No Such Thing As An Opinion!

July 18, 2011

Flashback to the Reagan debt ceiling negotiations!

On May 12, 1987, The New York Times ran an article titled:


The article states:

"Warning of dire financial consequences, the White House urged Congress today to raise the national debt ceiling before the Government runs out of authority to borrow money..."

'We cannot overestimate the effect of such a dereliction of duty...'

But a number of conservative Republicans refuse to heed the Administration, and White House legislative strategists say they do not have the votes to assure passage of such a measure."

"The debt ceiling - now at $2.3 trillion - is the amount of money the Government is allowed to owe its creditors."

"The problem is that conservative Republicans have never been eager to raise the debt limit, and see the vote as an opportunity to assail the Democrats as big spenders."

Sound familiar?

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