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#1 Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 109-19-2013, 09:03 AM
September 18, 2013 - 3:54 PM
By Craig Bannister
Raising the debt ceiling doesn't increase the nation's debt, Pres. Obama declared in a speech today.
In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past:
"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; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."
Obama went on to suggest that "the average person" mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:
So...it's magic!!!!May the FORCE be with you!
09-19-2013, 10:35 AM
Well, in the most technical sense of the term, this is true. Raising the debt ceiling is like raising the limit on a credit card; you have more credit, but you don't have to use it. However, expecting this administration not to spend to the newly raised credit limit is like expecting teenaged boys to behave responsibly with a bottle of scotch and the keys to the family car.--Odysseus
Sic Hacer Pace, Para Bellum.
Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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