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Obama On Debt: "We Don't Have To Worry About It Short Term" (video)
RealClearPolitics ^ | September 18, 2012 | RealClearPolitics

Posted on 09/18/2012 9:13:44 PM PDT by i88schwartz

When asked if he remember what the national debt was when he entered office, President Obama said "I don't know what the number was precisely." Obama told Letterman "we don't have to worry about it in the short term."

"A lot of it we owe to ourselves. Because if you invest in a treasury bill or something like that then essentially you're loaning the government money. In fact, the majority of it is held by folks who live here, but we don't have to worry about it short term," Obama said.

(Excerpt) Read more at realclearpolitics.com ...


TOPICS: News/Current Events; Politics/Elections
KEYWORDS: barackobama; debt; letterman

1 posted on 09/18/2012 9:13:49 PM PDT by i88schwartz
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To: i88schwartz

President Obama’s understanding of basic economics

F


2 posted on 09/18/2012 9:15:14 PM PDT by Viennacon
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To: i88schwartz

We’re all dead in the long term, so don’t worry about that, either.


3 posted on 09/18/2012 9:16:27 PM PDT by Tublecane
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To: Viennacon

I think Reagan said something similar.


4 posted on 09/18/2012 9:16:31 PM PDT by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: i88schwartz

Which is why demorats always rack up the debt, and Republicans always lower it.

Wake up America!!!!


5 posted on 09/18/2012 9:16:34 PM PDT by SAR (Son of THE Revolution.)
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To: i88schwartz

I take it by “short term” he means some time after 2016. Then it will be someone else’s mess to clean up.


6 posted on 09/18/2012 9:22:51 PM PDT by FlingWingFlyer (The United States of America apologizing to knuckledragging, cavedwelling Neandethals. Whodda thunk!)
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To: i88schwartz

All of these people who push this idea about borrowing, debt, etc. should prove they actually believe it by applying it to their personal finances - spend 50% more than you earn on an annual basis, take out multiple additional mortgages on your home each and every year to pay for these expenses and to pay for the additional mortgage payments and see how long you last. They should prove they believe it.


7 posted on 09/18/2012 9:22:59 PM PDT by Republican Wildcat
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To: i88schwartz

We are investing in treasury bills, in a sense. Call it forced investment. The Fed makes money out of thin air, which steals it from everyone foolish enough to hold dollars. So the debt is owed to you, dear savers. It will be remitted by your descendants, or not. And not to you, if at all, but to...um, I dunno. Don’t worry, we won’t pay it back.


8 posted on 09/18/2012 9:23:14 PM PDT by Tublecane
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To: i88schwartz

What.....a.....pig.


9 posted on 09/18/2012 9:25:42 PM PDT by originalbuckeye
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To: Republican Wildcat

“see how long you last”

If I were allowed to steal from people too, awhile.


10 posted on 09/18/2012 9:28:10 PM PDT by Tublecane
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To: i88schwartz
""" or something like that""",

that is just so presidential & so profound, I am in awe of his wonderful "GIFT"/s.

11 posted on 09/18/2012 9:37:53 PM PDT by annieokie (O)
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To: i88schwartz

Soetoro is a Soros puppet. The useful idiot is a cancer that needs to be cut out at the voting booth.


12 posted on 09/18/2012 9:45:43 PM PDT by VRWC For Truth (Roberts has perverted the Constitution)
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To: Republican Wildcat

You beat me to the analogy between personal debt and government debt.

It is one in the same...just on a bigger scale.

I read this whole article (couldn’t listen to the vid because O makes me livid) just to be sure that I a firm grasp of what he was peddling.

He has absolutely no grasp of economics.

Sadly, lots of people will be soothed by his Bravo Sierra.


13 posted on 09/18/2012 9:51:47 PM PDT by berdie
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To: i88schwartz

Someone posted some really great pie charts about our debt as of 6/30/12. Amount at that time that was borrowed from U.S. companies and investors was 42.8% or $6.79T, from Social Security a mere 16.4% or $2.6T

All these groups/people have to do to substantially lower our debt is to pay back the money the government borrowed from them. /s


14 posted on 09/18/2012 9:52:42 PM PDT by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: i88schwartz

If Barack Obama wants to bribe the electorate to get re-elected, then he should do it with his own money! It’s about time “We the People” - those who own the government, work and pay taxes - March on Washington and foreclose the White House! The Republic wants a refund and we’ll start with the record 5.5 trillion in debt, in 4 years no less, he blew on worthless bailouts, welfare for illegal immigrants, shady kickbacks to campaign donors, and socialist healthcare.


15 posted on 09/18/2012 9:53:32 PM PDT by xuberalles ("The Right Stuff" Conservative Novelties http://www.zazzle.com/xuberalles)
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To: i88schwartz
we owe it to ourselves?

my daughter, when 16, said the same about a new bmw I was supposed to buy her because she was owed it.

Obama uses the same immature reasoning as did my daughter back then.

Oh, today she is 26 and knows that a 2000 saturn gets her around, just fine, thanks.

16 posted on 09/18/2012 10:10:13 PM PDT by llevrok (By comparison to Obama, at least Nero could play a fiddle.)
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To: Nachum

ping


17 posted on 09/18/2012 10:11:50 PM PDT by Jet Jaguar (The pundits have forgotten the 2010 election.)
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To: FlingWingFlyer

if he wins in 2012, what makes you think he won’t be in power past 2016?


18 posted on 09/18/2012 10:12:10 PM PDT by kingcanuteus
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

Thanks Jet Jaguar

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


19 posted on 09/18/2012 10:28:47 PM PDT by Nachum (The List was hacked- www.nachumlist.com)
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To: i88schwartz
FROWARD=DIFFICULT TO DEAL WITH,CONTRARY,PERVERSE


20 posted on 09/18/2012 10:29:23 PM PDT by timestax (Why not drug tests for the President AND all White Hut staff ? ? ?)
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To: kingcanuteus
What do you think all the ammo is for that the gonverment is hoarding.
21 posted on 09/18/2012 11:11:51 PM PDT by funfan
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To: i88schwartz

It’s funny, when he was running for TOTUS the last time, he thought the much smaller Bush-era debt was terrible.


22 posted on 09/18/2012 11:14:30 PM PDT by PghBaldy (I am sick of Obama's and Hillary's apologies to muslims, especially after 11 September 2012.)
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To: PghBaldy

If the debt were OK, the private markets would be buying it all and the Fed would not be printing money.


23 posted on 09/18/2012 11:42:33 PM PDT by Soul of the South
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To: Soul of the South

Don’t worry, be happy. What about China? China is holding much of our debt. And Romney needs to play up this scary but true point in ads.


24 posted on 09/18/2012 11:51:14 PM PDT by Hokestuk
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To: PghBaldy

“It’s funny, when he was running for TOTUS the last time, he thought the much smaller Bush-era debt was terrible.”

You’re right! I’d forgotten about that! - I think he counts on the gullible voters to be mesmerized and forget what he said yesterday. - I feel like I’ve been on a constantly running roller coaster the past four years! His mouth does constantly run.


25 posted on 09/19/2012 3:18:03 AM PDT by Twinkie (In whose eyes a vile person is contemned. Ps. 15:4a)
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