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From Senator To Failed Leader In Six Years Flat

- March 16, 2012

Six Years Ago Today Obama Opposed Raising The Debt Ceiling Saying It Was A “Sign Of Leadership Failure”

Obama Opposed Raising The Debt Limit In 2006, Saying “America Has A Debt Problem And A Failure Of Leadership. Americans Deserve Better.” OBAMA: “The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. …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.  I therefore intend to oppose the effort to increase America's debt limit.” (Sen. Barack Obama, Congressional Record, 3/16/06, p. 2237- 2238)

As President He Called That Vote “Politically Motivated” And Then Asked For The Largest Debt Ceiling Increase In History To Pay For His Binge Spending

Obama Has Recently Said That Vote Was “Politically Motivated.” OBAMA: “As President, you start realizing, ‘You know what?  We-- we can’t play around with this stuff.  This is the full faith in credit of the United States.’  And so that was just a 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.” (ABC News’ “World News,” 4/14/11)

  • “Then-Sen. Obama Used His Vote ‘To Make A Point’ About Getting Serious About Fiscal Discipline.” “Then-Sen. Obama used the vote ‘to make a point about needing to get serious about fiscal discipline….His vote was not necessarily needed on that.’” (Jake Tapper, “Gibbs: Senator Obama Only Voted Against Raising Debt Ceiling In 2006 Because He Knew It Would Pass Anyway,” ABC’s Political Punch, 1/5/11)

FactCheck.org: Obama’s Request To Raise The Debt Ceiling Is The Largest In History. “Obama said raising the debt ceiling has been a common occurrence over the last 60 years. That's true, but this request is the largest in history, even in inflation-adjusted dollars.” (“FactChecking Dueling Debt Speeches,” Fact Check, 7/27/11)

  • Obama Wanted An Increase Large Enough To Prevent Having To Face The Issue Again During His Reelection. OBAMA: “The only bottom line that I have is that we have to extend this debt ceiling through the next election, into 2013. And the reason for it is we’ve now seen how difficult it is to get any kind of deal done. The economy is already weakened. And the notion that five or six or eight months from now we’ll be in a better position to try to solve this problem makes no sense.” (President Obama, Press Conference, 7/22/11)

President Obama Has Added $4.9 Trillion To The National Debt In Just Over Three Years In Office, A 46 Percent Increase To Over $15.5 Trillion. (Department Of The Treasury, “Debt To The Penny And Who Holds It,” Treasury Direct, Accessed 3/15/12)

  • In 2008, Obama Said Adding $4 Trillion To The National Debt Was “Irresponsible. It’s Unpatriotic.” OBAMA: “The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents - #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back -- $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic.” (Sen. Barack Obama, Remarks At A Campaign Event, Fargo, ND, 7/3/08)

Obama Could Burn Through His New Credit Limit By Election Day

The Government Could Hit The Debt Ceiling Around The Election. “The federal government could hit the debt ceiling sooner than expected — and possibly around the November election — according to a report out Friday. Lawmakers on Capitol Hill had hoped that last summer’s deal to end the nasty fight over lifting the debt ceiling would ensure the issue wouldn’t resurface until at least 2013. But the Bipartisan Policy Center said Friday that the debt-limit doomsday could come earlier than that.” (Seung Min Kim, “Debt Doomsday More Imminent,” Politico, 2/24/12)

  • The U.S. Will Hit The Debt Ceiling Between November 2012 And January 2013. “Analysts from the Bipartisan Policy Center projected that the United States will hit its $16.4 trillion debt ceiling between late November 2012 and early January 2013 due to lower-than-expected corporate tax revenues and the recent extension of the payroll tax holiday.” (Seung Min Kim, “Debt Doomsday More Imminent,” Politico, 2/24/12)




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