Skip to comments.Obama says trillion-dollar deficits may last years
Posted on 01/06/2009 10:29:05 AM PST by NormsRevenge
WASHINGTON President-elect Barack Obama says the nation probably faces huge deficits for years to come, but heavy spending is needed now to spur the economy.
.. "Potentially we've got trillion-dollar deficits for years to come, even with the economic recovery that we are working on."
(Excerpt) Read more at news.yahoo.com ...
Years to come? This is just crazy!
“but heavy spending is needed now to spur the economy”
NO, it most certainly DOES NOT!!!!! Obama speaks like a true socialist.
We need to CUT taxes and CUT spending!
All of a sudden, deficits aren’t the number one problem. Ridiculous. Obama is doing to destroy our economy (the Dems have already gotten us this far in the hole). The Jimmy Carter years will have nothing on the Obama years.
The good news is that Bush will fall to #2 on the list of out of control spenders in a short period of time. The other good news is that this will start to lead the way for a new Republican message of out of control government and spending.
What ails California and many states is the same as what ails the Federal Gubamint.
Cutting spending remains the 3rd Rail.
The latest dallying with a $500 “tax cut” is just whipped cream on a cow pie.
WE are ‘entitled’ to better than this.
The beatings will continue until morale improves.
CHANGE. (only thing remaining in your pocket)
I guess he figures 8 years at least. And if he can hire a few million more unionized federal workers, then the next president gets stuck with the bills.
Maybe he can merge the teachers’ union with the public employees’ union, and double their pay as he promised to do earlier, which he says is the best way out of this economic depression. Then he could hire a few million LGBT teachers to handle the pre-school kis and the kids who are thrown into the public schools after he gets through outlawing home teaching and private religious schools—with the sole exception of Sidwell Friends.
We had to burn this village down in order to save it.
“Obama says trillion-dollar deficits may last years” until we can get the deficit up to a Gajillion-dollars!
Plan A not working obama fails.
Because of 8 years of the failed economic policies of the Bush administration, President Obama will be forced to endure trillion dollar deficits during his entire administration. Bush's failed policies forced President Obama to spend more money to try to jump start the dead American economy that was a direct result of Bush and the Republican party's power and control over Washington for 8 years. The democrats will now seize control of the Congress and the White House in order to put the economy back on track. However, Americans will have to be prepared for a slow, difficult road back to American prosperity but that road will be made easier for you by the current administration's plan to pay your mortgage, food, insurance and gas bills. Because of Bush's failed economic policies, we are in trouble--but thanks to the Democrats and President Obama, you won't have to suffer. The government will take care of you...just send in your paycheck.
A trillion dollars a year can buy a lot of votes while continuing to sink the economy. This economic crisis is Democrat Nirvana.
Buy gold, silver and guns. Some freeze dried food, canned goods, and sacks of rice and flour might be a good idea also.
The problem is the political elite (both dems and reps now it seems) think we operate in a vacuum and they can embark on as much money printing as they want, without any consequence from the rest of the world. Ask Mugabe about his billion $ notes in Zimbabwe. Soon they will find out the fallacy of that logic, to the citizens detriment.
And the stock market tanks in 5, 4, 3, 2,...
“All of a sudden, deficits arent the number one problem.”
Are you sure? The “sudden” occurred when Bush pushed through his tax “cut” bill around 2002.
Deficits have consequences.
I don’t think Obama can get away with it. Only a fake conservative like Bush could get away with it.
He may be right, it could take years before it becomes Zillions!
He is saying that because he is already running for re-election. He wants to be in power for 8 years, heck, if he could change the Constitution he would never leave office
This information may come in handy sooner than we think.
In fact, he guarantees it.
“Potentially we’ve got trillion-dollar deficits for years to come, even with the economic recovery that we are working on.”
Nothing lasts forever unless it does.
Lol, have you seen the fast food commercial in which the guy is about to leave the latte maker a 75 cent tip and the guy behind him advises him that he can get extra meat or something for that change?
Lot's of folks are predicting the next bubble to burst...I say it's either lattes or theatre popcorn...
A Google is an internet search company with 100 billionaires. A googol is a 1 followed by 100 zeros.
It's definitely lattes.
Theatre popcorn is worth the money, as long as you get extra butter and load it with salt. ;^)
Clearly, “I know nothing!”
Sorry Obama I want the government to stop spending so much money and make cuts to eventually balance the budget by the end of your first term!
I guess I better go get a wheelbarrow then, since we will soon need one to carry enough cash to buy a loaf of bread.
Anybody have a calculator that can compute interest compounded daily on several trillion $$$ of debt for several years?
That must mean that a Googleplex is the company headquarters.
1- everytime nobama speaks markets will tank
2- i would be shorting long term gov bonds.
3- it is hard to imagine how saying things like this are helpful.
4- in 8 months people will be praying jimmy carter comes back with sane policies
Market is up past 9000
I take it 0bama sees no hope for change in deficit spending? Except for the worse.
Print more and more and more money.
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