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Obama: Too much debt could fuel double-dip recession
reuters ^ | Wed Nov 18, 2009 7:20am EST | Caren Bohan

Posted on 11/18/2009 5:04:11 AM PST by Former Military Chick

BEIJING (Reuters) - President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.

With the U.S. unemployment rate at 10.2 percent, Obama told Fox News his administration faces a delicate balance of trying to boost the economy and spur job creation while putting the economy on a path toward long-term deficit reduction.

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


TOPICS: Breaking News; Government; News/Current Events
KEYWORDS: 0bama; 0bamaisfailing; donttreadonme; doubledipshit; gop2010; greatdepression2; idiocracy; keepthechange; madashell; obama; palin2012; recession; takebackamerica; time2partyagain; truthmatters0
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"It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession," he said.

I am just amazed at what this man declares when he is off of American soil.

Hello stop HEALTH CARE NOW!!

There are ways to reform that wont add to the debt.

1 posted on 11/18/2009 5:04:12 AM PST by Former Military Chick
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To: Former Military Chick

His mindset is that Obamacare will help reduce the deficit....


2 posted on 11/18/2009 5:05:28 AM PST by neodad (USS Vincennes (CG 49) "Freedom's Fortress")
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To: Former Military Chick

That must mean we need to spend another $$bajillion.....to stop the coming double-dip recession...


3 posted on 11/18/2009 5:06:23 AM PST by ElectricStrawberry (Didja know that Man walked with 100+ species of large meat eating dinos within the last 4,351 years?)
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To: Former Military Chick

Or his dumb-a$$ socialist policies might do that.

“Government is not the solution to the problem.

Government is the problem.”


4 posted on 11/18/2009 5:07:04 AM PST by Cringing Negativism Network (2012: Repeal it all... All of it!)
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To: Former Military Chick
Kill the bill.
Refund the Stimulus.
Reduce Taxes.

Duh.

5 posted on 11/18/2009 5:07:27 AM PST by paulycy (Demand Constitutionality.)
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To: Former Military Chick

He’s amazingly flexible about saying whatever he thinks people want to hear at a given time.

His strategy going forward will be to cut 25% of the deficit he created, then saying “See, I cut the deficit!”.

Nothing describes him better than “0”.


6 posted on 11/18/2009 5:09:37 AM PST by PreciousLiberty
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To: Former Military Chick

That’s the line BO tried selling to the men wearing green eye-shades at China’s central bank. They hold all the cards in this high-stakes game of global economic poker. They probably laughed themselves silly when this greenhorn left the room and marveled that the USA elected such a pathetic president.


7 posted on 11/18/2009 5:10:12 AM PST by kittymyrib
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To: Former Military Chick
For a "double-dip" recession, don't you have to come out of the first one first?

ML/NJ

8 posted on 11/18/2009 5:10:17 AM PST by ml/nj
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To: neodad

Yep that is what he told the leader of China who was equally concerned about our debt.


9 posted on 11/18/2009 5:10:24 AM PST by Former Military Chick (Please pray for our troops as they selflessly serve in harm's way say an extra one for my beloved!)
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To: Former Military Chick

Obama=Clueless


10 posted on 11/18/2009 5:11:02 AM PST by rockinqsranch (Dems, Libs, Socialists...Call 'em What you Will, They ALL have Fairies Living In Their Trees.)
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To: neodad

“His mindset is that Obamacare will help reduce the deficit....”

...despite several government studies that show exactly the opposite. He’s “brilliant”...not.


11 posted on 11/18/2009 5:11:11 AM PST by PreciousLiberty
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To: Cringing Negativism Network

I agree with you, I am shocked that more people do not recognize that it is gov. that is the problem.


12 posted on 11/18/2009 5:11:37 AM PST by Former Military Chick (Please pray for our troops as they selflessly serve in harm's way say an extra one for my beloved!)
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To: Former Military Chick

13 posted on 11/18/2009 5:12:09 AM PST by Doogle (USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: Former Military Chick
President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits

WTF is this? Sometimes I wonder if I'm in some parallel universe or something.

