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...
Didn’t ZERO HUSSEIN already do that?? What else does one have to do in order to deficate on One’s Country?
Gosh - when I said that on 11/5, FReepers jumped down my throat - calling me nothing but a pessimist, and telling me the GOP would rise again.
At the very least, he is all of that. I found it quite curious (not) that there were virtually NO recounts after the election despite known massive voter fraud. This was a "fix", a coup, whatever.
I know, let’s raise taxes !!!
So make no mistake about it.... your “social security taxes” are no longer savings for retirement. They are for servicing the interest on our national debt... or soon will be.
______________
All businesses should give it to the employee, not the Federal government. How’s that?
At what point does it become treason?
________
That point was reached when Porklus passed.
Bingo.
The bastards replace D-Day with HC-Day.
Absolutely disgusting.
>>>Did you know September 11th is Serve America Day (as in perform free labor for the Fedgov), according to the recently-passed Edward M. Kennedy Serve America Act?<<<
9/11 is now Serve America Day?!
Oh for cryin’ out loud.
I say to celebrate this announcement we all increase our W-4 witholdings to 9.
Does a President really have this much power? I thought there was a check and balance system to safeguard this kind of tyrannical power
He sure does when he has the Senate & Congress. There is not one thing to stop him. Uggh !!!
“We are out of money” No doubt followed by “well it’s Bush’s fault but that’s not going to stop us from spending more.”
People keep saying here that he is dumb, ignorant, naive etc but he is evil. This is all part of the plan to wipe out the middle class and upper middle class along with working poor.
If anyone thinks he wants to “fix” the economy or wants things to get better then they are delusional.
Clinton worried about the economy because he wanted to stay in power. This guy thinks by destroying the economy he will gain more power and he may be right.
hell I just voted for him because he is black, I never ever in my mind thought he would actually be a commie, after all didn’t he work for acorn?
the balance & check disapeared with his birth certificate. He is the puppet of Ayers, Soros and the Clintons.
But he will never try to kiss this one: 
>>> Once we hit social security age we’ll be told to do the patriotic thing and drop dead. Medicare and social security problem solved.
I guess thats the general idea... as long as we are secure, there’s no social problems. Retirement age? whats that?
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