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Obama Opposed Raising the Debt Ceiling in 2006 - His Speech

 
No Dhimmi

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10/27/2013 09:55 AM

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Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
March 16, 2006 CONGRESSIONAL RECORD—SENATE S2237-2238:

Mr. OBAMA:

"Mr. President, I rise today to talk about America’s debt problem.

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. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘‘trillion’’ with a ‘‘T.’’ That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.

Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities. Instead, interest payments are a significant tax on all Americans—a debt tax that Washington doesn’t want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce our national debt by returning to responsible fiscal policies.

But we are not doing that. Despite repeated efforts by Senators CONRAD and FEINGOLD, the Senate continues to reject a return to the commonsense Pay-go rules that used to apply. Previously, Pay-go rules applied both to increases in mandatory spending and to tax cuts. The Senate had to abide by the commonsense budgeting principle of balancing expenses and revenues. Unfortunately, the principle was abandoned, and now the demands of budget discipline apply only to spending.

As a result, tax breaks have not been paid for by reductions in Federal spending, and thus the only way to pay for them has been to increase our deficit to historically high levels and borrow more and more money. Now we have to pay for those tax breaks plus the cost of borrowing for them. Instead of reducing the deficit, as some people claimed, the fiscal policies of this administration and its allies in Congress will add more than $600 million in debt for each of the next 5 years.

That is why I will once again cosponsor the Pay-go amendment and continue to hope that my colleagues will return to a smart rule that has worked in the past and can work again.

Our debt also matters internationally. My friend, the ranking member of the Senate Budget Committee, likes to remind us that it took 42 Presidents 224 years to run up only $1 trillion of foreign-held debt. This administration did more than that in just 5 years. Now, there is nothing wrong with borrowing from foreign countries. But we must remember that the more we depend on foreign nations to lend us money, the more our economic security is tied to the whims of foreign leaders whose interests might not be aligned with ours.

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.

I therefore intend to oppose the effort to increase America’s debt limit”


[link to www.gpo.gov]

[link to www.washingtonpost.com]

Poor Character

Last Edited by No Dhimmi on 10/27/2013 10:00 AM
ALL relevant scriptures that include a time factor prove no pre-trib rapture. Over 50 verses! Kindle Edition only 99 CENTS! Biblical Eschatological “Time-Stamps” Relevant to the Last Day/Days (Amazon)
Elsabiades..

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10/27/2013 10:05 AM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
I lost count on the number of lies he has told years ago....
Elsabiades..
Matrix
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10/27/2013 10:16 AM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Leaders don't fix problems not of their making they create problems and then fix them. Its like a arsonist that goes around lighting fires then puts on the fire fighters uniform and puts them out for the cries of being a hero, while the real dangerous fires that should get the attention are ignored to burn because of these glory seeking distractions all the time. While Nero fiddles Rome burns!
Anonymous Coward
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10/27/2013 10:17 AM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Standard Operating Procedure... most politicians lie to get into office then do what they want.
VeraFromChorley

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10/27/2013 10:56 AM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Anonymous Coward
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10/27/2013 11:15 AM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
obama is an ass clown
Southern Norseman

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10/27/2013 11:20 AM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Its only dumb and irresponsible when its not his party seeking to do it. Gotta keep that Hope and Change alive. LOL

ohappy
"Cattle die, kinsmen die; the self must also die. I know one thing which never dies: the reputation of each dead man."

- Hávamál, st. 77
Anonymous Coward
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10/27/2013 11:33 AM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
The debt ceiling will always have to be raised. Our monetary system is setup that if you don't it will fail. That's why it's a joke when the start to debate it. They already know that they will.
Iron.

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10/27/2013 12:35 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
This Bolshevik usurper will just mold into any political viewpoint that suits furthering his and his handlers agenda.
'Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views" - William F Buckley Jr
davvi

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10/27/2013 12:37 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
In a nut shell this is what the asshole said...


