Posted on 09/20/2013 6:24:42 PM PDT by markomalley
PRESIDENT OBAMA: If the world sees America not paying its bills, then they will not buy debt, Treasury bills from the United States, or if they do, they'll do it at much higher interest rates. That means somebody wanting to buy an F-150 will have to pay much higher interest rates eventually, which means you will sell less cars. That’s just one example of how profoundly destructive this could be. This is not some abstract thing.
And this is important: Raising the debt ceiling is not the same as approving more spending, any more than making your monthly payment adds to the total cost of your truck. You don’t say, well, I'm not going to pay my bill, my note for my truck because I'm going to save money. No, you're not saving money. You already bought the truck, right? You have to pay the bills. You're not saving money. You might have decided at the front end not to buy the truck, but once you've bought the truck you can't say you're saving money just by not paying the bills. Does that make sense?
(Excerpt) Read more at realclearpolitics.com ...
Does that make sense?
Nothing that communist-Islamis nitwit says makes sense.
Is this what the liberals like to call "Voodoo Economics"?
If it doesn’t cost a dime why raise it?
how can this man be such a fool and not impeached?
If it won't cost a dime, why raise it?
Freaking lunatic
He failed to mention
only in bizarro world.
So...paying your truck payment with a credit card makes PERFECT sense
Got it
is he even capable of saying anything truthful?
just wondering
Nobody in government has the gonads to do it, that’s why.
i mean, more than for maybe a sentence or two (when he is off teleprompter)
President Obama, let me use your credit card and while you’re at it raise the spending limit on it. It won’t cost “a dime”.
We're not paying our bills now -- to the tune of $85 billion per month that the Federal Reserve is "purchasing" in U.S. Treasury issues. It's called debt monetization.
Hey, Owe-bama, they already don't buy the debt. Ben "Inky" Bernanke at the Federal Reserve is creating money from nothing and buying the bonds at below market rates. Just look at how much rates jumped when Bernanke just hinted that he might want to create a little bit less miracle money and let the rest of the world buy the debt instead.
And this is important: Raising the debt ceiling is not the same as approving more spending, any more than making your monthly payment adds to the total cost of your truck. You don’t say, well, I'm not going to pay my bill, my note for my truck because I'm going to save money. No, you're not saving money. You already bought the truck, right? You have to pay the bills. You're not saving money. You might have decided at the front end not to buy the truck, but once you've bought the truck you can't say you're saving money just by not paying the bills. Does that make sense?
The problem is that you are looking to buy another new truck this month, two in October, a Corvette in November, and a BMW or two in December. If Congress takes away the credit card with "only" $17 trillion on it you might have to make do with the truck you have.
making a payment on your truck is just like raising the national debt !!
now i get it !
Hell!I need to increase the debt limit on my credit cards.Afterall it won’t cost me anything.If only I were the government.I wouldn’t have to pay my debts.
Obama is such an ass.
And imagine if government spending decreased. We would not need as much debt, and our ability to borrow would come at lower rates.
What a freakin’ nightmare.
Barack, you need to take a macro class. I know they can be tough, but you are the smartest man in the room. Piece of cake for you.
This clown went to 3 different colleges, but has no idea that spending money you do not have raises your debt.
You might even ask why the bills keep going up?
I agree this is not Obamas fault—congress spends a lot. What Obama should be doing is vetoing any increase.
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