Thursday, July 28, 2011

Obama Once Embraced Fiscal Sanity?

“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 can not 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 H. Obama, March 2006
Of course, it's almost a given now that everything Obama says has an expiration date, and this statement was no doubt made then only for the purpose of opposing Republicans. Still, it was true then and it's even more true now.

With 'plans' on the table that actually cut no spending at all - they're all just reductions in projected (i.e. fantasy) spending increases in the future - we'll continue with the status quo... until the whole house of cards collapses in about 10 years.

3 comments:

Anonymous said...

So we couldn't pay our bills in 2006 but after he added several trillion more to the debt, not only can we do so, but according to him suddenly it's good to do so?

Actually, technically Obama is probably correct now that America can still 'pay its bills' ... because we can just pay those bills using Grandma's retirement savings! There's plenty more retirement savings to burn through before we really run out of money, so no worries there you see. We might have to eat cat food when we retire but that's tomorrow's problem.

Jeff Perren said...

Have you seen the price of cat food lately? Forget it. McDonald's cardboard burgers are cheaper.

(And, hey, you can pay with your food stamp card that looks like a credit card to avoid embarrassment).

Cardinham | Killgrew said...
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