Posted on 10/03/2013 4:21:51 PM PDT by SkyPilot
President Barack Obama warned Thursday that as bad as the government shutdown is, a failure to raise the debt ceiling would be even more damaging to the U.S. economy, and called on congressional Republicans to end their “irresponsibility” on both issues.
“As reckless as a government shutdown is … an economic shutdown that results from default would be dramatically worse,” Obama said on the morning of the third day of the government shutdown, at an event held at M. Luis Construction Company in the D.C. suburb of Rockville, Md.
The president had on Wednesday warned Wall Street that “this time’s different,” and that a default seems more likely than it has in past debt ceiling crises. On Thursday, he expanded his message to convey how a default would hit the entire economy.
(Also on POLITICO: Is a grand bargain only way out?)
“In a government shutdown, Social Security checks still go out on time. In an economic shutdown, if we don’t raise the debt ceiling, they don’t go out on time,” he said. “In a government shutdown, disability benefits still arrive on time. In an economic shutdown, they don’t.
“In a government shutdown, millions of Americans — not just federal workers — everybody faces real economic hardship. In an economic shutdown, falling pensions and home values, and rising interest rates on things like mortgages and student loans, all those things risk putting us back into a bad recession, which will affect this company and those workers and all of you,” he said.
Failing to raise the debt ceiling “would be the height of irresponsibility,” Obama said, rare anger coming through in his voice. “And that’s why I’ve said this before, I’m going to repeat it: there will be no negotiations over this."
(Excerpt) Read more at politico.com ...
I predicted Obama would do this. He's right on time.
The truth be told, however, is that many conservatives and card carrying Tea Party members will shout "We Are Broke!" from the rooftops, but when it comes to Social Security or Medicare, it is always: "But that's MY money!"
The big-eared Kenyan isn’t from this country.
I’ll be happy to return my SS checks.
“never let a contrived crisis go to waste”
It’s SUPER DUPER RECKLESS! 200% more recklessity!
The problem with Obama and his overgrown adolescent brethren is their reliance on superlatives. Everything is the worst, the least, the most, the best, the greatest, etc.
This Axelrodese Impresses the gullible like Obamaphone voters and Poli Sci PhDs but once you’ve broken the glass to get the fire extinguisher out you can’t pretend it’s still intact for the next big emergency.
Social Security is welfare just like the rest of it. And no, it isn’t their money. Their money got spend the minute the government took it.
Increasing the DEBT by 6 trillion dollars is the height of irresponsibility.
The dont he signs curtailing SS checks is also his death warrant
if one senior citizen dies of a heart attack because of this fearmongering, IT’S OBAMAS FAULT!
He has - he used it in 2011.
In fact, this news story capture is from 2011:
Obama and his advisers know that threatening SS checks affects millions of people - and not just hardened Democrats. There are many, many registered Republicans who collect Social Security, and he knows any threats to it get them very nervous.
The problem is that the Democrats (They have actually changed now and should be called Socialists) have decided that they will use all means to gain the advantage. It matters not whether it hurts the same folks that they (supposedly) represent. It is simply a means to an end, and the end seems to be Socialism for all.
We have come to a crossroads with one side wanting a Socialist outcome (like Sweden but on a grand scale) or worse some other socialist but non-democratic country to be named. If you really look at the Constitution, things have continued to spiral out of control from the Congress to the President to the Supreme Court. All seem to be discarding the Constitution. I’d guess that this must happen before you change really change the Government.
Yes, things look really dim for America at this point. We have elected (well not we) the most Progressive (Socialist) President in modern times and now we pay the price. Seems that way too many now want free things at the expense of those working for it. Once we pass the magical 50% margin, well, things WILL change.
Extremely glad that I won’t be around to see the demise but I do fear for my children. Time for more States and State areas succeeding and maybe even another revolution I’d think.
Our forefathers have given us a Constitutional Republic but it seems that we can NOT keep it.
Navigator to pilot, navigator to pilot, you are over the target, repeat, you are over the target.
Bozo’s damaged our credit rating once already.
Obama is a sadistic piece of crap.
I'm afraid not. With this big government shutdown in effect we might only be printing 50 billion dollars a month instead of 85 billion, but the magical appearing money is still pouring out of the Fed.
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