Senator Harry Reid in 2006: "Increasing Debt is the Last Thing We Should Be Doing"
Kyle Becker | On 13, Jan 2013
The footage above is Senator Harry Reid railing against the debt ceiling, from a Daily Caller video posted in 2011. We’ll just let current Senate Majority Leader Harry Reid argue with Senator Harry Reid in 2006 about why “increasing debt is the last thing we should be doing”:
“If my Republican friends believe that increasing our debt by almost $800 billion today and more than $3 trillion over the last five years is the right thing to do, they should be upfront about it. They should explain why they think more debt is good for the economy.
It’s important to note here that Senator Reid is arguing against the Republican Party about raising the debt ceiling, showing that hypocrisy can cut both ways. Both parties have been irresponsible spenders, particularly over the last decade.
How can the Republican majority in this Congress explain to their constituents that trillions of dollars in new debt is good for our economy? How can they explain that they think it’s fair to force our children, our grandchildren, our great grandchildren to finance this debt through higher taxes. That’s what it will have to be. Why is it right to increase our nation’s dependence on foreign creditors?
Senator Reid then made the ultimately correct point that increasing debt weakens the country.
They should explain this. Maybe they can convince the public they’re right. I doubt it. Because most Americans know that increasing debt is the last thing we should be doing. After all, I repeat, the Baby Boomers are about to retire. Under the circumstances, any credible economist would tell you we should be reducing debt, not increasing it. Democrats won’t be making argument to supper this legalization, which will weaken our country. Weaken our county.”
Although the Republican Party has been reckless about government spending in the past, the Democrat Party took over the Congress in 2006 and never looked back about spending our “children, grandchildren, and great grandchildren’s” futures. During the Obama presidency, the United States racked up $5 trillion in debt; and by the end of this year, the U.S. will double the $3 trillion in debt that Reid decried just a Senate term ago.
As Democrat leaders howl about Republican irresponsibility in the debt ceiling debate, since the GOP is threatening to force a shutdown of non-essential government services in order to reign in unchecked spending, Americans should bear in mind the wise words of Harry Reid. They show that the Democrat Party leadership understands how reckless it would be to raise the debt ceiling without cutting spending, but it is acting irresponsibly anyway.
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