Debt Ceiling

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. … 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. - 2006 - then Sen. Barack Obama arguing against raising debt ceiling. (http://bit.ly/fOyeFt)

I agree with you Mr. President.

Record Deficit

Pelosi said " this 110th Congress will commit itself to a higher
standard: Pay as you go, no new deficit spending". As it stands since
Dems gain majority $5.34 trillion was added to the deficit.
http://bit.ly/gNh3km

To put this into perspective:
- All American's in 2005 took home slightly over $7.7 trillion in
income.
- If you put in a cookie jar $7 million every day since Jesus was born you still wouldn't have collected $5.34 trillion.
- You would have to collect over $2030 per second for 2000 years to match $5.34 trillion!
- With Dems in control of spending they averaged $3.66 billion per day. The entire U.S. spending for a complete year did not surpass that amount until 1918 when we entered WW I.