The Big Think

September 19, 2013

Yes, He Really Said It

Filed under: Politics — jasony @ 6:27 pm

Obama: ‘Raising the Debt Ceiling…Does Not Increase Our Debt,’ Though It Has ‘Over 100 Times’:

“Raising the debt ceiling doesn’t increase the nation’s debt, Pres. Obama declared in a speech Wednesday.

In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it’d been done so many times in the past:

‘Now, this debt ceiling — I just want to remind people in case you haven’t been keeping up — raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you’ve already racked up, Congress. It’s a basic function of making sure that the full faith and credit of the United States is preserved.’

Obama went on to suggest that ‘the average person’ mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:

‘It’s always a tough vote because the average person thinks raising the debt ceiling must mean that we’re running up our debt, so people don’t like to vote on it,”

Technically it doesn’t, but B usually always follows A in this case. Pretty fine distinction there, don’t you think? Unfortunately, the low information voter will believe this.

Your government at work.

Oh, one more thing:

“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 US Government cannot 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, 2006 (when the debt was “only” 8 Trillion dollars. It has since more than doubled).

Failure of leadership, indeed.

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