Raising the debt ceiling doesn’t increase the nation’s debt, Obama declared in a speech today.
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.”
Obama went on to suggest that “the average person” mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:
“It’s always a tough vote because the average person thinks raising the debt ceiling must mean that we’re running up our debt, so people don’t like to vote on it, and, typically, there’s some gamesmanship in terms of making the President’s party shoulder the burden of raising the — taking the vote.” –
It doesn’t promote profligacy??? It profligates the shit out of government spending. Raising the debt ceiling is like giving crack to an addict.
During the 2008 campaign Obama declared that an increase in the debt was “unpatriotic”.
The national debt at the start of his regime it was $10 trillion dollars. After three years and nine months of Obamanomics, the national debt is approaching $17 trillion.
Former treasury secretary and tax cheat Timothy Geithner thought it would be a nifty idea to raise the debt limit to infinity. Tom Harkin (Democrat, of course) thinks D.C. doesn’t have a spending problem and America isn’t going broke. Spokeskid Jay Carney, who sounds more incoherent and ridiculous by the day, says that sensible fiscal policies like debt and spending limits are “irresponsible”
This is the bat-shit crazy mindset of 99.9% of the representatives in Washington. Most of them really don’t see the problem with pushing America off a fiscal cliff.
It’s not just the dollar amount, it’s the abject waste; the insane projects, causes, and unworthy recipients that will make your blood boil.
The tax/borrow/spend orgy is unsustainable. The great socialist experiment is an Epic Fail. Small business accounts for around half the GDP and more than half the employment. Since the number of wealthy people is shrinking, Obama wants to shake down the Middle Class for more money to use on his spending spree.
Welcome to four more years of “change”, how’s it going for ya?