Since Obama thinks increasing debt ceiling weakens the US, why is he pushing for it?

Well, I guess it would be to pay off the bills from the previous administration that were run up.

See, the way credit works is that someone extends you the credit (cash) to buy something, then they send you the bill after the agreed amount of time. So the bills THIS administration is paying for are the bills run up from the PREVIOUS administration - like Iraq, Afghanistan, bail-outs (Bush's baby), and so on. We won't hit paying Obama's bills until around 2012.

So you see, the argument that Obama just wants to spend more money is absolutely crazy! Republicans have already spent us into this mess. We have to be able to pay some of the bills so that the nation can continue to operate since no one wants to pay more into the mix so that we have more revenue coming in so that we use less on credit. . .

I find that to be the funniest thing. No one wants to pay in, but everyone wants it fixed without using credit. Won't happen. You don't raise your standard of living and buy a larger house and a more expensive car after taking a huge pay cut, do you? No? Well, the government can't pay off debt when it keeps giving tax breaks. GW gave a huge tax break during his administration, reducing the nation's revenue, and then took the nation to war. Hmmm. . . reduce the amount of money coming in, and then spending more money. . . Isn't that what the conservatives on here have accused those in foreclosure and victims of the housing crisis and those on welfare of doing?? Hypocrisy at its finest.

We need to throw the party s**t out the window! No more of this "I believe this and I am right" thing! We need to crack down, do what is best for the nation and its future, and then do it WITHOUT sitting and blaming for things. That is absolutely unproductive.

Didn't he make that quote a long time ago when McCain was saying the economy was fundamentally sound and the recession had not begun yet?

You seem to blame him for having a different opinion now, but the truth is that anyone who does the same thing in totally different circumstances is a fool. In case you haven't noticed things are quite different in the economy than they wer in 2006. Only a fool would not recognize this and pretend that the same medicine can solve every disease.

In 2006 it would have been better to come up wiht other ways to solve the deficit problem. Today with millions out of work and the economy on shaky ground austerity measures would be economic suicide.

Obama doesn't think raising the debt ceiling weakens the US. Debt weakens the US, and raising the debt ceiling is something you only have to do when you have increasing debt. Indeed, we are raising our debt ceiling because of a failure in leadership that included invading Iraq, lowering taxes too much, a mortgage/banking crisis requiring massive bailouts, and the loss of jobs to cheap overseas labor. But those failures in some cases have been decades in the making.

It's like if your house is on fire. You do what you need to do (raise the debt ceiling) so that things go somewhat ok for you, and then you take steps to maybe leave fewer matches and soaked rags around next time. Is *having* to raise the debt ceiling bad for the US? Absolutely, but that doesn't by any means mean that it doesn't have to be done.

Deciding to go to less fancy restaurants is an excellent idea if your household budget is tight, but that doesn't mean you don't have to pay the check that the server just dropped off at your table after a fancy meal. You still need to pay it now, and make changes to what you order and where you go in the future.

No, he does not. Obama discovered from the final debt ceiling debates, and has desperate to set forth a notion that would desire him the main. interior the approach, he's offering extra area for Republicans to alter that notion and make for a debate that fairly produces real and significant bipartisan talks.

Because he also understands to not do it and to default on our debts could destroy our economy forever.

He has to.

He was right then, and it's right today...but you MUST pay the bills you rang up.

If we want to cut spending, do it BEFORE you spend the money.

Not complain when you get the bill.

If it had been wasteful spending, you'd have a point.

But the spending has been on Economic recovery and stablilzation, saving GM, etc.

Not on "here, deduct your yaht as an expense"!

Well the more I owe on my credit card the weaker my score is but I still use it.

Your grandchildren have been straddle by debt, courtesy of the Republican Congresses 1995-2006. and you can't change the facts.

he wants to be able to keep on borrowing to pay the past loans so the country has a reasonable credit rating, to keep on borrowing