Jim's Blog

Thoughts and Happenings

Obama the fiscal conservative?

Posted by Jim Rector on January 7, 2011

President Obama has taken a great stand for fiscal responsibility but coming out against attempts to raise the debt ceiling. Here’s what he said:

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.

Psych! Not really. Well, not really in 2011 but this was an exact quote of then Senator Obama in 2006. And the debt ceiling was only $9 trillion at the time. Not the paltry $14.3 trillion of today. I guess in his world $9 trillion then was a huge problem. Well evidently not anymore. The debt ceiling today is 60% higher than the one Obama said was “a sign of leadership failure” just five years ago. Obama’s economic advisor Austan Goolsbee basically said the sky will fall if Congress doesn’t raise the limit.

nationalDebt

The Obama of 2006 makes a lot more sense than the Obama of 2011. Of course then he wasn’t driving the train moving the US towards European style socialism. Then the money wasn’t being spent the way he wanted it to. Now it’s different.

The solution is simple. STOP SPENDING! Dismantle “Obamacare.” Stop all bailouts NOW! Forget financial regulatory reform. Put a real freeze on federal salaries. Defund all “Stimulus” packages.

Oh, for more statesmen like this:

"If congress can do whatever in their discretion can be done by money, and will promote the General Welfare, the Government is no longer a limited one, possessing enumerated powers, but an indefinite one, subject to particular exceptions." –James Madison

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