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Obama Speaks On Debt... Again

Tyler Durden's picture




 

It must be one of those days when America needs some more scaremongering. Sure enough...

 

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Fri, 07/15/2011 - 11:55 | 1459721 HungrySeagull
HungrySeagull's picture

5 PM today. Eastern.

 

I get the shivers and goosebumps in me old body.

Fri, 07/15/2011 - 12:24 | 1459817 Threeggg
Threeggg's picture

Same scenario Hungry sea as they attempt to paint a chart for the "Chartist's"

It's Technical............LOL

Fri, 07/15/2011 - 12:14 | 1459784 Threeggg
Threeggg's picture

The Dow will get crushed at that time to.

I see the algo's trying to correlate (an Illusion) the fall in PM's with a fall in the Dow.

So, I call the Dow gets crushed from 12:10PM through 12:30PM and then a recovery after the Comex close.

I see them ramping it up (Dow) right now in anticipation of the epic WAR today.

we will see ????????

Welcome to the grand Illusion

Fri, 07/15/2011 - 11:15 | 1459434 Hedgetard55
Hedgetard55's picture

Can't listen to the DOTUS.

Fri, 07/15/2011 - 11:16 | 1459435 Bansters-in-my-...
Bansters-in-my- feces's picture

Hey...!

I got an idea Obuma....

Maybe cut the pentagons budget.???

Maybe the USA should stop trying to rule the world and takecare of it's own problems,not create problems for others.

WAKE THE FUCK UP...!

Cut the Military budget.DO YOU'S HAVE TO RULE THE WORLD.???

How many military instalations does the USA have around the world.??????

WAY too fucking many.....

Fri, 07/15/2011 - 11:46 | 1459649 Dr. Richard Head
Dr. Richard Head's picture

But, but, but.....we have to protect the American people by occupying the world.  They hate us for our freedom to be touched by government agents at the airport.  They hate us for the freedom to vote in one side of the a two-faced coin.  They hate us for our freedom to ingest whatever we want into our bodies.  They hate us for our freedom to watch pravda all day long.  They hate us and we need to bomb every country in the world because of their hatred of our freedom.

Now go shopping on your credit card, get a GM car with $0 down, go buy two homes and grab a HELOC, and buy some new internet IPOs; otherwise Bin Laden will rise from the dead and blow up the Sears tower this time. /sarc

Fri, 07/15/2011 - 11:57 | 1459732 HungrySeagull
HungrySeagull's picture

Credit card is choked to the max, the GM cars are finally caught up and the HELOC can wait until armageddon and there will be no more IPO's and Bin Laden will stay in Davy Jone's locker to provide meat to the fishies. The Sears Corperation has been rotting for years now.

No need to take any action. Just wait, be at peace grasshopper. All things will resolve given enough time.

Fri, 07/15/2011 - 11:55 | 1459724 V in PA
V in PA's picture

We are in 150 of the 195 Countries of the world.

http://siadapp.dmdc.osd.mil/personnel/MILITARY/history/hst0712.pdf

 

Fri, 07/15/2011 - 12:05 | 1459776 gwar5
gwar5's picture

A Strong global US military is needed to defend the world against those countries who refuse to accept USDs.  

Fri, 07/15/2011 - 12:11 | 1459818 V in PA
V in PA's picture

+ $1

Fri, 07/15/2011 - 11:17 | 1459443 caerus
caerus's picture

let them eat layer cake!

Fri, 07/15/2011 - 11:17 | 1459448 Atomizer
Atomizer's picture

GTFO 2012

Fri, 07/15/2011 - 11:47 | 1459661 magis00
Fri, 07/15/2011 - 11:18 | 1459451 Rainman
Rainman's picture

The Great Windbag is an outstanding punter, worthy of a starting spot on a Big Ten team. His blabbering is a cover for decision avoidance....same as when he was in the Senate. Carry on...observe and criticize the ideas of others.

Throwing live grenades sure beats catching them.

