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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on January 04, 2011, 07:32:49 AM
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Obama: Not Always a Fan of Upping Debt Ceiling
January 3, 2011 12:50 P.M. By Katrina Trinko
________________________ ________________________ ________________
While President Obama’s economic advisor Austin Goolsbee argued Sunday that a refusal by the Senate to increase the government’s debt ceiling (currently $14.3 trillion) would be “catastrophic” and a sign of “insanity,” that’s not the position the president has held in the past.
Here are Obama’s thoughts on the debt limit in 2006, when he voted against increasing the ceiling:
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.
In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Obama did not bother to vote. (He did vote for TARP, which increased the debt limit by $700 billion.)
Sen. Jim DeMint (R., S.C.) told Human Events in an interview released today that the decision about the debt ceiling “needs to be a big showdown” in the Senate.
“We are going to cut [spending] necessary to stay within the current levels, which is over $14 trillion,” said DeMint.
http://www.nationalreview.com/corner/256199/obama-not-always-fan-upping-debt-ceiling-katrina-trinko
________________________ ________________________ ______
240, Straw, Al, Blacken care to chip in on this?
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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.
________________________ ________________________ _______
Ha ha ha Ha Ha.
No way to spin this.
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something started happening in late 2007 and snowballed into a worlwide crisis in 2008. something about global banking collapse, hemoraging of jobs, etc...
Of course if we didn't raise the debt ceiling I'm sure you wouldn't blame Obama for th 25% unemployment or any of the other major problems that would have occured. We all know you would have commended him for it instead. Right?
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::)
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No way to spin this.
anything can be spun, my fellow MPB sufferer!
Obama was right in 2006 when he said we shouldn't raise the debt ceiling, and right in 2010 when he said it was necessary to raise the debt ceiling. Why? Because circumstances changed during that span, brought about by the culmination of 12 years of republican congress and six years of Bush reign. The collapsing economy, coming on the same week as Palin's disastrous CBS/Katie Couric interview, left all of us Americans facing the prospect of a sinking dollar value and horrible GOP offering for 2008.
As Americans who believed in the positive power of change, you elected Obama to make this change - and that is what he's doing. You can't make an omelette without breaking a few eggs - and in this case, you can't fix what Bush broke without borrowing a little extra money. But in the end, my 2nd, 3rd and 4th stimulus bills will bail America out of this sad era we shall remember as the Bush Depression, and usher in the Obama Recovery, as history will remember.
God Bless America.
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anything can be spun, my fellow MPB sufferer!
Obama was right in 2006 when he said we shouldn't raise the debt ceiling, and right in 2010 when he said it was necessary to raise the debt ceiling. Why? Because circumstances changed during that span, brought about by the culmination of 12 years of republican congress and six years of Bush reign. The collapsing economy, coming on the same week as Palin's disastrous CBS/Katie Couric interview, left all of us Americans facing the prospect of a sinking dollar value and horrible GOP offering for 2008.
As Americans who believed in the positive power of change, you elected Obama to make this change - and that is what he's doing. You can't make an omelette without breaking a few eggs - and in this case, you can't fix what Bush broke without borrowing a little extra money. But in the end, my 2nd, 3rd and 4th stimulus bills will bail America out of this sad era we shall remember as the Bush Depression, and usher in the Obama Recovery, as history will remember.
God Bless America.
Why didnt he vote in the 2007 or 200 votes?
Why did he
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something started happening in late 2007 and snowballed into a worlwide crisis in 2008. something about global banking collapse, hemoraging of jobs, etc...
Of course if we didn't raise the debt ceiling I'm sure you wouldn't blame Obama for th 25% unemployment or any of the other major problems that would have occured. We all know you would have commended him for it instead. Right?
Ha ha ha ha - please Straw - even you can't spin this.
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something started happening in late 2007 and snowballed into a worlwide crisis in 2008. something about global banking collapse, hemoraging of jobs, etc...
Of course if we didn't raise the debt ceiling I'm sure you wouldn't blame Obama for th 25% unemployment or any of the other major problems that would have occured. We all know you would have commended him for it instead. Right?
