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?
Too bad that doesn't mean government is done spending more of what they don't have.
Obama sounds like the crazy, non working wife who maxed out all the credit cards ,
cashed in every retirement account ,
cleaned out the checking and savings accounts,
emptied the petty cash jar,
pawned the family jewels and stole from hard working relatives to finance her wild spending sprees .
And when it dawns on her that they are now broke-whines and whines that somebody else spent all their money.
And then decides that the reason they have run out of money is because hubby didn’t spend enough on health care !!
Was Barry back on the pipe when he gave this interview ?
So, we have a short-term problem and we also have a long-term problem. The short-term problem is that I’m in office. The long-term problem will be repairing all of the damage I’ve done once I’m out of office.
Another way to use a crisis to get what you want.
Why doesn’t he divert money from ACORN and use it for healthcare? Or how about not bailing out the unions and letting GM and Chrysler go through normal bankruptcies?
Of course, this would go against his “ideals” of what’s “fair”.
Is the reporter the same Steve Scully that used to be on C-SPAN?
So, instead of confining the problem to failed Medicare and Medicaid policies, he advocates putting everyone in the nation into plans exactly like the failed ones. Makes sense to me.
What planet is Obama from? The planet Socialistspendabundle.
The proponents for decriminalization believe that the new tax revenues produced would help support schools, healthcare, and the impoverished, ease the pain of taxpayers, and reduce the deficit. They also believe that transgressions such as these will take place no matter, but, if properly regulated, would be safer for society in general. It would be a win, win situation.
"Unfortunately, when it comes to lowering taxes and helping the downtrodden, the best-laid government plans seem to fall short of expectations. However, there is one vice, one small illegal indiscretion, that, if decriminalized would solve all our problems. The United States needs to legalize the victimless crime known as counterfeiting. Once legalized, counterfeiting would be for everyone. This could be accomplished by making Federal Reserve Note paper (complete with silk threads, watermarks, etc.) available to the public. With the correct paper, most computers with the right software would have no trouble replicating U.S. currency.
"If a household did not have a computer, special over-the-counter counterfeit kits could be made available, with instructions in both English and Spanish. Once in place, universal counterfeiting would prove to be the ultimate stimulus package for the economy. Employees would always have enough money and never have to go on strike. Citizens would have no trouble paying their mortgages and never face foreclosure. Everyone would gladly pay his or her taxes and there would be no need to have an IRS. Free market consumerism would return with a flourish. People would purchase whatever they wanted and stores would only have to worry about having enough merchandise on hand. Stores could charge the consumer whatever they wanted and the consumer could still afford.
"Every shopping day would be like the day after Thanksgiving and the day before Christmas. Once legalized, counterfeiting would still have to be regulated. Parity and fairness would dictate that families earning over $250,000 would only be allowed to print $1, $2, $5 and $10 denominations. Families with combined incomes of less than $250,000 could print $20 and $50 bills. The unemployed could print $100 bills, and ACORN workers and UAW members would be entitled to counterfeit a new denomination, something even larger than the $100 bill (with President Obama on the front). Universal counterfeiting could be the entitlement program that ends all other entitlement programs and sets us free. It is time to stand up and tell our legislators we want universal counterfeiting. If they protest, 'You cannot just print money,' then promptly respond in kind, 'Why not? It works for you.'"
Too bad Harry Warren and Al Dubin are dead.They could pen the perfect theme song for 0s term: “We’re Out Of Money”.
So, the obvious answer is to spend it even faster?
Palin 2012 ping.
Your insightful post says it all! Thank you and Amen!
g in az
One thing he won’t be able to blame on the last administration is the drop from AAA status for U.S. Treasuries on his watch. That’s when prices for everything rise and your money starts to become worthless.
The federal government has been distorting the health care sector of the economy since Medicare and Medicaid were established in the Sixties and this community organizer says ‘it is nothing we’ve done’. The only reason he can make this statement is because of the damage he and his kind have done to education and the culture during the same period.
Shelley: “Honey, we’re broke , I can’t pay the doctor bill.
zerO:” Let’s pick up the medical bills for the entire town. By making healthcare more affordable we can balance our budget”
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