Barrack Obama: there is no debt crisis

[Svnla]

http://news.yahoo.com/president-obama-no-debt-crisis-135606679--abc-news-politics.html


Is he for real? Did he say this just a couple years ago?

The fact that we are here today to debate raising America 's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America 's debt weakens us domestically and internationally. Leadership means that, "the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

 

[rudder]

But...but...but bush.

 

[Jaskalas]

That's before debt became investments.

 

[blackangst1]

Ah yes. The 10.6T he was left was...unpatriotic...but the current 16.7T is not a problem.

 

[fskimospy]

He said there is no immediate debt crisis and he's right. Wouldn't you prefer him to be wrong then and right now as opposed to wrong both times?

 

[Theb]

Shamelessly stolen from another thread.

The debt is a problem, when the other party is in the oval office. What we need is a third party president, then everyone will care about the debt, or no one will.

 

[Incorruptible]

Once again obama proves what a piece of shit he is. He attacked bush and rightfully over the debt but now he changes his mind.

 

[ivwshane]

Once again obama proves what a piece of shit he is. He attacked bush and rightfully over the debt but now he changes his mind.

Bush didn't have one of the worst recessions happening under his watch (it started at the end of his term).

First priority is fixing the economy and getting jobs going, something the republicans once agreed with.

Second priority is the debt, something the republicans always seem to care about only when trying to stop anything the democrats are doing, otherwise "deficits don't matter".

Anyone who thinks gutting government spending at this point in time and in this economy is ignorant of history and economic theory. Sure government waste can be cut anytime and thats typically what Obama proposes but cutting programs because they don't jive with your ideology isn't the smart thing to do at this time.

 

[rudder]

Shamelessly stolen from another thread.

The debt is a problem, when the other party is in the oval office. What we need is a third party president, then everyone will care about the debt, or no one will.

If either party that is in the White House tries to actually do something about spending and debt....they will get voted out the next election. I mean when was the last time we have seen real spending cuts that weren't to be implemented way down the road... When a whole new group is in congress... Who then don't implement the cuts because they want to be re-elected.

 

[fskimospy]

Shamelessly stolen from another thread.

The debt is a problem, when the other party is in the oval office. What we need is a third party president, then everyone will care about the debt, or no one will.

as i noted in the other thread though, one of those two lines tracks with a coherent and thus far pretty damn accurate economic ideology. The other is totally incoherent.

 

[Anarchist420]

There will be a debt crisis if the u.s. govt doesn't quit spending on welfare and world empire.

Anyone who argues otherwise is dumber "than a George Bush coke-head retard"

 

[Gonad the Barbarian]

Obama's right.
https://www.nytimes.com/2013/03/11/...ng-deficit-disorder.html?ref=paulkrugman&_r=0

 

[Gonad the Barbarian]

as i noted in the other thread though, one of those two lines tracks with a coherent and thus far pretty damn accurate economic ideology. The other is totally incoherent.

It's not incoherent, it's exactly backwards.

 

[michal1980]

Obama's right.
https://www.nytimes.com/2013/03/11/...ng-deficit-disorder.html?ref=paulkrugman&_r=0

oh looky a krugman post. That guy is like MSNBC, nothing but a democratic shill.

There are, of course, longer-term fiscal issues: rising health costs and an aging population will put the budget under growing pressure over the course of the 2020s. But I have yet to see any coherent explanation of why these longer-run concerns should determine budget policy right now.

IE, lets bury our heads in the sand, and not worry about the future. Only when the debt is really killing us should we worry about it.

 

[Jhhnn]

If there were a debt crisis, Uncle Sam would be paying high interest rates, like Greece. But he's not- he's paying record low rates.

Righties seldom reference reality in the formulation of their opinions. When that's pointed out, as I just did, they just lock up in Denial. It's layered into their most cherished beliefs- it's the glue that provides the certainty they seem to crave. They don't seek the truth, they merely create an emotionally satisfying facsimile in their own minds.

 

[Jhhnn]

oh looky a krugman most. That guy is like MSNBC, nothing but a democratic shill.

Oh looky- pure denial & dittohead labeling. Rush should be proud.

 

[nehalem256]

as i noted in the other thread though, one of those two lines tracks with a coherent and thus far pretty damn accurate economic ideology. The other is totally incoherent.

I assume you mean the Republican one right?

Or are you suggesting it is rational to believe that bigger debt is less of a problem?

 

[michal1980]

Oh looky- pure denial & dittohead labeling. Rush should be proud.

the only one in denial is krugerman.

 

[michal1980]

If there were a debt crisis, Uncle Sam would be paying high interest rates, like Greece. But he's not- he's paying record low rates.

Righties seldom reference reality in the formulation of their opinions. When that's pointed out, as I just did, they just lock up in Denial. It's layered into their most cherished beliefs- it's the glue that provides the certainty they seem to crave. They don't seek the truth, they merely create an emotionally satisfying facsimile in their own minds.

because the insterest rates on debt go up gradually, and you have lots of warning when bad stuff happens.

oh wait, nope, Greece was humming along peacefully, until, well, it wasnt.

But like krugerman, lets just wait until that happens.

 

[Annisman*]

Bush started the massive spending, and Obama was happy enough to continue, and increase it. How this guy got re-elected is absolutely beyond anything I can possibly imagine. When our government needs a strong economical thinker making decisions more than anything, we send the food stamp guy back into office.

 

[Matt1970]

Oh looky- pure denial & dittohead labeling. Rush should be proud.

Over 25% of our budget is borrowed. Anyone who doesn't see that as a problem has thier head up their ass, including Krugman.

 

[Socio]

There will be a debt crisis if the u.s. govt doesn't quit spending on welfare and world empire.

Anyone who argues otherwise is dumber "than a George Bush coke-head retard"

The problem is they don't want to stop or even slow spending, look at the end of times tour Obama made about the sequester and the sequester is a minor cut compared to what needs to happen.

Can you imagine how insane the rhetoric will be if the necessary cuts were actually made?

I think it is so out of control and complicit on both sides that the only way this spiral is ever going to stop is a civil war where it is forced to at the end of a gun barrel.

 

[thraashman]

The problem is the title of the article isn't what the President said. The President's actual words were "We don't have an immediate crisis in terms of debt". That's a hell of a lot different than saying there is no crisis. The President's point being that if we fail to address it immediately, it won't end the world.

 

[Nintendesert]

Bush started the massive spending, and Obama was happy enough to continue, and increase it. How this guy got re-elected is absolutely beyond anything I can possibly imagine. When our government needs a strong economical thinker making decisions more than anything, we send the food stamp guy back into office.

The Republicans nominated another trash candidate. Romney joined a long line of trash like Dole and McCain.

 

[Annisman*]

The problem is the title of the article isn't what the President said. The President's actual words were "We don't have an immediate crisis in terms of debt". That's a hell of a lot different than saying there is no crisis. The President's point being that if we fail to address it immediately, it won't end the world.

The real problem is that everyone in a high political office seems to be saying that. It's a leave it for the next guy stance. Eventually the ceiling will collapse if we keep putting it off and belive it's not an immediate crisis.