Skip to comments.President Obama: There Is No Debt Crisis
Posted on 03/13/2013 10:24:15 AM PDT by mandaladon
There has been no shortage of dire warnings about the mounting US national debt, but President Obama is now offering a different assessment: no big deal.
"We don't have an immediate crisis in terms of debt," President Obama said in an exclusive interview with George Stephanopoulos for "Good Morning America." "In fact, for the next 10 years, it's gonna be in a sustainable place."
It's an assessment that will throw cold water on the latest attempt to achieve a so-called grand bargain to reduce the deficit. After all, a grand bargain would require excruciatingly difficult decisions for both sides - for Republicans, it would mean raising taxes, and for Democrats, cutting future spending on cherished programs like Social Security and Medicare. If there is no crisis, why would either side do it?
So, what happens if this latest effort to reach a deficit agreement falls through? Once again, the president's answer was, essentially, no big deal.
"Ultimately, it may be that the differences are just too wide" to get a deal, President Obama said. "That won't create a crisis. It just means that we will have missed an opportunity."
The president's reasoning is that the series of 11th hour agreements he has struck with Republicans over the last two years - to prevent a government shutdown, raise the debt ceiling and avoid the fiscal cliff - have resulted in enough deficit reduction to get the debt under control.
"I think what's important to recognize is that we've already cut $2.5- $2.7 trillion out of the deficit," he told Stephanopoulos. "If the sequester stays in, you've got over $3.5 trillion of deficit reduction already."
(Excerpt) Read more at news.yahoo.com ...
And how to you spell Liar: O B A M A
IF his lips are moving, look out!!
My only response to this son of a bitch involves very few words one would use in polite company.
i had to check for the semi-satire tag first. then the cited news source.
so basically he’s saying there will be no debt problem for his next 4 years and about 6 years of his protege’s terms...?
and it will be his protege, because the elite repubs are in bed with him and won’t do sh1t to reverse anything, just lip service as usual to dupe us.
Then, why is he raising taxes?
Kinda like, "Say, can I borrow $20? But only give me $10. That way, you'll owe me $10 and I'll owe you $10 and we'll be even."?
When one has a President that lies about every time his lips move, what do you call people who have heard him lie 1,000 times in a row and still believe him?
Morons? Mind-numbed robots? Low information voters?
Intelligent foreigners around the world must be aghast that Americans elected and re-elected a President so low life that he will never even amount to trailer park trash.
And his wife?
So, Obaba is selling an hour of quality time with him for $500,000 or so? How much for an hour with the wife? $20?
Wow. I want some of whatever he’s been smoking. Maybe.
There is no debt crisis. There’s plenty for everyone!
nobama is a Moslem. He’s practicing Taqiyya.
Well, he’s right. There is no debt crisis right now and with the deficit coming down more and more there won’t be one in the foreseeable future.
And I never passed gas or burped since I was a baby, RIGHT?!!!
Or wait Mr. President, are you saying that pigs fly?!!!
I know a woman whose deductable has tripled and her co-pay has increased from $25 to $63. What the idiots who vote for democrats can’t seem to get through their heads is they’re gonna’ get screwed just like everybody else.
. . . and the band played on.
Freedom From War, Publication 7277, State Dept. 1961.
Reducing nuke stockpile. Internal security forces - ie "we need a civilian military AS STRONG as ou military". Cutting regular military down - a sizeable part of which is operating under UN command or fulfilling UN objectives. Disarming citizens. The latest UN small arms treaty crap. Destroying the last superpower by killing the economy and creating economic crises by printing money like water. Getting ready to Cyprus our 401k's into "government bonds" and private bank savings into "stock/equity in the bank" your money's in - worse than FDIC-insured. Not far fetched as he hates America, walked around for months with the Post-America book he was reading, has all national intelligence assets looking at anyone who is "anti-government" (anti-Obama) as a threat. (And in case you didn't know, Freedom From War, the UN treaties do not allow civillians to remain armed - which means confiscation, by force if necessary.)
Do not think they will not take your supplies as well, as these emergency orders will also allow them to take any of your property they need. Once they disarm you it won't be hard.
This is what it's all about. In its "Second Annual Report to Congress" (February 1963), the ACDA presented a simple graphic depiction (see top of next page) demonstrating its proposed three-stage disarmament process:
U.S. THREE-STAGE DISARMAMENT PLAN