Obama Regrets Vote Against Raising Debt Limit

(AP) WASHINGTON -- The White House said Monday that President Barack Obama regrets his vote as a senator in 2006 against raising the debt limit - a vote he's now pressuring Congress to take.

Obama "thinks it was a mistake," presidential spokesman Jay Carney told reporters. "He realizes now that raising the debt ceiling is so important to the health of this economy and the global economy that it is not a vote that, even when you are protesting an administration's policies, you can play around with."

The country will reach the current debt limit of $14.3 trillion by May 16. If Congress doesn't raise it, the government would not be able to make debt payments, leading to an unprecedented default of the national debt and driving up borrowing costs for the government, U.S. companies and consumers, the Treasury Department warns.

Republicans who control the House are threatening to withhold their votes to increase the debt ceiling unless Obama agrees to major spending cuts. That's setting up a clash that could overshadow the budget fight that nearly resulted in a government shutdown before a last-minute deal was struck Friday night.

Carney said Monday that Obama wants Congress to send him a debt limit bill that doesn't include spending cuts or other budget items. But he stopped short of saying Obama would veto the legislation if Congress didn't comply.

House Speaker John Boehner, R-Ohio, has said there's no chance Republicans will agree to increase the debt limit unless the White House makes major concessions on spending at the same time.

Congress is forced to increase the debt limit every several years and it's often a political fight with members of the minority party withholding their votes to extract concessions or direct criticism at the party that controls the White House.

That was the case in 2006 when Republican George W. Bush was president and Obama, a freshman senator from Illinois, declared on the Senate floor: "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. ... 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."

Today similar arguments are heard from Republicans.

"The president has asked us to increase the debt limit, in other words to increase the limit on the credit card, without doing anything about the source of the problem. And we've got to deal with the source of the problem," Boehner said Monday on Fox News Channel.

Carney didn't disavow Obama's comments from 2006. But he said the president understands now that "when you're in the legislature, when you're in the Senate, you want to make clear your position if you don't agree with the policies of the administration. But there are many other ways to do it."

Comments

[Stewart Wagner]

09:25 AM on 04/13/2011

WASHINGTON – The White House said Monday that President Barack Obama regrets his vote as a senator in 2006 against raising the debt limit.

The president has opened the door to vote regretting.
The time has come when it is acceptable to regret votes. Thank you President Obama.

Let those step forward who suffer from Obama Voting Remorse (OVR) follow Presadent Obama’s lead. Total amnesty declared. Admit to yourself and be relieved of your burden.

Express your OVR and no one will say “I told you so” we welcome you, we need you

[Robert Gosney]

12:20 AM on 04/13/2011

He regrets one of the only things he's ever done right.

[WhereSheStops]

03:49 PM on 04/12/2011

Little by little Obama becomes more and more like his predecessors. Essentially admitting that they were right and he didn't know squat when he was elected by a majority who also didn't know squat and were blinded by celebrity and the historicity of the moment.

He has to admit to being ignorant in the past, or else he would have to admit to poor leadership now. Of course, some of us would say both are possible. Ignorance then. Poor leadership now.

[Markrsm]

03:51 PM on 04/12/2011

Dear Where,

Both parties are owned by the same lobbyist, Mr Obama knows it is very profitable to make statements and take it back, as it generates much more money than supporting it up front.

[WhereSheStops]

04:12 PM on 04/12/2011

If I weren't already a fan, I'd have to fan you for that priceless assessment.

[seanj]

01:46 PM on 04/12/2011

Mt tele-prompter was against it before it was for it.

[frankiebarbella]

01:14 PM on 04/12/2011

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. ... 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."

President Obama was correct in 2006 and the is no reason why the USA would default on our debt if the debt ceiling was not raised. They (congress and the president) would have to make painful decisions if the ceiling was not raised and that is what they do not want to do. We take in more than enough in tax revenue to service our debt and provide services to the American people.

