"Now, the other congressionally imposed deadline coming up is the
so-called debt ceiling -- something most Americans hadn’t even heard of
before two years ago. I want to be clear about this. The debt ceiling
is not a question of authorizing more spending. Raising the debt
ceiling does not authorize more spending. It simply allows the country
to pay for spending that Congress has already committed to. These are
bills that have already been racked up and we need to pay them.
"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," Senator Obama said before a March 16, 2006, vote on
raising the debt limit.
"Because this is about paying your bills. Everybody here understands this. I mean, this is not a
complicated concept. You don’t go out to dinner and then eat all you
want, and then leave without paying the check. And if you do, you’re
breaking the law. And Congress should think about it the same way that
the American people do. You don’t -- now, if Congress wants to have a
debate about maybe we shouldn’t go out to dinner next time, maybe we
should go to a more modest restaurant, that’s fine. That’s a debate
that we should have. But you don’t say, in order for me to control my
appetites, I’m going to not pay the people who already provided me
services, people who already lent me the money. That’s not showing any
discipline. All that’s doing is not meeting your obligations. You
can’t do that."
The issue (showing a lack of discipline) is that reasonable people don't think about going to dinner when they know they can't afford it. You don't tell everyone to get dressed and that "we're" going out to eat when you know that you've already maxed out every credit card you own due to the last few parties you treated everyone to over the last few years. No one wants to look that foolish. When Obama took office the debt ceiling was $11.315 trillion and today it stands at $16.394 trillion. The money has run out so another increase is required. Is it possible for you and I borrow our way out of debt? Does it make sense to have a loan that is 10 times your annual income? Would you try to carry a million dollar house if you earned 100,000 a year? I can tell you from person experience that it just can't be done. Yes, someone else got to party with the money before he came to office, but this me too attitude with borrowing needs to stop. Enough is enough. Everyone keeps talking about growing the economy... all I see is growing debt. There is no plan to stop this. Wake up ladies and gentlemen, we're going to be living with this problem. We didn't make the $10.7 million that Obama did over the last 4 years... with lifetime health care and a $200,000 a year pension ahead of us. Look it all up. Google is your friend.
