{"id":6727,"date":"2011-07-16T21:35:46","date_gmt":"2011-07-17T02:35:46","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=6727"},"modified":"2011-07-16T21:54:56","modified_gmt":"2011-07-17T02:54:56","slug":"who-raised-the-debt-ceiling","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2011\/07\/16\/who-raised-the-debt-ceiling\/","title":{"rendered":"Who Raised The Debt Ceiling"},"content":{"rendered":"

The Washington Post with Bloomberg<\/em> have a brief article,\u00a0 Who Raised The Debt Ceiling<\/strong><\/a>, with a very interesting graph.<\/p>\n

\"Graph<\/p>\n

Notice the rise of the debt start to rollover under Clinton. The Republicans may have had control of Congress at the time, but the leadership fought Clinton tooth and nail. They claimed his raising tax revenue would kill the economy and increase the deficit. Clinton got his way anyway with almost all the Democrats and a few Republicans voting for what he wanted. History tells us Clinton was right and the Republicans who fought him were completely wrong.<\/p>\n

\n

From the post 1993 Deficit Reduction: a Lesson on Tax Policy<\/a><\/strong> by Charles M. Kelly, I selected the following part.<\/p>\n

1993 Deficit Reduction: A lesson on taxes, economic growth, and jobs\u2014as reported by America\u2019s premier CONSERVATIVE<\/i> financial daily news publication:<\/font><\/h2>\n

<\/p>\n

The Wall Street Journal<\/cite> <\/h2>\n

<\/font><\/p>\n

<\/p>\n

     Conservative politicians always threaten the public that, if Congress or the President raises taxes on the wealthy, the economy will slow down, unemployment will go up, and workers’ wages will go down.\n <\/p>\n

     Conservatives\u2019 hidden agenda: we want to allow our wealthy supporters\u2014the ones who benefited most from the economic policies that forced huge sacrifices onto American workers during the 1980s and 90s\u2014to be able to keep more of their money.\n <\/p>\n

     Reality: Raising taxes on the wealthy is much more likely to reduce the deficit and make more money available to proactively solve America\u2019s problems\u2014and save money in the long run. In addition, it may have absolutely no negative effect on economic growth, jobs or wages.\n <\/p>\n

     Here\u2019s what conservative politicians said about the 1993 deficit reduction legislation that raised taxes on the top 1.2% of our wealthiest citizens: \n <\/p>\n<\/p>\n

“Clearly, this is a job-killer in the short-run. The impact on job creation is going to be devastating.”
\n

\u2014Rep. Dick Armey, (Republican, Texas)<\/center><\/p>\n

“The tax increase will\u2026lead to a recession\u2026and will actually increase the deficit.” <\/p>\n

\u2014Rep. Newt Gingrich (Republican, Georgia)<\/center><\/p>\n

“I will make you this bet. I am willing to risk the mortgage on it\u2026the deficit will be up; unemployment will be up; in my judgment, inflation will be up.” <\/p>\n

\u2014Sen. Robert Packwood (Republican, Oregon)<\/center><\/p>\n

“The deficit four years from today will be higher than it is today, not lower.”\n <\/p>\n

\u2014Sen. Phil Gramm (Republican, Texas)<\/center><\/p>\n

“The President promised a middle-class tax cut, yet he and his party imposed the largest tax increase in American history. We hope his higher taxes will not cut short the economic recovery and declining interest rates he inherited\u2026 Instead of stifling growth through higher taxes and increased government regulations, Republicans would take America in a different direction.” <\/p>\n

\u2014Sen. Robert Dole (Republican, Kansas)<\/center><\/p>\n<\/blockquote>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Washington Post with Bloomberg have a brief article,\u00a0 Who Raised The Debt Ceiling, with a very interesting graph. Notice the rise of the debt start to rollover under Clinton. The Republicans may have had control of Congress at the time, but the leadership fought Clinton tooth and nail. They claimed his raising tax revenue […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":["post-6727","post","type-post","status-publish","format-standard","category-stevegsposts","czr-hentry"],"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/6727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=6727"}],"version-history":[{"count":9,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/6727\/revisions"}],"predecessor-version":[{"id":6737,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/6727\/revisions\/6737"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=6727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=6727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=6727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}