“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 US
Government can not 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.”
– Senator Barack H. Obama, March 2006