He Was Against It Before He Was For It
Posted on 09/19/2013 7:07:46 AM PDT by Biggirl
In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past.
"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."
(Excerpt) Read more at cnsnews.com ...
I wish I could bully Visa into increasing my debt ceiling.
Economic genius...(S)
Fascinating Insanity.
I’ve been hearing this talking point from liberal talking heads, that we need to raise the debt ceiling to cover spending which has already been approved, or to pay for spending which has already happened.
Liberals operate in a different reality.
It’s interesting that candidate Obama was concerned about the national debt, and how that debt would impact all of us if not dealt with.
But President Obama now doesn’t care about the national debt, and doesn’t believe in debt ceilings, or any other restraints on spending, apparently.
They don’t call him Barack Insane Obama for nothing.
I saw this idiot live on Fox News yesterday, addressing the “business leaders” at the meeting, and after he made that stupid claim, I screamed “Liar!” at the TV, while there was dead silence in the room. 0bummer made statement after statement after statement, all of which were profound lies, and no one called him on it. No wonder we’re in deep doo-doo.
Are you sure the audience mics weren't turned down so you didn't hear all the laughter from these leaders? Then again, they probably ponied up mega bucks to be told by a "community organizer" how to run a business, so what does that tell you about THEIR abilities???
Sure if you have no intention of ever paying it back.
Whiskey Tango Foxtrot? You have to be kidding me right?You Have MAXXXXED out your credit card so you get a higher credit limit to pay the the debt you already have and somehow this doesn’t increase debt when you are spending like a drunken sailor? This is being said by the President of the United States?People call your credit card company get a limit increase and max that baby out on ammo were gonna need it!
I didn’t hear a peep, so maybe the mics were down, but it was dead-quiet via TV.
From my previous post,
“No wonder we’re in deep doo-doo.”
Hmmmmmm...what a difference when one is in power to control to guide an agenda versus when one is addressing his low information electorate...
Senator Barack Obama, March 2006
"Mr. President, I rise today to talk about America’s debt problem. The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘‘trillion’’ with a ‘‘T.’’That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion. Numbers that large are sometimes hard to understand. Some people may wonder why they matter.
Here is why:
This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America. And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.
Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities. Instead, interest payments are a significant tax on all Americans—a debt tax that Washington doesn’t want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies. But we are not doing that. Despite repeated efforts by Senators CONRAD and FEINGOLD, the Senate continues to reject a return to the commonsense Pay-go rules that used to apply. Previously, Pay-go rules applied both to increases in mandatory spending and to tax cuts. The Senate had to abide by the commonsense budgeting principle of balancing expenses and revenues. Unfortunately, the principle was abandoned, and now the demands of budget discipline apply only to spending.
As a result, tax breaks have not been paid for by reductions in Federal spending, and thus the only way to pay for them has been to increase our deficit to historically high levels and borrow more and more money. Now we have to pay for those tax breaks plus the cost of borrowing for them.
Instead of reducing the deficit, as some people claimed, the fiscal policies of this administration and its allies in Congress will add more than $600 million in debt for each of the next 5 years. That is why I will once again cosponsor the
Pay-go amendment and continue to hope that my colleagues will return to a smart rule that has worked in the past and can work again.Our debt also matters internationally. My friend, the ranking member of the Senate Budget Committee, likes to remind us that it took 42 Presidents 224 years to run up only $1 trillion of foreign- held debt. This administration did more than that in just 5 years. Now, there is nothing wrong with borrowing from foreign countries.
But we must remember that the more we depend on foreign nations to lend us money, the more our economic security is tied to the whims of foreign leaders whose interests might not be aligned with ours.
Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘‘the buck stops here.’’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren.
America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit."
-Senator Barack Obama, March 2006
EXACTLY 180-Degrees”Out Of Phase”!!It means that The United States of America is CARELESS!!!!!!!!!!!!!!!!!!!!!!!!!
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