Apparently, the Republicans in Congress need a brief remedial lesson in the history of debt ceilings in this country over the last thirty years.
January 1982 – Commission on Fiscal Accountability of the Nation’s Energy Resources — Debt at $1.14 Trillion
January 1983 – National Commission on Social Security Reform – – Debt at $1.20 Trillion
January 1984 – Executive Committee of the President’s Private Sector Survey on Cost Control in the Federal Government aka – Grace Commission — Debt at $1.43 Trillion
July 1993 – National Commission on Financial Institution Reform, Recovery and Enforcement – Debt at $4.35 Trillion
September 1993 – From Red Tape to Results: Creating a Government that Works Better and Costs Less (Gore Commission) – Debt at $4.41 Trillion
October 1997 – National Bipartisan Commission on the Future of Medicare – Debt at $5.42 Trillion
February 1999 – Commission to Study Capital Budgeting – Debt at $5.62 Trillion
December 2001 – The President’s Commission to Strength Social Security – Debt at $5.94 Trillion
August 2005 – National Surface Transportation Infrastructure Financing Commission – Debt at $7.92 Trillion
November 2005 – President’s Advisory Panel on Federal Tax Reform – Debt at $8.09 Trillion
October 2008 – Congressional Oversight Panel (Emergency Economic Stabilization Act) – Debt at $10.57 Trillion
February 2009 – President’s Economic Recovery Advisory Board – Debt at $10.87 Trillion
May 2009 – Financial Crisis Inquiry Commission – Debt at $11.32 Trillion
September 2010 -The Committee for a Responsible Federal Budget (CRFB) comprehensive report titled The Future is Now: A Balanced Approach to Stabilize the Public Debt and Promote Economic Growth – Debt at $13.56 Trillion
November 2010 – Peterson-Pew Commission on Budget Reform – Getting Back in the Black – Debt at $13.86 Trillion
November 2010 – Bipartisan Policy Center (Domenici / Rivlin) – Restoring America’s Future – Debt at $13.86 Trillion
December 2010 – National Commission on Fiscal Responsibility and Reform (Fiscal Commission) – Debt at $14.02 Trillion
