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.



Barack Hussein Obama on the Debt Limit, 16 March 2006