Raising the Debt Limit: I Couldn’t Have Said It Better
By Randall Holcombe • Monday August 1, 2011 4:01 PM PDT • 4 Comments
“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 US government cannot 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 limit weakens us domestically and internationally. Leadership means saying 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. America deserves better.”
Barack Obama, excerpts from remarks to the US Senate, March 16, 2006, explaining why he was voting against increasing the debt ceiling. This quotation has been repeated a lot lately, and deservedly so, because it so fits today’s situation.
Tags: American History, Budget and Tax Policy, Economics, Politics, The State 
Pray for another Winston Churchill, Margaret Thatcher, or Ronald Reagan
Angelo Campanella | Aug 1, 2011 | Reply
As with all politicians, listen to what they say, and then see what they do. They say it for the masses but do it for their rulers- the upper %0.1
ralph | Aug 2, 2011 | Reply
Angelo, why would I pray for more lousy politicians? You might want more lying, thieving, murderous thugs, but I don’t. A pox upon all their houses, and upon all those who foist them upon us.
Paul | Aug 2, 2011 | Reply
You are right Paul – Can you imagine Wintson Churchill working now? Times have changed – he was right for the war... but not now!
Richard | Aug 25, 2011 | Reply