Obama: Raise debt ceiling or risk global recession

Yahoo ^ | 4/15/11 | Ben Feller - AP

[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.

[NormsRevenge]

I doubt his brother in Kenya would notice much difference.

[NormsRevenge]

Fear
Doom
Chaos

How to organize a community on a cheap budget.

[DonaldC]

Let the fear mongering begin...

[ConjunctionJunction]

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

[onyx]

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

[NormsRevenge]

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

[556x45]

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

[rawhide]

‘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!

[ColdOne]

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

[Armaggedon]

Obama the spokesman for the unholy trinity of hate, lies and death. America must cast off this ghoul.

[Qbert]

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.

[rockvillem]

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.

[NormsRevenge]

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)

[TruthConquers]

We ALREADY HAVE global recession, silly Ozombie.

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

[ßuddaßudd]

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

[NormsRevenge]

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

[kosciusko51]

Do exactly what I demand, or else and the worst-case scenario will occur.

[throwback]

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.

[Tupelo]

Did John Boehner move to Kenya?

[TruthConquers]

Not the Japanese!