×

Please verify

Watch LIVE

Notable & Quotable: Obama's *unique* take on the debt ceiling

News
WASHINGTON, DC - SEPTEMBER 18: U.S. President Barack Obama addresses members of the Business Roundtable September 18, 2013 at the Business Roundtable Headquarters in Washington, DC. Obama spoke on various topics including the national debt ceiling and immigration reform, and then answered questions from the members after his address. Credit: Getty Images

The trouble with raising the debt ceiling, according to President Obama, is that people think it's somehow related to the debt. Silly us.

Via Craig Bannister (emphasis mine):

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."

Ha.  Nice recovery there, chief.

Most recent
All Articles