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Message Subject Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,'
Poster Handle Vindog
Post Content
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:

- See more at: [link to cnsnews.com]
 Quoting: Swan Ronson

So I dont really understand this whole debt ceiling thing... I read a wikipedia definition of it, but still dont get it... can anyone here break it down in lay-mans terms for me?

If I had to guess, the ceiling is the point where if we reach it, we will default, like its a limit... but if hes saying that raising that ceiling doesnt mean raising our debt... then wtf... i dunno.. maybe i do get it... but his words are just f-ing with me... any help?
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