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'we're out of money'

Renae

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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.
 
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.
 
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.

:rofl 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?
:doh
 
:rofl 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?
:doh

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.
 
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.
 
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.
 
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.
 
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?
 
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.
 
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.

Did you catch that he's ready to spend another 1.5 Trillion to "fix healthcare"?

Or did that part get missed in your "He's putting the cost of the war on the books!" cheering?
 
We've been out of money for at least a month, did Obama finally look at the math? Well anyway here's to pain, suffering, death and the civil war that will insure when the dollar collapses. (i sure have a great outlook dont i)
 
Someone spent the $20 in my wallet? Son of a bitch.
 
Bush and the GOP were irresponsible with their spending, the dems make them look like scrooges.

You do know 'Scrooge' saved his money in the story. Bush was made to look like an over spender. Which is the COMPLETE opposite of a scrooge. On par with dictionary.com being a liberal tool though. :rofl
 
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.

Gee, Matt Drudge, how do you think we got there.

Hey, Matt Druge, when we were spending billions every month to look for non-existent WMDs, where was your outrage??

Hey, Matt Drudge, when huge tax cut were given to the super rich so they could invest in totally unregulated hedge funds... Why didn't you cry fowl??

But now, after 8 years of the worst administration in modern history, the only thing you can do is take something your President, President Obama, says wa-aaay out of context--that's thoughtful criticism??:doh

If that's the best you can do, if that's the only contribution to the dialouge you can make, then, matty, you're a sorry sack-o-partisan hackery.

Good-night.:2wave:
 
Gee, Matt Drudge, how do you think we got there.

Hey, Matt Druge, when we were spending billions every month to look for non-existent WMDs, where was your outrage??

Hey, Matt Drudge, when huge tax cut were given to the super rich so they could invest in totally unregulated hedge funds... Why didn't you cry fowl??

But now, after 8 years of the worst administration in modern history, the only thing you can do is take something your President, President Obama, says wa-aaay out of context--that's thoughtful criticism??:doh

If that's the best you can do, if that's the only contribution to the dialouge you can make, then, matty, you're a sorry sack-o-partisan hackery.

Good-night.:2wave:

This is about how Obama has driven us into a recession by not fixing the last 8 years within his first 100 days of being in office. Don't bring reality into the mix.
 
This is about how Obama has driven us into a recession by not fixing the last 8 years within his first 100 days of being in office. Don't bring reality into the mix.

Sorry...

I hate when I do that.:3oops:
 
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.

They spent the country into bankruptcy? What exactly has Obama spent since the inauguration that put this country into bankruptcy?
 
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The DEMOCRATS are so galactically stupid, we are doomed doomed doomed!!!!
 
The DEMOCRATS are so galactically stupid, we are doomed doomed doomed!!!!

If only the Republicans had 8 years of control to save this country from the viciousness of the Democratic led deficits like we saw in the Clinton-era.
 
If only the Republicans had 8 years of control to save this country from the viciousness of the Democratic led deficits like we saw in the Clinton-era.
The Republican Congress passed those budgets my friend, don't forget that. Democrats don't know how to balance ****.
 
The Republican Congress passed those budgets my friend, don't forget that. Democrats don't know how to balance ****.

You mean Clinton's Budget plan of 1993 that the Republican's lobbied and voted against and which only passed due to Gore's tie breaking vote? The same budget that led to the surplus of 1998 which was used to pay down the nations debt?
 
You mean Clinton's Budget plan of 1993 that the Republican's lobbied and voted against and which only passed due to Gore's tie breaking vote? The same budget that led to the surplus of 1998 which was used to pay down the nations debt?

The problem is that in each case the government was in control, because Republican and Democrat are wings of the same damn governement, so of course spending got out of control.
 
What he says..what he does.
article-
"We are operating in deep deficits, not caused by any decisions we've made on health care so far."

"We cannot continue debt to CHina"
"We are Broke"
"This is unsustainable"
"The BURDEN on the Kids!":thanks

vs

We must invest another trillion in hope health care.
Change our economic system into a quasi-socialist government happy meal face.
Clean Energy and "other" happy fuels...another 900 billion or so."
smoochie foreign policy

Notice Obama doesn't listen to himself?
Maybe he's a roboT.

Luckily "we" have alot of nukes.
 
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:rofl 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?
:doh

I think that we can say that Obama really is Bush 44. Or, to put it more accurately, Bush was Obama light. Bush only spent like a drunken sailor. Obama spends like a passed out one.
 
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