Fri, 07/15/2011 - 11:19 | 1459461 overmedicatedun...
overmedicatedundersexed's picture

VP biden is soo worried about the debt limit he got out of town  today to watch soccer match in europe..priorities are this adm strong suit.

obuma got the golf culbs warmed up??

Fri, 07/15/2011 - 12:56 | 1460010 DosZap
DosZap's picture

That's cheap compared to the Kenyans Birthday Bash, @$38.500.00 per guest..............on your dime.

No worries mate, just a few minor adjusments, it will alll come out in de wash.

Fri, 07/15/2011 - 13:36 | 1460157 HungrySeagull
HungrySeagull's picture

VP Blabbermouth will do well to stay out of town for now. There is just too much at risk when he speaks of things that only Adults know.

Fri, 07/15/2011 - 11:20 | 1459466 zorba THE GREEK
zorba THE GREEK's picture

 Obama tired of peas, now he wants layer cake.Playing golf must make him hungry.

Fri, 07/15/2011 - 11:20 | 1459467 mt paul
mt paul's picture

more peas 

bytches...

Fri, 07/15/2011 - 11:23 | 1459471 caerus
caerus's picture

the American people are sold! To the highest bidder!

Fri, 07/15/2011 - 11:22 | 1459475 r101958
r101958's picture

'the American people are sold on a balanced approach, revenues and reductions' ......unmitigated BS! REDUCE SPENDING, NO NEW TAXES!

Fri, 07/15/2011 - 11:28 | 1459477 Threeggg
Threeggg's picture

Obama:................so with that I will take some questions........ah........let me see.... who is on the list..............?

 

WTF !!!!!!!!!!!!!!!!!!!!!!!!!

canned fluff !

Fri, 07/15/2011 - 11:23 | 1459478 THE DORK OF CORK
THE DORK OF CORK's picture

Gasoline taxes need to rise dramatically in the States but is politically impossible - so they will create more currency and use this more politically expedient mechanism.

Fri, 07/15/2011 - 11:24 | 1459496 r101958
r101958's picture

Yes, this is one tax I agree needs to rise. I wouldn't like it, but it is needed.

Fri, 07/15/2011 - 11:35 | 1459576 THE DORK OF CORK
THE DORK OF CORK's picture

The problem is when congress creates more dollars yee effectually tax everyone outside the States as your domestic dollars are a asset.

Imperial taxes are a bitch - many of us can't take much more of this shit.

 

Fri, 07/15/2011 - 13:04 | 1460034 DosZap
DosZap's picture

Over ) $0.50 cents is already on each gallon..............

Payroll taxes would be far preferred.IMHO

Or both,up gas to $5.00 a gallon, and make sure the taxes get spent on reduction.

But before either, instead of creating multiples of new Federal Agencies, we should fist SHUT DOWN 50% of what we have, and defund to a large degree others.

You cannot ever convince me we need the HUGE TSA(growing like a cancer), nor the Dept of Homeland Security.( even worse)

When Fed agencies have no real threats, they create them, to keep their funding.Hegelian Dialectics.

Waco is a prime example.

Fri, 07/15/2011 - 11:36 | 1459582 SoNH80
SoNH80's picture

!  In case you haven't noticed, higher gasoline prices don't exactly act as a tonic for the U.S. economy.  My own prescription is cutting spending on idiotic undeclared wars, but I suppose that hasn't occured to anyone in Warshington.....

Fri, 07/15/2011 - 11:48 | 1459673 THE DORK OF CORK
THE DORK OF CORK's picture

Tonics in general don't taste very good - this is not about saving the US economy - it does not exist in any real sense , the rest of the world services this black hole.

You don't produce much but expect tribute - the system is beyond unsustainable but I guess it will continue at the point of a gun.

Yee are just a giant Ireland with a reserve currency.

