Conservatives are determined to destroy it
CLARENCE SWINNEY
Jul. 19th, 2011 at 2:36 pm
1945-TO 1980=GREAT MIDDLE CLASS YEARS
The bottom 20% gained more, percentagewise, than top 20% in Wealth
and Income.
1980-2009 Great Wall Street Rich years
How
20 years 3 conservative presidents-18 years conservative Senate, 12 years conservative House and 6 years Total Control
What happened?
600B Budget to 3600B
1000B Debt to 10,000B
240B surplus to 1400B Deficit
218,000 jobs per month to 99,000
initiated involvement in 10 foreign conflicts
took America from Peace On Earth to Hell On Earth by alienating 1500 Million Muslims
told 935 (documented) lies to lead us into invading a destitute unarmed nation via a shock nd awe stupid display of power that killed many and scared thousands of little children.
olduglymeanhonestpoliticalhistorianlifeaholicsfamerica
madmadmadmad at Inequality in America why are not you?
Today 5% own 63% of our Wealth–
2% own 50% of financial wealth and get 30% all individual income
80% own 7% of financial wealth banana anyone?
comments to cswinney2@trid.rr.com
Shiva (Moderator)
Jul. 19th, 2011 at 2:50 pm
I don’t think the tea party likes anybody. And quite frankly the GOP is only interested in breaking Obama’s presidential time in office. If they want to play politics with America’s credit than let them do it someplace else because they are not representing Americans when they do it.
It is obvious that representing the tea party is also not representing America.
CLEO17
Jul. 19th, 2011 at 3:08 pm
THE GOP represents no one but themselves…the CORPORATIONS and THE OIL INDUSTRY. We need to boot the whole lot out. Its just incredible to me how Americans are letting them destroy our standing the whole time trying to blame President Obama. The world is so nervous about the GOP that they are praying to God they go away and let our President do his job. Saying it doesn’t make it so GOP. YOU LIE AND YOU ARE THE BIGGEST TRAITORS THIS COUNTRY HAS EVER WITNESSED FULL FACE. No matter what happens A GOP WILL NEVER EVER SEE THE INSIDE OF THE WHITE HOUSE.
Enjay in E MT
Jul. 19th, 2011 at 6:19 pm
The GOP is suffering from dementia from celebrating too much under
King George, the II. Who gave 10 year tax cuts to the wealthy while buying TWO wars on the national charge card under his ‘leadership’. Cronies got no bid contracts worth mega-bucks and didn’t complete half the work before submitting bills for ‘over-runs’. Billions of US Currency shrunk wrapped on pallets with NO accounting.
I believe this country needs to get its fiscal house in order. The first step is GOP acknowledge the Bush cuts will expire and produce a comprehensive JOBS bill.
Tom
Jul. 21st, 2011 at 2:38 pm
Too bad no one read the rest of the speech after these comments were made. Reagan went on to scold the Congress about raising taxes, spending too much, and not balancing the budget. Reagan did sign some budgets that he shouldn’t have. He had to pull a few knives out of his back, because the Dems didn’t live up to any of the promises they made.
Shiva (Moderator)
Jul. 21st, 2011 at 3:40 pm
LOL
Neal
Jul. 21st, 2011 at 5:37 pm
In fact, he said that Congress should pass a balanced budget amendment in the next few sentences – something President Obama, in his infinite constitutional knowledge, threatened to veto (the President can’t veto a passed amendment).
Shiva (Moderator)
Jul. 21st, 2011 at 6:44 pm
Whoa. Take a look at the garbage that goes along with that current supposed balanced budget amendment. No president would sign is and expect to ever get elected again
Reagan raised the debt ceiling 19 times, gave big corporations tax rate drops and started us on the road to where we are today. I am not sure that anything he said is relevant any time any wheres.