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by
Bryan Preston

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October 8, 2013 - 12:51 pm

Today President Obama “explained” the debt ceiling as follows:

If Congress refuses to raise what’s called the debt ceiling, America would not be able to meet all of our financial obligations for the first time in 225 years. And because it’s called raising the debt ceiling, I think a lot of Americans think, it’s raising our debt. It is not raising our debt. This does not add a dime to our debt. It simply says, you paid for what Congress has already authorized America to purchase, whether that’s the greatest military in the world or veterans benefits or Social Security, whatever it is that Congress has already authorized, what this does is make sure we can pay those bills.

Now, the last time that the Tea Party Republicans flirted with the idea of default two years ago, markets plunged and business and consumer confidence plunged. And America’s credit rating was downgraded for the first time and a decision to actually go through with it, to actually permit default, according to many CEOs would be, insane, catastrophic catastrophic, chaos, these are more polite words.

Warren Buffett likened to a nuclear bomb, a weapon too horrible to use. It would undermine the world’s confidence in America as the bedrock of the global economy and might permanently increase our borrowing costs. Which, of course, ironically would mean it would be more expensive for us to service what debt we do have and add to our deficits and debt, not decrease them. There’s nothing fiscally responsible about that.

Now, preventing this should be simple. As I said, raising the debt ceiling is a lousy name why members in both parties don’t like to vote on it. It does not allow for a single dime of increased spending. All it does is allow the treasury department to pay for for what congress has already spent.

But on March 20, 2006, then Senator Barack Obama described voting to raise the debt ceiling as a “failure of leadership.”

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.

Senator Obama went on to vote against raising the debt ceiling.

Now President Obama wants to raise the debt ceiling, and describes raising it as not even worth fighting about.

There is no way to reconcile these two positions as consistent, despite the fact that they came from the same man. Someone in the White House press corps should have asked President Obama why Senator Obama was wrong.

Bryan Preston has been a leading conservative blogger and opinionator since founding his first blog in 2001. Bryan is a military veteran, worked for NASA, was a founding blogger and producer at Hot Air, was producer of the Laura Ingraham Show and, most recently before joining PJM, was Communications Director of the Republican Party of Texas.

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All Comments   (4)
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The spineless, lapdog media basks in hypocrisy (can you imagine them not asking Bush to reconcile the two positions?) but its OK as Obama is their savior.
27 weeks ago
27 weeks ago Link To Comment
"There is no way to reconcile these two positions as consistent, despite the fact that they came from the same man. "

Same man? Surely you jest. One was a Senator attacking a Republican President & the other is a President attacking a Republican House of Representatives. Hope that clears things up.
27 weeks ago
27 weeks ago Link To Comment
One man, two faces.
27 weeks ago
27 weeks ago Link To Comment
"Someone in the White House press corps should have asked President Obama why Senator Obama was wrong."

Agreed! And someone should have asked the president why we don't just pass balanced budgets in the first place. . . and then slapped his/her forehead and said, "Oh, right. The Democrats don't do budgets any more."

The debt ceiling scenario is a scam. It lets Congress overspend in March and then argue that raising the debt ceiling is just "paying bills we've already incurred. You'd be 'insane' not to fund our obligations."

No, we were insane to let you overspend in the first place.
27 weeks ago
27 weeks ago Link To Comment
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