Sen. Barack Obama on the Senate floor in 2006:

"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 the government's reckless fiscal policies."

President Barack Obama, after running up the national debt by more than $3 trillion in just two years to a record $14 trillion, now wants Congress to raise the debt ceiling limit ... so he can keep spending money we don't have.

And has anyone in the mainstream media pointed out Obama's hypocrisy? Nope. They're too busy trying to blame Sarah Palin for something ... anything.