Debt ceiling increase $5.365 trillion or 90 percent under Bush

Republican who voted for debt ceiling increase  

The debt ceiling was raised on seven occasions during President George W. Bush's two terms in office, from $5.95 trillion in 2001 to nearly double that, $11.315 trillion, in 2009 - an increase of $5.365 trillion or 90 percent increase over 8 years.

Under Bush the debt ceiling increased:

    by $450 billion to $6.4 trillion in June 2002;

    by $984 billion to $7.384 trillion 11 months later, in May 2003;

    by $800 billion to $8.184 trillion 18 months later, in November 2004;

    by $781 billion to $8.965 trillion 16 months later, in March 2006;

    by $850 billion to $9.815 trillion 18 months later, in September 2007;

    by $800 billion to $10.615 trillion 10 months later, in July 2008;

    and by $700 billion to $11.315 trillion three months later, in October 2008.

CEOs Join's the President on Tax Increases.

"With their votes, the American people determined that governing will now be a shared responsibility between parties," 

          Obama Calls for Revenue-Neutral Corporate Tax Reform

The CEO's, in a statement to be released on Thursday, say any fiscal plan "that can succeed both financially and politically" has to limit the growth of health-care spending, make Social Security solvent and "include comprehensive and pro-growth tax reform, which broadens the base, lowers rates, raises revenues and reduces the deficit." 

The CEO's who signed the 

manifesto deem tax increases inevitable no matter which party succeeds at the polls in November. "There is no possible way; you can do the arithmetic a million different ways" to avoid raising taxes, said Mark Bertolini, CEO of Aetna. "You can't tax your way to fix this problem, and you can't cut entitlements enough to fix this problem."
 

"With their votes, the American people determined that governing will now be a shared responsibility between parties," Obama said, referring to the 2010 midterm elections. "New laws will only pass with support from Democrats and Republicans. We will move forward together, or not at all -- for the challenges we face are bigger than party, and bigger than politics."

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