Will I obliterate national debt? Sure, why not?
Our nation stands at the crossroads of liberty. Crushing national debt, rampant illegal immigration, insane business regulations and staggering national unemployment are pushing our nation into unchartered territory.
What our Republican friends are doing, if we look at what they do and not what they say, they have decided that the most important thing in this country is to increase payments for interest on the national debt.
What we are effectively doing, I say this to the young people of America whom my colleagues represent, is leaving our children and grandchildren the tab for fighting a war, letting them pay for the lion's share of it by simply adding it to the national debt.
Mr. Obama denounced the $2.3 trillion added to the national debt on Mr. Bush's watch as 'deficits as far as the eye can see.' But Mr. Obama's budget adds $9.3 trillion to the debt over the next 10 years. What happened to Obama the deficit hawk?
Obama seemed poised to realign American politics after his stunning 2008 victory. But the economy remains worse than even the administration's worst-case scenarios, and the long legislative battles over health care reform, financial services reform and the national debt and deficit have taken their toll. Obama no longer looks invincible.
On any measure, Spain's bank rescue has been a disaster. A hundred million euros have been added to the national debt, ten-year bonds are at a record high and the country's credit rating has been downgraded three notches.
The Missourians I hear from just don't buy the idea that the only way to tackle the national debt is to drastically alter Medicare and Social Security.
The U.S. has a law on the books called the debt limit, but the name is misleading. The debt limit started in 1917 for the purpose of facilitating more national debt, not reducing it. It still serves that purpose. It's unconnected to spending, hurts our credit rating and has been an abject failure at limiting debt.
The truth is we need to build an economy going forward with all of us, when we all move forward and the payment of a national debt is not the responsibility of one group of Americans versus another.