[RoofinReality]

10:50 PM on 04/14/2011

That last sentence is only true if all the taxes were really collected AND if we weren't spending the money on things we can't afford - tax cuts for millionaires, wars in the middle east and on and on.

[frankiebarbella]

08:49 AM on 04/15/2011

I am all for removing our military footprint aboard. We should not be the world's security guard.

[Esot3ric]

12:43 PM on 04/12/2011

Obama admitted to a regret. What's the big deal, all of you GOP trolls? This is what grown-ups do.

[LDM123]

12:49 PM on 04/12/2011

No, he stuck it to George Bush because of party politics and not what was in the best interest of the nation, and now he is asking the Republicans not to do the same thing to him.

[mike dougles]

12:58 PM on 04/12/2011

No he know what he was doing in 06 he was playing politics plan and simple.

Now that he is in the oval office he doesn't like people playing politics.

[bilon]

12:37 PM on 04/12/2011

he just doesn't have a clue

[mike dougles]

12:58 PM on 04/12/2011

To true.

[tulane-grad]

11:59 AM on 04/12/2011

It takes a big-man to admit he played party politics at the expense of the countries economic health.

[mike dougles]

12:59 PM on 04/12/2011

Hey it was ok back then because Bush was going to get blamed for it.
NOw however he might get blamed so its not right.

[WhereSheStops]

03:51 PM on 04/12/2011

lol

[idisVA]

11:52 AM on 04/12/2011

GOP Rep. Frank Lucas Says We Must Raise The Debt Ceiling: ‘I Won’t Throw The Country Into The Street’

[kingpin2011]

11:14 AM on 04/12/2011

Okay, Obama made a mistake. what would you call the Republicans in office?

[mikefina]

01:41 PM on 04/12/2011

Incumbents.

[kingpin2011]

03:46 PM on 04/12/2011

Wrong. A disaster to mankind will fit.

[TeaLady005]

10:29 AM on 04/12/2011

Eight years under Bush,,with the 9-11 attack,, with the Iraq and Afghanistan wars, with the bailout, and with the so called Bush tax cuts for the wealthy,,,,$4.37 trillion was added  to our national debt. ---
 
Under 4 years of Obama the debt will jump from $10.2 trillion to over $16 trillion by the time the 2012 election arrives,,a $6 trillion increase!
 
-- The national debt rose $54 billion in the eight days prior to the "historic" $38 billion cut! When will we stop re-electing the same people who created this financial mess?

[RoofinReality]

10:39 AM on 04/12/2011

To your last point, WHY did the national debt increase $54 Billion in 8 days?
The answer to that question might have something to do with why it's increasing faster than it was under Bush, when he and the Repubs were charging the heck out of the nations credit card for...?

[mike dougles]

01:00 PM on 04/12/2011

You do understand that he is talking about last month, and all that spending was approved under a dem congress and white house.

[pb31]

01:02 PM on 04/12/2011

So you think that the Bush tax cuts, his two wars on the credit card and his unpaid-for prescription drug plan suddenly stopped costing the economy immediately upon Obama's taking office? They, plus the effects of the 2007-09 recession, are the major contributors to the deficit, according to a graph in yesterday's NY Times.

On January 7, 2009, two weeks before Obama stepped into the Oval Office, the CBO estimated that the 2009 fiscal year deficit under the Bush budget would be $1.3 trillion. (Remember, almost four months of the 2009 fiscal year occurred while Bush was President, since the 2009 fiscal year started on Sept. 1, 2008.) Multiply that by four, and you have a $5.2 trillion addition to the deficit even if there had been no further economic decline. Given that the GDP, and hence public revenues, was shrinking rapidly when Bush left office, the addition to the debt if Bush policies had continued for four years would have probably been well over $6 trillion.

