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Thread: Democrats propose $1.9T increase in debt limit

  1. #21
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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by Dirty Harry View Post
    Like I said the economy was booming when Bush raised the ceiling. He should have been paying down the debt.
    Since Congress appropriates the money, how would he do that?
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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by American View Post
    Since Congress appropriates the money, how would he do that?
    Well, he did have the veto power and congress was also republican for 6 of those 8 years. Republicans have proven over and over again that they can be just as fiscally irresponsible as democrats, but they have so many fooled.
    This from his first term while the GOP controlled congress.

    Last edited by Dirty Harry; 01-22-10 at 09:30 AM.

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    Re: Democrats propose $1.9T increase in debt limit

    Right now is the best time to be spending money. Once the economy begins to grow again and the fed raises interest rates we will have to make a real effort to pay off the debt. That means raise taxes. Otherwise our excessive debt will begin to crowd out the private economy. We cannot continue to use this notion that if we lower taxes we will get higher revenues, it will bankrupt the country this time if we do it.

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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by drz-400 View Post
    Right now is the best time to be spending money. Once the economy begins to grow again and the fed raises interest rates we will have to make a real effort to pay off the debt. That means raise taxes. Otherwise our excessive debt will begin to crowd out the private economy. We cannot continue to use this notion that if we lower taxes we will get higher revenues, it will bankrupt the country this time if we do it.
    It really is too late to do anything. We have dug the hole too deep with all the out of control spending and borrowing of the last decade. It doesn't matter if you raise or lower taxes. Not to mention all the jobs that have been lost forever.

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    Re: Democrats propose $1.9T increase in debt limit

    Quote Originally Posted by American View Post
    Since Congress appropriates the money, how would he do that?
    It's true that only Congress can tax and only Congress can spend. But the power of a President, especially when his own party controls the House and the Senate, is a strong influence on how Congress behaves. The President can still submit legislation to Congress and he has a whole staff of people working for him that do nothing but work with Congressman and Senators.

    President Bush had every opportunity to cut spending. Neither side, Democrat or Republican would have been able to muster the votes to override a veto from Bush on a spending bill. I don't "think" they could have anyway...

    And all of that ignores the Republicans that completely forgot about cutting spending when they held the power to do so.
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