Obama: Too much debt could fuel double-dip recession

reuters ^ | Wed Nov 18, 2009 7:20am EST | Caren Bohan

[Former Military Chick]

BEIJING (Reuters) - President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.

With the U.S. unemployment rate at 10.2 percent, Obama told Fox News his administration faces a delicate balance of trying to boost the economy and spur job creation while putting the economy on a path toward long-term deficit reduction.

[AlanGreenSpam]

Obama is psychotic: On the one hand he invokes huge expensive entitlement programs like Obummercare and on the other hand he says too much spending can cause a double-dip recession.

Perhaps he really IS evil...

[The_Victor]

The horse has been gone for weeks, we should hurry up and close that barn door.

[LomanBill]

Exactly.

Need a picture of Wiley with an ACME & Federal Reserve Inc. Perpetual Motion ATM Machine.

[<1/1,000,000th%]

“But tripling the debt would be OK,” Obama added.

[LomanBill]

[And that, ladies and gentlemen, is how the United States Government is conducting business today!
THANK YOU VERY MUCH!]

 

You forgot about the part where Guido, the "rich Tourist", demands 200% compounded vig from the hotel owner for the privilege of using the $100.

 

The Hotel owner then has no choice but to declare bancruptcy.

 

Guido then buys the hotel, rents the former owner a room, and pays the former owner only 80% of a living wage - the other 20% of which must be made up via credit purchases from Guido's "Company" Store....

 

Then one day Marty Sheen arives on a boat from down river and the following conversation transpires:

Guido: Are you an Asassin?
Marty:  I'm a soldier.
Guido: You're neither.  You're an errand boy sent by grocery clerks to collect a bill.

Photojournalist: Not with a bang but a whimper..... and with that, I'm effin outa here Jack.

 

Unfortunately, in a deleted seen, we see the Photojournalist is murdered by Marty's failed predessors before instituting his escape plan.... thus there is no record of what transpires next.....

 

{Que disembodied voice over radio.}

 

PBR Streetgang this is Almighty, over....

 

{Roll Credits }

 

The End.

[LomanBill]

Correction

>>deleted seen

should be “deleted scene”.

[schu]

The Chinese are soooo reliant on our consumers to maintain their mercantilism economy and have trillions in US government bonds in the vaults. Their message is to fix those things. They will continue to buy our debt, but their patience is not endless.

So they said to Bam ... fix this deficit thing so our holdings are not trashed and get those middle class folks to start shopping at Wall-Mart again or we have a big problem. We have 30 million men that cannot find a girlfriend and they are going to be a disaffected group pretty soon.

It is not pretty.

schu

[Ghost of Philip Marlowe]

We have to assume that he didn’t just learn this...you know, because he is the most intelligent person who ever walked this earth.

So we have to assume that he’s known this all along.

Thus we have only one conclusion:

That he is running up the deficit to INTENTIONALLY cause another recession, after supposedly fixing the first.

Or must we also assume that, since he knew a double-dip recession would be inevitable based upon HIS failed economic policies, that when he claimed to have brought us back from the brink that he WAS INTENTIONALLY LYING??

[PreciousLiberty]

Here’s a thread discussing an article that sees massive inflation right on the horizon:

http://www.freerepublic.com/focus/f-news/2389302/posts

Enjoy!

[Typical_Whitey]

Obama’s Split personality? Was he looking in the mirror when he made this remarkable statement? If not he should have been the defecit is his no matter how much he wants to blame Bush. The Bush bank bailouts were intended to be paid back by the banks so that money cannot truly be counted as defecit and treasury should demand it back from healthy banks that borrowed it.

[Psycho_Bunny]

Frickin’ jive turkey.

[The_Media_never_lie]

The one question I'd like to ask 0 in a town hall forum:

"Isn't burdening the unborn and very young with unborn with debt in unpayable quantities, very similar to slavery? Are our children and grandchildren not being sold right this minute into slavery?

[jim35]

“He’s signalling that he’s planning BIG TAX RAISES.”

Exactly, and he will say he’s been forced to raise taxes and blame it on Bush, blah, blah, blah....

[jim35]

“He’s signalling that he’s planning BIG TAX RAISES.”

Exactly, and he will say he’s been forced to raise taxes and blame it on Bush, blah, blah, blah....

[gathersnomoss]

Barry definitely has his priorities in order....Take down the ship.

[IrishPennant]

Would someone tell me how we would even want to get beyond a "single-dip" recession??? WTF??? A Double Dip? Is this "all wee wee'ed up man-child something we should tolerate any longer?

We need to frog march this SOB and the 534 or whatever MF's off the hill NOW. Good Lord!!!!

[JavaJumpy]

“And I thought Carter was bad.”

Saw a bumper sticker tonight with a similar thought! I keep waiting to hear the Goof Troop theme in all this.

[DugwayDuke]

Their real idea for deficiet reduction isn’t health although it will be pitched that way. Their real idea is Cap and Trade which result in huge tax increases. The only reason anyone is pushing global climate change is for the tax revenues it will bring in.