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Obama: Raise debt ceiling or risk global recession
Yahoo ^ | 4/15/11 | Ben Feller - AP

Posted on 04/15/2011 11:07:33 AM PDT by NormsRevenge

CHICAGO (AP) -- Failure by Congress to raise the U.S. debt limit "could plunge the world economy back into recession," President Barack Obama declared Friday, and he acknowledged that he must compromise on spending with Republicans who control the House to avoid such a crisis.

"I think he's absolutely right that it's not going to happen without some spending cuts," the president told The Associated Press in an interview in his hometown, agreeing with House Speaker John Boehner's assessment.

Obama urged swift action, saying he doesn't want the United States to get close to a deadline that would destabilize financial markets. He said he was confident Congress ultimately would raise the limit.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Foreign Affairs; Government; Politics/Elections
KEYWORDS: debtceiling; globalrecession; obama; risk
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I doubt his brother in Kenya would notice much difference.
1 posted on 04/15/2011 11:07:38 AM PDT by NormsRevenge
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Fear
Doom
Chaos

How to organize a community on a cheap budget.


2 posted on 04/15/2011 11:08:51 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NormsRevenge

Let the fear mongering begin...


3 posted on 04/15/2011 11:08:56 AM PDT by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: NormsRevenge

So if we raise the debt ceiling and get another global recession anyway, then what?


4 posted on 04/15/2011 11:09:59 AM PDT by ConjunctionJunction
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To: NormsRevenge

Vote “no” just like he did when he was a smug senator.


5 posted on 04/15/2011 11:10:12 AM PDT by onyx (If you truly support Sarah Palin and want to be on her busy ping list, let me know!)
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Voters, holding a sign referring to the U.S. national debt, wait for the start of the Tax Payer Tea Party Rally in Concord, New Hampshire April 15, 2011. REUTERS/Brian Snyder


6 posted on 04/15/2011 11:10:16 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NormsRevenge

So, what does Barry know about economics that would give him credentials to speak authoritatively on this issue? I think absolutely nothing.


7 posted on 04/15/2011 11:10:16 AM PDT by 556x45
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To: NormsRevenge
‘The sky is falling’ administration. Same old, same old rhetoric. We heard this during the stimulus, tarp, and health-care. This administration is so pessimistic. Bring back President Reagan!
8 posted on 04/15/2011 11:10:36 AM PDT by rawhide
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To: NormsRevenge

So everything this bunch wants is a disaster if it doesn’t get passed?


9 posted on 04/15/2011 11:10:54 AM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11)
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To: NormsRevenge
Obama the spokesman for the unholy trinity of hate, lies and death. America must cast off this ghoul.
10 posted on 04/15/2011 11:11:07 AM PDT by Armaggedon
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To: NormsRevenge

Always the fear-mongering with these people. Do exactly what I demand, or else the worst-case scenario will occur.

Obozo didn’t seem to have any problems voting against it when he was Senator.


11 posted on 04/15/2011 11:11:39 AM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: DonaldC
Let the fear mongering begin...

And coming from a guy who had made CRYSTAL clear that he knows absolutely nothing about micro- or macro-economics. In fact, any statement he makes about cause/effect, supply/demand, etc. is likely to be 180 degrees from reality. It's all about grabbing pieces of the pie - he has ZERO interest in growing the pie.
12 posted on 04/15/2011 11:11:47 AM PDT by rockvillem
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To: onyx
who they gonna sell the debt too?

A Chinese bank worker checks a US 100-dollar bill together with stacks of 100-yuan notes at a bank counter in Hefei 2010. China trimmed its holdings of US debt for the fourth straight month in February, but was still the largest holder, according to Treasury Department data released on Friday.(AFP/File)


13 posted on 04/15/2011 11:12:05 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NormsRevenge

We ALREADY HAVE global recession, silly Ozombie.

Not enough food riots in the middle east for yah, eh?


14 posted on 04/15/2011 11:13:05 AM PDT by TruthConquers (.Delendae sunt publicae scholae)
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To: NormsRevenge

The burden of the world on my back again Øbama?
FUBO


15 posted on 04/15/2011 11:13:29 AM PDT by ▀udda▀udd (7 days - 7 ways a Guero y Guay Lao >>> with a floating, shifting, ever changing persona.....)
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The Right may not have picked a candidate .. yet..
but something tells me they'll be ready when it counts. ;-)

Voters listen to the speakers at a Tax Payer Tea Party Rally in Concord, New Hampshire April 15, 2011. REUTERS/Brian Snyder


16 posted on 04/15/2011 11:13:43 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: Qbert
Do exactly what I demand, or else and the worst-case scenario will occur.
17 posted on 04/15/2011 11:13:50 AM PDT by kosciusko51
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To: NormsRevenge
Cool, lets tip the cow and see what happens.

Actually, I think the next big surprise is going to be the meltdown of the Chinese economy. The central planners there have been pushing the gas and the brake at the same time for a while now. Nobody trusts the numbers coming out of there, so no one has a reliable idea of what's really happening there.

18 posted on 04/15/2011 11:14:15 AM PDT by throwback ( The object of opening the mind, as of opening the mouth, is to shut it again on something solid)
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To: NormsRevenge

Did John Boehner move to Kenya?


19 posted on 04/15/2011 11:14:30 AM PDT by Tupelo (The Boudicca from Wasilla supporter)
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To: NormsRevenge

Not the Japanese!


20 posted on 04/15/2011 11:14:38 AM PDT by TruthConquers (.Delendae sunt publicae scholae)
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