Republican Senator Mike McConnell has offered a compromise solution in order to avoid the calamity of being unable to pay our debt. He suggests raising the debt ceiling by a Trillion on condition that Obama reduce government spending by $1.2 Trillion and then take the debate on debt ceiling to the public in the election of 2012. His proposal was greeted with howls of anger by Republican members of the House of Representatives. Congressman Jim Jordan echoed the prevailing view of his Tea Party peers: “Let’s have a national debate not that cop out like the McConnell plan.” OK, let’s have a debate;
1. In 2001, the President Bush was given by outgoing President Clinton a budget which had a surplus of over $200 Billion. He then proceeded to cut taxes, get into a war and the result was a debt of over $400 billion.
2. Each time President Bush–and Ronal Reagan, God of right wing Republicans– raised the national debt not a single Republican opposed the move nor did any link debt ceiling with government reductions.
3. Bush inherited a national debt of $5 Trillion and handed over to Obama a national debt of over $11 Trillion.
4. St. Ronald Reagan cut taxes and then proposed over ten tax increases to pay off the debt stemming from cutting taxes.
The real problem facing America is failure on the part of President Obama to educate Americans about why we are horribly in debt.