Sure...he's been tellin us all along to control our spending.
14 posted on 11/18/2009 5:12:09 AM PST by mmichaels1970
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To: Former Military Chick
President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits...

Obama's the guy who spend all the money! And he wants to blow through a few trillion more!

15 posted on 11/18/2009 5:12:13 AM PST by Obadiah (Obama: Chains you can believe in!)
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To: Former Military Chick

Just stunning. Like watching the town drunk, the new town drunk, preaching Temperance at Octoberfest.


16 posted on 11/18/2009 5:12:17 AM PST by Prospero (non est ad astra mollis e terris via)
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To: Former Military Chick

It’s so sad. Everyone there knows he’s a laughing stock.


17 posted on 11/18/2009 5:12:21 AM PST by b4its2late (Before you can control a horse, you have to break it. Sound familiar?)
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To: Former Military Chick

It is just double talk to build support for more taxes, not less spending.


18 posted on 11/18/2009 5:12:21 AM PST by DB
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To: PreciousLiberty
His strategy going forward will be to cut 25% of the deficit he created, then saying “See, I cut the deficit!”

Yeah...but that won't fly with our Chinese bankers. They don't care about Obama's congenital lies and verbal sleight of hand.

They will look at the bottom line!

19 posted on 11/18/2009 5:12:54 AM PST by SonOfDarkSkies (Rush on Obama: "immature, narcissistic and inexperienced")
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To: Former Military Chick

He’s signalling that he’s planning BIG TAX RAISES.


20 posted on 11/18/2009 5:13:08 AM PST by MortMan (Stubbing one's toes is a valid (if painful) way of locating furniture in the dark.)
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To: Former Military Chick
Uh oh and oops...That's the last interview he will give Fox News.

sw

21 posted on 11/18/2009 5:13:15 AM PST by spectre (Spectre's wife)
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To: Former Military Chick
Obama: Too much debt could fuel double-dip recession

It's like someone gave 0Dumbo a book on economics and every couple of days he gets to a new chapter and has a new revelation. He's getting his econ OJT playing with our economy. I guess his extensive experience as a "community organizer" didn't prepare him.

Now he's finally figuring out that YOU DON't RAISE TAXES IN A RECESSION (DEPRESSION)! What a moron!

22 posted on 11/18/2009 5:13:50 AM PST by The Sons of Liberty (Pork Eating CRUSADER - FUBO! Mene, Mene, Tekel, Upharsin)
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To: PreciousLiberty
He’s amazingly flexible about saying whatever he thinks people want to hear at a given time.

And the boobs lap it up
23 posted on 11/18/2009 5:14:23 AM PST by uncbob
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To: Former Military Chick
President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits

I think Oboma may be retarded. He's spending like a whore after a DNC convention, and at the same time warning other people about it. China must think the entire U.S. is retarded for voting for him.

What an embarrassment.

24 posted on 11/18/2009 5:14:55 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: Former Military Chick

Did he think of that all on his OWN, or has he actually been listening to someone with a quarter of a brain?


25 posted on 11/18/2009 5:15:02 AM PST by nina0113
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To: Former Military Chick

the man’s a geniousss/


26 posted on 11/18/2009 5:15:18 AM PST by usshadley (Orwell was an Optimist)
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To: The Sons of Liberty
Now he's finally figuring out that YOU DON't RAISE TAXES IN A RECESSION (DEPRESSION)!

No he's not.

What a moron!

Yes he is.

He's just setting somebody else up to take the blame when it happens.
27 posted on 11/18/2009 5:16:08 AM PST by mmichaels1970
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To: kittymyrib
They hold all the cards in this high-stakes game of global economic poker.

In the words of Hitler "All they own is SCRAPS OF PAPER " That is why they are so concerned
28 posted on 11/18/2009 5:16:30 AM PST by uncbob
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To: Former Military Chick

Wish I were that eloquent.

