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Live Thread: Obamageddon Press Conference 11 A.M. EDT (and GOP morning presser)
Friday, July 14, 2011 | Kristinn

Posted on 07/15/2011 7:28:37 AM PDT by kristinn

Obama and GOP to hold dueling press conferences this morning on the pending Obamageddon. The Republicans are set to speak to the press sometime this morning after a closed door caucus meeting featuring a doomsday briefing on debt default.

Obama is set to speak at 11 a.m. EDT.


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: enemiessez0bama
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To: PapaBear3625
"Should, for any reason, the Trust Fund need to redeem it’s position ( roll off its T-bonds ) it can sell them in the open market or present them for payment. Should the Resident NOT pay — it would be a clear cut DEFAULT by the US Treasury, no ifs ands or buts.

The Social Security trust funds are, by law, invested in a special class of bond which cannot be sold on the open market (although they could be presented for payment):

By law, income to the trust funds must be invested, on a daily basis, in securities guaranteed as to both principal and interest by the Federal government. All securities held by the trust funds are "special issues" of the United States Treasury. Such securities are available only to the trust funds. In the past, the trust funds have held marketable Treasury securities, which are available to the general public.

Unlike marketable securities, special issues can be redeemed at any time at face value. Marketable securities are subject to the forces of the open market and may suffer a loss, or enjoy a gain, if sold before maturity. Investment in special issues gives the trust funds the same flexibility as holding cash.

Source:

http://www.socialsecurity.gov/OACT/ProgData/fundFAQ.html

261 posted on 07/15/2011 10:25:16 AM PDT by In Maryland ("The Federal Government is no longer one of limited and enumerated powers." -Justice Clarence Thomas)
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To: kristinn
Obama says if debt ceiling not raised $2.4 trillion you will be gutting programs

There's at LEAST 2.4 trillion in programs that NEEDS TO BE GUTTED! Let's start with Obamacare and then, fraudulent Medicare, Privatize Fannie and Freddie, Pass tough TORT reform that is draining the system. The list is endless where cuts can be made.

262 posted on 07/15/2011 10:36:10 AM PDT by ThomasMore (Islam is the Whore of Babylon!)
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To: JLAGRAYFOX

Agreed but they make too much of this crap. If Biden became pres. he would get nothing done and can skip the campaigning. He couldn’t do any more harm than Osama/Obama. In fact, we could put him on an AMTRAK train and send him to DC. It will be at least 2012 until he finds the White house.


263 posted on 07/15/2011 10:44:08 AM PDT by DrDude (Focused like a LASER on creating jobs!)
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To: tcrlaf
IS HE REALLY THAT F-IN STUPID? - YES

And why is the media not calling him on this stupidity? - YOU'RE KIDDING, RIGHT?

264 posted on 07/15/2011 11:33:08 AM PDT by LaybackLenny (Palin-________ Overdrive 2012 - Holy Flippin' Crap!!)
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To: musicman

BFLR


265 posted on 07/15/2011 11:34:44 AM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: maggief
He has reams of paper and spread sheets on his desk?>>>>>>>>>>>>>>>>>>

No its just a laser dot.

Obama is about to go down, and thats with him being propped up by the media.

The crash will involve histrionics, tantrums, threats, creation of false "default" crisis and a run for the 14th amendment to circumvent Congress.

The Obama regime is fascist, and that is no joke. Just look at the manipulation of the public by the media, and by the White Hut.SHAMEFUL.This whole grift is pointed at the increase of dictatorial powers in Obama.

We are close on to impeachment time, just to get the truth out to the US public.Draw articles in the HOuse and throw the whole mess of his consitutional crimes at him.

266 posted on 07/15/2011 12:57:27 PM PDT by Candor7 (Obama fascist info..http://www.americanthinker.com/2009/05/barack_obama_the_quintessentia_1.html)
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To: tcrlaf

OMG! Obama just said “Job-Killing Tax-Cuts”!
IS HE REALLY THAT F-IN STUPID?
And why is the media not calling him on this stupidity?

Hmmm Do you really need an answer...


267 posted on 07/15/2011 1:51:01 PM PDT by blueyon (The U. S. Constitution - read it and weep)
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To: tcrlaf

OMG! Obama just said “Job-Killing Tax-Cuts”!
IS HE REALLY THAT F-IN STUPID?
And why is the media not calling him on this stupidity?

Hmmm Do you really need an answer...


268 posted on 07/15/2011 1:51:14 PM PDT by blueyon (The U. S. Constitution - read it and weep)
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To: kristinn
Obamageddon!

Waiting for the U-tube video of Hitler ranting about the failed Omageddon campaign,

269 posted on 07/15/2011 6:58:18 PM PDT by spokeshave (Obamas approval ratings are so low, Kenyans are accusing him of being born in the USA.)
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To: zzeeman

Oh they’ve been using the “we can’t afford to pay for tax cuts for the super rich” since at least Clinton.


270 posted on 07/16/2011 6:29:18 AM PDT by Dr.Deth
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To: kristinn

It’s hilarious to see Yahoo and others carrying Obama’s water—”Obama taking his case to the American people”! OOOOOHHHH, wow, he’s having another flippin press conference, how innovative!


271 posted on 07/16/2011 8:26:24 AM PDT by Darkwolf377 (``Stupidity is also a gift of God, but one mustn't misuse it``-Pope John Paul II)
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To: jennings2004
I had a Jewish doctor (PhD type) friend and when he sent me his note with a glowing report on his support for Obama back in 2008, I dismissed him and his “friendship.”

We are all having to make decisions on friendships. There is a line being drawn in the sand.

272 posted on 07/16/2011 10:33:22 AM PDT by taraytarah
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