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View Full Version : Obama Regrets His Vote Against Raising Debt Limit



huntinman
04-11-2011, 01:20 PM
So now he regrets it? Sure he does...

WH: Obama regrets vote against raising debt limit
Associated Press Associated Press
5 mins ago

.WASHINGTON The White House says President Barack Obama regrets his vote as a senator in 2006 against raising the debt limit.

A fight over raising the debt limit is looming, and the White House is trying to explain away the apparent contradiction between Obama's previous opposition, and his position now that it must be increased.

Press Secretary Jay Carney said Monday that Obama believes his vote was a mistake. He said Obama now realizes that the debt ceiling is too important to be trifled with.

Republicans are threatening to withhold their votes to raise the ceiling unless Obama agrees to major spending reductions.

A failure to raise the debt limit would mean the government would not be able to make debt payments, leading to an unprecedented default on the national debt.

subroc
04-11-2011, 01:28 PM
sometimes playing partisan politics can come back around and bite you in the a$$.

Gerry Clinchy
04-11-2011, 08:27 PM
I admit to not being the brightest bulb in the chandelier when it comes to formal economics.

But ...

Geithner says that we will reach the legal debit limit by May 16. Yet, it was the devil to pass this last budgetary funding with $38.5 billion in cuts v. $61 billion. If we had cut the whole $61 billion would we have had more of a breather before the debt limit was reached?

If so, this last month of haggling should have been a moot point?

They're saying (the WH & its spokespeople) that failing to raise the debt limit would cause Armageddon-like impact on the economy. That says a lot on how badly in debt the country is?

The Ds are ripping up the Rs as being "heartless" on spending cuts. I think that bunch of freshman Congresspeople are showing some courage in making the attempt to honor their campaign promises in spite of pressure to "go along". Even if one disagrees with some of their cuts, they are putting pressure on the "go-along-get-along" mold in DC.

dnf777
04-11-2011, 08:47 PM
I would think its more important to eliminate the NEED to raise the debt limit, than to eliminate the legal authority to. One will address the root of the problem (too much spending or not enough revenue) and the other will amount to legal wrangling that is pretty only on paper.

BrianW
04-12-2011, 09:15 AM
According to this article http://www.mygovcost.org/2011/02/17/obamas-2012-budget-1-5-trillion-in-new-taxes-over-ten-years/ , PBO's 2012 budget includes $1.5 Trillion in NEW taxes over 10 years. That only begins to address this years deficit, never mind the current debt and the interest due on that and the future deficits. These taxes will be on the backs of the middle class & small business, ostensibly the ones the Democrats claim to be the champions for.

That the Dems like Schumer, Slaughter et al were railing on & on about the "reckless & extreme" $38 billion in cuts "negotiated" :rolleyes: over the "shutdown" shows, to me, that they can not not be part of the solution, because they are are a big part of the problem.

I agree that "its more important to eliminate the NEED to raise the debt limit" These clowns ARE "the need". Our country requires an intervention and having these cash/credit "crack addicts" in charge of the rehab program will guarantee failure, imo.
I bet Lindsey Lohan could do a better job. :barf: