We are out of money - President Obama

We are out of money - President Obama

drudgereport.com

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.

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Can you believe this? This is the audacity of liberalism.

Obama says we are out of money yet he wants 634 billion for health care.

Liberals create problems and then say they need billions to fix the problem. When will people learn that giovernment is a black hole that eats trillion of dollars?

We can not pay back all of this money that Bush and now Obama is spending.

In a global economy with cheap labor it's impossible.

Obama recently said the debt is unsustainable yet he keeps spending. He now says we are out of money and this is an excuse to borrow 634 billion dollars on top of the trillions they are already spending.

I believe Obama is putting in place a communist/socialist system so that system can take hold once the U.S. crashes. There's no way we can sustain this massive spending. Obama has to know this.

Obama is controlling advertising budgets of private companies. He's firing General Managers and controlling seats on the boards of private companies. This is not the job of a President. A President who never ran a lemonade stand shouldn't be cutting advertising budgets for private companies. Matter of fact it looks a little like fascism.

I can't believe American are okay with the Behemoth in Washington spending trillions of dollars and controlling private companies.

Not Good.

drudgereport.com
(visit the link for the full news article)

Already being discussed here.

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To add to your discussion, yes Obama is crazy. They can't be "out" of money since it never existed in the first place.

~Keeper

No Mr. President YOU are out of money!

If we lived in a nation where the People actually used their God given constitutionally guaranteed power over the government that is what we'd say to this president.

Stop his reckless spending, strip the power of this government to a more moderate balanced government.

It won't happen, and it's likely too late now to stop the fall if it did.

Damage is done, change is what we got... Deal with it!

I was under the impression that the U.S. has been out of money since Andrew Jackson died.

I don't exactly like this new administration, but I can't lay all blame on them. They are trying to do something so that our children will have something besides debt. It was already bad, in two or three years time we'll know if it's worse than bad.

reply to post by platosallegory


How are we out o money when its printed out of thin air anyway?

Where's the logic?

Originally posted by tothetenthpower
Already being discussed here.

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To add to your discussion, yes Obama is crazy. They can't be "out" of money since it never existed in the first place.

~Keeper

Your link isn't working. Get error message.

reply to post by platosallegory


Well while I am not denying that Obama deficit so far is beyond the ability of this nation to sustain, (he will be known as the most fiscal irresposibly president in history)you have to remember that 8 years of conservative with 6 years of Republican president and congress were the ones that started the deficit trend with two wars after the Clinton era that actually lowered the deficit, because he increased taxes.

When you live in a nation that taxes are the way to pay, and the sell of our debt to communists countries like China, for government expending while the industrial base is lost thanks to Clinton era bad policies of NAFTA, Free TRADE and WTO, you know that in order to support that deficit created by previous presidents is with more debt.

Obama failed miserably when it came to keep his promise of taking care of America first, because neither Clinton or Bush care much either.

Now our nation can not support itself and still all the government is doing is spending the reminding tax payer into oblivion while the work force keeps decreasing and so the taxable income.

OUr government has failed us.

reply to post by marg6043


Exactly,

That's why I said we can pay for the massive spending of Bush and now Obama.

The problem is government. Government is a behemoth and in a global economy with cheap labor we will switch to a consumer based economy.

This means people borrow and consume but the Government can't go on a spending spree. We have a 13 trillion GDP with 11 trillion dollars in debt.

Bush cut taxes and spent like crazy and now Obama is doing the same.

In a global economy with cheap labor we can't sustain this spending because we can't create the jobs needed to sustain the spending.

No...really? NO WAY!! We are OUT OF MONEY!?

No duh!!

Do you think we'd be out of money unless THEY wanted us to be? If THEY wanted to, they'd just print more money. No problem! Ours is a manufactured financial dillemma...

-- Applause from me FOR Obama --
What other President in modern history TOLD us the truth??

Take the insurance companies out of health care and maybe we will
get a handle on this economy, medicare and medicaid
are the largest payers, with insurance companies doing everything
in their power to NOT cover it's policy holders.
Wait till they can predict through gene therapy you future statistical
chances of becoming sick.They will only insure the rich and healthy!


Or maybe you think you local PRIVATE hospital isn't making enough,
renting their rooms, and all other services received there
charged separately.


GREED GREED!!!!!

reply to post by Ex


Trust me what Obama is not telling the people is that he while singing to the tune of socialized health care for all was having closed door meetings (remind me of bush and Cheney) with the big insurance companies and health care providers.

So much for keeping them far and away from the proposed universal health care, yes this littler tidbit wasn't even in the media, but CNBC let it out on Friday.



[edit on 23-5-2009 by marg6043]

This is the liberal M.O.

They create a problem and then say we need billions to fix it.

For years they have told us Social Security and Medicaire can't be touched as these programs ballooned.

Now they say because these programs are weighing down the economy we need 634 billion dollars to fix the problem and oh yeah, we are out of money.

This is liberalism.

so rather than blam the crisis on the people responsible, he and his administration have decided to lay the blame on the population via health care!
WHAT THE BLEEP!@?

pathetic excuse IMHO

reply to post by marg6043

I totally agree. This has nothing to do with being a conservative or a liberal. This is about spending money at record levels and not compensating for it in other places. Such as this:
www.guardian.co.uk...

When will we learn that Bush wasn't running nothing but his foul mouth and the exact same thing with Obama.

reply to post by kenton1234


No, only that but the squandering of money that has gone to the various projects under the non bid contracts.

Also remember the 9 billion that went missing in the beginning when the first US interim government was established?

I dare to say that during the two wars under Bush a trillion or more has gone missing in Iraq.

reply to post by marg6043
"I dare to say that during the two wars under Bush a trillion or more has gone missing in Iraq."

Oh at least. And remember when Nancy Pelosi was running for speaker telling her constituents and the American people that she would end funding for the war but what she did was not only give President Bush all the money he wanted but actually gave him more than he requested.
And now with Obama it's almost as if he wants to make sure he has spent more than Bush did during his regime. I can't believe it!

Until they sit back and take a deep breath and take some serious decisions then this will eventually be the dissection of the U.S.. Perhaps that has been the original planned from the 80's. Either way there will be some serious and lethal choices on how one is to kick start the economy. Hold on to your money as safe as you can and hope you can surf the wave thats coming into shore.

reply to post by kenton1234


I can not stand that Pelosi woman, she has not business in the position she is in the white house, she is nothing than another corporate butt kisser.



[edit on 23-5-2009 by marg6043]

reply to post by marg6043
"she is nothing than another corporate butt kisser."

Again I agree 100%. It's a true race to the bottom and it's just a matter of who takes us there first.