With all the talk about the upcoming need to raise the debt ceiling, keep this in mind. Obama, along with all Senate Democrats, voted against raising the debt ceiling in 2006, stating “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.”
Harry Reid had some choice word for Republican in 2006 on this matter as well (video below):
“If my Republican friends believe that increasing our debt by almost $800 billion today and more than $3 trillion over the last five years is the right thing to do, they should be upfront about it. They should explain why they think more is debt good for the economy.
How can the Republican majority in this Congress explain to their constituents that trillions of dollars in new debt is good for our economy? How can they explain that they think it’s fair to force our children, our grandchildren, our great grandchildren to finance this debt through higher taxes. That’s what it will have to be. Why is it right to increase our nation’s dependence on foreign creditors?
They should explain this. Maybe they can convince the public they’re right. I doubt it. Because most Americans know that increasing debt is the last thing we should be doing. After all, I repeat, the Baby Boomers are about to retire. Under the circumstances, any credible economist would tell you we should be reducing debt, not increasing it.Democrats won’t be making argument to supper this legalization, which will weaken our country. Weaken our county.”
It will be interesting to see what Obama and Reid have to say this time around.