1967 and 1979: Debt Ceiling Talking Points Were Same as We Hear Now
We’re doing a timeline on the history of the debt limit in this country. Now, last week and many days prior, I’ve called your attention to the Democrat Party Playbook, the Leftist Playbook about how class envy and certain elements. Like when Obama came out and said, “Social Security checks and checks for veterans, I can’t guarantee they’re gonna go out.” That’s the playbook. When Debbie “Blabbermouth” Schultz goes out and slimes Allen West on the floor of the House, that’s the Democrat playbook. Here’s a congressman from south Florida who is a prince of a man, and she accuses him of wanting to balance the budget on the backs of seasoned citizens and basically sending them off to their deaths by denying them Medicare and Social Security.
None of it’s true, of course. It’s just absolutely appalling but it’s from the playbook. But I have these two things had to show you what a game we are in the middle of, to show you how we are being played, to show you how Washington — both parties, both sides never, ever change. Although I really don’t want to lump the Republicans into this like that because we now have circumstances which are unique and separate from any previous debate on this subject, because what’s hanging in the balance is the country, and it’s not an overstatement to say that. This is the New York Times News Service, January 30, 1967:
LBJ’s “Secretary of the Treasury Henry H. Fowler told Congress today that the government would be unable to pay all its bill if the ceiling on the national debt was not lifted within 30 days. Fowler ran into Republican hostility in day-long testimony before the House Ways and Means Committee… Fowler asked that the ceiling be raised by $7 billion to $337 billion to cover the period until June 30. Further legislation covering the period after June 30 will be needed later he said. Fowler said that payments for such things as old age benefits, veterans pensions, public assistance benefits, tax refunds, and the salaries of government workers would be threatened if the ceiling were not raised.”