In 2006, every Democrat Senator (including Senator Barack Obama) voted against raising the debt ceiling. Among the reasons Obama listed for voting against it was that doing so would be “a sign that the U.S. government can’t pay its own bills” and “a sign that we [were dependent] on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.”
Of course, that was under George W. Bush. But now that Obama is president, and the debt ceiling of $14.3 trillion is about to end the spending spree Democrats have been on since January 2009, Obama has reversed course. Now, he not only favors raising the debt ceiling but also talks as if our nation’s very continuance depends upon doing so.
The truth, of course, is that Obama’s legacy and re-election are on the line and he knows it.
Thus everything we’re hearing from him about raising the debt ceiling is nothing more than the cry of a president who has spent his country into oblivion and is looking for a way to avoid the blame for doing so.
Senate Majority Leader Harry Reid (who also voted against raising the debt limit in 2006) is doing his best to lie to the public to save Obama from the consequences of reckless spending by pressuring Republicans into supporting he idea of raising the debt limit. To do this, he is giving them a fictional narrative of what life will be like if we decide to live within our means instead of continuing to spend money as fast as we can print it:
Default won’t just roil the financial markets, pushing interest rates higher, and tank the stock markets; it will affect every American’s wallet as well. Here are a few things that will happen. Social Security checks and veterans’ benefits and paychecks to our troops would stop.
Folks, think about it: This is a grand slam for Republicans. They can win by simply saying “no.”
And this is why all eyes are on House Speaker John Boehner. If he can rally the Republicans in Congress to oppose raising the debt ceiling he will literally end any chance Obama has of being re-elected. That’s how big the stakes are in the current debt ceiling talks.
By the way, Obama knows this is true. And that’s why he’s pressuring Speaker Boehner and the rest of the Republicans to come his way. (It’s also why he’s making outlandish claims about how “80%” of the American people want to pay higher taxes.)
Pay attention: Obama’s entire economic team has left. “A bunch of czars have left,” and Defense Secretary Gates left. Although it’s normal for a few members of an administration to move on and pursue moneymaking opportunities in the private sector, Rush Limbaugh accurately described the defections from the Obama administration as “a greater exodus than is common.”
In other words, Obama’s people have decided to jump ship rather than to go down with it.
Look folks, we literally have Obama right where we want him. Not only is he beatable, he has actually already beat himself by spending this country into the ground. Now is no time to do him a favor by raising the debt ceiling and letting him off the hook.
Speaker Boehner has the power to sink Obama’s ship, and he needs to go ahead and sink it right now by voting “no” on raising the debt limit.