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...
Yeah, you're probably right.... but for you to be right it would mean that we've got the most corrupt, evil, and psychologically twisted President in the history of this country.
In my line of work Obama's actions can only be characterized two ways, fraud or error. So he's either really immature and ignorant, or he's the biggest fraud in the world. Take your pick.
Of coarse, his supporters view him as a genius... his actions being so high minded that its futile for normal people to try and apply reason or fact to... lol!
Well, in California we told them to stop spending, in a resounding defeat of the Props. Let’s make sure Obama gets the message.
Perhaps next time he will back up and drop his pants?
So Obama is now using multi-level-marketing to his advantage.
For a while I’ve wondered if Obama is crazy or crazy like a fox.
Now I am convinced that he is simply as dumb as a rock.
RIP, America. I suspect his stupidity will be terminal.
The man is out to destroy this country so he can come on with his wonderful change---only imagine--unemployment,deficits, inflation or stagflation, skyrocketing utilities, skyrocketing taxes, dwindling health care, new holding pens for dangerous conservative citizens and vets, dangerous little tin cans on wheels for us sheeple, and other like goodies as far as the eye can see in the future. How utterly splendid!!!
Did I leave anything out?
vaudine
No, you didn’t. I couldn’t have said it better.
We’re getting government by college bull-session. I couldn’t have imagined that anybody could make the Carter presidency, which essentially gave us the radical Islam issues of today, look good by comparison.
They came for my gold but all I had was lead. So I gave them lead - at 3200 feet per second.
Bingo!....CYA is their modus operandi. What other reason would they have for being rolling over and playing dead?
Bastards all.
And there’s still that “6 month test” (international crisis) to come that Biden warned us about when he said to “gird our loins”. How much worse does this get before we hit bottom?
True! But, if I were Rush (or any other wealthy conservative) I'd be pretty nervous about Fedzilla looting my wealth in the name of "fairness".
“I live in Los Angeles which is in debt, which is in Los Angeles County which is in debt, which is in California which is in debt, which is in the USA which is in debt.”
It’s incredible how we got to this point.
don’y u mean deport them???
Rationing is the only way to contain costs. And that will be difficult politically. The USG always underestimates the costs of these programs by huge amounts. We are going to add another 135 million people in the next 40 years, 75% due to our pro-population growth immigration policies that bring in 1.2 million LEGAL immigrants a year, most of whom are poor and undeducated. And right now we are bringing in 138,000 LEGAL foreign workers a MONTH in the midst of this economic downturn and rising unemployment.
Nope, I think he's a puppet. And his ignorance and immaturity allow him to be controlled. Error not fraud. But I could be wrong... only time will tell.
So we comsume 25% of the world's oil according to the Admin.--so what? We are going to commit suicide as a nation if we follow the ecos, and for what? So emerging nations can surpass us in gas consumption, military might, economy, etc. and for what? To pander to the arrogance of half-ass, no-brain idiots who hate the US, but get a tingle up their leg when the Obamessiah lifts his chin and clips out the words fed him by the teleprompter.
What I want to know is who in heck is the mind behind the teleprompter--i.e. the Wizard of Oz?
vaudine
Obama is a genius who knows the way to rid us of the problem we have no money is to spend even more money we haven’t got./s
He is an idiot. He thinks that the reason the US is out of money is because the government hasn’t taken over health care.
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