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Ha ha ha ha - please Straw - even you can't spin this.
spin what
shit changes
Only a nut fails to change course when circumstance require it
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333 - didn't you say a few days ago or last week that Obama will always be a Communist, Marxist, etc.. in your eyes. I don't want to put words in your mouth so can you remind me of what you wrote again?
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Yeah, ok Straw keep telling yourself that.
Once again - Obama = fail.
He has had two years and has only made the problems DRASTICALLY worse.
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333 - didn't you say a few days ago or last week that Obama will always be a Communist, Marxist, etc.. in your eyes. I don't want to put words in your mouth so can you remind me of what you wrote again?
Straw - not that you actually give rats ass, but:
1. His mentor FMD was a communist
2. His grandprents were commies or had commie sympathies.
3. His mother was a marxist
4. He sought out the marxist professors in college
5. He spent 20 years in a radical church with marxist underpinnings.
6. His friends are often marxits ie ayeres, dohrn, rashidi, etc
7. College aquaintences say he was a marxist
7. He has said he wants to redistribte wealth and thinks it is unfair the USA has so much compared to others.
8. Many of his policies seek to destroy the USA in terms of competitive advantage with others.
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Yeah, ok Straw keep telling yourself that.
Once again - Obama = fail.
He has had two years and has only made the problems DRASTICALLY worse.
keep telling myself what exactly?
btw - only you and a few other nutbags think Obama has made things worse and that point of view is demonstrably false (though I'm sure you would "spin" the facts so that you can remain fully ensconced in your preconceived beliefs)
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Straw - not that you actually give rats ass, but:
1. His mentor FMD was a communist
2. His grandprents were commies or had commie sympathies.
3. His mother was a marxist
4. He sought out the marxist professors in college
5. He spent 20 years in a radical church with marxist underpinnings.
6. His friends are often marxits ie ayeres, dohrn, rashidi, etc
7. College aquaintences say he was a marxist
7. He has said he wants to redistribte wealth and thinks it is unfair the USA has so much compared to others.
8. Many of his policies seek to destroy the USA in terms of competitive advantage with others.
save the nutbaggery for someone else
just sum up your "permanent" belief about Obama
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keep telling myself what exactly?
btw - only you and a few other nutbags think Obama has made things worse and that point of view is demonstrably false (though I'm sure you would "spin" the facts so that you can remain fully ensconced in your preconceived beliefs)
In terms of what?
Debt is worse
UE is worse
Oil is higher
States are in worse shape
National prestige is worse
First lady is ugliest of all.
TBTF Banks are bigger than ever
Big Brother is WAY bigger
Incomes of middle clss still collapsing
etc etc.
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save the nutbaggery for someone else
just sum up your "permanent" belief about Obama
Forgot - his father was a radical marxist he worshipped and tried to emulate as well.
He also shunned all relatives he thought favored capitialism.
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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.
________________________ __________________
BUMP
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In terms of what?
Debt is worse
UE is worse
Oil is higher
States are in worse shape
National prestige is worse
First lady is ugliest of all.
TBTF Banks are bigger than ever
Big Brother is WAY bigger
Incomes of middle clss still collapsing
etc etc.
come on man - do you expect me to take any of that seriously when you throw in an insult to the FLOTUS. I can address each one of those but why would I bother when you've shown us that your opion is already PERMANENT. It's immune to re-evaluation of current info, and totally immune to new info. Your opinion is a fossil. It will never change. You don't need to bother posting anymore becasue you have nothing new to say
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Ha ha ha- ::) ::)
You know you can't spin this Straw.
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Ha ha ha- ::) ::)
You know you can't spin this Straw.
there is nothing to spin
we all know where you're coming from
Obama is a Marxist like his father and his wife is ugly
that's the summation of all your posts for the last 24 months and a projection of all your posts for the next 24 months
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No, Straw, maybe you should actually look at his statements, his associations, his policies, etc.
As for this - please - by his own definition he now is presiding over failed leadership.
He has only made the matter FAR worse since 2008.
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No, Straw, maybe you should actually look at his statements, his associations, his policies, etc.
As for this - please - by his own definition he now is presiding over failed leadership.
He has only made the matter FAR worse since 2008.