Fri, 07/15/2011 - 11:59 | 1459746 SoNH80
SoNH80's picture

You are precisely correct about that, my point is that the cure is CUTTING SPENDING, not increasing taxes on the hard-pressed U.S. taxpayer.  No more pith-helmet adventures in 4th-world crapholes, no more "space program", no more bridges to nowhere, no more "farm programs" where we pay people to convert food into motor fuel, or other stupid waste, no more "grants" to special interests.  That would be a start.  If we had a balanced budget in 2012, we would have a fighting chance to get things squared away.  But-- there will not be a balanced budget in 2012, or 2013, or 2014..... even if gasoline taxes went up to $6.  Sorry, our political class is IGNORING the will of the U.S. people, has for years, and small nations like Ireland are what D.C. jerks term "collateral damage."

Fri, 07/15/2011 - 12:22 | 1459847 THE DORK OF CORK
THE DORK OF CORK's picture

When Goverment or private investment has a goal , schedule & respectable budget it can achieve great things.

Project Apollo is the finest example of this - its budget peaked at just under 6 billion in 1966 but achieved great technological & scientific leaps.

There is no point in saving money if the new surplus is wasted - you are looking at only one side of the equation.

The Hoover dam to Apollo era was the greatest period of growth in the history of America.

Fri, 07/15/2011 - 12:27 | 1459887 SoNH80
SoNH80's picture

The Fifties (post-1952) were the real deal. Good old Ike building the Interstate Highway System, while keeping military spending under control. The Sixties?  A Vietnam War-fueled inflationary/deficit spree that resulted in the ugly Seventies hangover.  You seem to subscribe to East Asian theories of demand management, no, economic management, that I strongly disagree with, but you are informed, so I will close with a respectful "we'll agree to disagree" and leave it at that.  Remember, look back at the Vietnam War, it really got the ball rolling on a LOT of bad shyte in the United States.... and, by extension, the world at large.... 

Fri, 07/15/2011 - 13:09 | 1460048 DosZap
DosZap's picture

NASA and the Space Program were boondoggles, and a waste of Trillions.

Fri, 07/15/2011 - 13:35 | 1460112 THE DORK OF CORK
THE DORK OF CORK's picture

When Nixon robbed NASA of its goal it became a Boondoggle - not before , it was one of the best investment returns of the 1960s.

It was Nam that created a Dollar default, not Apollo - it was a order of magnitude higher cost and increased Americas defecit dramatically.

Apollo did not increase your defecit  - it reduced it .

Exporting vast amounts of high explosive and paying Vietnamese rather then Houston prostitutes does that sort of thing.

www.youtube.com/watch?v=Hch3HL8gPTk

 

Fri, 07/15/2011 - 12:22 | 1459863 Shell Game
Shell Game's picture

Loss of Reserve Currency status Tax, coming soon to a broken states of America near you..

Fri, 07/15/2011 - 13:12 | 1460064 DosZap
DosZap's picture

Shell Game,

Let's all move to the independent NEVER been a state North Dakota.

A Soverign nation, within the USA.

NOT kidding...............they were never a legalized  state.

North Dakota folks, KEEP it that way.....start your own military, and armed forces.

Be Soverign.................

Fri, 07/15/2011 - 13:06 | 1460041 DosZap
DosZap's picture

With a 60% taxed citizenry.................and a corrupt Gv't asking /taking more.

How much better can it be Irish?.

Fri, 07/15/2011 - 13:40 | 1460171 THE DORK OF CORK
THE DORK OF CORK's picture

I have been on these pages for over a year & half expressing how fucked up Ireland is  - that is not the point of this particular discussion.

If you don't like what I think of how Fucked up America is fair enough - but stick to the fucking point.

Fri, 07/15/2011 - 11:50 | 1459686 Thisson
Thisson's picture

The Keynesian clowns won't cut spending because it's against their religion: cutting Government Spending ("G") lowers GDP (C+I+G+X).

The idiots dont realize that cutting G increases C (private consumption) and I (Investment).

Fri, 07/15/2011 - 11:56 | 1459726 THE DORK OF CORK
THE DORK OF CORK's picture

To be honest I think there's too much private consumption in America - most of it is extremely non productive.

Productive investment does not care if it  is goverment or private - it just cares if it is productive.

