As The Debt Ceiling Increases, Name Calling Ends for Obama

As the debt ceiling grows rapidly, president Obama is no longer in a position to call former president Goerge.W.Bush ‘unpatriotic’. Last week, the Obama administration requested to raise the debt ceiling to $16.4 trillion. He wants it to be up by $1.2 from the last year.

When the money spent by the government exceeds the revenue collected, money is borrowed to deal with the deficit created. Debt ceiling is the limit placed by the American Treasury beyond which the American government cannot borrow. This is not new to the Obama administration. The debt ceiling at the time he entered was $10.6 trillion. Within a month of his settling in to office, it was raised to $12.1 trillion.

In March 2006 when Bush wanted to raise the debt to $8.9 million trillion, Obama was one of the Senate Democrats to vote against it. He said it was a sign of leadership failure and later in 2008 during his campaign; he openly called it ‘un-American’. He criticized Bush for having taken the country’s $5 trillion debt and adding another $4 trillion all by himself. He called that irresponsible and unpatriotic. In February 2009, Obama said by the end of his first term he could cut the deficit in half. Only in April 2011 did he express his regret for the stance he had taken.

As the U.S was about to hit its statutory ceiling, another raise was proposed. The republicans approved of it unless there was a veto proof majority against it. Last week, the Senate voted to let the president hike the borrowing capacity of the nation. This would be his 5th increase since his term as the president. Bush had only seven increases in all of his eight years.

Many people have raised their concern and disagreement about this issue. Congressman Paul Ryan feels that the country is not getting the kind of leadership it needs. He accused the president of not tackling the fiscal crisis they are in. He went on to say that the country needs a new president and a new Senate that will be specific about how these problems will be solved. Senator Orrin G. Hatch said the United States should learn from the European Countries that spent too much.

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