Posted on 11/18/2009 5:04:11 AM PST by 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.
(Excerpt) Read more at reuters.com ...
Last we heard you’re president Obama. Do something about it, instead of voting present on the issue and piling even more debt
big tax raises... Yeah! that will jumpstart the economy and create jobs!
/sarc
wow, just wow.
And I thought Carter was bad.
The guy who spent a trillion dollars in his first month in office is warning about debt, while pushing his healthcare boondoggle? This dude is truly schizo.
” increase taxes and decrease services. Smoke and mirrors “
He’s already taxed the ‘smoke’ — I guess ‘mirrors’ are next..... ;)
“He’s just setting somebody else up to take the blame when it happens.”
You beat me to it. We can’t say he didn’t warn us.
Yeah, it is. My husband is an accountant. What we have now is unsustainable. We're in another bubble already, and it's going to explode.
I get the sense from him that he’s treating this issue from arm’s length. As if, its not his responsibility and he’s raising the issue so that someone will do something about it
China must think the entire U.S. is retarded for voting for him.
Not the entire US but well over 50% of those over eighteen.
But then the alternative offered (by the political cabal, the CFR) was John McCain.
There are a few not playing their game, e.g. Sarah Palin, Ron Paul, but they are and will be shutdown when getting traction.
He’s just NOW coming to that conclusion...sheesh..talk about a day late and a dollar short...
It’s a slow day in a little town in east Texas. The sun is beating down, and the streets are deserted. Times are tough, everybody’s in debt, and living on credit.
On this particular day a rich tourist from up north is driving through town. He stops at the motel and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs in order to pick one to spend the night.
As soon as the man walks upstairs, the owner grabs the bill and runs next door to pay his debt to the butcher. The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.
The pig farmer takes the $100 and heads off to pay his bill at the feed store.
The guy at the Farmer’s Co-op takes the $100 and runs to pay his debt to the local prostitute, who has also been facing hard times and has had to offer her “services” on credit.
The hooker rushes to the hotel and pays off her room bill with the hotel owner.
The hotel proprietor then places the $100 bill back on the counter so the rich traveler won’t suspect anything.
At that moment the traveler comes down the stairs, picks up the $100 bill, states that the rooms aren’t satisfactory, pockets the money, and leaves town.
No one produced anything. No one earned anything. However, the whole town is now out of debt and looks to the future with a lot more optimism.
And that, ladies and gentlemen, is how the United States Government is conducting business today!
THANK YOU VERY MUCH!
Deficits are going to be his excuse for not sending more troops to Afghanistan.
Increased taxes will also lead to more recession. Stop Health Care, Cap n Trade, end of Bush tax cuts, VAT, fees, and all other revenue enhancements.
Then you’ll get jobs.
At 10.2 and rising, more unemployment will follow increased business costs (taxes) as they further tighten their belts. Also, it will forestall any hiring. It’s a vicious cycle, and it takes a Reaganite or a John Kennedy Democrat to see it.
As many have said, Obama is still in campaign mode.
He thinks that because this interview is on Fox that he needs to talk more conservatively to woo the viewers into supporting him.
I'm sure if the interview was with MSNBC, he would be talking about additional taxes on the rich and how the healthcare bill is a good start toward socialized medicine.
Obama seems unaware that anyone paying the least amount of attention can see through his words.
HE broke it - "big time", by spending HIS way. The only way out now is massive inflation. The money has to get back into the private sector somehow. The government doesn't have it. I think Oboma went to China to plead for more money, but my guess is he didn't get it.
He Barracked us - royally. We're not going to be able to walk for decades.
Everyone seems to be missing a few things about this statement from Obama. He never admitted in any way shape or form that he and his administration tried to lie with the enployment jobless rate numbers to make everything LOOK peachy.
So DUH at double dip recession. But even this is a lie because we never dipped out of it... really.
How long are they going to use parse words? Are we going to be in a quadruple dipped recession in a few weeks? Or will he ever just say his actions will put us in a full depression?
He was just beotch slapped by China and told what a failure he is.
His global climate NWO has been postponed so HE HAS TO ATLEAST MAKE IT LOOK LIKE HE GIVES A DAMN About our economy until then.
His idea of reducing the debt is increasing taxes.
WTF is this guy on?
He’s ABSOLUTELY CORRECT, yet his policies are the complete opposite of this. He’s either completely delusional, or he wants America to fall...or both, I’m not sure which...
I cannot WAIT until this idiot is out of office. I guess if his goal is to make Jimmy Carter look like a good President, then he’s well on his way to his goal.
I have an 8yr old nephew who does the same thing. Shows how emotionally immature the man is.....
He’s either the biggest sociopathic liar since Stalin or he’s an empty suit who just mouths the words on his teleprompter. He warns against adding to the debt? Who was the guy who voted for TARP, Porkulus, and submitted a budget with built in spending at twice the rate of anticipated revenue?
He’s added more to the debt than any other president, in only one term. And he warns against it?
I cannot believe Americans elected this man.
Does he even listen to what he says? He is totally disconnected from what he says to what he does. I'm beginning to believe he is more mentally ill than just having narcissistic personality disorder.
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