Stands Against House Republican Proposal, While Ignoring Debt Limit History

In yet another sign that she’s prepared to put the re-election efforts of herself and President Obama, ahead of avoiding the federal government defaulting on its debt for the first time in U.S. history, U.S. Senator Debbie Stabenow (D-MI) joined with her liberal party leaders last night in signing a letter announcing her firm opposition to the two-step plan offered by House Speaker John Boehner which will be voted on by the House later today.

In her letter, Stabenow joined with Democrat leaders Harry Reid and Chuck Schumer in claiming that an initial six-month extension, as opposed to the two year extension sought by President Obama, would put America at risk.  Notably, the Boehner bill has the strong support and endorsement of the U.S. Chamber of Commerce.  Ignoring that, Stabenow and her fellow Democrats write, “A short-term extension like the one in your bill would put America at risk, along with every family and business in it. Your approach would force us once again to face the threat of default in five or six short months.”

However, there is one huge problem with Stabenow’s spin – it’s not supported by facts or by history.

Over the last 40 years, there have been 37 separate debt limit increases that last 6 months or less, and never once has the federal government ultimately defaulted on its debt.  Meanwhile, the $2.4 trillion increase President Obama is seeking represents the largest single debt hike in history, and, quite conveniently, it kicks the can down the road past both his and Senator Stabenow’s re-election bids next year.

“As Debbie Stabenow once again stands side-by-side with President Obama, and against the Michigan small business community, the only conclusion to draw is that they are more interested in their own re-election bids, than with avoiding a catastrophic default next week.  Senator Stabenow is playing politics with the full faith and credit of the U.S. economy and her partisan actions are shameful,” National Republican Senatorial Committee (NRSC) spokesman Jahan Wilcox said today.

As a reminder when you consider Senator Stabenow’s continued rhetoric on this issue and her claims that America would be put at risk with a short-term debt limit extension, Stabenow voted AGAINST raising the debt limit when President Bush was in the White House.  Apparently her views on this key issue depends on which party controls the White House:

Stabenow Has Voted Against Raising The Debt Limit In The Past.  (H.J. Res. 47, CQ Vote #54: Passed (thus cleared for the president) 52-48: R 52-3; D 0-44; I 0-1, 3/16/06, Stabenow Voted Nay; S. 2986, CQ Vote #213: Passed 52-44: R 50-1; D 2-42; I 0-1, 11/17/04 , Stabenow Voted Nay; H. J. Res. 51, CQ Vote #202: Passed (thus cleared for the president) 53-44: R 50-1; D 2-43; I 1-0, 5/23/03, Stabenow Voted Nay; S. 2578, CQ Vote #148: Passed 68-29: R 31-15; D 36-14; I 1-0, 6/11/02, Stabenow Voted Nay)

In 2004, Stabenow Said Raising The Debt Limit Was “Immoral” And “Fiscally Irresponsible”

http://www.youtube.com/watch?v=QFhsEGAfcak

• DEBBIE STABENOW: “This Is Immoral, I Believe. I Believe It Does Not Reflect Our Values As Americans. I Urge My Colleagues To Oppose This Legislation. You Know, It Is Kind Of Like A ‘Get Out Of Jail Free’ Card For A Fiscally Irresponsible Situation Here, Led By Our Colleagues On The Other Side Of The Aisle And This Administration.” (Sen. Stabenow, Congressional Record, S.11410, 11/17/04)
• DEBBIE STABENOW: “An Increasing National Debt Also Violates One Of Our Most Important Values–That We Want Our Children To Be Better Off Than We Were. We Want To Leave Them A Better Country Than We Inherited. Parents All Over America Care About This And Do This Every Day.” (Sen. Stabenow, Congressional Record, S.11410, 11/17/04)

FACT CHECK: Average Debt Hike 7 months

• In the last 40 years there have been 37 debt limit increases that lasted 6 months or less. The average length of increases since 1972 is just over 7 months. (“Historical Tables: Table 7.3 Statutory Limits On Federal Debt: 1940-Current,” The President’s Budget For Fiscal Year 2012, 2/14/11)

• At $2.4 Trillion President Obama asking for largest debt hike in history, topping his previous record increase of $1.9 trillion which he signed into law on February 12^th, 2010. (“Historical Tables: Table 7.3 Statutory Limits On Federal Debt: 1940-Current,” The President’s Budget For Fiscal Year 2012, 2/14/11)