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Senator Obama on the debt ceiling circa 2006
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Senator Obama on the debt ceiling circa 2006

  #1 (permalink)
Fortitudo et Honor
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Senator Obama on the debt ceiling circa 2006

"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."

Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006

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I guess Obama's version of leadership is being a political whore and chasing votes. He's exactly the thing he campaigned against.

His administration has been the most opaque of any on recent record (rather than the "transparency" he promised during his part the waters election speeches), he promised to end "partisan" politics in Washington and the "status quo" but now we find him EXACTLY where he promised he would not be....

If you thought the President's speech was anything more than the start of his 2012 campaign, then read the above post.

The guy is laughable. He appoints a bipartisan budget comission and then disavows them because he's afraid of the political fallout. Now, agree or not, the Republicans have at least had the stones to come up with a plan, and instead of giving us his own plan (with specifics) he's campaigning against their plan.

That's not leadership, it's politics as usual. He's catering to class warfare emotions and fishing for votes, instead of rolling up his sleeves and doing what's necessary, though unpopular.

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RM99 View Post
I guess Obama's version of leadership is being a political whore and chasing votes. He's exactly the thing he campaigned against.

His administration has been the most opaque of any on recent record (rather than the "transparency" he promised during his part the waters election speeches), he promised to end "partisan" politics in Washington and the "status quo" but now we find him EXACTLY where he promised he would not be....

If you thought the President's speech was anything more than the start of his 2012 campaign, then read the above post.

The guy is laughable. He appoints a bipartisan budget comission and then disavows them because he's afraid of the political fallout. Now, agree or not, the Republicans have at least had the stones to come up with a plan, and instead of giving us his own plan (with specifics) he's campaigning against their plan.

That's not leadership, it's politics as usual. He's catering to class warfare emotions and fishing for votes, instead of rolling up his sleeves and doing what's necessary, though unpopular.

I don't claim to be the most savvy when it comes to Politics and I'm not going to support Obama 100%, but I do think that to give the impression some how that Obama is the main problem, or that some how he has behaved in a manner different than any other politician is a meaningless debate. I've come to a personal conclusion, and it may be overly negative, or unreasonable, but I feel that Washington is broken and has been for a long time. Okay, Obama haters want to point out all his faults. Some how it proves that he was a bad choice? We were in a pile of shit before he came along 2 years ago, but that is never mentioned. How many other Politicians or Presidents end up doing something different than what they say they are going to do? George Bush Sr. "Read my Lips, no new taxes" Didn't he raise taxes. George Bush Jr. "It's a war because of weapons of mass disstrcution." Opps, no weapons. Okay, "Its a war on terror". 500 American kids dead and the "Mission Accomplished". Wasn't that 4000 kids ago?

Republicans and Dems will never agree. Dems can't convince Reps of anything and visa versa. We as Americans disagree depending on the party we belong to and its even worse with the ones in office. Everybody has their own agenda and its not an agenda thats good for all of us. They have favors to repay and backs to scratch. Please don't make it sound like Obama is unique in some way. I had hoped he would be. Part of me still believes that hes is, but gets absolutely no support from the other side. Why should he cave and do what the Reps purpose? They don't support what he wants. This is the loop that all administrations seem to end up in and Obamas is not unique. You may want to think so because he is not your side, but the ones before him were this way and the ones that follow will be as well. They can't get anything done because they can't agree on anything.

I'm disappointed that things are not better, but I don't blame Obama because he inherited a big mess. Can you say with any certainty that McCain would have made a difference. No way can you say so. Plus, how can anyone think that Palin has what it takes to be VP, let alone Pres. Wink.

One last comment. I've seen stories on the front page of Yahoo that talks about the first lady and the shorts she was wearing on vacation, or that Obama was seen in the water without a shirt on. If these are the kinds of topics that deserve any attention what so ever then it's no wonder that our country is a F'd up as it is.

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No matter what political party you are, it is extremely important to understand how much $1 trillion really is. I made this a while ago for a friend, but its fun to look at to remind myself of just how large of a number 1 trillion really is.

