Thursday, October 24, 2013

Quote of the Decade - Obama on Debt

Many emails we receive are filled with misinformation and half truths. However, this one is true. President Obama was a Senator before he improved his pay grade. He said then in a speech, that raising the debt limit indicates leadership failure. He voiced disapproval of the additional 3.5 Trillion Dollars added to the debt in the previous 5 years, from 2001 to 2006, saying that this money was borrowed from government programs, foreign countries and taxpayers.

As it turned out, Senator Obama became President Obama and the debt went from about 10 Trillion Dollars to about 17 Trillion Dollars at the present in 2013. That's a 7 Trillion increase, which is twice the amount Obama made his speech about. Below, you can see the email going around about Obama and the National Debt, titled Quote of the Decade.

After you read the email, check out the entire speech at Snopes. The email excises the first and last paragraphs of the entire speech, which you should read; it will just take 5 minutes. Also at Snopes is Obama's explanation of his change of position on the debt. The National Debt is a complex issue and you can learn more about it by starting with this article on Wikipedia.


Words can comeback to haunt us.

The Quote of the Decade:

"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 US Government cannot 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."

~ Senator Barack H. Obama, March 2006

Dang, crow must taste good.

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