President Obama said on Jan. 12th, “Congress can pay its bills or it can fail to act and put the nation into default,” acting as if he had no responsibility for the $5 trillion debt that was incurred during his first term. Spending soared from $2.98 trillion in 2008 to $3.46 trillion in 2009, largely due to his stimulus package which he supported and signed. On the 14th of January he stated, ”Raising the debt limit does not authorize more spending, it simply allows the country to pay for spending the Congress has already committed to.” Which is the spending he has signed.
The Democratic Senate did not pass a budget for three years and so spending was maintained at that astronomical level for the next three years by using “continuing resolutions,” which he also signed.
His claim that the nation would go into default is also ridiculous, for there are enough taxes collected to meet our debt requirements as well as Social Security, Medicare and military needs and the Treasury Department determines which bills are paid first.
He has a bad memory and either he does not know how our government works or he is trying to fool us.