The new congress is beginning to talk about raising the debt ceiling. Many Republicans think that is a bad idea. Raising the debt ceiling gives congress a license to spend more money that our Country doesn't have, which is exactly how we got to this point. obama and his gang of thugs are saying it is insanity to not raise the limit, it's something that has to be done or the government will wind up in default, basically ruining our credit.
But back in 2006, obama had this to say...
And then in 2007 and 2008 he didn't even bother to vote on raising the debt limit.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.
It's just funny that in 2006 the need to increase the debt ceiling was due to poor leadership and would weaken us on the international front as well as here at home, according to obama. What do you bet that in 2011 it isn't because of leadership failure, at least in the eyes of obama.
Maybe if obama and congress could live within their means we wouldn't be in the position of needing to borrow more money. It would seem that it would occur to someone in washington that spending borrowed money is a bad idea, especially when that borrowed money is in the TRILLIONS of dollars. Do you think there are any Fortune 500 companies that are run on borrowed money? I have a feeling a CEO wouldn't last long at all under those circumstances...
