Posted on 10/03/2015 3:18:20 PM PDT by Sir Napsalot
PRESIDENT BARACK OBAMA: Maybe it's been a while, so let me refresh everyone's memory. Raising the debt ceiling does not authorize us to spend more. It simply authorizes us to pay the bills that we have already incurred.
It is the way for the United States to maintain its full faith and credit. Historically, we do not mess with it.
If it gets messed with it would have profound consequences for the global economy and it could put our financial system into the kind of tailspin we saw back in 2007, 2008: and we can do that in short order.
(Excerpt) Read more at realclearpolitics.com ...
I think I'll just borrow more, ask the banks to raise my limits, to boost my credit standing then.
Pathological liar, demented fool, and pure evil. Does that cover the bases?
/giggle. Obama he funny guy.
What a nimrod. See tagline.
Everything about socialism is sham and affectation - 23.11 Ch23; Evil; Economic Harmonies; Frederic Bastiat
Socialism Is Legal Plunder
The Results of Legal Plunder
It is impossible to introduce into society a greater change and a greater evil than this: the conversion of the law into an instrument of plunder.
/Bastiat
Rules for Changing a Limited Republican Government into an Unlimited Hereditary One…
6. But the grand nostrum will be a public debt…
7. It must not be forgotten that the members of the legislative body are to have a deep stake in the game. This is an essential point, and happily is attended with no difficulty. A sufficient number, properly disposed, can alternately legislate and speculate, and speculate and legislate, and buy and sell, and sell and buy, until a due portion of the property of their constituents has passed into their hands to give them an interest against their constituents…
9. The management of a great funded debt and a extensive system of taxes will afford a plea, not to be neglected, for establishment of a great incorporated bank. the use of such a machine is well understood. If the Constitution, according to its fair meaning, should not authorize it, so much the better. Push it through by a forced meaning and you will get in the bargain an admirable precedent for future misconstructions.
10. “Divide and govern”…
11. As soon as sufficient progress in the intended change shall have been made, and the public mind duly prepared according to the rules already laid down, it will be proper to venture on another and a bolder step toward a removal of the constitutional landmarks.
/Freneau
Debates in the House of Representatives on the First Report on Public Credit 9–18 February 1790
James Jackson (Ga.)
But it is doubted with me whether a permanent funded debt is beneficial or not to any country.
The same effect must be produced that has taken place in other nations; it must either bring on a national bankruptcy or annihilate her existence as an independent empire. Hence I contend, sir, that a funding system, in this country, will be highly dangerous to the welfare of the republic; it may, for a moment, raise our credit and increase the circulation, by multiplying a new species of currency; but it must, in times afterward, settle upon our posterity a burthen which they can neither bear nor relieve themselves from. It will establish a precedent in America that may, and in all probability will, be pursued by the sovereign authority until it brings upon us that ruin which it has never failed to bring, or is inevitably bringing, upon all the nations of the earth who have had the temerity to make the experiment.
http://oll.libertyfund.org/titles/875
POSOTUS, deceiver-in-chief should be in prison…WITH CONgre$$
Obama couldn’t rent a car because all his credit cards were maxed
If you have incurred bills without the funds to pay for them, you have basically committed theft. Think that might be the problem right there.
Patronizing bastard.
Raising (or is it razing?) the debt limit allows us to borrow more money.
Shut. It. Down.
Even duct tape can’t fix stupid, but it can muffle the sound!
I’ll bet my FICO score is better.
I want to understand why they don’t raise the debt ceiling to $1,000,000,000,000,000 ? That should not only get us through Obama’s (maybe) last term, but it could allow Hillary to skip Obama phones and instead go directly to Hillary Lamborghinis !
someone needs to ask this ‘man’ , point blank...
ARE YOU ON CRACK?!
Current services are not “bills.” Already borrowed money comprises the “bills” owed, and the US brings in far more than necessary every month to service that debt through normal tax revenue. It does not require us to borrow more money to service the debt.
That question should include the word, “again.”
I would like to up my credit line, even though I am overdrawn again and again.
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