Who said this about the debt ceiling increase in 2006?
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure,” he said. “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. … 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 and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.”
If you guessed they hypocritical Sen. Barry Obama you are correct.
From The Hill:
President Obama warned Republicans against using a hike in the debt ceiling as leverage to win entitlement cuts, arguing it would play havoc with the economy.
Obama wants a blank check to continue his record spending spree and demanded the power to raise the debt ceiling anytime and how ever many times he wants.
In an address to corporate CEOs at the Business Roundtable, Obama said business leaders “should not accept going thorough” another debt ceiling crisis like the one in 2011 that caused stocks to fall and led Standard and Poor’s to devalue the U.S. credit rating.
He warned a repeat of that showdown would be a “catastrophe” for the nation that would cause a “self-inflicted series of wounds that will potentially push us back into recession.”
Obama wasn’t too worried and even downplayed the downgrade by calling it a “political judgement that shouldn’t be taken seriously.”
Obama’s use of the business venue for the comments was meant to invoke a contrast between his stewardship of the economy and Republicans. It came in front of business leaders that have differed with the White House over financial reform and the new healthcare law.
The president told the CEOs that a fight over the debt ceiling would cause more uncertainty for business. “We can’t go there again,” Obama said.
Uncertainty has been there since Obama was elected 4 years ago.