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Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,'
Ms Sans Serif
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[quote:Anonymous Coward 42862284:MV8yMzU4NDM2XzQwMzA5MzkyXzI3ODNCNDVE] Well he is right. Tech. anyway. But if it weren't for the debt ceiling, he wouldn't be able to spend the futures money on programs he started early on (and bush). [/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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