If Clinton left a surplus, why did they need to raise the debt ceiling in 1996?Answer Question
So in 1978, Dick Gephardt quite sensibly tied the debt ceiling to the budget: Once Congress decided how much we were going to tax, spend and borrow, the Treasury Department was authorized to carry out those instructions. In 1995, House Republicans wanted leverage over President Bill Clinton, so they brought the debt ceiling back. It’s easier to get people to listen to you if you threaten to destroy their credit rating if they don’t. And now, in 2011, they’re doing it again.
Answer by UpSheRises at 4:38 PM on Jul. 12, 2011
Answer by Mom2Just1Kiddo at 4:40 PM on Jul. 12, 2011
Answer by UpSheRises at 4:41 PM on Jul. 12, 2011
So how about the other half of that story? And that really does not reflect the question that I asked.
Comment by Carpy (original poster) a minute ago
Just because you don't like the answer doesn't mean it doesnt exist. You want the other half of the story go find it. Just because we had a budget surplus didn't mean our debt was erased, it just meant we had a little extra money that year.
Also, if debt ceiling was tied to the budget we would be playing the game we're playing now.
Answer by UpSheRises at 4:50 PM on Jul. 12, 2011
Answer by Anonymous at 5:07 PM on Jul. 12, 2011