Thursday, July 21, 2011

Reagan-Don't Play Games With The US Debt Ceiling

I couldn't stand (and still can't) the racist ground Ronald Reagan walked on, but even a broken clock is right twice a day and this is one of those moments. 

I had to chuckle when I heard about the Democrats deploying another weapon in their effort to get the conservafools to come back from the brink of walking over the fiscal cliff:  The Gipper.  

They have released his November 1983 letter to then Senate Majority Leader Howard Baker urging his help getting his Senate colleagues on board with passing a bill to raise the debt ceiling.   It was done 18 times during Saint Ronald of Reagan's presidency.

Here's a 1987 radio addresses on that same topic.



And yet, the Republifools hate President Obama so much that in their zeal to make him a one term president, they are willing to play a dangerous game with the full faith and credit of the United States when even their corporate backers are telling them to chill out.

It's a political game that Reagan warned what the consequences are of playing it:.

The full consequences of a default — or even the serious prospect of default — by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of the dollar in exchange markets. The Nation can ill afford to allow such a result. The risks, the costs, the disruptions, and the incalculable damage lead me to but one conclusion: the Senate must pass this legislation before the Congress adjourns.

The question is are the stupid azz Republicans listening? 



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