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July 27th, 2011 1:05 am EST - By

US Debt Ceiling Was Raised 18 Times While Ronald Reagan Was in Office




Last night, during his speech to the nation, President Obama claimed that the debt ceiling was raised 18 times while Ronald Reagan was in office and 7 times while George W. Bush was in office.

The message behind this statement from President Obama was clear - why are you giving me such a hard time on the debt ceiling issue when other recent presidents signed off an numerous increases themselves?

Was President Obama telling the truth last night?

When it comes to George W. Bush, the answer is yes. We answered this question a few weeks ago.

When it comes to Ronald Reagan, the answer is also yes.

Ronald Reagan occupied the White House from January 20th, 1981 through to January 20th, 1989.

Here are the increases to the nation's debt ceiling that were signed into law while Ronald Reagan occupied the White House:


Illustration of Ronald Reagan and the debt ceiling increasesStatute
Limit

1. 95 Stat. 4, February 7th, 1981
Limit - $985.0 Billion

2. 95 Stat. 955, September 30th, 1981
Limit - $999.8 Billion

3. 95 Stat. 956, September 30th, 1981
Limit - $1.0798 Trillion

4. 96 Stat. 130, June 28th, 1982
Limit - $1.1431 Trillion

5. 96 Stat. 1156, September 30th, 1982
Limit - $1.2902 Trillion

6. 97 Stat. 196, May 26th, 1983
Limit - $1.389 Trillion

7. 97 Stat. 1012, November 21st, 1983
Limit - $1.49 Trillion

8. 98 Stat. 217, May 25th, 1984
Limit - $1.52 Trillion

9. 98 Stat. 313, July 6th, 1984
Limit - $1.573 Trillion

10. 98 Stat. 2206, October 13th, 1984
Limit - $1.8238 Trillion

11. 99 Stat. 814, November 14th, 1985
Limit - $1.9038 Trillion

12. 99 Stat. 1037, December 12th, 1985
Limit - $2.0787 Trillion

13. 100 Stat. 818, August 21st, 1986
Limit - $2.111 Trillion

14. 100 Stat. 1968, October 21st, 1986
Limit - $2.3 Trillion

15. 101 Stat. 308, May 15th, 1987
Limit - $2.32 Trillion

16. 101 Stat. 542, July 30th, 1987
Limit - $2.32 Trillion

17. 101 Stat. 550, August 10th, 1987
Limit - $2.352 Trillion

18. 101 Stat. 754, September 29th, 1987
Limit - $2.8 Trillion

Source: Whitehouse.gov - Historical Tables



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