Just for the record: President Obama on Thursday:

[Without an increase in the borrowing limit] "the whole world will have problems, which is why, generally, nobody's ever thought to actually threaten not to pay our bills."

Senator Obama, 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 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.

(HT: James Taranto)

More here, chapter and verse. Might be worth the media mentioning when the President and other Democrats decry the irresponsibility of discussing budget cuts in exchange for a debt ceiling increase.