“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 cannot 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.
Increasing America ‘s debt weakens us domestically
and internationally. Leadership means that, “the buck
stops here.’ 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.”
~ U.S. Senator Barack H. Obama, March 2006