Posted on 05/11/2024 10:21:16 AM PDT by John Semmens
This week in an interview with CNN's Erin Burnett, President Biden dismissed the 30% rise in food prices since he took office, saying "people can afford it. Thanks to Bidenomics, they have the money to spend. I've personally canceled billions of dollars in student debt. We're putting newly arrived immigrants up in hotels and feeding them. We're subsidizing electric vehicles so drivers don't have to pay high gas prices. Most of us have credit cards, savings, or EBTs. Many of our cities have effectively legalized shoplifting items of less than a thousand dollars. There's no crisis. The Republicans are gas-lighting folks for political advantage."
"What about the trillions of dollars in outstanding debt?" Burnett asked. "How is that going to be repaid?"
"What most people don't understand is that it doesn't have to be paid off," Biden explained. "It can simply be refunded by issuing more debt which the Federal Reserve will buy by creating more money."
"Perhaps that will suffice for the federal government's debt, but what about the $17 trillion in household debt?" Burnett wondered. "Who is going to pay off this debt?"
"Look, debt is just a piece of paper indicating who owes money to who," Biden pointed out. "If the debt isn't paid the assets securing the debt are merely transferred to someone else. If you file for bankruptcy you don't have to pay your debts. If they foreclose on your home many cities are offering improved shelters for the homeless. You could also try squatting in a deserted house. That's been a growing trend for dealing with the housing problem. There are also charities that provide free meals. The notion that things are bad and getting worse fails to mention all the avenues of escape that I've just listed. We mustn't let fear mongering scare voters into electing Republicans in November."
If you missed any of the other Semi-News/Semi-Satire posts you can find them at...
https://www.gopbriefingroom.com/index.php/topic,531587.0.html
I’m dismissing Jo burden.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.