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Townhall
Obama:
Raising Debt Ceiling Won’t Lead to More Debt
Michael
Schaus
Sep
19, 2013
While
reading from the teleprompter in front of the Business Roundtable
headquarters in Washington DC, President Obama suggested that raising
the National Debt Limit would not increase the Nation’s Debt. Well
– actually – he didn’t suggest that. . . He simply said it:
"Now,
this debt ceiling -- I just want to remind people in case you haven't
been keeping up -- raising the debt ceiling, which has been done over
a hundred times, does not increase our debt.”
Um. .
. Ok. I mean, well, it has increased our debt every other time it’s
been raised. . . So, are we expected to believe that government
intends to keep from issuing more debt this time? If that’s the
case, why raise the limit? It almost seems like the President is
using new Common-Core math standards in his explanation of the debt
limit negotiations.
Of
course he didn’t always think in such nuanced, and incorrect, ways.
Back as a Senator from the great state of Chicago (No. . . That’s
not a typo. I consider Chicago its own state.) Obama complained about
having to vote for an increase in the National Debt to over $8
trillion dollars. Roughly $9 trillion dollars later our creditors
might be wishing that anonymous senator from Chicago had remained
anonymous.
The
President then spilled into the often repeated line that raising the
debt is merely a matter of paying the “bills that you've already
racked up”. The line, however, was accented nicely with a
condescending tone, and verbally directed at Congress – as if Obama
has merely been a spectator to Washington’s drunken spending spree.
It should also be added that our bills are largely a function of our
spending habits. . . If anything, a need to increase our National
Debt should illustrate our desperate need to reign in government
spending. If banks treated personal credit cards the same way the
White House wants Congress to treat the National Debt, Lehman
Brothers would have been the least of our worries in 2009...
Read
the rest of the article at Townhall
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