Reagan and the Debt Ceiling
July 20, 2011 - by
Republicans who venerate Ronald Reagan might be interested in what he said as President about raising the debt ceiling.
“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.”
By the way, The Washington Post notes that “Reagan presided over 18 increases in the debt ceiling during his Presidency.”
Reagan and the Debt Ceiling
July 20, 2011/
Republicans who venerate Ronald Reagan might be interested in what he said as President about raising the debt ceiling.
“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.”
By the way, The Washington Post notes that “Reagan presided over 18 increases in the debt ceiling during his Presidency.”