Dems On Debt In 2006

[red states rule]

Thanks to Al Gore's Amazing internet I found these statements made by Dems in 2006 when the debate over raising the debt ceiling was going on in 2006.

From Harry Reid:




“If my Republican friends believe that increasing our debt by almost $800 billion today and more than $3 trillion over the last five years is the right thing to do, they should be upfront about it. They should explain why they think more debt is good for the economy.

“How can the Republican majority in this Congress explain to their constituents that trillions of dollars in new debt is good for our economy? How can they explain that they think it’s fair to force our children, our grandchildren, our great grandchildren to finance this debt through higher taxes. That’s what it will have to be. Why is it right to increase our nation’s dependence on foreign creditors?

“They should explain this. Maybe they can convince the public they’re right. I doubt it. Because most Americans know that increasing debt is the last thing we should be doing. After all, I repeat, the Baby Boomers are about to retire. Under the circumstances, any credible economist would tell you we should be reducing debt, not increasing it. Democrats won’t be making argument to supper this legalization, which will weaken our country. Weaken our county.”


http://www.rove.com/notes/291





and ALL the currently serving Dems in the Senate voted AGAINST raising the Senate

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Did anyone read/hear any stories in the liberal media about a default, or pending economic catastrophe like we are now?

Any comments Gabby, Wind Song, or Virgil?

[fj1200]

... Wind Song...

She apparently has already used up her list of talking point responses.

[red states rule]

She apparently has already used up her list of talking point responses.

Some of the talking points she might offer up would be:

1) Fox news in not a credible source

2) Well, that was different then - Bush was President

3) The Dems are now spending thrillons so the country does not go bankrupt

Those are for starters

[red states rule]

and here is Sen Obama on the debt issue in 2006. My how things have changed





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 <NOBR>financial assistance (http://www.debatepolicy.com/#)</NOBR> 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. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s <NOBR>Health Insurance (http://www.debatepolicy.com/#)</NOBR> Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and <NOBR>veterans benefits (http://www.debatepolicy.com/#)</NOBR> combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.
Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.

Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006

http://geekpolitics.com/obama-on-raising-the-debt-ceiling/