In an effort to allay fears about increasing the debt ceiling, Barack Obama declared Wednesday that raising the ceiling doesn’t increase the nation’s debt, noting that it had been done over a hundred times before.
Um, what? Speaking at the Business Roundtable headquarters in Washington, D.C., Obama said:
“Now, this debt ceiling – I just want to remind people in case you haven’t been keeping up – raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you’ve already racked up, Congress. It’s a basic function of making sure that the full faith and credit of the United States is preserved.”
Hold the boat – and please excuse my bluntness. “The bills that ‘you’ve’ already racked up, Congress?” What a disingenuous hypocrite.