I was quoting President Reagan. :)


29 posted on 11/18/2009 5:16:48 AM PST by Cringing Negativism Network (2012: Repeal it all... All of it!)
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30 posted on 11/18/2009 5:17:01 AM PST by devolve ( . "I would caution you against jumping to contusions!" - Barack Hasan Osama Junior - mmm mmm mmm)
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To: DB

WE HAVE A WINNAH!


31 posted on 11/18/2009 5:17:34 AM PST by SlowBoat407 (Achtung. preparen zie fur die obamahopenchangen.)
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To: MortMan
He’s signalling that he’s planning BIG TAX RAISES.

Anybody earning more than $150,000 a year will see the bush tax rates sunset. The $250,000 is baloney. O is a liar.

32 posted on 11/18/2009 5:17:35 AM PST by GUNGAGALUNGA (Its in the hole............)
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To: Former Military Chick

Pot. Kettle. Am I allowed to say this?... Black.


33 posted on 11/18/2009 5:18:16 AM PST by John W (There Is No Normal Anymore)
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To: neodad
His mindset is that Obamacare will help reduce the deficit....

It won't, but the way they keep the cost 'down' is to increase taxes and decrease services. Smoke and mirrors.

34 posted on 11/18/2009 5:19:17 AM PST by savedbygrace (You are only leading if someone follows. Otherwise, you just wandered off... [Smokin' Joe])
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To: Former Military Chick
"We've examined a lot of them but one of the benefits of convening this group is it gives us a chance to talk directly to small businesses, medium-size businesses, the main drivers of employment to find out what exactly is going on,."

Fixed it--the last part of the sentence is superfluous.

35 posted on 11/18/2009 5:20:24 AM PST by Fetid Facts (Under Democrats, "The law is a ass--a idiot.")
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To: Former Military Chick

You are absolutely correct!!!! Obamacare and all Obama’s agenda needs to be thrown out of the window. Tax cuts for small business immediately, let GM & Chrysler sink. Get all the TARP money back and let the big banks sink or swim on their own. Fear not, folks credit unions and small banks can do the job, they have been. Drill for oil wherever it is in the USA, build nuclear power plants across the USA and use coal as the main energy source to generate electricity. Stop all bailouts and funding to political groups like ACORN who do nothing to grow the economy at all. POTUS Obama better wake up quickly. As his trip out to the PRC clearly shows, the USA is taking a second place to both the PRC (China) and India!!! Boy, we really tied an anchor around the USA economy neck by electing Obama, the community organizer as POTUS, along with his braindead Democrat Party. Poor soul does not have a clue!!!


36 posted on 11/18/2009 5:21:19 AM PST by JLAGRAYFOX
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To: mmichaels1970
Obama: Too much debt could fuel double-dip recession

I suspect that the fact that 0bama even brought this up is because the economists have told him it IS going to happen. It is probably already underway.

He's saying it now, so he can distance himself as the REAL cause, and to soften the political impact.

37 posted on 11/18/2009 5:21:19 AM PST by The Sons of Liberty (Pork Eating CRUSADER - FUBO! Mene, Mene, Tekel, Upharsin)
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To: PreciousLiberty

Keep in mind that he will have the msm lying for him every step of the way.

Problem for him and them is that people know very well there are no jobs.

He can spin the numbers, spin the green shoots, etc. but the fact remains. NO JOBS


38 posted on 11/18/2009 5:21:37 AM PST by Carley (OBAMA IS A MALEVOLENT FORCE IN THE WORLD)
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To: Former Military Chick

You are forgetting that they are stupid enough to think they healthcare will lower the debt.

