Friday, April 15, 2011

Debt limit

Five years ago, Senate Democrats — including Obama — objected to President George W. Bush's spending priorities and voted en bloc against Bush's call for raising the debt ceiling. Obama told ABC News on Thursday that no senator likes to be tagged as voting to increase the debt limit.

 April 14, 2011

Obama Concedes Vote Against Debt Limit Was Political

In an interview with ABC News, President Obama acknowledged for the first time "that only when he became president did he understand why his 2006 Senate vote against raising the debt limit was wrong."
Said Obama: "I think that it's important to understand the vantage point of a Senator versus the vantage point of a...President.  When you're a Senator, traditionally what's happened is this is always a lousy vote. Nobody likes to be tagged as having increased the debt limit for the United States by a trillion dollars... As President, you start realizing, 'You know what?  We-- we can't play around with this stuff. This is the full faith in credit of the United States.' And so that was just a example of a new Senator,  you know, making what is a political vote as opposed to doing what was important for the country.  And I'm the first one to acknowledge it."


Obama: Raise debt ceiling or risk global recession (AP)

President Barack Obama smiles during his interview with The Associated Press, Friday, April 15, 2011, in Chicago. (AP Photo/Pablo Martinez Monsivais)AP - Failure by Congress to raise the U.S. debt limit "could plunge the world economy back into recession," President Barack Obama declared Friday, and he acknowledged that he must compromise on spending with Republicans who control the House to avoid such a crisis.

KN: Because you didn't, and still don't, know what hell your doing.
OMG, and some think he's doing just fine. The blind and naive.

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