According to Obama, raising the debt ceiling by $2 Trillion, does NOT raise the debt. If you remember, when Bush was President, Obama claimed that is was a lack of leadership that the debt ceiling needed to be raised. Does that still apply Mr. President?
Obama recently said, “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.”
Get that you stupid American people? I’m smarter than the average American and know what I’m doing – I went the Harvard and got a law degree (doesn’t matter that I gave it up since the Illinois Bar was going to revoke it!) You’re just too stupid to understand this government stuff so just trust me when I say that raising the debt ceiling is really a good thing because it ensures the full faith and credit of the US.
I guess it is no wonder that the American people give Obama low marks when it comes to Obama handling the economy!
Most Americans have lost creditability with Obama when it comes to economics. Especially, when the with statements like that, who can blame them?