I have heard his statements but why would I want them interpretted by a far right wing nutbag of below average intelligence?
if you care about his statements then why do you bring up stuff like his wife looks or a father than he never knew?
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I have heard his statements but why would I want them interpretted by a far right wing nutbag of below average intelligence?
if you care about his statements then why do you bring up stuff like his wife looks or a father than he never knew?
His wife was just for a goof. and his father? Are you really that ignorant Straw? Seriously, sometimes I qustion whether you really are as thck headed as you come across, but statements like this really give me a hint just how clueless you are.
Obama wrte a book called "DREAMS FROM MY FATHER"
Straw - what were those dreams?
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His wife was just for a goof. and his father? Are you really that ignorant Straw? Seriously, sometimes I qustion whether you really are as thck headed as you come across, but statements like this really give me a hint just how clueless you are.
Obama wrte a book called "DREAMS FROM MY FATHER"
Straw - what were those dreams?
to take over the US Government and make us all Commies?
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to take over the US Government and make us all Commies?
::) ::)
His father was a radical marxist seeking to impose communism in Kenya.
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::) ::)
His father was a radical marxist seeking to impose communism in Kenya.
My dad lives in Texas and is possibly farther right wing than you (without the "crazy")
I guess I must be just like him and more so
right?
oh wait, my Dad actually raised me too (unlike Obama who saw the guy a few times in his life) so that must make that even more like my father
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::) ::)
His father was a radical marxist seeking to impose communism in Kenya.
I forgot to mention, my father is a devout Catholic (he is an Italian who was born and grew up in Brooklyn) and never misses church on Sunday.
I guess I must be exactly the same too
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I forgot to mention, my father is a devout Catholic (he is an Italian who was born and grew up in Brooklyn) and never misses church on Sunday.
I guess I must be exactly the same too
Did you write a book called "dreams from my father" adoring him and hs ideal and goals and travel to Bay Ridge or Bensonhurst walking his footsteps?
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Did you write a book called "dreams from my father" adoring him and hs ideal and goals and travel to Bay Ridge or Bensonhurst walking his footsteps?
of course I did
haven't you read it ?
I managed to keep mine a secret but I guess super smart guys like you found Obama's version and were able to find the secret commie messages hidden in the text. Have you considered alerting the media?
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Straw - if Palin had an equal history flirting with committed nazis don't you think it would be an issue?
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Obama: Not Always a Fan of Upping Debt Ceiling
January 3, 2011 12:50 P.M. By Katrina Trinko
________________________ ________________________ ________________
While President Obama’s economic advisor Austin Goolsbee argued Sunday that a refusal by the Senate to increase the government’s debt ceiling (currently $14.3 trillion) would be “catastrophic” and a sign of “insanity,” that’s not the position the president has held in the past.
Here are Obama’s thoughts on the debt limit in 2006, when he voted against increasing the ceiling:
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.
In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Obama did not bother to vote. (He did vote for TARP, which increased the debt limit by $700 billion.)
Sen. Jim DeMint (R., S.C.) told Human Events in an interview released today that the decision about the debt ceiling “needs to be a big showdown” in the Senate.
“We are going to cut [spending] necessary to stay within the current levels, which is over $14 trillion,” said DeMint.
http://www.nationalreview.com/corner/256199/obama-not-always-fan-upping-debt-ceiling-katrina-trinko
________________________ ________________________ ______
240, Straw, Al, Blacken care to chip in on this?
BUMP
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Well we all know Obama isn't a leader. He can't even display the simplest, most basic leadership quality, leading by example. I'd like to see him lead an infantry platoon through downtown Mosul
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WH: Obama regrets vote against raising debt limit
Associated Press Associated Press
4 mins ago
http://news.yahoo.com/s/ap/20110411/ap_on_re_us/us_obama_debt_limit/print
.WASHINGTON – The White House says President Barack Obama regrets his vote as a senator in 2006 against raising the debt limit.
A fight over raising the debt limit is looming, and the White House is trying to explain away the apparent contradiction between Obama's previous opposition, and his position now that it must be increased.
Press Secretary Jay Carney said Monday that Obama believes his vote was a mistake. He said Obama now realizes that the debt ceiling is too important to be trifled with.