[one tequila two tequila]

09:39 AM on 04/12/2011

Unquestionably, there is progress. The average American now pays out twice as much in taxes as he formerly got in wages.
H. L. Mencken

[RoofinReality]

10:42 AM on 04/12/2011

I'm going to reserve comment until you can show a credible 3rd party source which gives this info.
In the interim, I'm going to remember that 1/3 of the stimulus of 2009 was tax cuts.
AND, under Obama, taxes are lower than at any other time in history.
Which (hint) could be the reason of why there's a huge debt.

[one tequila two tequila]

10:49 AM on 04/12/2011

The statement was made by H. L. Mencken, a newspaper man who passed in 1956
check him out on google

[frankiebarbella]

01:30 PM on 04/12/2011

Um, taxes are not lower at any other time in history as we did not have income taxes until the 16th amendment to the constitution, which was enacted in 1913.

[Ravenlea]

12:18 PM on 04/12/2011

You can't pay more in taxes than you used to get in wages unless your wages have increased.

[one tequila two tequila]

09:32 AM on 04/12/2011

the reason was simple, he was talking to his friend Tony Rezko, Tony might buy him a house in Chicago, after all the indictments are finished.
Another of alabams stand up friends, who could forget his golf buddy from Hawaii

[Eve PurvisAllen]

09:16 AM on 04/12/2011

Is it me or are the Beckheads starting to show up here?....I am seeing more idiotic comments than usual.

[Harrier083]

09:23 AM on 04/12/2011

Afraid of a little diversity? You may possibly learn something from some of the posts from the right. And you may adopt some of the cons arguments - just like the current admin. See unnecessary war for oil, lack of transparency, tax breaks for rich, cuts to domesitc programs, votes for raising debt ceiling, lobbyists in WH, cash from millionaires, etc.

As I recently posted, the parties are the same. Supporters may not understand, but pols sure do. And pols play the role to the hilt to keep their campaign coffers full.

[ChasG]

09:32 AM on 04/12/2011

Anyone who thinks Dems and GOP/TP are the same is cognitively impaired, and/or just isn't paying attention to state politics, moreover what is happening in the House of Representatives.  This is a convenient strategy for the right to try to discourage the left from going to the polls and voting D, because low turnout tends to favor GOP.
 
When Dems wake up to the fact that the notion there is no difference between the two political parties is a GOP talking point, Dems will return to the polls and vote the GOP out of office.  Wisconsin, Ohio, etc., are demonstrating the vast differences between the two parties.

[BrianBrady]

10:38 AM on 04/12/2011

Neo-conservatives favor policing the world & making war to "spread democracy", big government solutions to education, retirement planning & health care, using our taxpayer dollars to eradicate AIDS in Africa, than begging the UN to match our "investment", co-opting churches to administer government largesse, and bailing out failed businesses.

But the Progressive Left....oh wait....

Never mind.

[one tequila two tequila]

09:35 AM on 04/12/2011

what are beckheads? more idiotic comments than usual? alabama leadership does that to them
whatever them is? or are

[RoofinReality]

10:43 AM on 04/12/2011

Who's from Alabama? Sessions?

[ruthtruth]

08:19 AM on 04/12/2011

" A wise man will change his mind but a damn fool never will " is some thing my father taught me and it takes a strong, decent person to admit to his mistakes. I wish the some of the members of the right were as decent.

[ChasG]

08:39 AM on 04/12/2011

Fanned

[Harrier083]

09:16 AM on 04/12/2011

Both parties play the same game. I was for it before I was against it should be branded on all politicians once the majority/minority position changes.

Pols routinely say anything to be elected and run from their pledges once elected. Libs and Cons are the same. And the current admin policies prove this point as well as any could.

[ChasG]

04:24 PM on 04/14/2011

You mistake "running from campaign pledges" with "compromising to accomplish as much of the campaign pledges as possible."  Of the 173 Obama promises that were kept in some form, only 41 had to be compromised.
 
http://www.politifact.com/truth-o-meter/promises/