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→Debt Ceiling 2011 Controversy: cleanup
The last increase in the debt ceiling occurred in early 2010 and President Obama signed into law on February 12, 2010. The limit stood at $14,294 billion. With large deficits emerging as [[baby boom]]ers retire, some members of Congress expressed concern over the government's dependence on borrowing to meet its obligations. President Obama responded by creating the National Commission on Fiscal Responsibility and Reform (Simpson-Bowles Deficit Reduction Commission), charged with identifying “policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run.”<ref>Congressional Research Service, pp. 24-25 pdf.</ref> President Obama promptly ignored the Commission's recommendations.<ref>http://www.realclearpolitics.com/2011/06/23/cbo_quotwe_don039t_estimate_speechesquot_258038.html</ref>
The last increase in the debt ceiling occurred in early 2010 and President Obama signed into law on February 12, 2010. The limit stood at $14,294 billion. With large deficits emerging as [[baby boom]]ers retire, some members of Congress expressed concern over the government's dependence on borrowing to meet its obligations. President Obama responded by creating the National Commission on Fiscal Responsibility and Reform (Simpson-Bowles Deficit Reduction Commission), charged with identifying “policies to improve the fiscal situation in the medium term and to achieve fiscal sustainability over the long run.”<ref>Congressional Research Service, pp. 24-25 pdf.</ref> President Obama promptly ignored the Commission's recommendations.<ref>http://www.realclearpolitics.com/2011/06/23/cbo_quotwe_don039t_estimate_speechesquot_258038.html</ref>
Obama's failure to take personal responsibility and instead his resorting to blaming others is a typical liberal victimhood mindset and pervades the inner city culture greatly.
Obama's failure to take personal responsibility and instead his resorting to blaming others is a typical liberal victimhood mindset.
The prospect of the Obama administration defaulting on its debt rose greatly when the Democrats insisted on raising taxes to cover for their irresponsible spending habits. Obama refuses to engage in negotiations, similar to a deadbeat who refuses to answer the phone when the creditors are calling. Unfortunately, for the world, Obama's personal irresponsibility will hurt many honest hard working people who have done nothing wrong.
The prospect of the Obama administration defaulting on its debt rose greatly when the Democrats insisted on raising taxes to cover for their irresponsible spending habits. Obama refuses to engage in negotiations, similar to a deadbeat who refuses to answer the phone when the creditors are calling. Unfortunately, for the world, Obama's personal irresponsibility will hurt many honest hard working people who have done nothing wrong.