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: Instapundit.comWASHINGTON EXAMINER: Using The Debt Ceiling To Send A Powerful Message. Austan Goolsbee, Obama?s?
By Glenn Reynolds
WASHINGTON EXAMINER: Using The Debt Ceiling To Send A Powerful Message.
Austan Goolsbee, Obama’s chairman of the White House Council of Economic Advisers, expounds in horror that not raising the national debt ceiling yet again would be “insanity.” Goolsbee should consult a floor speech delivered not so long ago by a certain member of Congress who offered this counterargument to automatic debt ceiling increases: “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 we now depend on ongoing financial assistance from foreign countries to finance our government’s reckless fiscal policies.”
Which die-hard Tea Party wingnut said that? It was none other than Sen. Barack Obama, D-Ill., speaking on the Senate floor in 2006 just before he voted against raising the debt ceiling. Obama was right.
Read the whole thing.
Full post as published by Instapundit.com on January 05, 2011 (boomark / email).
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