Obama Was Against Raising the Debt Ceiling Before He Was For It

[red states rule]

Perhaps this was an issue Obama should voted "present" on and not have left a paper trail

The hypocrisy of Obama is remarkable





Republicans are taking their majority in the House, and there’s a serious debate within the party over whether or not the debt ceiling should be raised. Some, like tea-party favorite Rep. Alan West are saying that it must be raised in the short term so that the government is not shut down. Others, like Rep. Michele Bachmann, are saying that leaving the debt cap in place may be the only way to force the federal government into making tough spending cuts.

Over the weekend Obama administration surrogates took the position you might expect they would. Refusing to raise the national debt ceiling would be “insane” Obama economist Austan Goolsbee said. But back in 2006, President Obama certain didn’t feel that way and indeed voted against raising the national 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. 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 2008 Obama showed leadership on the national debt issue by…not voting on whether or not to raise the national debt ceiling. And now, as President, he’s all for raising it.

Quite a change, no?

http://sayanythingblog.com/entry/obama-was-against-raising-the-national-debt-ceiling-before-he-was-for-it/

[red states rule]

I do hope Republicans do not roll over on this issue. It will go well to cave to the Spender In Chief in the first round




Battle Brewing Over Federal Debt Limit


As a new and politically divided Congress prepares to convene Wednesday, the newly muscular Republicans and the White House seem to be on a collision course over whether to raise the federal debt ceiling.

Some Republican lawmakers have vowed not to vote to raise the debt limit unless there is a plan in place for dealing with long-term obligations, including Social Security, and for returning to 2008 spending levels.

But the White House says that refusing to raise the limit would have a "catastrophic" impact on the economy.

"That would be a worse financial economic crisis than anything we saw in 2008," White House economist Austan Goolsbee said.

A critical showdown could come as early as March with the debt ceiling at $14.3 trillion, and the debt at nearly $13.9 trillion and growing daily.

http://www.foxnews.com/politics/2011/01/04/battle-brewing-federal-debt-limit/

[Trigg]

Not raising the debt ceiling is a hard choice, but it is one people make everyday.

I choose not to spend money one place in order to pay for something somewhere else. It's time for the gov. to do that same.

The gov. has to lower it's spending, tough choices need to be made.

[fj1200]

They need to raise it, they just need to extract some concessions. I'm not so sure that the American public will like "shutting down the government" any more now than they did in '94ish.

Bottom line is that it will get raised.

[Kathianne]

They need to raise it, they just need to extract some concessions. I'm not so sure that the American public will like "shutting down the government" any more now than they did in '94ish.

Bottom line is that it will get raised.

I agree. We're not going to risk our credit rating in order to prove a point. We cannot look like we might default, as shutting down the government will not 'save' enough money to pay the loans.

They will need to force the concessions where they can and this will be the first real test of the old guard and new conservatives working together or not.

[red states rule]

I agree. We're not going to risk our credit rating in order to prove a point. We cannot look like we might default, as shutting down the government will not 'save' enough money to pay the loans.

They will need to force the concessions where they can and this will be the first real test of the old guard and new conservatives working together or not.

Concessions like repeal of remaining stimulus and TARP money; and budget increases to rate of inflation would be a good start

Congressional staff cuts should also be included as a start