John Bolton

John Bolton

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Saturday, December 12, 2009

Dems to Skyrocket National Debt: Obama's Leadership Failure?

The Gross National Debt:

"Raising America’s debt limit is a sign of leadership failure."
--Sen. Barack Obama
from a speech he delivered on the Senate floor, March 16, 2006
Obama spoke those words in 2006 when Republicans still controlled Congress. One year later, when Democrats were in charge and began the first of their record increases in debt Obama didn't even show up to vote. He was too busy running for President. In 2008 he did show up to vote FOR increasing the debt under a Democrat plan.

In February 2009 Democrats again raised the debt ceiling $789 billion to pay for the first installment of Obama's government takeover. Ten months later they are back again, asking for another $1.8 TRILLION increase in the debt limit.

It's the largest single increase in the debt limit and part of an accelerating pattern of increases since Democrats took control of Congress in January 2007. According to the White House Office of Management and Budget during the 12 years Republicans controlled Congress the debt was increased by slightly more than $4 trillion. Under less than three years of Democrat control the debt is set to increase by more nearly $5 trillion.

Obama campaigned on a promise of fiscal responsibility. He had the audacity to hold one of his White House "Summits" on fiscal responsibility in February where he once again promised: "We need to send a signal that we are serious" about solving these fiscal problems.

All this time the red ink flows like a Tsunami of proportions that have never been seen before.

Republicans Stand United and Firm in Opposition to Fiscal Irresponsiblity

Before Democrats can pass the 2,500 page omnibus spending bill to fully fund government operations for the remainder of this fiscal year they must pass the increase in the debt ceiling. Action starts in the House of Representatives where Republicans are standing firm:

I think it’s very credible to oppose increase in the debt ceiling, and you’ll see Republicans vote against it. And we’ll vote against it because of their trillion-dollar stimulus plan that hasn’t worked. We’ll vote against it because of all of this excessive spending that’s in this bill right here, a 12 percent increase with 5,000 earmarks -- all of it pushing the debt to record heights. And while I understand the political games that get played around here, it will be an opportunity for us to point out the excessive spending that’s going on in this Congress. (1)
Before taking office, the President said he would go through the budget and these bills ‘line-by-line, page-by-page.’ After Congress passed the $410 billion omnibus spending bill with more than 9,000 earmarks, the President signed it, and said, ‘well that was last year’s business.’ Now the President says reducing the deficit is next year’s business – that we need to ‘spend our way’ out of this economic recession we’re in.

Well I think the President ought to go through this bill line-by-line and page-by-page, all 2,500 pages of it. And then maybe he’ll figure out, we don’t need to be spending this money that we don’t have and piling more and more debt on the backs of our kids and grandkids. Instead, our bond rating, our AAA bond rating is in jeopardy and our Democrat friends want to raise the debt limit next week by $1.8 trillion. Instead, let’s stop the madness and vote ‘no.’ (2)

--House Republican Leader John Boehner (R-OH)
Since I know the "news" media is more interested in Tiger Woods than fiscal issues, I'll offer readers Boehner's three minute speech on the House floor here.

Offering more than just outrage Republicans present real solutions:

Congressman Steve Scalise (R-LA) today introduced H.R. 4262, the Control America’s Purse-strings to Deliver a Better Tomorrow (CAP the DEBT) Act. Scalise’s bill would require a two-thirds majority in both the U.S. House of Representatives and the U.S. Senate in order to increase the national debt ceiling. His bill also repeals the Gephardt rule which currently allows lawmakers to increase the federal debt ceiling as an attachment to other budget resolutions.
Over 50 members have already signed as co-sponsors to this bill. On Friday, a press conference where members expressed their support:

But with Democrat control of both houses it's unlikely that GOP ideas for fiscal responsibility will see the light of day. All the more reason to support a GOP comeback in 2010. Only then will fiscal responsibility stand a chance.


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