Democrats and Republicans are once again in a standoff over a looming debt limit crisis. Congress must raise or suspend the limit on federal borrowing soon or the U.S. government won’t be able to pay its bills. Here we provide the facts on the political dispute.
The last few weeks have been filled with debate, accusations, stalemate and false claims about the debt ceiling and how — and whether — it should be raised. As the Aug. 2 default deadline looms, here’s a look at the less-than-factual talking points …
President Obama's communications director said we’ve "never" been in danger of defaulting before. That's not true. Congress has come close to failing to raise the debt ceiling before defaulting more than once in recent years, under both Presidents Bill Clinton and George W. Bush.
White House Communications Director Dan Pfeiffer appeared on CNN's "John King USA" on July 26, and he told guest-host Jessica Yellin that "in the 200-plus years of our country, we've never been in a situation where we have been in danger of defaulting on our obligations."
Sen. Mitch McConnell wrongly claimed President Obama "rejected the only plan the Democrats have proposed" to raise the debt ceiling. That's not true. The White House has explicitly supported the proposal.
The Senate minority leader made the false statement in a July 26 speech on the Senate floor.
McConnell, July 26: Last night the president rejected not just the only proposal that has passed either house of Congress, he rejected the only plan the Democrats have proposed as well —
The president and House speaker restated familiar positions in their dueling debt ceiling speeches, but they took their points too far at times or made them without enough context. …
Ron Paul wrongly suggests Ronald Reagan reluctantly agreed to a "debt ceiling compromise" in 1987. There was no disagreement over raising the debt ceiling. In fact, Reagan said he had "no objection whatsoever" to raising the debt ceiling. Reagan opposed the main provision of the legislation that threatened to impose deep spending cuts, including to the military, if the president and Congress did not reduce the deficit by a certain amount.
Paul, the populist Texas congressman who is running for the Republican presidential nomination,