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Obama on the Debt Ceiling

"The fact that we are here today to debate raising America%E2%80%99s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can%E2%80%99t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our government%E2%80%99s reckless fiscal policies. %E2%80%A6 Increasing America%E2%80%99s debt weakens us domestically and internationally. Leadership means that %E2%80%9Cthe buck stops here.%E2%80%9D Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

Barack Obama, 2006
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