I have found myself in total agreement with two Liberals this week. One of those Liberals, a Senator from Illinois, said in 2006, that
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.
Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.
Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.
And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.
Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.
Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006
- Sen. Obama, Congressional Record, S.2237-8, 3/16/06
I find myself in total agreement with then Senator Barack Obama and applaud his desire to step above party politics and make such controversial statements. I am happy a man of this level of integrity is the president of the United states as he said he would always hold to conscience and ideals and not the flights of political rhetoric. Now that the Debt ceiling is about to come up for potential lifting, I know he will stick to principle…
Obama: Not Always a Fan of Upping Debt Ceiling
In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Obama did not bother to vote. (He did vote for TARP, which increased the debt limit by $700 billion.)
Sen. Jim DeMint (R., S.C.) told Human Events in an interview released today that the decision about the debt ceiling “needs to be a big showdown” in the Senate.
“We are going to cut [spending] necessary to stay within the current levels, which is over $14 trillion,” said DeMint.
Ok Harry Reid was against Raising the Debt Limit in 2006
You mean he Flip-Flopped too? What happened to all those Principled Democrats?
Ok I am now in agreement with one liberal, Bill Maher, who pointed out the hypocrisy of the media and Hollywood when he mentioned that Islam is the one religion that insists it is peaceful but will kill you if you disagree with them. I related that future news will revel that some Imam has issued a Fatwa against Bill Maher for not holding the Hollywood / Liberal line. I also predict that Maher will come out and slam Christianity to become, “Fair and Balanced”.