Posted on 04/20/2011 4:52:15 PM PDT by Sub-Driver
Obama says spending cuts could trigger second recession 5:53pm EDT
PALO ALTO, California (Reuters) - President Barack Obama said on Wednesday he believes the U.S. economy could lapse back into recession if government spending is cut too deeply.
Obama made the comment at a Facebook town hall, which he used to promote his proposals for reducing U.S. deficits. He said Republicans are too narrowly focused on spending cuts.
Obama also said the lack of a serious plan to tackle U.S. deficits could become a big drag on the economy if investors pull back.
"If all we are doing is spending cuts, and we are not discriminating about it, if we are using a machete instead of a scalpel............
(Excerpt) Read more at reuters.com ...
He is just soooo stupid.
But he is black.
At a minimum what we could is ... nothing ... not use a machete or a scalpel. Simply stop increasing spending and stop increasing the national debt. That is not a cut ... its simply a freeze. But Congress and O can’t even do that. Just pitiful.
Actually, I am aware of the bovine excrement being put out by the White House. Those of us who live in the real world know that the “first” recession, or maybe it’s a depression now, is still going on.
SECOND!!!???
When did the first one end????
It’s amazing, isn’t it? Cutting govt spending would hurt the economy, but raising taxes on producers will fix things, according to this economic illiterate.
Current deficit: 1.6 Trillion.
Expected additional income by raising the taxes on the “rich”: 80 billion.
Gee - cut the deficit all the way down to 1.5 trillion. So it wouldn’t come close to fixing the deficit, and would chill anyone willing to take a risk to create wealth and jobs.
It is now clear that the Democrats (and some Republicans) have made promises that the taxpayers cannot keep. I think we now have a government of lies, not of men who tell the truth.
LLS
What a dumbass. I cannot stand this person.
Zero said cutting spending (by the Government) would cause a recession. When Obama is spending more than he’s taking in, he’s taking money out of the economy. Am I wrong?
I don't disagree with that. Your first post said: "I fail to see how taking money out of the economy causes a recession."
By spending more than they have they ARE taking money out of the economy.
My thought on your first post was that you meant to say: "I fail to see how taking money out of the economy WOULD NOT cause a recession!"
Does that sound right?
Hey Obastard, I’ll take another recession over the financial destruction of the country. But then again, you know that - you want the USA destroyed.
I’m more interested in the Republican’s rebuttal for that one.
You can bet we’re going into a deep recession and you can bet that Obama and all dem candidates will be blaming the repiblican Congress with or without cuts.
What was the rebuttal from Boehner?
I think the left has concluded that the longer people stay unemployed and increasingly desperate with no hope of a recovery in sight, the more receptive they’ll eventually become to marxism. They’re probably right. Of course, history shows that the NAZIs got their start engaging in street fights with communists. Meanwhile, I’ve yet to see a sustainable cradle-to-grave welfare state anywhere.
Obama can always veto a GOP budget. Ultimately, the blame falls on him, and him alone. It’s his budget, since he’s The Won who signs it.
If .gov HAS to spend money to stay out of a ‘recession’, then were are we anyway? Sure we’ll take a big hit to GDP if we stop the BS, but it has to be done! All we’ve been doing is papering it over and pretending everything is ‘fine’.
Am I wrong in my thinking it was something like 3 years later the Great Depression hit? Do I have that correct? Even with the war machine in full auto, didn't it take like 10 years for the US economy to stablize during the 50's, and sit there in stagflation for some time until then? Am I wrong?
The Commiecrats simply declared it over at some point. We have always been at war with East Asia...
Stupid a$$es who believe this lying, piece of socialist filth will agree with him...
Sheesh, I’m just so sick and tired of him and his perpetual lying. On and on and on...it goes, the lies never stop.
What’s worse, is that his supporters are just too damn stupid to know what he’s doing thanks to the NEA.
They’ve done their work well...
These Democrats who call themselves "progressives" are anything but progressive! Their policies come out of the same mindset which has kept mankind enslaved for most of recorded history!!! They are regressive in their thinking and in their policies, and if they're allowed to continue in office, America will join all the other nations who have subscribed to such villainous ideologies.
Are there examples in American history where the general welfare of the society benefitted by applying the principles of so-called "government" control?
A reading of Governor Bradford's diary of the experience of the Jamestown Colony might be instructive here.
America's Founders preferred liberty for individuals, and their principles made America a desired destination for millions for over 200 years.
"To preserve [the] independence [of the people,] we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, give the earnings of fifteen of these to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread, we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:39
"Were we directed from Washington when to sow and when to reap, we should soon want bread." --Thomas Jefferson: Autobiography, 1821. ME 1:122
"I deem [this one of] the essential principles of our government and consequently [one] which ought to shape its administration:... The honest payment of our debts and sacred preservation of the public faith." --Thomas Jefferson: 1st Inaugural, 1801. ME 3:322
"I sincerely believe... that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." --Thomas Jefferson to John Taylor, 1816. ME 15:23
"[With the decline of society] begins, indeed, the bellum omnium in omnia [war of all against all], which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man. And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression." --Thomas Jefferson to Samuel Kercheval, 1816. ME 15:40
Put the "redistribute-the-wealth" philosophy of Obama up against the philosophy of individual, Creator-endowed liberty expressed by Jefferson, and then talk about who's "radical" or "extreme."
Yeah. I need to get my English degreed daughter to review my writing. Thanks.
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