In 2006, then Senator Barack Obama voted against raising the debt ceiling. At the time, he said this:
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.
Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better
In 2007 and in 2008, when the Senate voted to increase the limit by $850 billion and $800 billion respectively, Senator Obama did not even bother to vote. He now probably wishes he hadn’t voted on the issue in 2006. Now, of course, the President is singing a different tune.
In an interview to be aired by ABC News, President Obama has admitted that politics drove his thinking in 2006 when he voted against raising the debt limit. “That was just an example of a new senator making what is a political vote as opposed to doing what was important for the country,” Obama said, “I’m the first one to acknowledge it.”
Obama said he now understands why Republicans are concerned about voting to raise the debt limit, characterizing it as a “lousy vote.” He continued, “Nobody likes to be tagged as having increased the debt limit for the United States by a trillion dollars.”
The President added if Senators could see what he sees as President, they wouldn’t vote against raising the limit. “As President, you start realizing…we can’t play around with this stuff. This is the full faith [and] credit of the United States.”