{"id":9351,"date":"2011-04-19T14:14:35","date_gmt":"2011-04-19T18:14:35","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=9351"},"modified":"2011-04-19T14:14:35","modified_gmt":"2011-04-19T18:14:35","slug":"quick-primer-on-debt-ceiling-debate","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/9351\/quick-primer-on-debt-ceiling-debate\/","title":{"rendered":"Quick Primer on Debt Ceiling Debate"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.washingtonpost.com\/business\/economy\/whats-the-debt-ceiling-and-why-is-everyone-in-washington-talking-about-it\/2011\/04\/15\/AFSS4R1D_story.html?utm_source=Newsletter&amp;utm_medium=Email&amp;utm_campaign=Heritage%2BHotsheet\" target=\"_blank\"><em>Washington Post<\/em><\/a> has a helpful \u2013 and short \u2013 explanation of the debt ceiling debate, along with some interesting facts.\u00a0 *My comments in ( )<\/p>\n<ul>\n<li>Prior to 1917, Congress had to approve borrowing each time it came up (meaning that WWI combined with Progressive Era big spending made raising the debt much easier)<\/li>\n<\/ul>\n<ul>\n<li>Members of Congress will most likely wait use July 8<sup>th<\/sup> as the drop-dead date (unfortunately, federal pensioners will see government contributions to their retirement funds halted when the U.S. passes the real deadline on May 16<sup>th<\/sup>)<\/li>\n<\/ul>\n<ul>\n<li>The debt ceiling was less than $1 trillion in the 1980s, then $6 trillion in the 1990s; today it stands at $14.6 trillion and rising (and no, simple inflation is not the reason \u2013 it&#8217;s spending increases)<\/li>\n<\/ul>\n<ul>\n<li>The budgets presented by President Barack Obama and Rep. Paul Ryan would both require a raise in the debt ceiling (Obama by $2.2 trillion; Ryan by $1.9 trillion)<\/li>\n<\/ul>\n<p>Read the entire synopsis <a href=\"http:\/\/www.washingtonpost.com\/business\/economy\/whats-the-debt-ceiling-and-why-is-everyone-in-washington-talking-about-it\/2011\/04\/15\/AFSS4R1D_story.html?utm_source=Newsletter&amp;utm_medium=Email&amp;utm_campaign=Heritage%2BHotsheet\" target=\"_blank\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Washington Post has a helpful \u2013 and short \u2013 explanation of the debt ceiling debate, along with some interesting facts.\u00a0 *My comments in ( ) Prior to 1917, Congress had to approve borrowing each time it came up (meaning that WWI combined with Progressive Era big spending made raising the debt much easier) Members [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[143,70,2232,877,802],"class_list":["post-9351","post","type-post","status-publish","format-standard","hentry","category-posts","tag-barack-obama","tag-budget","tag-debt-ceiling","tag-government-spending","tag-paul-ryan"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/9351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=9351"}],"version-history":[{"count":2,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/9351\/revisions"}],"predecessor-version":[{"id":9353,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/9351\/revisions\/9353"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=9351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=9351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=9351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}