Skip to comments.Obama: Raise debt ceiling or risk global recession
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 ...
How to organize a community on a cheap budget.
Let the fear mongering begin...
So if we raise the debt ceiling and get another global recession anyway, then what?
Vote “no” just like he did when he was a smug senator.
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
So, what does Barry know about economics that would give him credentials to speak authoritatively on this issue? I think absolutely nothing.
So everything this bunch wants is a disaster if it doesn’t get passed?
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.
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)
We ALREADY HAVE global recession, silly Ozombie.
Not enough food riots in the middle east for yah, eh?
The burden of the world on my back again Øbama?
Voters listen to the speakers at a Tax Payer Tea Party Rally in Concord, New Hampshire April 15, 2011. REUTERS/Brian Snyder
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.
Did John Boehner move to Kenya?
Not the Japanese!
Is that true? I thought it was just a few Euro countries and the US. Aren't most other countries doing fairly well?
- Senator Obama
Now we got a case of Rs and Ds in congress most of which opposed raising the limit at one time or another who will pull together now to say we must raise it or else.
As I posted on another thread. raise it about $200B with another $30B of cuts in the same bill, then repeat a few months later. Since Obama and Reid say it must be passed they will have to accept them, right ?? LOL
“Obama: Raise debt ceiling or risk global recession”
Or in other words:
“You better let me put a few more sticks of dynamite on the pile around you, or I’ll blow you sky-high”
A political perpetual motion machine- worked for years.
When will the GOP wise up and start playing the PR game like they know what they're doing?
Latest Gallup Poll.. Lowest so far for O -— H/T Drudge
PRINCETON, NJ - The latest Gallup Daily tracking three-day average shows 41% of Americans approving of the job Barack Obama is doing as president. That ties his low as president, which he registered three times previously — twice in August 2010 and once in October 2010.
sounds like he has finally found his stride.
At least global recession will lower food and gas prices again :)
The news media here doesn’t report everything, might make the Ozomibe look bad.
Food riots are my evidence. The flood of cheap US dollars are going to keep it that way.
“When will the GOP wise up and start playing the PR game like they know what they’re doing?”
I have given up thinking that the GOP is stupid.
It has given them cover for SO MANY years, I am sick of it.
Doesn’t fly or add up anymore. They just aren’t for the people anymore. That is my conclusion.
Oh lowdy lowd!! Do what he sayyyyyy.....
If we don’t raise the debt ceiling, unemployment will go above 8%...
So, the banksters want the US to raise the debt ceiling or, so they threaten, they screw the world? Fiat currency made out of thin air by a marxist cartel is so cool.
How could we live without it? I don’t know.
(You know this ain’t coming from Obama. He’s got puppet masters that want this and are telling him what to say and do.)
Perfect! I LOLed so hard.
its only fear mongering when the GOP does it- when the radical left employs this tactic then its based on fact and reality- yet the GOP stands by silently and does not point out the hypocrisy....
didn’t we hear the same BS when obozo said $1trillion stimuloss was needed to avert disaster and keep unemployment at 8%???
its time for the GOP to start pointing fingers- it was time a half dozen years ago...
What do you think of the term “bi-factional ruling party”?
As opposed to this stunning recovery 0bama created for us?
Back into recession? Who does he think he’s kidding?
If they fail to raise the debt ceiling, there will be disaster.
What they fail to mention is that if they raise the debt ceiling, there will also be disaster.
I choose the former.
That pretty much sums it up right there.
Translation: Raise the debt ceiling or we won’t be able to prop up the markets any more.
If my Republican friends believe that increasing our debt by almost $800 billion today and more than $3 trillion over the last five years is the right thing to do, they should be upfront about it. They should explain why they think more debt is good for the economy.
How can the Republican majority in this Congress explain to their constituents that trillions of dollars in new debt is good for our economy? How can they explain that they think its fair to force our children, our grandchildren, our great grandchildren to finance this debt through higher taxes. Thats what it will have to be. Why is it right to increase our nations dependence on foreign creditors?
Sen. Harry Reid (D-Nevada), 2006
All of a sudden this BOZO is an economic genius.
Wasn’t this retard just lecturing us on how we’re going to be cutting the deficit?
How’s raising the debt ceiling accomplish that?
That would happen because they did not raise it high enough. The only solution, of course, would be to raise it again even higher.
Barky is making lots of noise these days...
Nothing comes without risk.
US deficit up 15.7% in first half of fiscal 2011
Hairy Reid on raising the debt ceiling on 2006:
“If my Republican friends believe that increasing our debt by almost $800 billion today and more than $3 trillion over the last five years is the right thing to do, they should be upfront about it. They should explain why they think more debt is good for the economy.
How can the Republican majority in this Congress explain to their constituents that trillions of dollars in new debt is good for our economy? How can they explain that they think it’s fair to force our children, our grandchildren, our great grandchildren to finance this debt through higher taxes. Thats what it will have to be. Why is it right to increase our nations dependence on foreign creditors?”
That and they will blame the Republicans for it anyway. LOL!