69,456,897
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Posted on 05/23/2009 1:48:21 PM PDT by jmaroneps37
In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: "We are out of money."
C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.
SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?
OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we've made on health care so far. This is a consequence of the crisis that we've seen and in fact our failure to make some good decisions on health care over the last several decades.
So we've got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it's putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.
So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don't reduce long-term health care inflation substantially, we can't get control of the deficit.
So, one option is just to do nothing. We say, well, it's too expensive for us to make some short-term investments in health care. We can't afford it. We've got this big deficit. Let's just keep the health care system that we've got now.
Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything...
SCULLY: When you see GM though as “Government Motors,” you're reaction?
OBAMA: Well, you know – look we are trying to help an auto industry that is going through a combination of bad decision making over many years and an unprecedented crisis or at least a crisis we haven't seen since the 1930's. And you know the economy is going to bounce back and we want to get out of the business of helping auto companies as quickly as we can. I have got more enough to do without that. In the same way that I want to get out of the business of helping banks, but we have to make some strategic decisions about strategic industries...
SCULLY: States like California in desperate financial situation, will you be forced to bail out the states?
OBAMA: No. I think that what you're seeing in states is that anytime you got a severe recession like this, as I said before, their demands on services are higher. So, they are sending more money out. At the same time, they're bringing less tax revenue in. And that's a painful adjustment, what we're going end up seeing is lot of states making very difficult choices there...
SCULLY: William Howard Taft served on the court after his presidency, would you have any interest in being on the Supreme Court?
OBAMA: You know, I am not sure that I could get through Senate confirmation...
Ha! Go out of the spotlight, are you kidding?
I know if at least 3 in my company that have been laid off...but I rather doubt they've been able to make the connection between their being let go and Obama...they weren't the sharpest tools in the shed.
Dude, where’s my economy!?
“So we have a short-term problem and we also have a long-term problem.”
Yes. Yes, we do. And it all started in Chicago when an unknown Marxist ‘Community Organizer’ said, “Yes, I Can!”
*SPIT*
69,456,897
More enough?
Well.....sho' nuff!
“No. I think that what you’re seeing in states is that anytime you got a severe recession like this, as I said before, their demands on services are higher. So, they are sending more money out. At the same time, they’re bringing less tax revenue in. And that’s a painful adjustment, what we’re going end up seeing is lot of states making very difficult choices there... “
Just another wonderful example of saying absolutely nothing that isn’t perfectly obvious to anyone with a modest collection of functioning neurons. For this and dozens more meaningless platitudes that come off the prompter, he’s the beneficiary of boundless adulation and thought of as “articulate” and “very smart”. He’s a complete nothing, except for the fact that his bizarre ideologies and the encouragement they give to the liberals currently in power are so profoundly dangerous.
“This is a consequence of the crisis that we’ve seen and in fact our failure to make some good decisions on health care over the last several decades.”
If Obamachev thinks that the large deficits are caused by health care, he’s certifiably insane.
Off the teleprompter, he’s like Nancy. Recites whatever canned talking point that pops into his head.
OBAMA: You know, I am not sure that I could get through Senate confirmation...
That is a VERY telling admission.
The problem is those of us who didn’t vote for the arrogant jerk are also getting what he dishes out.
I do not mean to insult morons or those who read out loud well.
I remember reading the students in his Law class complained that there was very little law taught — he preferred to talk politics or sports so doubt if he is qualified to be on the bench.
Thats Beautiful!!
If there was an obama-spicoli photoshop t-shirt with that on it, I'd buy it in a second!!!
It is all Bush’s fault.
I know a few too. So where does this leave MexiFornia? Teh taxpayers of CA smacked down the tax increases.
Now Obama may be sigaling there is no money after he gave it to his friends. This may be a scam for O to raise taxes but what does Arnuld do now?
My guess is they will never do anything about illegal aleins or offshore drilling for revenues.
A little Memorial Day reading: (Stimulus 101)
Print it out, send it to everyone you know.....where is the money...transparency?....Barney Frank knows some of it...I doubt even a South Side Chicagoan like Obama could have known that his stimulus would be stolen by others before he could nail it down to pork and payback....or maybe that is where it is...........
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