Fri, 07/15/2011 - 11:59 | 1459742 AnAnonymous
AnAnonymous's picture

Productive investment does not care if it  is goverment or private - it just cares if it is productive.

 

Right but to be fair, in the US citizens'mind, when stuff is done by the private sectors, it is cool and nice. When the same is done by the government, it is bad and nasty so...

Fri, 07/15/2011 - 12:08 | 1459801 SoNH80
SoNH80's picture

Yes, because U.S. citizens are not followers of Marxism-Leninism-Mao Zedong-Deng Xiaoping-Jiang Zhemin-Wen Jibao Theory and/or Thought.

Fri, 07/15/2011 - 12:06 | 1459788 SoNH80
SoNH80's picture

Precisely.  Dumping a whole sack of fertilizer on a plant kills the plant!  A grotesque Keynesian/Byzantine regulatory super-state kills the animal spirits of a free-enterprise economy!  A little government intervention (transportation infrastructure, police/military, basic health/safety regs, free K-12 education) goes a long way.... but too much kills the golden goose of private sector investment.

Fri, 07/15/2011 - 12:18 | 1459848 SoNH80
SoNH80's picture

And just to be clear--- the TBTF banks, with their "dark pools" and "POMOS" and "MOMOS" and "MOFOS" wouldn't exist today but for said grotesque Keynesian-Byzantine super-state.  We'd be FREE of them, and just like in Sweden, if done right, the sky wouldn't fall.  Oh well, so much for The Republic.....

Fri, 07/15/2011 - 13:36 | 1459927 THE DORK OF CORK
THE DORK OF CORK's picture

You are living in a vast delusional petro-currency bubble - private enterprise cannot operate effectively  withen the economic jungle when all those big Utility trees have been cut down to express a short term profit on some financial statement.

Fri, 07/15/2011 - 11:22 | 1459479 I am Jobe
I am Jobe's picture

Maybe he needs another vacation and another speech.

Fri, 07/15/2011 - 11:22 | 1459480 Eireann go Brach
Eireann go Brach's picture

The Poor Kenyan has aged about 20 years since he entered the White House!

Fri, 07/15/2011 - 11:50 | 1459687 pods
pods's picture

Between Michelle and the newports I can see why.

pods

Fri, 07/15/2011 - 11:23 | 1459490 Bay of Pigs
Bay of Pigs's picture

Credible plan? Responsible choices? Sensible solutions? Reasonable compromise?

Come on. Tell the truth for once in your life.

He is so full of shit it's coming out his ears... 

 

Fri, 07/15/2011 - 11:24 | 1459491 speconomist
speconomist's picture

We are not Greece, we are not Portugal!

Fri, 07/15/2011 - 11:30 | 1459537 walküre
walküre's picture

Did he actually say that?

Fri, 07/15/2011 - 11:38 | 1459597 speconomist
speconomist's picture

Yes, he did.

 

Found it veeery funny to be honest.

Fri, 07/15/2011 - 11:41 | 1459620 walküre
walküre's picture

Wow! How dumb can he be?

 

Fri, 07/15/2011 - 11:59 | 1459741 HungrySeagull
HungrySeagull's picture

The screams of the one who is inclined to be prideful just before the fall.

Fri, 07/15/2011 - 11:23 | 1459493 sabra1
sabra1's picture

old chinese proverb:

if at first you do not succeed,

would it not be wise to give up skydiving?

Fri, 07/15/2011 - 11:24 | 1459501 Agent P
Agent P's picture

Mark the time and print the t-shirts, he just said it...

"We're (America) not Greece.  We're (America) not Portugal."

Fri, 07/15/2011 - 11:25 | 1459508 glenlloyd
glenlloyd's picture

wow....there's a lot of nothing in that speech.

Fri, 07/15/2011 - 12:00 | 1459748 HungrySeagull
HungrySeagull's picture

Now you learned this after he was elected some years ago.

Excellent Grasshopper.

Fri, 07/15/2011 - 11:26 | 1459519 walküre
walküre's picture

"Scaremongering" was so late 2008 / early 2009.

