Time traveler Obama went to 1919 and started all this.

Ka-ching!

The ignominious journey of the US debt ceiling from 1919 to present. Seven requests in Bush II’s term (8 years). Four requests from Clinton (8 years). Four in Bush I (4 years). Seventeen in Reagan’s term (8 years).  FDR only asked 8 times in 11 years – through the Depression and World War II.

Damn that Obama. Trying to pay their bills.

If I’ve read this correctly, we didn’t raise the debt ceiling at all between 1919 (for WWI)and 1939.

  • February 2010 – $14.294 trillion
  • December 2009 – $12.394 trillion
  • February 2009 – $12.104 trillion
  • October 2008 – $11.315 trillion
  • July 2008 – $10.615 trillion
  • September 2007 – $9.815 trillion
  • March 2006 – $8.965 trillion
  • November 2004 – $8.184
  • May 2003 – $7.384 trillion
  • June 2002 – $6.4 trillion
  • August 1997 – $5.95 trillion
  • March 1996 – $5.5 trillion
  • August 1993 – $4.9 trillion
  • April 1993 – $4.37 trillion
  • November 1990 – $4.145 trillion
  • October 1990 – $3.23 trillion
  • November 1989 – $3.1227 trillion
  • August 1989 – $2.87 trillion
  • September 1987 – $2.8 trillion
  • August 1987 – $2.352 trillion
  • July 1987 – $2.32 trillion
  • October 1986 – $2.3 trillion
  • August 1986 – $2.111 trillion
  • December 1985 – $2.0787 trillion
  • November 1985 – $1.9038 trillion
  • October 1984 – $1.8238 trillion
  • July 1984 – $1.573 trillion
  • May 1984 – $1.52 trillion
  • November 1983 – $1.49 trillion
  • May 1983 – $1.389 trillion
  • September 1982 – $1.2902
  • June 1982 – $1.1431 trillion
  • September 1981 – 1.0798 trillion
  • September 1981 – $999.8 billion
  • February 1981 – $985 billion
  • December 1980 – $935.1 billion
  • June 1980 – $925 billion
  • September 1979 – $879 billion
  • April 1979 – $830 billion
  • August 1978 – $798 billion
  • October 1977 – $752 billion
  • June 1976 – $700 billion
  • March 1976 – $627 billion
  • November 1975 – $595 billion
  • February 1975 – $577 billion
  • June 1974– $495 billion
  • December 1973 – $475.7 billion
  • October 1972 – $465 billion
  • March 1972 – $450 billion
  • March 1971 – $430 billion
  • June 1970 – $395 billion
  • April 1969 – $377 billion
  • June 1967 – $358 billion
  • March 1967 – $336 billion
  • June 1966 – $330 billion
  • June 1965 – $328 billion
  • June 1964 – $324 billion
  • November 1963 – $315 billion
  • May 1963 – $309 billion
  • July 1962 – $308 billion
  • March 1962 – $300 billion
  • June 1961 – $298 billion
  • June 1960 – $293 billion
  • June 1959 – $295 billion
  • September 1958 – $288 billion
  • February 1958 – $280 billion
  • July 1956 – $278 billion
  • August 1954 – $281 billion
  • June 1946 – $275 billion
  • April 1945 – $300 billion
  • June 1944 – $260 billion
  • April 1943 – $210 billion
  • March 1942 – $125 billion
  • February 1941 – $65 billion
  • June 1940 – $49 billion
  • December 1939 – $45 billion
  • December 1919 – $43 billion

15 responses to “Time traveler Obama went to 1919 and started all this.

  1. Glow in the dark Boehner, has cancelled the vote for this evening, because there weren’t enough Republicans to cast their votes, and 25 GOPers have already jumped ship.

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    • Don – I just listened to the new head of the IMF on The News Hour – she tried to be restrained, but she was appalled.

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      • I’ve been around since the Truman presidency, and I don’t ever remember seeing and hearing an inept Congress as this one. And as long as the silly ass Tea Party clowns are in Washington, it is only going to get worse.

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        • I’ve been here too Don and you’re right. Never seen anything it, but I wouln’t put it all on the Tea Party. I’d date it back to ’94, when the republicans took the house, tapped Gingrich, wrote the Contract on America, made Rush Limbaugh an honorary member of that congress and impeached Clinton. Been downhill ever since.

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  2. Ms. Holland,
    I dispute your premise that President Obama is not responsible for large deficits . My figures have President Obama running up in 3 years twice the deficit that Bush ran up in his whole 8 years . If you have better sources I would love to see them .

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  3. You make good, valid points. We can also through Fox News into the mix, as it got its start back in the 90s, with poison mouth Roger Ailes as the commander of the Republican water carrying brigade.

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    • Talk radio and FOX News have basically poisoned the discourse. My own family was torn apart when my then- 50-year old brother discovered Limbaugh and realized that we – his larger famlily- were the ‘enemy’. It’s been ugly and heartbreaking. He was always conservative and he and I used to have great discussions about the big issues, even though we had such different perspectives. But after Limbaugh, that all ended. He started saying things like “I don’t need to listen to your liberal bullshit”. So sad.

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  4. Alan has the right of it. Obama’s desire to raise the debt ceiling is to pay off his and his Congress’ bills, not his predecessors; they raised the debt ceiling on their own to do that. 😦

    As for the history of it – Things got worse in 1939 because they passed laws to greatly expand what sort of debt instruments the federal government could use and sell.

    That’s also why there’s no signs of a debt limit increase between 1919 – 1939. It wasn’t until 1339 that they aggregated the various separate limits on the individual types of allowed debt instruments into one national debt ceiling.

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    • I was wondering about thatj 30 year gap. Thanks for splainin’ to me.

      As for the bills Obama wants to ‘pay off’, the majority of it is interest on the debt and the entitlements. Blame all around, all around.

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      • No problem and you’re welcome.

        Sadly, Social Security is the biggest of those entitlements and it never should have been one at all. It’s only because the government decided to borrow SS’s funds that is so.

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        • Don’t understand what you mean when you say that gov’t borrowing from SS fund is what made it an entitlement? I’m missing something, but there’s nothing new about htat . . .

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  5. Moe, SS is a trust fund, not an entitlement, its only in name that its an entitlement, meaning that is what the Republicans want you to believe it is.
    Remember it is a trust fund.

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    • It’s certainly supposed to be but, as I’ve said before, the federal government decided to raid it decades ago and now it’s mostly based upon their debt. They sell a big chunk of the national debt to SS’ fund.

      That clouds the issue up a lot and puts SS on the cutting block when, if it’d been kept closer to its original form and plan, it wouldn’t have been.

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