Republicans are threatening to withhold their votes to raise the ceiling unless Obama agrees to major spending reductions.
A failure to raise the debt limit would mean the government would not be able to make debt payments, leading to an unprecedented default on the national debt.
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White House warns of debt 'Armageddon'
Source: AFP
WASHINGTON — The White House warned Republicans on Monday that failing to raise the $14.29 trillion US debt limit would spark "Armageddon-like" consequences for the slowly recovering US economy.
As a new political showdown looms over the economy following a defused budget row last week, aides also said that President Barack Obama now realized his vote as a senator against raising the debt ceiling in 2006 was a mistake.
"The consequences ... of failure to raise the debt ceiling would be Armageddon-like in terms of the economy," said White House spokesman Jay Carney.
Congress must raise the US debt limit, or the maximum amount the Treasury is allowed to borrow, by May 16 or see the United States default on interest payments of its debt.
Read more: http://www.google.com/hostednews/afp/article/ALeqM5jhu5...
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Hoyer joins Obama in calling past vote on debt ceiling 'a mistake'
By Russell Berman - 04/12/11 06:45 PM ET
House Minority Whip Steny Hoyer has joined President Obama in conceding that he blundered by voting against an increase to the government’s debt ceiling.
“I have voted against the debt limit in the past. That was a mistake,” Hoyer (Md.), the second-ranking House Democrat, said in an unprompted admission to reporters on Tuesday.
His comment came two days after White House adviser David Plouffe said Obama made a mistake by voting against raising the debt ceiling when he was a senator.
Democrats are urging Republicans not to jeopardize the economy and the full faith and credit of the nation with talk of voting against raising the $14 trillion debt ceiling before the borrowing limit is reached in July. But the Democrats' own votes against raising that ceiling during George W. Bush’s presidency are coming back to haunt them.
The National Republican Senatorial Committee attacked Sen. Claire McCaskill (D-Mo.), who voted against raising the ceiling in 2007, for “flip-flopping” on the issue when she called Republicans “profoundly irresponsible” for threatening to do the same thing.
Hoyer said he voted with other Democrats against lifting the debt ceiling when Republicans were in the majority to protest what he said were irresponsible GOP fiscal policies, such as tax cuts for the wealthy.
In the Senate, a spokesman for Majority Leader Harry Reid (D-Nev.) said Reid has previously stated that he “believes he should have voted differently.”
Other Democratic senators stopped short of declaring their previous votes a mistake. Sen. John Kerry (D-Mass.) voted against the debt-limit increase in 2006 “to demand a course correction from the Bush fiscal policies that had turned record budget surpluses into record deficits with no end in sight,” Kerry spokeswoman Whitney Smith said. “He'll cast this upcoming vote after considering the best way to influence our economic direction and after seeing what's attached to the bill.”
Sen. Joe Lieberman (I-Conn.) also defended his earlier vote.
“Sen. Lieberman stands by that vote because he believed the [Bush administration] failed to demonstrate that they were going to take serious steps to reduce the national debt which today threatens our economic future,” spokesman Jeremy Kilpatrick said. “The 2006 vote was the fourth time the debt ceiling was raised during the Bush administration.”
House Minority Leader Nancy Pelosi (D-Calif.) and Caucus Chairman John Larson (D-Conn.) did not respond to requests for comment.
Assistant Democratic Leader James Clyburn (S.C.) said through a spokeswoman: “My vote was in protest of Bush’s unwise and obscene tax cuts. The circumstances today are entirely different.”
Obama voted against raising the debt ceiling as an Illinois senator in 2006.
Democrats and Republicans are girding for a pitched battle over the debt ceiling, which the Treasury Department says must be lifted by July to avoid a first-ever default by the federal government. A default, administration officials say, would be “catastrophic” for the U.S. economy.
Republicans have said any bill to raise the debt limit must be paired with significant spending cuts or structural fiscal reform — a warning that House Majority Leader Eric Cantor (R-Va.) repeated on Tuesday.
“Let me give notice to the White House that blindly raising the debt limit without implementing real reforms is irresponsible and will simply burden our children with more debt. We Republicans are not going to go along with it,” he told reporters at his weekly press briefing.