:106 two face:

5* for you my friend...
Paved In Chaos

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10/27/2013 12:45 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Soo, Obama has lied to us?


tomato
Anonymous Coward
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10/27/2013 12:58 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech

 Quoting: VeraFromChorley




And we all know that the media has thrown that video from their archives, into the furnace.
davvi

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10/27/2013 01:11 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Soo, Obama has lied to us?


tomato
 Quoting: Paved In Chaos


He has never told us the truth and the media ignores his deception.
Alpacalips

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10/27/2013 01:25 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
clappa

5 stars
Anonymous Coward
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10/27/2013 01:51 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
One can only be against, but what other solution ?
Anonymous Coward
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10/27/2013 01:58 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Hope and change baby!!!

oridin
davvi

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10/27/2013 02:21 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
One can only be against, but what other solution ?
 Quoting: Anonymous Coward 48818214


There is a solution to our problem, and it is called the US Constitution. We need to strip this country of every vestige of socialism, reject collectivism and get back to individual responsibility. What are the chances of people voting against "free stuff" for themselves?

For the mental midgets who support democrats and Obama ask them to compare freedom with free stuff and because they are incapable of anything but group think they will choose free stuff over freedom every day of the week...

We are lost...
Falter
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Sweden
10/27/2013 02:28 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Aaw, when you all believed and cheered at him ;)
Anonymous Coward
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10/27/2013 03:07 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Taqiyya‎.
Anonymous Coward
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10/27/2013 03:08 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
...without the "‎". ?WTF?
Anonymous Coward
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10/27/2013 03:16 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
:dankedanke:
Anonymous Coward
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10/27/2013 03:24 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
He was lying then. He's lying now.
Anonymous Coward
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10/27/2013 03:29 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
excuseme2
Anonymous Coward
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10/27/2013 03:32 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
What part of Hypocrite do you not understand?
davvi

User ID: 3677166
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10/27/2013 04:16 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Aaw, when you all believed and cheered at him ;)
 Quoting: Falter 48496507


It wasn't us who crawled around on our bellies in front of the anti-American, anti-Western European bustard, I seem to recall that it was Europe and Britain who couldn't get enough of him and who feted and fawned over him as if he was something other than a left wing loser.

Presidents who have actually respected you and your culture, conservative people in this country who actually share European DNA you abuse and shit all over and yet this person who hates you gets a European hero's welcome from you...

I don't give a damn how he disrespects you or how much crap he kicks in your face...you deserve it...
Anonymous Coward
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10/27/2013 05:00 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Soo, Obama has lied to us?


tomato
 Quoting: Paved In Chaos


He has never told us the truth and the media ignores his deception.
 Quoting: davvi


So do the sheeple.
Anonymous Coward
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10/27/2013 05:15 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Aaw, when you all believed and cheered at him ;)
 Quoting: Falter 48496507


yes, we put a total lying psychopath in charge of thermal
nuclear weapons and they are pointed all over the world.

how does that make you feel?
Anonymous Coward
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United Kingdom
10/27/2013 05:45 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
politicians lie.

next?
Falter
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Sweden
10/27/2013 06:14 PM
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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Aaw, when you all believed and cheered at him ;)
 Quoting: Falter 48496507


yes, we put a total lying psychopath in charge of thermal
nuclear weapons and they are pointed all over the world.

how does that make you feel?
 Quoting: Anonymous Coward 49024544


Something to look forward to banana2
No Dhimmi  (OP)

User ID: 15737193
United States
10/28/2013 11:53 AM

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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
Interesting shillery here - got this red karma:

Stop pinning obama crap, it's not even relevant.

So . . . just how is this not relevant?

Pres O does a 180 on the issue of the debt ceiling?

Shill much?
ALL relevant scriptures that include a time factor prove no pre-trib rapture. Over 50 verses! Kindle Edition only 99 CENTS! Biblical Eschatological “Time-Stamps” Relevant to the Last Day/Days (Amazon)
No Dhimmi  (OP)

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10/28/2013 07:52 PM

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Re: Obama Opposed Raising the Debt Ceiling in 2006 - His Speech
clappa

5 stars
 Quoting: Alpacalips


Thank you!
ALL relevant scriptures that include a time factor prove no pre-trib rapture. Over 50 verses! Kindle Edition only 99 CENTS! Biblical Eschatological “Time-Stamps” Relevant to the Last Day/Days (Amazon)





GLP