Skip to comments.President Assures Letterman that National Debt Isnít Important
Posted on 09/23/2012 10:16:47 AM PDT by John Semmens
Unable to answer a simple question regarding the size of the national debt during an interview on David Lettermans talk show, President Obama tried to assure viewers that it isnt important.
I cant put my finger on the precise amount, Obama said. How about a ballpark estimate? Letterman asked.
Well, I dont know, but it doesnt really matter, the President replied. You see, mostly this is money we owe ourselves. I mean, Americans owe the debt and Americans own the debt. In effect, paying the debt is like taking money out of your right pocket and putting it into your left pocket. Its a wash transaction. We could eliminate most of the debt by simply canceling this shuffle.
In related news, the United States fell to 18th place in the annual Economic Freedom of the World report. Chairman of the Presidents Council of Economic Advisers Alan Krueger dismissed the reports importance saying it is overly reliant on outmoded ideas that put individual rights ahead of the collective benefits.
if you missed any of this week's other semi-news posts you can find them at...
I am not owed any of this debt. And I do not believe that I owe any of it. This debt will affect me but I bear no responsibility for it.
Default, I say.
If the government borrows money to pay daily bills, then there's a little thing called interest which enters the picture. Now we have lenders "skimming off the top" for no real benefit. So Obama's analogy fails.
The next time I go to Wal-Mart I’m going to take money out of my right pocket and put it in my left pocket and then take it out of my left pocket and put it back in my right pocket.
It kinda’ sounds like the old shell scam to me.
“....paying the debt is like taking money out of your right pocket and putting it into your left pocket.”
NO! Paying the debt, if anything is ever paid on it before foreclosure comes down upon us, will be EXACTLY like US taking money out of OUR right pocket and putting it in the Ching-Changs’ left pocket. We DON’T owe it to ourselves; we owe it to the Red Chinese!
I never ever WAS in awe of that skinny illegal alien’s mental prowess. But it turns out that, aside from his cunning and deceiptfulness, which enables him to keep so many doofuses snowed under, he’s really dumber than a box of rocks in PRACTICAL terms.
And if you think THAT’S amazing, just think of the mental capacity of the mainline media suckers who swoon at his every word, get tinglings up their legs, and overlook his stupidity?
Think about how much ‘property’ in land with resources the federal hydra calims to ‘own’. Now think of how easily they can just sign the land and resources over to the US debt holders. THEREIN is the reality of the democrat plan for ‘Amerika’. Sadly, the normalcy bias of most folks prevents them from seeing the obvious.
Say what? How do you cancel a debt without paying it off? This is a great idea. I just call the credit card company and say, “I'm canceling this debt. Thanks for loaning it to me. Good bye.”
Americans bought government bonds with an interest rate of “x”. Americans get a form letter that says, “We are canceling this debt. Thanks for loaning it to yourself. Have a good day,”
Hussein's brain can't think and come to rational conclusions.
That was Obama on Letterman’s show? I was flipping through the channels and saw it and thought it was stupid pet tricks night and they had two jackasses on.
Obama knows better but he also knows he cannot tell the country what he really thinks because it would kill any chance he has of being re-elected.
I saw the replay of it and couldn’t believe he said most of the debt was loaned to ourselves and it wasn’t important right now what the debt was. That debt is owed to Americans and many foreign countries that bought our bonds. China owns a large chunk of it and keeps buying it. If they stop buying, the US can’t pay their bills.
If you have to borrow every month to pay your monthly bills, and keep doing that and can’t pay anything on that debt, the lender stops lending you money, and you crash into bankruptcy. That is where our country is, we’re bankrupt but at the moment can keep borrowing every month. If China cashed in those bonds, we couldn’t pay them. That’s default and the country dies.
I'm cooling off now, lol
I know John does satire, but this interview with Letterman happened and I saw it. Husssein did say he didn't know what the debt exactly was when elected president and he did say most of the debt we owe to ourselves and he did say it doesn’t matter what the debt is right now.
I'm sure you can find the interview on Utube or somewhere.
What saddens Americans is that Obama has enablers who swallow Obama's nonsense as though the nonsense was a solution.
This one isn’t sarcasm.....