Obama Flip Flops On Increasing Debt Ceiling

In 2004 the US federal debt ceiling was 7.384 billion dollars. There have been six debt limit increases in 5 years and has now brought the US federal debt ceiling to 14.29 trillion dollars as of May.

Just to give one a perspective on just how runaway the federal debt problem is - from the time congress started haggling over increasing the debt ceiling - the federal debt has almost increased another trillion.

So who is to blame - republicans, democrats, independents? What I really find hard to stomach is that when Obama was in office as a Senator he voted not to increase the debt ceiling. Check out how he voted for yourself - don't take my word on it:
http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=109&session=2&vote=00054

According to the MSM reports - it appears that the virtually every conceivable organization says that it would be catastrophic if the US doesn't raise the debt ceiling.

I say don't raise the debt ceiling. I am sure the stock market might have a major correction for a few days - but eventually it will go up. Why do I know this - well just think about if for a moment. If Congress decides not to raise the debt ceiling - then just maybe all of that corporate money that has been parked on the sidelines for so long will start to gain some confidence again in the free enterprise system - and then maybe they'll start to invest in America again.

After all - with all of the stimulus money that has already been infused into the economy and only had negligible effects - actually the effects were negative as unemployment went up - 9.2%. During the stimulus funding the US government took over GM, Chrysler, Fannie Mae, Freddy Mac, golden parachutes for Golden Sachs executives - I'm sure our astute readers can now begin to connect the dots.

And remember another thing - that since the collapse of Fannie Mae and Freddie Mack - the US federal government has also become the biggest land holder of all time - and slum lord to.

So I say let the hammer come down where it may - and I plead for Congress not to raise the debt ceiling. If I'm right then let it be said in the annals of history that Beezer made the greatest prediction of all time - greater than US Treasury Secretary Tim Geithner . . . greater than IMF President Strauss-Kahn.