'Way back' in 2006 Obama said; "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 U.S. Government can't 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.
Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is "trillion" with a "T." That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President's budget will increase the debt by almost another $3.5 trillion." (http://gatewaypundit.blogspot.com/2009/09/barack-obama-raising-americas-debt.html). It is funny what two years can do to your beliefs. It is rather sad to reminisce about the 'good old days' when our government was 'only' running a deficit at a rate of 3.5 trillion every five years. Obama's policies now require the legislator to once again raise America's debt limit (http://thehill.com/homenews/senate/57493-senate-must-raise-debt-ceiling-above-12t).