Dumbama FAILS Math!

Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 100 Times'

Raising the debt ceiling doesn't increase the nation's debt, Pres. Obama declared in a speech today.

In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past:

"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."

Obama went on to suggest that "the average person" mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:

"It's always a tough vote because the average person thinks raising the debt ceiling must mean that we're running up our debt, so people don't like to vote on it, and, typically, there's some gamesmanship in terms of making the President's party shoulder the burden of raising the -- taking the vote."

But, isn't the fact that the U.S. has hit its debt ceiling "over a hundred times" - and, thus, has had to keep raising it - proof that raising the limit does, in fact, lead to increased debt?

Welcome back Marshy, where have you been?

A lesson in Obamanomics from the constitutional law professor. It would be hilarious if it wasn't so pathetic.

Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 100 Times'

Raising the debt ceiling doesn't increase the nation's debt, Pres. Obama declared in a speech today.

In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past:

"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."

Obama went on to suggest that "the average person" mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:

"It's always a tough vote because the average person thinks raising the debt ceiling must mean that we're running up our debt, so people don't like to vote on it, and, typically, there's some gamesmanship in terms of making the President's party shoulder the burden of raising the -- taking the vote."

But, isn't the fact that the U.S. has hit its debt ceiling "over a hundred times" - and, thus, has had to keep raising it - proof that raising the limit does, in fact, lead to increased debt? Originally Posted by therock18

raising the debt ceiling doesn't increase the debt, it simply allows the country to meet its obligations ...

but you're an idiot so wtf do you know?


http://www.treasury.gov/initiatives/...ct%20FINAL.pdf

Congress has always acted when called upon to raise the debt limit. Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents.

Clank, clank, clank, clank.........the can has been continually kicked down the road by both Democrats and Republicans for decades.

I guess since everybody does it, it must be ok. After all, we keep re-electing the same people who keep doing it, time and time again.

Clank, clank, clank, clank.........the can has been continually kicked down the road by both Democrats and Republicans for decades.

I guess since everybody does it, it must be ok. After all, we keep re-electing the same people who keep doing it, time and time again. Originally Posted by Jackie S

the can has been continually kicked down the road by both Democrats and Republicans for decades.


and obviously the republicans still don't understand the debt ceiling

raising the debt ceiling doesn't increase the debt, it simply allows the country to meet its obligations ...

but you're an idiot so wtf do you know?


http://www.treasury.gov/initiatives/...ct%20FINAL.pdf

Congress has always acted when called upon to raise the debt limit. Since 1960, Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit – 49 times under Republican presidents and 29 times under Democratic presidents. Originally Posted by CJ7

Gawd, you are a Kool-Aid sotted moron. You believe that shit. You believe we can can get a limit increase on our credit card, spend up to the limit, but we are no further in debt. Even the big Obamatron in Chicago almost threw a bearing sending that horseshit out. Truly, you are a blinded, dyed-in-the-wool, lifelong Obamaton. I bet when you read 1984, you didn't understand why everyone didn't like Big Brother.

Gawd, you are a Kool-Aid sotted moron. You believe that shit. You believe we can can get a limit increase on our credit card, spend up to the limit, but we are no further in debt. Even the big Obamatron in Chicago almost threw a bearing sending that horseshit out. Truly, you are a blinded, dyed-in-the-wool, lifelong Obamaton. I bet when you read 1984, you didn't understand why everyone didn't like Big Brother.

Originally Posted by CuteOldGuy

the raise is for $$ we've already spent you stupid shitstain

http://www.politifact.com/truth-o-me...-18-times-geo/


snick

Ok. You've already overspent your limit, so you beg MasterCard to increase your limit so your purchases don't bounce. Only in a Kool-Aid sotted Obamaton world does such activity NOT increase your debt.

You have completely abandoned reality, CBJ7.

I truly hate to defend Obama on this one, but the way he says it, it is like actually just getting the increase in the spending limit on the credit card. Bit of sophistry there, but technically true. You go deeper in debt when you spend the money in excess of revenues, not getting permission to spend the money.
Anyway, it will never get paid back. Deficit spending and QE2 is preferable to raising taxes, as long as foreigners are stupid enough to take our money printed in this Ponzi scheme of a government.

Ok. You've already overspent your limit, so you beg MasterCard to increase your limit so your purchases don't bounce. Only in a Kool-Aid sotted Obamaton world does such activity NOT increase your debt.

You have completely abandoned reality, CBJ7. Originally Posted by CuteOldGuy

+1

Well put Corpy.

Best explanation but LIBTARDs are too stupid to understand

Ok. You've already overspent your limit, so you beg MasterCard to increase your limit so your purchases don't bounce. Only in a Kool-Aid sotted Obamaton world does such activity NOT increase your debt.

You have completely abandoned reality, CBJ7. Originally Posted by CuteOldGuy

Best explanation but LIBTARDs are too stupid to understand Originally Posted by therock18

so shut down the government then bitch about the economy .... oh yeah, better move your stock portfolio to cash if you have one