Obama Says That Adding $4 Trillion Debt Will Strengthen The Economy

18 Responses to Obama Says That Adding $4 Trillion Debt Will Strengthen The Economy

1. Will Nitschke says:

   January 2, 2013 at 6:59 am

   The $4 trillion added to federal deficits over the next decade is not the issue. It’s the 16 trillion that is owed now, unfunded liabilities that could be as high as an order of magnitude greater, and the 1 trillion plus per year that the US government is burning through now. The rest of the world is not going to keep loaning the US that sort of money for much longer as it’s becoming increasingly obvious that there is no way that it can be paid back. It’s a dangerous game to be playing. If the bubble does burst, burst bubbles tend to deflate rather rapidly.

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   • Me says:

     January 2, 2013 at 7:14 am

     And you wonder why they are going after guns soo hard now.

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   • Bill Pounder says:

     January 2, 2013 at 9:32 am

     $4 trillion, $16 schmillion, that’s nothing, the biggie is the unfunded Social Security, Medicare, and federal employees’ future retirement benefits—already exceed $86.8 trillion, or 550% of GDP.
     http://online.wsj.com/article/SB10001424127887323353204578127374039087636.html
     For possible outcomes, see Argentina.

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2. Robertv says:

   January 2, 2013 at 8:21 am

   Is there anyone in the audience who expected another outcome.If by now you still trust these pathological liars , nobody can help you. As long as they can print dollars they can pay the bill.Your savings will be worthless but that’s the price to pay to have these people in power.Just hope winters will be short and warmer because under their plan energy prices will necessarily skyrocket (in dollars).

   http://ssheltonimages.com/img/3d/3d3/Corporate_Tax_Cuts_Screwing_States.jpg

   ‘Happy’ New Year

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   • Will Nitschke says:

     January 2, 2013 at 9:15 am

     Printing money is now the best outcome the US can hope for. Perhaps this won’t end in catastrophe but an incredibly dangerous game is being played right now.

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3. Andy OZ says:

   January 2, 2013 at 8:47 am

   We have the same disease here in Australia.
   Pathological liars in federal government who couldn’t organise a piss up (ie beer party) in a brewery!
   And the sad thing is you can’t escape these morons. They will hyperinflate until our money is worthless, tax us into the grave if we did save anything, and make it illegal to think or do or say anything independently. And spin it so that it sounds like they are doing a fantastic job.
   Linda Blair has nothing on the current government PR departments of Australia and the US.

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   • Ivan says:

     January 2, 2013 at 9:05 am

     Too true.
     And there’s no escape. Morons vote for morons.

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4. Ivan says:

   January 2, 2013 at 9:03 am

   “Obama: more work needed.”
   Ain’t that the literal truth.
   Some of us have been saying that for 4 years!

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5. Will Nitschke says:

   January 2, 2013 at 9:59 am

   It’s also interesting how the media narrative changes over time. I remember during the Reagan presidency the only thing the media wanted to talk about was government debt which at that time was around 50% of GDP. Now government debt is over 100% of GDP and the only thing the media wants to talk about is how critically important it is for the government to be allowed to spend more money.

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6. ralphcramdo says:

   January 2, 2013 at 11:08 am

   But…. but.. Obama said he would reduce the debt by 5 trillion if he was reelected!

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7. Andy DC says:

   January 2, 2013 at 11:30 am

   I am afraid the problems may now be impossible to fix without an insurrection of some kind. This is what happens after 30+ years of not cutting spending and not raising enough revenue to pay for all the spending. There is plenty of blame on both sides.

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8. tckev says:

   January 2, 2013 at 6:25 pm

   From the picture I guess nobody remembered to switch the Biden automaton on.

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9. Rosco says:

   January 2, 2013 at 9:04 pm

   I thought the “Fiscal Cliff” deal was the price Obama was forced to pay by the Republicans for agreement to raise the debt “ceiling” last time he ran out of money to pay the bills.

   Now the debt ceiling needs raising again and all of them panic over the last deal ??

   WTF is going on ? Apparently the only debt that matters is mine – everybody else seems to get a free pass.

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   • Will Nitschke says:

     January 2, 2013 at 11:44 pm

     Think of the money you owe as “stimulus”.

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10. peterh says:

    January 2, 2013 at 10:51 pm

    “There are two ways to conquer a nation…one is by war. The other is by debt.”

    John Adams

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11. Blade says:

    January 3, 2013 at 12:55 am

    Steve, you have got to see this story which is making the rounds in local newspapers up here …

    Putnam County officials, who say they will refuse a newspaper’s request to release the names and addresses of residents with pistol permits, would break state law by withholding the data, a state official said.

    The opinion, of state Committee on Open Government Executive Director Robert Freeman, came after an announcement Tuesday by state Sen. Greg Ball and two Putnam officials that they would refuse to release the data requested by The Journal News of White Plains, which sought the records under the state Freedom of Information Law.

    …

    Ball was firm in his position. “I’m proud to stand with Putnam County and proud that Putnam won’t be releasing its pistol permit records,” he said in a statement released by his spokesman. “The asinine editors at the Journal News have gone out of their way to place a virtual scarlet letter on law abiding firearm owners throughout the region and I thank God that Putnam County has a clerk with the guts to stand up and draw the line here in Putnam County. This is clearly a violation of privacy, and needs to be corrected immediately. The same elitist eggheads who use their editorial page to coddle terrorists and criminals are now treating law-abiding citizens like level-three sexual predators. Every person with common sense should be offended…”

    …

    Told of Freeman’s determination, Ball, in a statement, said, “The county clerk has my full support to protect these law abiding citizens and if The Journal News thinks they can intimidate Putnam, they are sorely mistaken. Before I waver, the egghead editors at the Journal News can kiss my white, Irish behind.”

    We got a new political hero in NY State.

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    • Blade says:

      January 3, 2013 at 1:02 am

      Oh man, I’m sorry. This was the wrong thread for this. Please delete at will.

      Reply
      • stevengoddard says:

        January 3, 2013 at 1:23 am

        That is fantastic news. Thanks.

        Reply