Now is "window dressing" at best or "kabuki theater" at worst.

The shit has already hit the fan, the US is de facto defaulting on its debt, and the US is bankrupt by the rest of the world's standard.

When US main street realizes this, it's after the fact.

No need to scare anyone anymore. The treasure has been looted and the spoils have already been divided. The max pain that will be inflicted on Americans cannot be avoided.

Inside the Beltway or on Wall Street nobody gives a fuck anyway now that the treasure is empty. The market is hollow, retail investors are too broke to play. The big guys know the game is rigged and won't accept defeat in their trading or investing.

Obama and the next teleprompter "President" will still speak the same way when Americans are starving from hunger or dying from normally curable diseases.

The nation is 14 trillions in the hole. Expanding the debt by 2.5 trillion will give us maybe 9 more months. Then what? Nobody is interested in buying US debt at this point, increasing the debt ceiling just to keep the charade going won't intice anyone to get back into buying.

It's over. Game over. The Federals and Unionists are fucked and they know it.

Fri, 07/15/2011 - 11:50 | 1459683 magis00
magis00's picture

But that might mean that we all have another 9 months to Prep.  Hallelujah to that my brotha.

Fri, 07/15/2011 - 11:28 | 1459526 Dolar in a vortex
Dolar in a vortex's picture

Barry said, "When I talk to the American people, when I meet with them, they have common sense".

 

You meet with and talk to hand picked democratic operatives you horses arse!

Fri, 07/15/2011 - 11:31 | 1459549 sabra1
sabra1's picture

common sense is all we'll have left, after they take our common dollars!

Fri, 07/15/2011 - 11:30 | 1459535 the not so migh...
the not so mighty maximiza's picture

yes yes , didn't you get the memo?

Fri, 07/15/2011 - 11:38 | 1459598 NotApplicable
NotApplicable's picture

...ON OTHER PEOPLE.

Fri, 07/15/2011 - 11:39 | 1459604 JLee2027
JLee2027's picture

Ahhh, that's makes sense.

Fri, 07/15/2011 - 11:29 | 1459533 I am Jobe
I am Jobe's picture

Harry Reid hosts Lake Tahoe retreat to raise money for senators from Rhode Island and Florida

http://www.rgj.com/article/20110715/NEWS19/110715004/Harry-Reid-hosts-La...

Fri, 07/15/2011 - 12:01 | 1459754 HungrySeagull
HungrySeagull's picture

Harry is dangerous.

Starve the brains of oxygen in that thin air up there those who have never been above 50 feet MSL without pressurization.

Fri, 07/15/2011 - 11:30 | 1459534 AmazingLarry
AmazingLarry's picture

No tallent ass clown.

Fri, 07/15/2011 - 11:31 | 1459547 n00b tube
n00b tube's picture

I'm confused. Does this mean I should shove all-in on NFLX?

Fri, 07/15/2011 - 11:31 | 1459551 Long-John-Silver
Long-John-Silver's picture

More "Shovel Ready" jobs! LOL

Fri, 07/15/2011 - 11:35 | 1459577 caerus
caerus's picture

farming baby! The ultimate shovel ready job!

Fri, 07/15/2011 - 11:32 | 1459557 thunderchief
thunderchief's picture

How dare he step up on his soap box again and make perfect sense.  Off with his head..  Where the hell is Sara Palin when we need her. 

Fri, 07/15/2011 - 11:35 | 1459574 Blano
Blano's picture

If you really think the TeleNegro is making sense, please pass me some of those mushrooms.

Fri, 07/15/2011 - 11:42 | 1459629 Dolar in a vortex
Dolar in a vortex's picture

Give us some details into his making "perfect sense", thunderchief.

Fri, 07/15/2011 - 12:02 | 1459761 HungrySeagull
HungrySeagull's picture

Mama Palin will get it fix right up soon enough grasshopper.

If she is not happy, aint no one gonna be happy child.

