Barack Obama opposed raising debt ceiling – in 2006
Bring back the 2006 version of Barack Obama!
On 16 March, 2006 on the floor of the U.S. Senate, Obama made the following solid speech — a speech he would ridicule today:
Mr. [U.S. Senate] 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…
Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops… Read More