The Corner

Obama: Not Always a Fan of Upping Debt Ceiling

While President Obama’s economic advisor Austin Goolsbee argued Sunday that a refusal by the Senate to increase the government’s debt ceiling (currently $14.3 trillion) would be “catastrophic” and a sign of “insanity,” that’s not the position the president has held in the past.

Here are Obama’s thoughts on the debt limit in 2006, when he voted against increasing the ceiling:

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. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Obama did not bother to vote. (He did vote for TARP, which increased the debt limit by $700 billion.)

Sen. Jim DeMint (R., S.C.) told Human Events in an interview released today that the decision about the debt ceiling “needs to be a big showdown” in the Senate.

“We are going to cut [spending] necessary to stay within the current levels, which is over $14 trillion,” said DeMint.

Katrina Trinko — Katrina Trinko is a political reporter for National Review. Trinko is also a member of USA TODAY’S Board of Contributors, and her work has been published in various media outlets ...

Most Popular

U.S.

The Rise of the Chinese-American Right

On June 13, during a nasty storm, a group of Chinese New Yorkers gathered in front of the gates of Gracie Mansion, the New York mayor’s residence on the Upper East Side, to protest. Inside, Mayor Bill de Blasio was meeting with two dozen or so representatives of the Asian-American community to discuss his ... Read More
White House

The Trump Steamroller

As we settle into high summer and the period of maximum difficulty in finding anything to fill in hours of television news, especially 24/7 news television, two well-established political trends are emerging in this pre-electoral period: The president’s opponents continue to dig themselves into foxholes that ... Read More
White House

Trump and the ‘Racist Tweets’

What does “racist” even mean anymore? Racism is the headline on President Trump’s Sunday tweets -- the media-Democrat complex assiduously describes them as “racist tweets” as if that were a fact rather than a trope. I don’t think they were racist; I think they were abjectly stupid. Like many ... Read More
Elections

How Beto Made Himself into White-Privilege Guy

Robert Francis O’Rourke is white. If it’s any consolation, he’s very sorry about that. “Beto” has been running from his Irish ancestry for some time now. Long before the Left fell headlong into the logical termini of its triune fascination with race, power, and privilege, O’Rourke sensed that there ... Read More