First, think of how much money you currently make and how much it allows you to buy. Now think if you had $1 billion all the cool stuff you could do and buy. You would be able to quit work and live the life of luxury (you could probably do this with a lot less, I know I could!).

Next, look at the graph, you probably can't even tell where your current salary would fall on the graph. I can't even tell where 1 billion will fall except extremely close to the zero line in its current context.

Now multiply the chart by 14.268 and you get our approximate deficit of 14.268 trillion...wow....you have to appreciate how large of a number that is no matter what your political view.

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I don't claim to be the most savvy when it comes to Politics and I'm not going to support Obama 100%, but I do think that to give the impression some how that Obama is the main problem, or that some how he has behaved in a manner different than any other politician is a meaningless debate. I've come to a personal conclusion, and it may be overly negative, or unreasonable, but I feel that Washington is broken and has been for a long time. Okay, Obama haters want to point out all his faults. Some how it proves that he was a bad choice? We were in a pile of shit before he came along 2 years ago, but that is never mentioned. How many other Politicians or Presidents end up doing something different than what they say they are going to do? George Bush Sr. "Read my Lips, no new taxes" Didn't he raise taxes. George Bush Jr. "It's a war because of weapons of mass disstrcution." Opps, no weapons. Okay, "Its a war on terror". 500 American kids dead and the "Mission Accomplished". Wasn't that 4000 kids ago?

Republicans and Dems will never agree. Dems can't convince Reps of anything and visa versa. We as Americans disagree depending on the party we belong to and its even worse with the ones in office. Everybody has their own agenda and its not an agenda thats good for all of us. They have favors to repay and backs to scratch. Please don't make it sound like Obama is unique in some way. I had hoped he would be. Part of me still believes that hes is, but gets absolutely no support from the other side. Why should he cave and do what the Reps purpose? They don't support what he wants. This is the loop that all administrations seem to end up in and Obamas is not unique. You may want to think so because he is not your side, but the ones before him were this way and the ones that follow will be as well. They can't get anything done because they can't agree on anything.

I'm disappointed that things are not better, but I don't blame Obama because he inherited a big mess. Can you say with any certainty that McCain would have made a difference. No way can you say so. Plus, how can anyone think that Palin has what it takes to be VP, let alone Pres. Wink.

One last comment. I've seen stories on the front page of Yahoo that talks about the first lady and the shorts she was wearing on vacation, or that Obama was seen in the water without a shirt on. If these are the kinds of topics that deserve any attention what so ever then it's no wonder that our country is a F'd up as it is.

Firstly, I'm a libertarian, so I'm not a real fan of either the DNC or the GOP.

Secondly, as a libertarian, I tend to support Republicans more, because quite frankly, I'm not gay or a woman, and the Republican policies tend to be the lesser of evils for me. They tend to rob me a little less.

Thirdly, I voted for Bush. Not because I liked him, but because most of politics now isn't supporting the candidate/policy of your choice, but voting against the lesser of evils. That is the nature of politics/compromise to an extent.

However, I hated Bush. And I'd vote for him again....why? Cause God help us if Kerry or Gore were elected.

I may not have agreed with Bush, but at least the man stood for something. You knew that when he gave you a speech, although he came off sounding like an uneducated idiot, he genuinely believed what he was telling you.

I think Bush was a crook, just like the rest of them, he had his underhanded deals and his masters just like every other politician.

But what Clinton lacked (and Obama) was any form of sincerity whatsoever. Clinton could sell ice to eskimos. Obama isn't as adept, but he's equally as slippery.

Obama is an elitist masquerading as a populist. When it suits him, and when it's in line with his social agenda, he bucks the popular sentiment (or when he figures he can "get away with it.") When votes and re-election are on the line, he's a populist.

This whole ordeal has seriously made me reconsider having children...because it's perfectly clear to me that the majority of Democrats are not willing to take the necessary steps to get us back to financial stability. We are in short words, doomed to go to bankruptcy.

Democrats will NOT stand up to the voters/recipients in order to reign this runaway train in. Furthermore, they'll play to the class warfare emotion of raising taxes on the "evil" rich people...(no one in this country has ever been hired by a poor person, but rich people are evil) which will drive jobs, and revenue abroad.