Cantor later added: “We’re only, only talking about even doing this if we can be assured there are guarantees in place that the spending doesn’t get out of control again.”
The Treasury Department has said the U.S. would hit its current debt ceiling around May 16 but that it could stave off a default until July 8. Cantor indicated that the vote would occur “over the next several months” and that the GOP considered the July date its deadline to act.
Hoyer on Tuesday called the debt-limit fight “the next hostage event” and pointed out that pairing the measure with other items would be a violation of the GOP pledge to separate controversial issues into separate pieces of legislation.
“They said, and [Speaker John] Boehner [R-Ohio] has said, that he would keep separate divisive issues from important bills and he would take them up individually,” Hoyer said. “That is what ought to be done here. The full faith and credit of the United States of America ought not to be held hostage.”
In their Pledge to America, Republican leaders promised to “end the practice of packaging unpopular bills with ‘must-pass’ legislation to circumvent the will of the American people. Instead, we will advance major legislation one issue at a time.”
Asked about Hoyer’s comment, Cantor instead referred to a separate rule change that Republicans instituted requiring a direct up-or-down vote on the debt limit rather than “hiding” that vote in a procedural maneuver, as had been allowed before.
“We’re going to be transparent. We’re going to be accountable,” Cantor said. “That’s what an up-or-down debt-limit vote is.”
A spokeswoman for Cantor, Laena Fallon, said in response to Hoyer that the spending reforms Republicans would pair with a debt-limit increase “are germane, not unpopular.”
Ramsey Cox contributed.
Source:
http://thehill.com/homenews/house/155509-hoyer-joins-obama-in-calling-past-vote-on-debt-ceiling-a-mistake
The contents of this site are © 2011 Capitol Hill Publishing Corp., a subsidiary
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They need to change the term from debt ceiling to debt retractable sun roof. Sounds more accurate and fun.
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White House warns of debt 'Armageddon'
Source: AFP
WASHINGTON — The White House warned Republicans on Monday that failing to raise the $14.29 trillion US debt limit would spark "Armageddon-like" consequences for the slowly recovering US economy.
As a new political showdown looms over the economy following a defused budget row last week, aides also said that President Barack Obama now realized his vote as a senator against raising the debt ceiling in 2006 was a mistake.
"The consequences ... of failure to raise the debt ceiling would be Armageddon-like in terms of the economy," said White House spokesman Jay Carney.
Congress must raise the US debt limit, or the maximum amount the Treasury is allowed to borrow, by May 16 or see the United States default on interest payments of its debt.
Read more: http://www.google.com/hostednews/afp/article/ALeqM5jhu5...
Every time it's the end of the world if we don't borrow more money, raise our debt limit, or bail somebody out. I'm expecting the Congress to put up a good fight on this one, they have all the power.
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Obama confesses
www.jamaicaobserver.com ^ | April 15, 2011 | AFP
________________________ ________________________ ______________-
President Barack Obama has admitted he put politics before his country when he voted as a freshman senator against allowing the US government to borrow more money.
Now, as he seeks as president to persuade Congress to raise the US debt ceiling by next month, Obama is having to explain away that vote in 2006.
"I think that it's important to understand the vantage point of a senator versus the vantage point of a... president," Obama said in an exclusive interview with ABC News.
"When you're a senator, traditionally what's happened is this is always a lousy vote. Nobody likes to be tagged as having increased the debt limit for the United States by a trillion dollars," Obama said.
"As president, you start realizing, 'You know what? We can't play around with this stuff. This is the full faith in credit of the United States.'
"That was just an example of a new senator, you know, making what is a political vote as opposed to doing what was important for the country. And I'm the first one to acknowledge it."
The White House warned this week of a financial "Armageddon" if Congress refuses to raise the $14.29 trillion debt limit.
Lawmakers must take action by May 16 or see the United States default on interest payments on its debt.
(Excerpt) Read more at jamaicaobserver.com ...
________________________ ________________________ ______________
Ha ha ha ha - there you haveit. What a freaking joke ths asshole is.
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HAHAHHAAH!! Democrats are begging. It only took 2 years for Obama to show he is the worst president in the history of the USA. He is making Jimmy Carter a very distant second.
