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What then-Senator Obama thought about raising the debt ceiling in 2006 – vs. now

Posted By ST On January 14, 2013 @ 6:34 pm In Congress,Economy,Inflation,Jobs,President Obama,Taxes | Comments Disabled

Via a January 3, 2011 National Review Online post [1] by Katrina Trinko:

Here are Obama’s thoughts [2] on the debt limit in 2006, when he voted against increasing the ceiling:

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.

In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Obama did not bother to vote. (He did vote for TARP, which increased the debt limit by $700 billion.)

How he feels [3] about it now as President:

“They will not collect a ransom in exchange for not crashing the American economy,” Obama said. “The full faith and credit of the United States of America is not a bargaining chip.”

“While I’m willing to compromise and find common ground over how to reduce our deficit, America cannot afford another debate with this Congress over how to pay the bills they’ve already racked up,” Obama said in the East Room of the White House. “To even entertain the idea of this happening, of America not paying its bills, is irresponsible. It’s absurd.”

Obama made clear he’s tired of the frequent negotiations over major fiscal issues and said he wants a longer-term agreement. “We’ve got to break the habit of negotiating through crisis over and over again,” he said. “I am not going to have a monthly or every-three-months conversation about whether or not we pay our bills.”

Can you count the lies told there? Especially in the second paragraph. “Compromise” and “find common ground over how to reduce our deficit”? That’s got to be a candidate for whopper of the year, and we’re not even out of January yet.

And I’m not sure what his big deal against negotiations is when it comes to raising the debt ceiling. Negotiations over matters like this are fairly routine [4].

Just kidding – I know darned well why he’s so against negotiations (read: debate) with the political opposition.  Most dictatorial-like world leaders are [5].


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URLs in this post:

[1] National Review Online post: http://www.nationalreview.com/corner/256199/obama-not-always-fan-upping-debt-ceiling-katrina-trinko#

[2] thoughts: http://rpc.senate.gov/public/_files/alternativestothedebtlimitincreasev20.pdf

[3] How he feels: http://www.politico.com/story/2013/01/obama-press-conference-no-ransom-for-raising-debt-ceiling-86144.html

[4] are fairly routine: http://www.theminorityreportblog.com/2013/01/14/debt-limit-negotiations-are-routine/

[5] are: http://www.breitbart.com/Big-Government/2013/01/14/Obama-bully-pulpit-guns