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.
– Senator Barack Obama, 16 March 2006
This was the future US President speaking out against raising America’s debt ceiling to $8.965 trillion. Perhaps he was reading the teleprompter speech for a Republican senator by mistake… Quote hat tip: Gary North
Just hat is it about assuming governmental power that turns people into mind addled debt junkies after years of perfectly reasonable calls for reducing said debt? It’s not just Ireland’s favourite son (after Daniel O’Donnell) Barry O’Bama, here in the UK David Cameron has spoken time and again about reducing debt and spending cuts, yet UK government borrowing is increasing.
Curiously both men are wedded to the idea of huge sums of public money being spent ‘fighting climate change’ with windmills, and increasing the cost of energy, making us poorer and subsidy hungry renewable power firms very rich indeed. Could such waste be linked to our rising debt, perhaps?