Say What ???

Or more appropriately – Who said this?

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.

Your guesses, please…


9 thoughts on “Say What ???

  1. Barack Obama.

    Here’s the thing: During the Bush administration, the debt ceiling was raised seven times. You know that, right?

    More importantly, it used to be that the party in the minority would object to raising the debt ceiling as a means of expressing its dissatisfaction with various actions by the majority party — such as the Afghanistan and Iraq Wars being budgeted “off the books” — and it was understood by all that the ceiling would be raised by the majority power.

    This time, however, we have the majority party holding the country hostage and threatening to blow its (our) brains out.

    See the diff? It’s not exactly “subtle.”

  2. Wobbly – are you contenting that the Republican Party is the majority party in our government today? I would suggest that one house does not a “government” make.

  3. Basket Case — I’m talking specifically about the House, because that’s where the threat to not raise the debt ceiling is coming from — the Republican-controlled House. It’s not coming from the Senate (except occasional murmurings from Mitch McConnell, but those actually fall into line with previous M.O. I described in my first post), and it’s certainly not coming from Obama.

    Loki — if we were talking about extending our credit limit for future expenditures, you might have a point. As it is, we’re talking about raising the debt ceiling so we can pay our already incurred debts. (Thank you, George Bush!) So no, I don’t consider that a bad financial practice. In fact, I consider not defaulting on our debts a good financial practice.

    Do either of you have an IRA or a 401K? A defined contribution (as opposed to defined benefit) retirement plan? Be prepared to watch half of it go up in smoke if we default on our debt.

  4. As our debt limit is meaningless for all practical purposes, why don’t we A) do away with it or B) raise to to say $500 Tril so we don’t have to worry about raising it and/or defaulting for at least 50 years?

    I suppose there are a couple more options: C) don’t raise it, pay our external debts first and our internal obligations with what is left over. D) pass a balanced budget amendment and live within our means. There are many things that would be nice to do as a Society – most of them are not affordable. We need to recognize the difference. Or accept MUCH higher taxes.

    Bottom line, if your very existence depends on the charity of your neighbors (through the theft of Taxation and government wealth redistribution), you might want to consider finding a new “Uncle Sugar Daddy” because your current enabler is broke and won’t be able to support you much longer.

  5. Wobbly – The “threat” to not raise the debt ceiling is coming from the people who recognize the major train wreck that’s right in front of us. We have to stop over-spending!!!! And we don’t have to raise income taxes to do that – or put outrageous burdens on businesses either. What is needed is a good hard, honest look at where the money is going and the courage to make the hard choices.

    The federal budget has got to be brought in line with revenues. Period. Entitlement programs have to be on the table and we have to be willing to make them self-sustaining, which means lower benefits, whether targeted or across the board. ALL departments – including Defense, Education, Energy, and most of all Administration – need to live on less – about 15% less at least. And Congress can start by cutting their budgets and staff – maybe by 20%.

    And if we still haven’t reached the goal – then we start selling off assets. Lots of prime real estate that can be taken off the fed’s books and put back in the private sector and on the local tax rolls.

    It can be done and it’s past time to do it. Yes, we can.

  6. Wobbly;

    You are so wrong in so many ways with such a short post it is hard to know where to begin.

    Wobbly – “In fact, I consider not defaulting on our debts a good financial practice.”
    Borrowing more money is not paying off debts. It is incurring more debt. Eventually the debt has to be paid and not handling the spending and just borrowing just incurs more debt. I think the better idea would be to not incur any more debt and pay off what we owe.

    Wobbly –“(Thank you, George Bush!)”
    Blame George, really! There was debt before Bush took office. There was debt after he left. But Obama must have thought he was playing Monopoly because he is throwing money around like it is worthless, which it will be soon.

    Wobbly;
    You know that the debt ceiling is a phony ploy by Democrats to demonize republicans. If the Democrats were not relying on their media friends to lay all the blame on Republicans the Democrats would not be playing chicken with our country. This is proven by their being totally gutless and not producing a budget. They have destroyed the economy and then being the gutless cowards they are they won’t do the hard job of cutting spending. Instead they leave it to Republicans who they will then call evil for cutting spending.

    Wobbly;
    You know as well as everyone else that the country won’t collapse if the debt ceiling does not pass. Because we are still paying taxes everyday. This is a phony line in the sand hyped by the media.

  7. Wobbly said, “I’m talking specifically about the House, because that’s where the threat to not raise the debt ceiling is coming from ……..and it’s certainly not coming from Obama.

    But Obama was against raising the national debt in ’06. So was Obama as you say, “holding the country hostage and threatening to blow its (our) brains out.”, or is he simply a political hack who just votes party lines against the best interest of the country.

  8. Does he think that the reported bitterness between the Milibands risks adversely affecting Labour? “Yes. Cheap Puma Trainers We’ve got to really think about the party. There was a Labour family argument in Blair/Brown that got played out in a single family [by] David/Ed .. I think Ed has got great energy and intuition. He hasn’t yet fully grasped how good he is. I always give people a year to sort out any trauma. I think Ed is now beginning to find his energy and move on.”

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