Debt is not debt?

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Debt is not debt?

Post  Outerlimits on Thu Sep 19, 2013 11:41 am

Obama announced today that raising the National Debt Ceiling does not increase our debt. Shocked 
 
"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."
-0bama
 
He speaks like a 16 year old who has never had a job and knows nothing about money and economics. It's freakin’ embarrassing. It is FACT that the U.S. has hit its debt ceiling "over a hundred times" and, thus, has had to keep raising it.  What more proof do you need to understand that raising the limit does lead to increased debt?
 
The sad thing is that his base will just go along with this.
 
What happened to the guy who said this back in 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.”
-Same 0bama
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Re: Debt is not debt?

Post  WHL on Thu Sep 19, 2013 12:37 pm

I actually HEARD and excerpt from that this morning Outer, and not only doesn't he understand economics better than an 8 year old, he can't speak any better than an eight year old!
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