5 ms·
So, the same usual debt ceiling showdown as always. Nothing new. https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-se
by chrisbolt 5y ago
So, the same usual debt ceiling showdown as always. Nothing new.
https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/debt-limit https://home.treasury.gov/policy-issues/financial-markets-fi...
> Congress has always acted when called upon to raise the debt limit. Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents. Congressional leaders in both parties have recognized that this is necessary.
- syops 5y agoMy recollection is that the showdown aspect is something new in the sense that it has happened only under a Democrat President and started in Obama's presidency.
- kahrl 5y agoDo you mean "shutdown?" The first shutdown occurred in 1980 under the Carter administration. There's been 20-ish shutdowns of varying degrees since then. https://en.wikipedia.org/wiki/Government_shutdowns_in_the_United_States https://en.wikipedia.org/wiki/Government_shutdowns_in_the_Un...
- syops 5y agoShutdowns have occurred due to no appropriation bill being passed before the previous one expires. Raising the debt ceiling is a different thing. It used to be a routine thing to raise the ceiling because the monies have been appropriated. It was only under Republicans in the Senate trying to sabotage Obama that it became an issue.
- deleted 5y ago[deleted]