Fri, 07/15/2011 - 14:09 | 1460268 jomama
jomama's picture

i feel confident in saying no-one ever needed that woman for anything.

http://www.youtube.com/watch?v=oS4C7bvHv2w

Fri, 07/15/2011 - 11:33 | 1459559 lindenlee
lindenlee's picture

Right now, Jake Tapper is asking what Obama plans for entitlement reform, and he has no answer (as usual). He is a one-trick pony. Class warfare, tax and spend. EVERYTHING he is suggesting is SPENDING and REDISTRIBUTIONIST. He is angry that the PRODUCERS don't want to be milked, along with their children and great grandchildren, to pay for the freeloaders.

 

What a consummate and unmitigated dumbass.

Fri, 07/15/2011 - 11:35 | 1459572 I am Jobe
I am Jobe's picture

Shovel Ready means mosre graves in the USA.

Fri, 07/15/2011 - 11:35 | 1459575 Bay of Pigs
Bay of Pigs's picture

Doin, tryin, helpin, somthin, workin, posturin, etc...

Just fuckin unbelievable.

Fri, 07/15/2011 - 11:36 | 1459581 walküre
walküre's picture

hopin'

Fri, 07/15/2011 - 12:10 | 1459815 pods
pods's picture

changin'

Fri, 07/15/2011 - 11:35 | 1459578 walküre
walküre's picture

Gallup poll yesterday:

"Republican" wins with 8% margin to Obama in 2012.

That's a tough tough statement of discontent.

Obama has papers and spreadsheets on his desk. Can he read them?

Fri, 07/15/2011 - 11:42 | 1459630 I Am The Unknow...
I Am The Unknown Comic's picture

Nah, he doesn't pay attention to the news, as he just said.  He doesn't care what people think of him or say about him either because it's not personal.  Apparently being the leader of the free world is just another job, like being a garbage collector I suppose.  Yeah sure, some people leave their trash can lids open and rain gets in, but it's not personal.   

Hey Obama:  Dumbass, it IS personal, Mr. President

Fri, 07/15/2011 - 11:46 | 1459656 NotApplicable
NotApplicable's picture

Thing is, as soon as a specific name replaces the general label, the attraction fades as the reality materializes. It's no different than the failed "Anybody but Bush" movement before his reelection, which didn't help Kerry in the least bit.

Fri, 07/15/2011 - 11:36 | 1459584 carbonmutant
carbonmutant's picture

Time to take away the credit card....

Fri, 07/15/2011 - 11:37 | 1459585 caerus
caerus's picture

I got reams of paper!

Fri, 07/15/2011 - 11:42 | 1459626 Long-John-Silver
Long-John-Silver's picture

The better to ream you with, my dear.

Fri, 07/15/2011 - 11:51 | 1459690 caerus
caerus's picture

hear, hear!

Fri, 07/15/2011 - 12:03 | 1459765 HungrySeagull
HungrySeagull's picture

That I can believe in.

Also makes it easier to burn as biohazard.

Fri, 07/15/2011 - 11:36 | 1459586 euphoria
euphoria's picture

LOOK OUT!!! HE HAS SPREADSHEETS!!!

Fri, 07/15/2011 - 11:37 | 1459591 Blano
Blano's picture

Dear Dipshit in Chief:  an organization that takes in $2 trillion in ONE YEAR does NOT have a revenue problem.  Period.

 

Fri, 07/15/2011 - 11:52 | 1459701 magis00
magis00's picture

This is a good point. 

Fri, 07/15/2011 - 15:28 | 1460543 hedgeless_horseman
hedgeless_horseman's picture

Dear Dipshit in Chief: an organization protection racket that takes in steals $2 trillion in ONE YEAR does NOT have a revenue problem. Period.

Fri, 07/15/2011 - 11:37 | 1459594 r101958
r101958's picture

There it is again......'investments'.....that is right...'big government' and 'spending'......stop with the semantics.

Fri, 07/15/2011 - 11:40 | 1459612 slaughterer
slaughterer's picture

Obama is greater than JOB!  

