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Senator Barack Obama March 16, 2006

posted 7/26/2011 6:55:30 PM |
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  CentsofHumor

Verified on Snopes...

This is from a speech Obama made in 2006:

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.

Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.

Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.

Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006

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Comments:
ElmerFudd445

Jul 26 @ 7:06PM  


Whatcha trying to say here??

What makes you think he feels any different today?

From what I understand and see in the news.. He's still wanting to be at the table with talks.. I see the Republicans stepping away.. .I would think no matter what they "believe", they should still be sitting their pounding there fist on the tables trying to come up with a budget.. Instead they are making the situation worse..

OF course, this may be all show too.. so who knows.. politics has become such a smoke and mirrors game.. It's impossible to know what the truth is anymore..
tw56

Jul 26 @ 7:10PM  
So the mystery man has left some tracks. He almost sounds like a republican.
texasgirl8585

Jul 26 @ 7:23PM  
They all try to sound like Republicans when it suits their purpose.
wordsofwit

Jul 26 @ 8:15PM  
Verified on Snopes...

Great, now where is the link? I did a search on snopes, I couldn't find it. Prove your statements, please.
LOVER17

Jul 26 @ 9:19PM  
Great, now where is the link? I did a search on snopes, I couldn't find it. Prove your statements, please.

Link

Ever try googling, Bruce? You know Obama's name, and the date was also given when he gave his speech on the floor. Not hard to find...
Jacksonboy

Jul 26 @ 9:32PM  
Here is the link with him admitting the vote against the debt limit increase was wrong.

President Obama
wordsofwit

Jul 26 @ 10:24PM  
Ever try googling, Bruce? You know Obama's name, and the date was also given when he gave his speech on the floor. Not hard to find...


Of course, but the poster said it was
Verified on Snopes...
so I just searched there, I couldn't find the link on Snopes and apparently, neither did you
LOVER17

Jul 26 @ 10:58PM  
I couldn't find the link on Snopes and apparently, neither did you
If you said you couldn't find a link over there about it, then why on earth would I even go over there to check for a link then?

I just thought that since you couldn't find it over there, you would have taken it a step further by googling for the link.
RANDY72

Jul 26 @ 11:33PM  
snopes? did any of try micky mouse or donald duck?

Not a bit of difference in their credibility and you will get the same answers
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Senator Barack Obama March 16, 2006