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Obama: ‘Raising the Debt Ceiling…Does Not Increase Our Debt,’ Though It Has ‘Over 100 Times’

Posted By admin On September 19, 2013 @ 5:46 am In Featured Stories,U.S. News | Comments Disabled

Craig Bannister
CNS News [1]
September 19, 2013

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 [2] 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:

“It’s always a tough vote because the average person thinks raising the debt ceiling must mean that we’re running up our debt, so people don’t like to vote on it, and, typically, there’s some gamesmanship in terms of making the President’s party shoulder the burden of raising the — taking the vote.”

But, isn’t the fact that the U.S. has hit its debt ceiling “over a hundred times” – and, thus, has had to keep raising it – proof that raising the limit does, in fact, lead to increased debt?


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URL to article: http://www.prisonplanet.com/obama-raising-the-debt-ceiling-does-not-increase-our-debt-though-it-has-over-100-times.html

URLs in this post:

[1] CNS News: http://cnsnews.com/mrctv-blog/craig-bannister/obama-raising-debt-ceilingdoes-not-increase-our-debt-though-it-has-over

[2] speech at the Business Roundtable: http://www.whitehouse.gov/the-press-office/2013/09/18/remarks-president-business-roundtable

[3] White House Defends Obama’s Senate Vote against Raising Debt Ceiling But Warns of Catastrophe If GOP Doesn’t Raise Debt Ceiling: http://www.prisonplanet.com/white-house-defends-obama%e2%80%99s-senate-vote-against-raising-debt-ceiling-but-warns-of-catastrophe-if-gop-doesn%e2%80%99t-raise-debt-ceiling.html

[4] White House Says Obama ‘Regrets Vote Against Raising Debt Ceiling in 2006, Calls It ‘Mistake’: http://www.prisonplanet.com/white-house-says-obama-%e2%80%98regrets-vote-against-raising-debt-ceiling-in-2006-calls-it-%e2%80%98mistake%e2%80%99.html

[5] Senate Attempt To Block Debt Ceiling Increase Fails: Debt Target Is Now $15.2 Trillion, Or Over 100% Of GDP: http://www.prisonplanet.com/senate-attempt-to-block-debt-ceiling-increase-fails-debt-target-is-now-15-2-trillion-or-over-100-of-gdp.html

[6] Obama Wants Dictatorial Power to Increase Debt: http://www.prisonplanet.com/obama-wants-dictatorial-power-to-increase-debt.html

[7] Stop Raising the Debt Ceiling: http://www.prisonplanet.com/stop-raising-the-debt-ceiling.html

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