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What a freaking joke obama is. He was a lying thief then and he is a liar now. Hope and change.
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The White House warned this week of a financial "Armageddon" if Congress refuses to raise the $14.29 trillion debt limit.
Lawmakers must take action by May 16 or see the United States default on interest payments on its debt.
I would like to see this theory tested. Is it really "Armageddon" if we default? Would the US have to auction off some of it's property?
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Obama: Raise debt ceiling or risk global recession
Yahoo ^ | 4/15/11 | Ben Feller - AP
CHICAGO (AP) -- Failure by Congress to raise the U.S. debt limit "could plunge the world economy back into recession," President Barack Obama declared Friday, and he acknowledged that he must compromise on spending with Republicans who control the House to avoid such a crisis.
"I think he's absolutely right that it's not going to happen without some spending cuts," the president told The Associated Press in an interview in his hometown, agreeing with House Speaker John Boehner's assessment.
Obama urged swift action, saying he doesn't want the United States to get close to a deadline that would destabilize financial markets. He said he was confident Congress ultimately would raise the limit.
(Excerpt) Read more at finance.yahoo.com ...
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BUMP
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On the debt ceiling:
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. \" 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.
Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006
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Obama: Not Always a Fan of Upping Debt Ceiling
January 3, 2011 12:50 P.M. By Katrina Trinko
________________________ ________________________ ________________
While President Obama’s economic advisor Austin Goolsbee argued Sunday that a refusal by the Senate to increase the government’s debt ceiling (currently $14.3 trillion) would be “catastrophic” and a sign of “insanity,” that’s not the position the president has held in the past.
Here are Obama’s thoughts on the debt limit in 2006, when he voted against increasing the ceiling:
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.
In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Obama did not bother to vote. (He did vote for TARP, which increased the debt limit by $700 billion.)
Sen. Jim DeMint (R., S.C.) told Human Events in an interview released today that the decision about the debt ceiling “needs to be a big showdown” in the Senate.
“We are going to cut [spending] necessary to stay within the current levels, which is over $14 trillion,” said DeMint.
http://www.nationalreview.com/corner/256199/obama-not-always-fan-upping-debt-ceiling-katrina-trinko
________________________ ________________________ ______
240, Straw, Al, Blacken care to chip in on this?
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Bump.
Beach can you merge this into obama foot in mouth thread.
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BUMP
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Obama: Don't use debt as a gun against ("the heads of") Americans
AP via Yahoo Finance ^ | July 6, 2011 | Andrew Taylor
WASHINGTON (AP) -- President Barack Obama says the debt ceiling should not "be used as a gun against the heads" of Americans to retain breaks for corporate jet owners or oil and gas companies.
Answering questions posed to him on the social Networking site Twitter, the president cast the debate over reducing the deficit in some of the starkest language he has used so far.
(Excerpt) Read more at finance.yahoo.com ...
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Obama: Debt Deal Needs to Get Done in 10 Days (Or what?)
Fox News ^ | 7/10/2011 | fox news
Posted on July 10, 2011 8:29:12 PM EDT by tobyhill
President Obama says a debt deal with Congress needs to be worked out in the next 10 days as he meets with top lawmakers at the White House Sunday night.
Partisan tensions were flaring ahead of the critical summit, where aides say the president plans to make one last push for a major deficit-reduction deal amid doubts on both sides.
The talks are still on despite a surprise announcement from House Speaker John Boehner that rattled the almost-optimistic mood surrounding the negotiations.
The speaker, claiming the White House was pushing too hard for tax hikes while not pushing hard enough for entitlement reform, said Saturday evening that lawmakers should aim for a smaller deficit-reduction deal. Instead of the $4 trillion package officials were talking about just days ago, Boehner suggested negotiators aim for a deal that would be worth about half that over the next decade.
Senate Republican Leader Mitch McConnell, speaking on "Fox News Sunday," confirmed that a $4 trillion package is now off the table.
"Everything they've told me and the speaker is that to get a big package would require big tax increases in the middle of the economic situation," McConnell told "Fox News Sunday."
(Excerpt) Read more at foxnews.com ...
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Bump.