Obama On The Debt Ceiling

Who said this?

Hey folks,

Let's get right to it. 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 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."

Yup, that's right. Senator Barack Hussein Obama on The Senate Floor during a Speech on the Public Debt, March 16, 2006. Seems pretty adamant about this. Does he NOT? He thinks that even having the DISCUSSION about raising the Debt Ceiling is "a sign of Leadership failure." I agree. He said that it is "a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies." I agree. He said that over "5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is “trillion” with a “T.”" Over the past 2 and a Half years, it has INCREASED from $8.6 to over $14 TRILLION. That is Trillion with a T. 2.5 YEARS. If raising it by $5 Trillion in over 5 years, is "a sign of Leadership failure." Then WHAT is raising it over $6 Trillion in 2.5 years? Hmm? And what would wanting to increase it even MORE be a sign of Mr. Obama? Hmm?

I agree with you one hundred percent on your view of raising the Debt Ceiling. Of increasing spending even more. I agree with you one hundred percent that this is a sign of Leadership Failure. YOUR Leadership Failure. I and MOST Americans DO see this as you have described. We say NO MORE!

To my Republican friends. Lets work with Obama on this. Lets agree with him and NOT raise the Debt Ceiling. He is RIGHT. "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." So lets stop the madness NOW. No more. No more out of control spending. No Back Room deals. No Back Doors. No compromising. No surrender. Do the RIGHT thing here. Just say NO. The only way out of this Economic Mess is to cut Government Spending and LET the Free Market loose to do what it does best. Reduce the size of Government, and restore FREEDOM and the American Dream. Allow the PEOPLE the Freedom to set us all free. Allow those that DO run the Markets, RUN the Markets. Get the Hell out of the way, and let the Country heal itself.
Peter

Sources:
{Laughing} The LINK has been removed from GOVTrack.US AND Other Liberal Sites You can still find it at Gateway Pundit. This is taken DIRECTLY from his 2006 Speech. Amazing who the Left LOVE to Re-Write History. Is it NOT?