President Speaks on Debt Limit

May 10th, 2011 by Lee Eldridge

President ObamaA quote from President Obama: “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. … 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.”

On this I’m in complete agreement with our President. But unfortunately, do you know who does not agree with this statement? Our President. He spoke these words in 2006 while a member of the Senate.

Now the President says he was wrong. Well, he doesn’t say it. His press secretary Jay Carney says that the President regrets his vote against raising the debt ceiling in 2006:  Obama “thinks it was a mistake,” presidential spokesman Jay Carney told reporters. “He realizes now that raising the debt ceiling is so important to the health of this economy and the global economy that it is not a vote that, even when you are protesting an administration’s policies, you can play around with.” (Yahoo News)

The administration has gone so far as to explain that a failure to raise the debt ceiling would result in “Armageddon-like” consequences for the economy. They have also suggested that we should raise the debt limit in a “clean” bill, which means “no strings attached”.

Personally, I’m hoping for plenty of strings. Our continuing deficits and national debt are the albatross hanging around the neck of our economy.

Will The Senate Release a Budget Plan Please?
And in a related story, the democrats in the Senate were getting close to finally releasing a budget proposal to counter Paul Ryan’s budget plan. But many democrats remain leery of putting a plan on paper that can be scrutinized by the public. This is of course why they failed to present or pass a budget last year. So what happened? The President has preempted the release of the plan and called for ANOTHER bipartisan commission to discuss a compromise on the budget. How can a “compromise” be discussed when the democrats won’t release a budget proposal? (

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