The bottom line is that like most problems in America, politicians are more interested in re-election than solving them.

You can bash the Republican plan all you want, but at least they have a plan and have published it. Obama has done nothing but give rosy speeches, just like he did during his campaign.

Let's review some of Obama's campaign promises....

End Guantanimo.....
Transparecy (having closed door sessions with his own party before ramrodding Obamacare down our throats comes to mind...hell, they wouldn't even let the public see the bill prior to its issuance)
Ending the "status quo" (he is the status quo)
Exiting Iraq (again, like GTMO, this is him talking out his ass before checking with the DOD to see if it was even possible)

He criticized Bush relentlessly and campaigned on the notion of "we can't afford another 8 years" and the man was even awarded the Nobel Peace Prize, which was an absolute joke...he has since escalated 1 war and started another military campaign in Lybia.

When are people going to wake up? So he's black. I got it. Now what? That and $.85 will get you a cup of coffee these days.

The man is a politician to the core. He's not interested in anything other than votes and re-election....to the detriment of us all.

Cutting spending is hugely unpopular....so is raising taxes. The difference being that raising taxes actually has a long term, tangible negative effect on our economy, our jobs and our standard of living.

We don't have a tax problem or a revenue collection problem, we have a SPENDING problem, and thus far, Obama and his party seem too scared to do anything about it....for fear of backlash from liberals and seniors.

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RM99 View Post
Firstly, I'm a libertarian, so I'm not a real fan of either the DNC or the GOP.

Secondly, as a libertarian, I tend to support Republicans more, because quite frankly, I'm not gay or a woman, and the Republican policies tend to be the lesser of evils for me. They tend to rob me a little less.

Thirdly, I voted for Bush. Not because I liked him, but because most of politics now isn't supporting the candidate/policy of your choice, but voting against the lesser of evils. That is the nature of politics/compromise to an extent.

However, I hated Bush. And I'd vote for him again....why? Cause God help us if Kerry or Gore were elected.

I may not have agreed with Bush, but at least the man stood for something. You knew that when he gave you a speech, although he came off sounding like an uneducated idiot, he genuinely believed what he was telling you.

I think Bush was a crook, just like the rest of them, he had his underhanded deals and his masters just like every other politician.

But what Clinton lacked (and Obama) was any form of sincerity whatsoever. Clinton could sell ice to eskimos. Obama isn't as adept, but he's equally as slippery.

Obama is an elitist masquerading as a populist. When it suits him, and when it's in line with his social agenda, he bucks the popular sentiment (or when he figures he can "get away with it.") When votes and re-election are on the line, he's a populist.

This whole ordeal has seriously made me reconsider having children...because it's perfectly clear to me that the majority of Democrats are not willing to take the necessary steps to get us back to financial stability. We are in short words, doomed to go to bankruptcy.

Democrats will NOT stand up to the voters/recipients in order to reign this runaway train in. Furthermore, they'll play to the class warfare emotion of raising taxes on the "evil" rich people...(no one in this country has ever been hired by a poor person, but rich people are evil) which will drive jobs, and revenue abroad.

The bottom line is that like most problems in America, politicians are more interested in re-election than solving them.

You can bash the Republican plan all you want, but at least they have a plan and have published it. Obama has done nothing but give rosy speeches, just like he did during his campaign.

Let's review some of Obama's campaign promises....

End Guantanimo.....
Transparecy (having closed door sessions with his own party before ramrodding Obamacare down our throats comes to mind...hell, they wouldn't even let the public see the bill prior to its issuance)
Ending the "status quo" (he is the status quo)
Exiting Iraq (again, like GTMO, this is him talking out his ass before checking with the DOD to see if it was even possible)

He criticized Bush relentlessly and campaigned on the notion of "we can't afford another 8 years" and the man was even awarded the Nobel Peace Prize, which was an absolute joke...he has since escalated 1 war and started another military campaign in Lybia.

When are people going to wake up? So he's black. I got it. Now what? That and $.85 will get you a cup of coffee these days.

