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Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,'
Ms Sans Serif
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[quote:Anonymous Coward 45349696:MV8yMzU4NDM2XzQwMzA5MTg3XzRENzZBNUZE] WELL considering that the debt is unpayable by any calculations, it actually doesnt matter. Why not a 50 trillion dollar debt? 100 trillion? When the amount is jnot payable, the amount may as well be nothing. [/quote]
Uhhh, is he new? He's pandering to the mouth breathing crowd.
Raising the debt ceiling doesn't increase the nation's debt, Pres. 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:
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