LINK: Obama: Congress must and will raise debt limit - Yahoo! NewsCHICAGO President Barack Obama confidently predicted Friday that a divided Congress would raise the nation's borrowing limit to cover the staggering federal debt rather than risk triggering a worldwide recession, but he conceded for the first time he would have to offer more spending cuts to Republicans to get a deal.
Pushed to the brink, Obama said, the two parties would find "a smart compromise."
This is almost comical considering his vote against raising the debt limit in 2006.
What has changed since then? If the debt limit hadnt been raised in 2006 would the ramifications be any different than today? Why didnt we hear the gloom and doom predictions of a global economic meltdown in 2006 that we hear today?
In 2006 there wasn't a single democrat who voted for raising the debt limit, unless you count Arlen Spector as a democrat. GovTrack: Senate Vote On Passage: H. J. Res. 47 [109th]: Debt Limit Increase resolution Today they are all preaching to us about how irresponsible it would be to vote against a debt limit increase.
I dont get it. Can one of you democrats fill me in on the logic here?