Because any sane person knows when you give millions of people millions of dollars in free insurance... you save money... /sarc


39 posted on 11/18/2009 5:22:15 AM PST by TexasFreeper2009 (Obama lied, the economy died)
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To: Former Military Chick

You can bet money that if Zero says Double dip Recession he MEANS a Depression.
There is NO way he will stop the HCR econ destroyer.As a Narcissist he will never ADMIT that HIS plan is a MISTAKE.


40 posted on 11/18/2009 5:23:36 AM PST by Marty62 (former Marty60)
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To: Former Military Chick

Last we heard you’re president Obama. Do something about it, instead of voting present on the issue and piling even more debt


41 posted on 11/18/2009 5:24:11 AM PST by 4rcane
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To: MortMan

big tax raises... Yeah! that will jumpstart the economy and create jobs!

/sarc

wow, just wow.

And I thought Carter was bad.


42 posted on 11/18/2009 5:24:21 AM PST by TexasFreeper2009 (Obama lied, the economy died)
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To: Former Military Chick

The guy who spent a trillion dollars in his first month in office is warning about debt, while pushing his healthcare boondoggle? This dude is truly schizo.


43 posted on 11/18/2009 5:24:28 AM PST by Excuse_My_Bellicosity (Liberalism is a social disease.)
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To: savedbygrace

” increase taxes and decrease services. Smoke and mirrors “

He’s already taxed the ‘smoke’ — I guess ‘mirrors’ are next..... ;)


44 posted on 11/18/2009 5:25:03 AM PST by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: mmichaels1970

“He’s just setting somebody else up to take the blame when it happens.”

You beat me to it. We can’t say he didn’t warn us.


45 posted on 11/18/2009 5:25:25 AM PST by balls (Never again in 2010 -- Let's throw the bums out!)
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To: The Sons of Liberty
I suspect that the fact that 0bama even brought this up is because the economists have told him it IS going to happen. It is probably already underway.

Yeah, it is. My husband is an accountant. What we have now is unsustainable. We're in another bubble already, and it's going to explode.

46 posted on 11/18/2009 5:26:16 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: Former Military Chick

I get the sense from him that he’s treating this issue from arm’s length. As if, its not his responsibility and he’s raising the issue so that someone will do something about it


47 posted on 11/18/2009 5:26:18 AM PST by 4rcane
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To: concerned about politics

China must think the entire U.S. is retarded for voting for him.

Not the entire US but well over 50% of those over eighteen.

But then the alternative offered (by the political cabal, the CFR) was John McCain.

There are a few not playing their game, e.g. Sarah Palin, Ron Paul, but they are and will be shutdown when getting traction.

48 posted on 11/18/2009 5:27:14 AM PST by jnsun (The Left: the need to manipulate others because of nothing productive to offer.)
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To: Former Military Chick

He’s just NOW coming to that conclusion...sheesh..talk about a day late and a dollar short...


49 posted on 11/18/2009 5:27:26 AM PST by mo
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To: Former Military Chick

It’s a slow day in a little town in east Texas. The sun is beating down, and the streets are deserted. Times are tough, everybody’s in debt, and living on credit.

On this particular day a rich tourist from up north is driving through town. He stops at the motel and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs in order to pick one to spend the night.

As soon as the man walks upstairs, the owner grabs the bill and runs next door to pay his debt to the butcher. The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill at the feed store.

The guy at the Farmer’s Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her “services” on credit.

The hooker rushes to the hotel and pays off her room bill with the hotel owner.

The hotel proprietor then places the $100 bill back on the counter so the rich traveler won’t suspect anything.

At that moment the traveler comes down the stairs, picks up the $100 bill, states that the rooms aren’t satisfactory, pockets the money, and leaves town.

No one produced anything. No one earned anything. However, the whole town is now out of debt and looks to the future with a lot more optimism.

And that, ladies and gentlemen, is how the United States Government is conducting business today!
THANK YOU VERY MUCH!


50 posted on 11/18/2009 5:28:46 AM PST by The Sons of Liberty (Pork Eating CRUSADER - FUBO! Mene, Mene, Tekel, Upharsin)
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