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How many times did George W Bush request raise in debt limit?

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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-20-11 06:43 AM
Original message
How many times did George W Bush request raise in debt limit?
http://www.cbsnews.com/8301-500803_162-4486228-500803.h...

<snip>
The bailout plan now pending in Congress could add hundreds of billions of dollars to the national debt though President Bush said this morning he expects that over time, "much if not all" of the bailout money "will be paid back."

But the government is taking no chances. Buried deep in the hundred pages of bailout legislation is a provision that would raise the statutory ceiling on the national debt to $11.315 trillion. It'll be the 7th time the debt limit has been raised during this administration. In fact it was just two months ago, on July 30, that President Bush signed the Housing and Economic Recovery Act, which contained a provision raising the debt ceiling to $10.615 trillion.

Deputy Press Secretary Tony Fratto declined an invitation to comment on the enormous jump in the national debt during Mr. Bush's presidency. He referred me to OMB the Office of Management and Budget, which tried to make the case that as a percentage of the economy, the national debt is not that big.

In its budget documents in February, OMB estimated that next year's national debt would hit $10.4 trillion which it said would amount to 69.3 percent of the gross domestic product the standard measure of the size of the economy.

......more
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rfranklin Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-20-11 06:50 AM
Response to Original message
1. Interesting...it seems that the right wingers are attributing much of this to Obama...
Edited on Sun Feb-20-11 06:55 AM by rfranklin
would the 2009 debt limit have actually been set during the Bush administration? Because the right wingers are trying to claim that the debt limit has doubled under Obama. I suspect they are fudging the facts as usual.

With no fanfare and little notice, the national debt has grown by more than $4 trillion during George W. Bush's presidency.

It's the biggest increase under any president in U.S history.

On the day President Bush took office, the national debt stood at $5.727 trillion. The latest number from the Treasury Department shows the national debt now stands at more than $9.849 trillion. That's a 71.9 percent increase on Mr. Bush's watch.

The bailout plan now pending in Congress could add hundreds of billions of dollars to the national debt though President Bush said this morning he expects that over time, "much if not all" of the bailout money "will be paid back."

http://www.cbsnews.com/8301-500803_162-4486228-500803.h...
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-20-11 07:01 AM
Response to Reply #1
2. Rather than raise the debt limit, the Repubs are ready to shut down the government.
If the debt limit is raised. All at once, it is a "crisis". For eight years, it wasn't as much as an after-thought.
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midnight Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-20-11 07:27 AM
Response to Original message
3. K&R I don't have an answer, but this is a good question...
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Badfish Donating Member (543 posts) Send PM | Profile | Ignore Sun Feb-20-11 07:32 AM
Response to Original message
4. Raised it 7 times in 8 years.
Didn't have to the first year because he was handed a surplus, otherwise it would be 8 for 8
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-20-11 07:32 AM
Response to Reply #4
5. Yep.
It took him a couple of years to destroy the surplus.
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