Here's another good one Dan: Obama’s 2006 speech on the debt limit<quoted text> “I think if you look at the history, getting votes for the debt ceiling is always difficult, and budgets in this town are always difficult.”
— President Obama, news conference, Jan. 14, 2013
“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.... I therefore intend to oppose the effort to increase America’s debt limit.”
— Then-Sen. Barack Obama, floor speech in the Senate, March 16, 2006
“Mr. President, I rise today to talk about America’s debt problem. 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.”
Here, Obama is sounding a bit Tea Partyish.
“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 five 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.”
Obama’s language is remarkably similar to charges made by the Mitt Romney campaign against Obama during the 2012 election, though Romney mostly focused on the debt held by China.(Japan was ignored.) When Obama took office in the midst of the Great Recession, the total national debt was $10.6 trillion; it is now $16.4 trillion.