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Thread: 'we're out of money'

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    'we're out of money'

    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...
    DRUDGE REPORT: OBAMA SAYS 'WE'RE OUT OF MONEY' 2009®

    What???

    We're out of money now?

    So Liberals and Obama-naughts, what say you now. You elected the lefties to take over, and they promptly spent the country into bankruptcy.

    GOOD JOB!

    Bush and the GOP were irresponsible with their spending, the dems make them look like scrooges.

    Be ready for hyper-inflation folks.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: 'we're out of money'

    Quote Originally Posted by MrVicchio View Post
    DRUDGE REPORT: OBAMA SAYS 'WE'RE OUT OF MONEY' 2009®

    What???

    We're out of money now?

    So Liberals and Obama-naughts, what say you now. You elected the lefties to take over, and they promptly spent the country into bankruptcy.

    GOOD JOB!

    Bush and the GOP were irresponsible with their spending, the dems make them look like scrooges.

    Be ready for hyper-inflation folks.

    It seems like Obama is actually trying to address the problems rather than trying to sweep the dirt under the rug and putting expenses off the books.

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    Re: 'we're out of money'

    Quote Originally Posted by winston53660 View Post
    It seems like Obama is actually trying to address the problems rather than trying to sweep the dirt under the rug and putting expenses off the books.
    What? Obama is failing to do anything to improve the American situation. He has not helped the economy. The recession is deepening. So how is he facing the problems?

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    Re: 'we're out of money'

    Quote Originally Posted by Maxientius View Post
    What? Obama is failing to do anything to improve the American situation. He has not helped the economy. The recession is deepening. So how is he facing the problems?
    He is confronting the issues in a straight forward way. Like putting the actual costs of the Iraq war on the books unlike Bush did.

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    Re: 'we're out of money'

    Quote Originally Posted by winston53660 View Post
    It seems like Obama is actually trying to address the problems rather than trying to sweep the dirt under the rug and putting expenses off the books.
    Considering how much debt he's creating for the country, how do you figure he's addressing the problem?

    Looks to me like he IS the problem.

    Government takes in in revenue a couple trillion dollars a year. Raise taxes, lower taxes, the revenues still generally fall in a predictible band around that dollar amount.

    Government spending including service of existing debt should not exceed that figure. That is what is called in the private sector as a "balanced budget."

    Bush screwed up with undisciplined spending. Dear Leader continues that trend by abandoning any pretense of discipline and just spending, spending, and spending more. I guess he figures Helicopter Ben and the magic printing presses will save the day.

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    Re: 'we're out of money'

    Quote Originally Posted by winston53660 View Post
    He is confronting the issues in a straight forward way. Like putting the actual costs of the Iraq war on the books unlike Bush did.
    And he is aggravating the issue in a straightforward way. Like shoveling money he claims the US doesn't have to his Wall Street campaign contributors.

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    Re: 'we're out of money'

    Bankruptcy is looking like a better and better idea by the day. If this continues, you adults are going to see a huge brain drain to Europe, Asia, Canada, maybe Australia and parts of Africa when my generation becomes the main productive group. I'm thinking of just throwing a dart at Scandinavia if we hit a $25 trillion overall debt and moving wherever it lands.
    Quote Originally Posted by Korimyr the Rat
    Heh. Do you realize how many children I'd murder to be immortal and have an army of willing slaves?

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    Re: 'we're out of money'

    I know, I KNOW for a fect that in the next couple of posts, someone is going to say "But BUSH did it! Are you saying he is wrong! Bush did it too, you hypocrit". Before anyone does that, just remember, most of us in this thread were critical of Bush too. So please, bring some new arguements for why it is ok for Obama to spend like crazy?

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    Re: 'we're out of money'

    Quote Originally Posted by Edify_Always_In_All_Ways View Post
    Bankruptcy is looking like a better and better idea by the day. If this continues, you adults are going to see a huge brain drain to Europe, Asia, Canada, maybe Australia and parts of Africa when my generation becomes the main productive group. I'm thinking of just throwing a dart at Scandinavia if we hit a $25 trillion overall debt and moving wherever it lands.
    You see, that's what I am afraid of. The Brain drain. A bad economy is ok but, a brain drain? What happened to America? We used to be the intelligent country with our Thomas Edisons' and Bill Gates' and Einsteins. We are the greatest country on earth BECAUSE of people like these. What's going to happen when they leave? Even more, why would they leave? I fear that, I really do.

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    Re: 'we're out of money'

    Quote Originally Posted by winston53660 View Post
    He is confronting the issues in a straight forward way. Like putting the actual costs of the Iraq war on the books unlike Bush did.
    This has resulted in what that helps America?

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