The Foundry - President Obama wants to do away with Congress when it comes to raising the country’s legal debt limit. Instead of getting permission from the people’s elected representatives to borrow and spend more money, he wants to do that all by himself.
It seems typical of the President Obama we know, but just a few years ago, he spoke vehemently against putting America in debt. Here is then-Senator Barack Obama on March 16, 2006:
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.Of course, in Washington, one’s convictions can change with the electoral winds. And so this is the same man who today, as our President, is seeking unlimited authority to raise the country’s debt limit anytime, anywhere, all by himself. No Congress needed.