The man is a politician to the core. He's not interested in anything other than votes and re-election....to the detriment of us all.

Cutting spending is hugely unpopular....so is raising taxes. The difference being that raising taxes actually has a long term, tangible negative effect on our economy, our jobs and our standard of living.

We don't have a tax problem or a revenue collection problem, we have a SPENDING problem, and thus far, Obama and his party seem too scared to do anything about it....for fear of backlash from liberals and seniors.


I don't disagree, but don't agree 100% either. Yep, he is a politician and the next one will be as well. They all are, but some how you make him sound worse than any of the others. That I don't understand. To me it sounds like there are some core things that make you decide who to vote for. If they like gays, then you don't like them, that and a few other things. I have a friend that votes for whomever is more friendly towards guns, but will never vote Dem. Seems like an odd way of deciding.

There is never any way of knowing who the lesser of evil will be. Its only an opinion at the time. Would we be out of Iraq if McCain were in office? Don't know. Would have have stayed out of Lybia? Don't know. We do know he is a Military man, so given the opportunity he may do the same. I don't know what is right or wrong.

I agree there is a spending problem, but that has been in existence before Obama, hasn't it. Going to war when we couldn't afford to do so was not a good move for our budget, but they did it anyway.

Correct me if I'm wrong, but didn't the Clinton administration balance the budget? I thought that was the case, but i could be wrong about that.

I agree that the rich should not be the savior of the country or our problems. With that said, I don't think just because people are poor, don't count and some how can always have it stuck to them.

I've heard they want to tap into Social Security. I don't know who's idea that is. Is that a good idea and is it fair?

Like I said, I'm not that savvy with all the facts of politics. I hate all the BS, so don't pay attention anymore. I don't think the Government has our best interests at heart at all. I don't care which party. Instead of fixing any of the problems such as the credit crisis etc., they put Barry bonds on trial. I think they do it to make us lose focus.

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We need to reframe the question.

No longer is being a Democrat or Republican enough....in my mind, they are two sides to the same coin now. I think it would be more appropriate to frame the debate in this context....Is the path we are on based on the Constitution? Libertarians say no.....Republicans say maybe and the Democrats call the Constitution a document of negative liberties...By this I think they mean the Constitution handcuffs the socialist agenda of taking individual liberty away. In that sense, they are right.....and the fact they complain about it should scare the crap out of every single American.

Don't vote or blame Republicans or Democrats just because they are what they are, instead vote for and support people that believe the Constitution is a timeless document inspired and written by men who feared oppressive government more than anything else. Why else would they have hated the idea of a standing army? They knew full well what governments tend to use standing armies for.....projection of force outside the counties borders and eventually, oppression within them.

Remember, "A government that governs less governs best". Author Unknown but commonly ascribed to Thomas Jefferson, Thomas Paine and perhaps even Napoleon.

In the end, the current political situation is simply a continuation of the progressive socialist attempt to subvert freedom loving people everywhere. Not just here but everywhere true freedom raises it head, it gets shot at by progressives.....don't let them fool you, they say they love democracy in the sense they want you to believe they want freedom for people....but that would be a misleading tactic....they do love democracy....just not in the way they want you to believe they do.....democracy and public debt are the tools of choice for progressives to seize control of a population. A democracy is nothing more than mob rule and a mob rarely has brains enough to think through the consequences of its actions.....witness every "democratic" revolution the last century produced....all ended in dictatorships.....Hitler was elected remember....as was Hugo Chavez and some other nasty fellows all over the world to numerous to mention by name....and public debt is nothing more than the commitment of the sitting government to enslave its population to the lenders......try saying that out loud at the next political convention you go to.

Benjamin Franklin was asked what form of government the Founding Fathers had given the people once the war was over and the Congress had met....He replied "A Republic ma'am, if you can keep it".

I fear we have lost the Republic.....

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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OBAMA for 2012 !!!

Yes we Can???
Change you can Believe in???


"Faith is the substance of things hoped for, the evidence of things not seen." --- "Therefore, I Believe it and I will see it. And every day and in every way, I am healthier, wealthier, and wiser."
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RM99 View Post
"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."

Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006

I always hear people 'complain' about this or that. Much like I do about politics and it is a never ending argument of who is right/wrong etc. and nobody ever 'wins'.

A smart person would never comment. However, to the OP, what is your concept, how do you fix this issue?

To blame Obama is ridiculous in my opinion. The United States and the world is like the phrase "turning a battleship". We are the SUM of our parts that were created many years ago by policies that make no sense.

Obama is not the problem in my opinion, but he certaintly doesn't seem to be the solution either. But, complaining about politics and political leaders is nothing but a negative control cycle that does not create positive energy. Not saying it is a requirement, but my advice to the OP is to focus on things that you can control, that you can change, that you can make a difference and I think it all starts with that. If we all did that, I do believe we would not have a debt problem....

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bluemele View Post
I always hear people 'complain' about this or that. Much like I do about politics and it is a never ending argument of who is right/wrong etc. and nobody ever 'wins'.

A smart person would never comment. However, to the OP, what is your concept, how do you fix this issue?

To blame Obama is ridiculous in my opinion. The United States and the world is like the phrase "turning a battleship". We are the SUM of our parts that were created many years ago by policies that make no sense.

Obama is not the problem in my opinion, but he certaintly doesn't seem to be the solution either. But, complaining about politics and political leaders is nothing but a negative control cycle that does not create positive energy. Not saying it is a requirement, but my advice to the OP is to focus on things that you can control, that you can change, that you can make a difference and I think it all starts with that. If we all did that, I do believe we would not have a debt problem....

Firstly, I agree, most politicians are the same.

The only way we can solve this problem is to return to an era of less FEDERAL government and states rights. States rights scares people, because they have visions of the civil rights era of the 60's and slavery.

The only solution going forward that won't tear this nation apart is states rights. States rights would at least give people a choice.

The things we're debating at the Federal level, were never intended to be handled there. They're unconstitutional. Article 1 and the enumerated powers expressly outlines what role of the Federal government should be.

Things like the FBI, Department of Defense, Border Patrol, FDA, NSA, ATF, SEC, etc, etc, etc.

Those are needs common to the states that involve national security interests and interstate commerce.

Social Security, Medicare, Education, etc, have nothing to do with either of those..and are best handled at the state level.

That would give Americans a choice. If you want to live in a state with high taxes and high entitlements, if you're in favor of strict gun control, if you like having the 10 commandments at the state courthouse, if you don't like gambling or drinking, if you support legalizing drugs, WHATEVER...

Solutions at the Federal level leave half the citizenry pissed, and severely pissed.

I would advocate the libertarian solution, but NEITHER side likes that solution berause liberals aren't liberals anymore. Liberty isn't enough for them, they now want to shove their views upon you via legislation. Conservatives have always been oppressive, nothing has changed there.

As far as complaining, I AM making a difference. I'm voicing my opinion and I'm attempting to spread knowledge and truth, to inform others.

I feel that Congressman Ryan's plan is pretty solid. The problem is that socialist Democrats cannot conceive of a nation built upon "equal opportunity." They insist upon the notion of "equal outcome."

We've seen the Democrats version of America, it's all the EU nations that are going bankrupt now. It's states like California that's losing jobs, companies and intellectual talent by the truck load. It's present in states like IL, that's losing jobs as we speak to states like WI and IN who are taking advantage of overbearing tax policies.

Socialism DOES NOT WORK. We've seen it at play in Europe. It's a short term, musical chairs type exercise and eventually, future generations have to foot the bill for the lack of production and overspending.

I personally believe, that we are destined to ride this train right into the station at full speed. It's the only way we learn these days I feel. The system is so wrong right now. Tort reform, campaign finance reform, term length reform, judicial reform, etc, etc, etc.

Our founding fathers got it MOSTLY right. They crafted a brilliant document, and if we stick to it, MOST people thrive. Those that don't, choose not to. (which is exactly why MILLIONS of people still immigrate here, rather than leave). If you can't make it in America, then you can't make it anywhere.

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