Wednesday, January 02, 2013

Obama On Increasing The Debt

Here is Obama on increasing the national debt:

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. . . . 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.

Of course, when he said that he was a Senator and the President was Bush Jr. Yet later as President, Obama has under 4 years increased the debt by $5.8 trillion, from $10.6 trillion to $16.4 trillion, almost as much as the $5.9 trillion increase during an 8 year period under Bush Jr.,and more than the $4.7 trillion that all previous Presidents before Bush Jr. and Obama. Now tell us again, Obama, what was the increases in debt and debt limits a sign of?