Obama came out demanding a debt ceiling hike with no strings attached, no spending cuts, lots of taxes and one that would go beyond November 2012 to keep his presidency safe.
At this point, he is going to get none of those things.
Obama wants a long-term debt ceiling extension. What needs to be understood is that:
Over the last 40 years, there have been 37 separate debt limit increases that last 6 months or less, and never once has the federal government ultimately defaulted on its debt. Meanwhile, the $2.4 trillion increase President Obama is seeking represents the largest single debt hike in history, and, quite conveniently, it kicks the can down the road past both his and Senator Nelson’s re-election bids next year.
Obama himself underscored this fact when he said during his incredibly demagogic address to the nation on July 25:
“President Reagan did it [i.e. raised the debt ceiling] 18 times.”
Well, do the math yourself. What is 8 years divided by 18? That’s 96 months divided by 18, or about once every five months.
As I already pointed out, Democrats forced Ronald Reagan to come to them an average of every five months and nine days to plead for another debt ceiling extension. And the Obama argument that not giving him a long-term extension now is simply factually untrue. Every single president has done it over and over and over again without catastrophe; how is Obama’s presidency so weak and so incompetent that he now absolutely must have what they did not need???
The answer comes down to one simple thing: Obama’s presidency has been an unmitigated disaster. He has ABSOLUTELY NOTHING WHATSOEVER positive to run on. He certainly has nothing positive to say about himself in this debt ceiling fiasco, having never ONCE come out with any kind of plan or demonstrated any kind of leadership whatsoever. While the nation has sunk into this debt ceiling crisis, Obama has been doing an average of a campaign event every three days. So you can see where his priorities are.
Obama is a pure demagogue. What did he say to George Bush in 2006, when he joined EVERY SINGLE OTHER DEMOCRAT IN THE SENATE IN VOTING FOR A DEBT CEILING INCREASE FOR GEORGE BUSH?
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure,” he said. “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. … 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 and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.”
Obama needs to resign from office as a completely failed leader. Why should Republicans treat him one iota better than the vindictive way he treated Bush over the same issue???
Every single Democrat who is “outraged and appalled” by the Republicans’ behavior is a hypocrite who ought to be ashamed of himself or herself.
History is on Republicans’ side in every part of this debate.
As for a short-term extension – which Obama selfishly refuses because he doesn’t want this issue to derail his political campaign next year – realize that DEBT EXTENSIONS HAVE BEEN SHORT TERM AFFAIRS FOR THE LAST 40 YEARS. And why should it be any different for Obama now?
As for the amount Obama seeks “the biggest debt-limit increase in history” whether it is in sheer dollar amount or expressed as a percentage of GDP. And combined with the long-term extension he is demanding, why the hell SHOULDN’T the Republicans – who ran on cutting spending – not make HUGE demands if it is going to give up such a debt-ceiling increase???
If Democrats want to demagogue Republicans by claiming that they are “holding America hostage” (or whatever their shrill attack is), remind yourself that Barack Obama PERSONALLY used the debt ceiling to demonize George Bush, and that not a single Democrat on the Senate voted for Bush’s debt ceiling increase request in 2006. How on earth are Republicans not more than justified in holding Obama’s feet to the fire as they seek to stop the fiscal insanity and save our country and our children now???
Finally, how DARE Barack Obama bother to try to run for president again when our nation is in crisis RIGHT NOW and he is AWOL. Even The New York Times - hardly a source friendly to conservatives – has attacked Barack Obama for “being on the sidelines.” That article begins with this picture of a White House press corps wondering where the hell their president is while our country faces a crisis:
WASHINGTON — For an hour on Wednesday the White House press secretary, Jay Carney, fielded questions about what, if anything, President Obama was doing to help end the impasse in Congress over the imminent need to raise the nation’s borrowing limit.
The New York Times article proceeds to state that “Mr. Obama is in danger of seeming a spectator at one of the most critical moments of his presidency.” But he’s not in danger of seeming a spectator; HE IS A SPECTATOR AND THE COUNTRY IS IN DANGER OF HAVING ITS CREDIT RATING YANKED - the effects of which will be devastating across the economy due to higher interest rates for everything.
Obama needs to get a deal done. And all he’s doing is giving demagogic speeches that further divide a nation that – cynical and deceitful promises to the contary - he has already divided enough.