Fri, 07/15/2011 - 11:43 | 1459631 caerus
caerus's picture

cnbs just figured out C well...it's more like shittygroup

Fri, 07/15/2011 - 11:43 | 1459633 mt paul
mt paul's picture

raise the debt ceiling... 

my federal pension 

needs more peas....

Fri, 07/15/2011 - 11:43 | 1459634 docj
docj's picture

Shorter Teleprompter

1) It's all Bush's fault

2) No tough choices necessary, just cut Defense and tax the guy in the fancy house across town - that's a "balanced approach"

3) Yeah, I know I have ignored and continue to completely dismiss that debt-reduction commission I appointed, but hey I deserve credit anyway

4) Bush's fault

5) Have to push the hard decisions out past the election at all costs

6) Did I mention it's all Bush's fault?

Fri, 07/15/2011 - 11:43 | 1459636 Ignorance is bliss
Ignorance is bliss's picture

The pres may not be sincere...but he is one hell of an orator. The American sheeple bought that speech hook line and sinker. Expect Obama to win again in 2012. Shit happens.

Fri, 07/15/2011 - 13:16 | 1460085 Bob Sacamano
Bob Sacamano's picture

It is how he got elected - oratory.  He carefully does not express his real vision for America -- which is far left (another reason college transcripts and papers are sealed).

Sadly most Americans are clueless about substance vs fluff / crap.  They do not think about the essence of what he is saying or the emptiness of what he is saying or the contradictions in what he is saying.  And the MSM love him, so there is no consistent or hard challenge to his ramblings.

80% chance to be re-elected.  No articulate conservative to run against him.  And Americans do not want to face the reality a conservative would need to tell them -- that they have lived way beyond their means and much of the world is gaining ground on them in many ways (including productivity).  So the future will be more difficult than the past -- hardly a winning campaign slogan.  

 

Fri, 07/15/2011 - 11:44 | 1459637 skidrow
skidrow's picture

Consumer sentiment at 2 yr low.. gold all-time high.. homeboy just doesn't get it

Fri, 07/15/2011 - 11:48 | 1459672 Long-John-Silver
Long-John-Silver's picture

Gold is not money.

That's why he does not get it.

Fri, 07/15/2011 - 11:46 | 1459657 nowhereman
nowhereman's picture

Hey, let's not lose sight of the real reasons behind this problem.  The gubermint spent trillions propping up JPM, Citi, BAC and GS, now it's time to pay for it.

This whole debt ceilling sharade is an attempt to delude the American "folks" into ignoring the huge profits now being reported by the likes of JPM and Citi.

You can fool all of the people most of the time, but not most of the people all of the time.

Fri, 07/15/2011 - 11:51 | 1459695 Ignorance is bliss
Ignorance is bliss's picture

I'm fairly certain most of the people are ignorant and dumb enough to fool all the time. That's why the world is swimming in debt and debasing currencies.

Fri, 07/15/2011 - 11:46 | 1459658 lindenlee
lindenlee's picture

Notice that the one thing that would protect Social Security is NOT being proposed by either side... Taking it off budget with the "lock-box" keeping the money secure and OUT OF REACH of Congress. This would automatically reduce the spending available to Congresss, and make them make the cuts necessary.

We should have learned by now that no "trust fund" has any money in it. It quickly becomes a slush fund for the political class. Stimulus was supposed to go for infrastructure, but it went to government. Bank bailouts were supposed to take care of toxic assets, but they just got moved around, and piper still has to be paid on that (and WE will pay it in one way or another). Social Security gets raided every year, as did Medicare when it has a surplus. So... An increase in the gax tax would NOT be spent on highway infrastructure, or anything related to that (as was its stated purpose). It would just become another slugh fund.

The addicts in DC can't help themselves. They have no fiduciary responsibility to the people. They need their shot of heroin, and they expect that we will give it to them.

Fri, 07/15/2011 - 12:02 | 1459758 Hedgetard55
Hedgetard55's picture

SS is now cash flow negative so the Fed Gov is not getting any more cash from it's surpluses as before.

Fri, 07/15/2011 - 11:47 | 1459660 thetrader
thetrader's picture

to raise or not to raise.....they have no option....

