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Joe Biden: 'We Have to Go Spend Money to Keep From Going Bankrupt'

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posted on Jul, 16 2009 @ 09:07 PM
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Joe Biden: 'We Have to Go Spend Money to Keep From Going Bankrupt'


(CNSNews.com) – Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money.

“And folks look, AARP knows and the people with me here today know, the president knows, and I know, that the status quo is simply not acceptable,” Biden said at the event on Thursday in Alexandria, Va. “It’s totally unacceptable. And it’s completely unsustainable. Even if we wanted to keep it the way we have it now. It can’t do it financially.”

“We’re going to go bankrupt as a nation,” Biden said.

“Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, that's what I’m telling you.” (Listen to Audio)


Isn't this just great, we have to spend money in order to keep from bankrupt, I doubt anybody really believed him when he said this, but you never know there might have been a few that bought it.

Well, I really don't know what more to say about this, other than
:bnghd:


Note to mods if this is already posted I apologize.




posted on Jul, 16 2009 @ 09:17 PM
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This administration's logic is baffling. Everything they do is baffling



It makes me want to believe the theories that Obama is intentionally running the country into the ground in order to allow for a NWO takeover.



posted on Jul, 16 2009 @ 09:21 PM
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reply to post by LiquidLight
 



This administration's logic is baffling. Everything they do is baffling



It makes me want to believe the theories that Obama is intentionally running the country into the ground in order to allow for a NWO takeover.


Baffling is a good word for it.

As far as your last statement they aren't doing a very good job of making people think differently that is for sure.

Thanks for your comment!


[edit on 16-7-2009 by Hastobemoretolife]



posted on Jul, 16 2009 @ 09:30 PM
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reply to post by Hastobemoretolife
 


If Joe Biden didn't already look like an idiot, well there you have it.

With the state that this country is in, I can imagine many people actually agreeing with him.

Astounding. I don't see how anyone could possibly believe that spending money is the way to get yourself out of debt, unless you've got another agenda in the mix.



posted on Jul, 16 2009 @ 09:32 PM
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Americans don't want to spend money because they are afraid.



posted on Jul, 16 2009 @ 09:36 PM
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Originally posted by LiquidLight
This administration's logic is baffling. Everything they do is baffling



It makes me want to believe the theories that Obama is intentionally running the country into the ground in order to allow for a NWO takeover.


Umm I'm pretty sure Obama is either deliberately screwing the nation as part of the NWO or he is an idiot who believes his own PR.



posted on Jul, 16 2009 @ 09:36 PM
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reply to post by undefy.gravity
 


You got that right, I really didn't think he was that bright to begin with, but this just takes the cake.

The sad part is I can see a few people agreeing with him, but I hope it isn't more than two.

We are in a some very interesting times.



posted on Jul, 16 2009 @ 09:39 PM
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Despite him sounding like an idiot at times, or most of the time, I'd take him any day over Dick "The Satan" Cheney


[edit on 16-7-2009 by ghaleon12]



posted on Jul, 16 2009 @ 09:41 PM
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this is news is spreading like wildfire all over the web
just saw it on drudge report amongst others




posted on Jul, 16 2009 @ 09:41 PM
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reply to post by Hastobemoretolife
 



Obama and co. dug a big hole.

Now they're saying if they don't fill it, we are all in trouble.

-sigh-

I think I just threw up a little bit in my mouth.



posted on Jul, 16 2009 @ 09:42 PM
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Can't believe I am about to defend this fart.

In a way biden is right. Let's leave bankruptcy out of it for now. This type of economy is not the time for government to cut back on spending.

They need to spend money in order to help create jobs to get the economy going again. That being said, the current spending IMO is not creating jobs. It is just a lot of wasted spending.

Kicking in healthcare and raising taxes in a bad economy is not going to create jobs.

Now you can insert bankrupt back in the picture.

IMO, Obama should have tackled the economy and job issues by itself rather than take on healthcare.



posted on Jul, 16 2009 @ 09:59 PM
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reply to post by jam321
 


I could understand that if this was a normal recession, as in if there was too much product to and the recession was just clearing out all the unnecessary product.

This one is a little different because the people ran out of money to buy the product. A lot of people were just way to far in debt and now we have started the process of debt deflation. That is why housing prices are sinking. When sub-prime rates adjusted people realized they really couldn't afford that 300,000 dollar home on an income of 30,000 dollars.

Also take in all the stupid de-regulation and over regulation that only catered to conglomerates and we are in a situation where no amount of spending is going to save us.



posted on Jul, 16 2009 @ 10:01 PM
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I will always agree with this administration.

I just find it so odd that individuals must ration and budget for every little thing.... you know, don't spend more than you have...

But this does not apply to governments. Just odd, that is all.



posted on Jul, 16 2009 @ 10:13 PM
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everytime this man opens his mouth i cringe. please muzzle him now

change and hope right

i just hope we can survive all this change



posted on Jul, 16 2009 @ 10:24 PM
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reply to post by Hastobemoretolife
 


Ha ha ha ha ha! I can no longer rant and rave at the machine. I can only laugh at this all, like I am some history student reading from 300 years from now at how ridiculous it all is at this present time.



posted on Jul, 16 2009 @ 10:26 PM
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I understand what he's trying to get across...the problem is his statement looks idiotic.

The deficits from Medicare that are on the horizon are unsustainable...something has to be done...which is why they are talking about spending to offset the cost.

That's really what he's trying to state....I don't think it will work because every plan that comes through the works is completely corrupted and is almost always in favor of the corporate elite....doesn't matter if it's Democrats or Republicans....they are both bought all the same.



posted on Jul, 16 2009 @ 10:32 PM
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Mmmmm.

Canned cat food.

I wonder how many impoverished people here in the States are eating cat food and dog food.

Thanks, current administration, and past administrations, and soon-to-be global administration.

Thanks a lot.



posted on Jul, 16 2009 @ 10:38 PM
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reply to post by David9176
 


I see what he is trying to say too, but as you mentioned it isn't going to work. This isn't a normal recession. This is a debt deflation scenario.

Usually in a recession as I mentioned up above companies produced to much product and the recession was just an over abundance of product.

This time people ran out of money to buy the product. They are trying to inflate another bubble that doesn't exist. Although that is what they are going to try to do with this Health Care and "Green" movement.

There really is no way to avoid the pain in a situation like this. There is way to much debt in the system and it has to go away.



posted on Jul, 16 2009 @ 10:46 PM
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Just a wee question,

If, in this type of economic mess, we start putting more money into the system, aren't we running the risk of a huge inflation-type crisis?

Isn't this like the whole "frying pan/fire" senario?



posted on Jul, 16 2009 @ 10:52 PM
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reply to post by mikerussellus
 


In my not so professional opinion I do believe so. It seems just about every state is facing budget over runs. The federal government has faced budget overruns for decades. It was just amount of time before it finally caught up.

There was a thread about how we are at 1.8% inflation already, spending more money is going to cause even higher inflation. Now I see what they are trying to do witch is inflate our way out of the debt, or trying to make it to where the debt is "cheaper".

Although I don't think it is going to work in the way they are intending for it to do because of the fact they are playing with fire, and if they don't stop the quantitative easing at the right time, we will be in "high" inflation.

So I don't know, we will see what happens it isn't looking good though.




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