Wednesday, July 06, 2011

Raising The Debt Ceiling is a Sign of "Leadership Failure"

Once again, the 75th time since 1962, we have hit the limit on how much government is permitted to borrow. The argument is we must raise it again to prevent default and so government can pay the bills. What will happen if we do raise it yet again?

"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."

Senator Barack Obama, March 16, 2006

OMG 2012

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