Posted on 05/23/2009 9:49:17 AM PDT by SeekAndFind
I wish he would have realized that about $11 trillion ago.
In a Memorial Day weekend interview with CNN's Steve Scully, the president of the United States told the people of America that their government was flat broke:
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SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?
OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we've made on health care so far. This is a consequence of the crisis that we've seen and in fact our failure to make some good decisions on health care over the last several decades.
So we've got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it's putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.
So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don't reduce long-term health care inflation substantially, we can't get control of the deficit.
So, one option is just to do nothing. We say, well, it's too expensive for us to make some short-term investments in health care. We can't afford it. We've got this big deficit. Let's just keep the health care system that we've got now. (HT: Drudge )
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Scully does a good job of boring in on Obama's evasions so the interview is well worth the read.
This is a man who hasn't a clue. Yes, we are in a recession and a financial crisis. So your scare tactics that ratcheted up fear in order to get your stim bill, omnibus spending, and FY 2009 budget passed - a total of more than $5 trillion with interest added - are backfiring and you think you can work your way out of it by spending a trillion more on a health insurance boondoggle?
What planet is this guy from?
Imagine how Democrats and the media would have howled if Bush had made this pronouncement ... Obama says it and not a whimper.
you know what? the people who voted for Oblubbo get what they deserve.this man has never been held accountable for anything in his personal life only of “showing up” and maybe at that by voting “present” in the past. He certainly wasn’t managing his personal finances very well either along with his wife all these years as they had lived on credit.
Finally! Now when do the entitlement cuts start?
I’m feeling taxed already with an inflationary front coming on. Obama is of the set that thinks we are all human ATM’s in need of taxing withdrawals. It’s going to get interesting and nothing is ever his fault, dontcha know? Or are you a racist?
None of the economic crisis is related to health care...that's just laying groundwork for more spending. Obama sure is milking every ounce of whine, pity, excuse and cover for more spending out of his "inherited" patter. Seems to me that he CHOOSE to run for president...he didn't inherit squat. And furthermore, Obama and the democrats controlled congress and the senate for the last 2 years and therefore controlled the nations purse strings. So if Obama did inherit something he inherited it from himself. Is that even possible?
Now you tell us...
How’s that Auto business and Bank business doing? I see that taking over energy is looking good for dear leader.
We were out of money when this blithering idiot started spending trillions we don’t have. He can’t borrow real money, and he can’t print enough inflated money. All he can do is collect imaginary IOUs from future generations, with no guarantee that they will ever be able to pay up. His failed presidency is going to be the worst man made disaster this nation has ever experienced.
Well when did this brilliant deduction occur to him? Before or after the 800 billion stimulus package or the 3.8 billion dollar FY 2010 budget (or what ever it is)? Do people report this stuff with a straight face?
Yes we are out of money, but it wasnt anything “The One” had to do with, although he was for the Bush Bailout and has spent trillions while in office for his first hundred days. It wasnt anything HE, The Messiah” had to do with. It’s all that evil Bush.
Because He HAD to bail out the banks and the auto companies , whop would probably be well on the way to recovery if he had left them alone.
Yes the people who voted for him deserve this , but damnit i didnt vote for him and I am getting the screws too, and to make matter worse, it hasnt even started with the pain yet. Wait for the Cap and trade and the National Insurance bills to come due, then the inflation from the trillion he just printed and the paybacks on the loans he has made.
My Granddaughter is 7 years old and knows more about economics than Obama does.
How in the hell can this lying weasel get away with saying this crapola?
Are the lame stream media so blinded by their ideology they cannot hear stupidity?
The short temr financial mess they had to ‘rescue’ was CAUSED by democraps, not by Bush.
The so called ‘resuce’ allotted 1.4 trillion dollars most of which is not even spent until next year JUST BEFORE ELECTIONS...
Hell in a handbasket cannot describe what this ass wipe is doing
Where did he get his financial education ... the Homer Simpson School of Finance ???
Dohhh !!!
Harmatard...
“We are operating in deep deficits, not caused by any decisions we’ve made on health care so far. This is a consequence of the crisis that we’ve seen and in fact our failure to make some good decisions on health care over the last several decades.”
Whoa, wait a minute. Is he saying that if we had implemented gov’t-run health care decades ago we wouldn’t have deficits now? How is spending trillions MORE dollars on gov’t health care going to save money?
“the long-term problem is Medicaid and Medicare. If we don’t reduce long-term health care inflation substantially, we can’t get control of the deficit.”
WTF does that even mean? Now he’s just babbling non sequiturs hoping no one calls him on it (which the press will not).
Obama: “We are operating in deep deficits, not caused by any decisions we’ve made on health care so far.”
Oh REALLY? You mean the 634 BILLION dollar “downpayment” on healthcare you spent doesn’t count towards the national debt?
This guy is a BALD FACE LIAR.
He is was and always will be nothing more than a shuckin’ jivin’ low life pimp. A con man who the idiot masses loved because they were going to get something for nothing or so they thought.
He is a discredit to his race, both of them.
Moron ping.
I’ve been snuckered ping.
Barry had a reality check moment ping.
Liberal spending ftw ping.
Destruction of Capitalism and America ping.
Stuck on Stupid ping.
Did I miss one? =.=
The idiot is just realizing this?
“We are operating in deep deficits, not caused by any decisions we’ve made on health care so far.”
Dirty Harry:
This gun I'm gonna shoot you with has not killed anyone -- so far..
LOL
Obama continues to market fear tactics so that his radical agenda can be pushed through quickly.
The only ones who benefit from his fear tactics are himself and and those at the top.
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