As his administration readies to lobby members of Congress on the issue, President Obama now says he regrets his past vote in the Senate against raising the nation's debt limit.
Speaking with ABC's George Stephanopoulos Thursday, Obama called his 2006 decision "a political vote."
"I think that it's important to understand the vantage point of a Senator versus the vantage point of a president," he said. "When you’re a senator, traditionally what's happened is this is always a lousy vote. Nobody likes to be tagged as having increased the debt limit for the United States by a trillion dollars. As President, you start realizing, 'You know what? We can't play around with this stuff."
"So that was just a example of a new Senator, you know, making what is a political vote as opposed to doing what was important for the country. And I'm the first one to acknowledge it," he said.
Obama also conceded that when the current Senate is faced with the same decision, some members may make the same calculation he did.