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The Debt Ceiling Hostage Crisis As a Teachable Moment

PerrspectivesOregon technology marketing executive and democratic activist Jon Perr in another excellent post on his Perrspectives blog turns the debt ceiling hostage crisis into a teachable moment about Republican perfidy and hypocrisy when it comes to taxes, deficit spending, and the national debt.

. If nothing else, the debt ceiling crisis provided what Barack Obama is so fond of calling a "teachable moment." Hopefully, that extends to the President himself. After seeing his nominees blocked, his legislation filibustered and popular upper-income tax increases delayed by Republicans who withheld their support from his watered down stimulus and health care programs, President Obama nevertheless continued to seek common ground with those whose only goal remains his political destruction. The result was as painful as it was predictable.

As for the rest of us, here are 25 things we learned during the debt crisis.

(1) We learned that Republicans really care about the national debt, but only when a Democrat is in the White House. As Dick Cheney put it, "Reagan proved deficits don't matter."

(2) We learned that the national debt tripled under Ronald Reagan, forcing him to raise the debt ceiling 17 times. Overwhelmed by the torrents of red ink unleashed by his supply-side tax cuts of 1981, Reagan raised taxes eleven times while in office. (His deficit reduction initiatives of 1982, 1984 and 1987 relied on over 75% in new tax revenue.) It's no wonder Reagan called the mountain of debt he bequeathed to America his greatest regret.

(3) We learned that George W. Bush nearly doubled the national debt, leaving Barack Obama a $1.2 trillion annual deficit and almost $11 trillion in debt on January 20, 2009.

...

Definitely read the whole thing to find out just how cynical and duplicitous the Republicans in congress were during their manufactured debt ceiling crisis.

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