Posted on 05/23/2009 7:17:02 AM PDT by autumnraine
Edited on 05/23/2009 2:21:14 PM PDT by Admin Moderator. [history]
'WE'RE OUT OF MONEY'
Sat May 23 2009 10:32:18 ET
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...
Developing...
I think kids today call that look “emo”...
Like the two finalists on American Idle.
(don’t buy gold)
Absolutely, the gold owners are going to shocked when all gold is ‘nationalized’.
Broke ..No Sh*t A HOLE .Who did that I wonder.?
The US government has been overthrown folk ..Get it yet ? No , I doubt many really do .. See what happens next, I already know what happens next. Ask any Cuban who lived through the early Castro years what happens next.
Obama knows EXACTLY what he’s doing,don’t ever think differently. It’s text book Marxism .
We fools better revolt and revolt fast .
You left off the sarcasm tag. SS is a great system. You can pay into it for 50 years, die the day before you are supposed to start collection your benefits, and all you get is a small burial allowance.
Ding, ding, ding, give this man a ceegar! He has already declared we will have socialized health care by the end of the year. "Never wast a good crisis" to push your marxist agenda. Hey it works in Kenya where he is from.
Look at the bright side -at least we won’t have the illegal aliens issue anymore. We won’t have jobs or good health care to offer them. I am in NY we are now at the top of the list as the most Socialist state in the Union.
He knows exactly what he’s doing . Just watch my friend. You will wake up one morning soon and you’ll be in Soviet America.
( and I am not exaggerating here at all)
Remember my name and remember I told you.
Can someone do that big O graphic and out it in someone’s bent over butt?
“Mama sent me to store to buy a quart of milk”
btt
When you elect a totalitarian demagogue to be President and put into the majority in the legislative branch his totalitarian party you end up with situations like this. They have already own the judicial branch by carefully placing activist judges throughout the land so there is no help there.
This is why I urged people to vote for McCain even thought he is a RINO, at least there would have been some veto power there and it would have kept the Dems too busy trying to knock him off to do much damage. I doubt that McCain wold have gone along with the wholesale looting of the treasury complete with billions for "community activists" like ACORN. I doubt McCain would be defunding the military and kissing Amadinejad's butt, either.
Hindsight is 20/20 and I know alot of "moderates" who are having massive buyers remorse over voting for Obama. I told them exactly who and what Obama and the Democrats are and what they would do only to be called a "right wing nutjob" by them, now they are sheepishly admitting that I was right. When they ask me what I think is going to happen over the next four years I tell them, most of them go a sickly shade of green and look like they have been punched in a very sensitive spot.
I also know a few conservatives who are now beginning to see what I had been telling them would happen if they sat the election out is all coming true. They are having their own form of "buyers remorse". They know what is coming next and it is making them sick to their stomachs.
Perhaps he thinks he is some kind of American Pharoh.
Incredible.
I don't get it. Is he delusional?
Okay. Guess we’ll have to “shut down” the government. I wonder if any normal, taxpaying, traditional American families will notice?
Good post! It helps to keep me grounded when all I can see ahead is the wanton destruction of our Republic. All this by an ineligible foreigner who is buoyed in his efforts by people that have taken an oath to protect and defend - not destroy internally as they seem bent on doing.
“He’s just prepping the country for a massive tax increase that he had planned all along.” That’s exactly it. There is no other reason for him to say this after burying the country in massive debt it can never pay back.
What is increasingly nauseating is his constant blaming of the Bush administration for everything. He is starting to sound like a 6 year old blaming his little brother for everything. Cheney and others need to keep heaping on the criticism to get him to finally turn nasty in public. I can see the criticism is starting to wear him down. His public speeches are starting to take on an air of irritation.
He never had a real job, he probably never saved any money or balanced his checkbook. He was getting money from that Saudi billionaire and supposedly there are dozens of Barrack Obama SS numbers which his mother may have set up on dead people to scam Soc Security.
He has no clue except how to destroy America.
No, I don’t have a clue about economics.
It’s just a technicality. Come Tuesday Obama is going to order the printing presses to full speed ahead.
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