Tuesday, January 04, 2011

In which I agree with Barack Obama.

Barack Obama on raising the debt limit:
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.
Frankly, I agree with every single word of that. Every one. Well done, Mr. Obama - you got one right.

Of course, he said this nearly five years ago, when George W. Bush was President and the debt limit was 36% lower than the current $14.1 TRILLION (which they're going to apparently raise to $14.3 TRILLION), but that statement is an excellent summary of the current situation...

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