Don’t Mess with the Debt Ceiling, the vigilantes will make you pay

Fri, 07/15/2011 - 11:49 | 1459684 overmedicatedun...
overmedicatedundersexed's picture

alot  of crying and sniveling in the white house bedrooms at night..and no it ain't the kids.

the cry redistribute, redistribute ,hug me billy Ayers hug me.

Fri, 07/15/2011 - 11:50 | 1459689 km4
km4's picture


“We have drifted because we had so much prosperity, but we can’t drift forever. We can’t live on borrowed money and printed money forever "

No that was Ron Paul

Fri, 07/15/2011 - 11:55 | 1459717 gwar5
gwar5's picture

Listening to Obama finish up now... my ears are bleeding.

O'bombma has so many straw men the cost for fire insurance at the White House must be insane.

Back in 2006 this recall challenged 8th-grader-in-Chief voted against raising the debt limit, saying it would weaken the US domestically and internationally, and said the need to raise the limit (again) showed lack of fiscal discipline and lack of leadership from Bush. Deficits then were $400 billion/yr and now they're $1.5 Trillion/yr. 

Has anybody told Obama yet that people outside of NYC and Chicago have cable now and we can watch him lie?

 

Fri, 07/15/2011 - 11:57 | 1459734 Silverhog
Silverhog's picture

Comforting rhetoric from Pea Brain. Hey, is it against the law to mail a fart?

Fri, 07/15/2011 - 11:59 | 1459745 Problem Is
Problem Is's picture

When are old people going to storm the White House and kick Barry's ass for lying about no money for social security checks...

You know, kick Barry's ass like Michelle does...

Fri, 07/15/2011 - 12:03 | 1459764 Treasure Freedom
Treasure Freedom's picture

Some of you act as if everything is Obama's fault.. LOL he inherited this mess and not only that this has been planned for centuries. He is the misdirection and most of you bafoons are falling for it. smh

Fri, 07/15/2011 - 12:33 | 1459914 JLee2027
JLee2027's picture

Inherited and made it worse. A lot worse. Get your facts straight.

Fri, 07/15/2011 - 12:54 | 1460002 Johnny Lawrence
Johnny Lawrence's picture

What's amazing about The Messiah is how he campaigned as the champion of the little guy, yet on his watch, the gap between the rich and poor has only become wider.  He supports Bernanke.  He refused to make banks take losses.  His never-ending spending pinge has greased up the stock market.  It's disgusting.

Fri, 07/15/2011 - 13:34 | 1460153 I Am The Unknow...
I Am The Unknown Comic's picture

You know Johnny L., it really is disgusting isn't it? 

I think "disgusting" is perhaps the most accurate description.  I've been trying to find the right word.  Thanks.

Fri, 07/15/2011 - 12:05 | 1459781 Blithering ORSA
Blithering ORSA's picture

"I can't promise you'll get any SS next month."

 

-but he sure could promise the manna from heaven when he was running for office.

Fri, 07/15/2011 - 12:47 | 1459909 JLee2027
JLee2027's picture

The telecast removes all doubt that Obama is a buffoon!   I wish the Republicans had stronger leadership, but no, wishy washy wimpy is the name of the game.

Default looms. Maybe best, kicking the can again will only make it worse.

 

 

Fri, 07/15/2011 - 14:04 | 1460255 jomama
jomama's picture

lol, republicans.

Fri, 07/15/2011 - 12:42 | 1459956 duffelpud
duffelpud's picture

Time for a PEA party.

Fri, 07/15/2011 - 12:47 | 1459979 janus
janus's picture

politician's words like a bullet's bark/

as human gods aim for their mark/

make everything from toy guns that spark/

to flesh-colored-christs that glow in the dark/

it's easy to see without lookin too far/

that not much is really sacred!

 

B Dylan (for those of you too young, dumb and full of cum to know any bettah)

Fri, 07/15/2011 - 12:50 | 1459990 Johnny Lawrence
Johnny Lawrence's picture

I always find it amazing how these politicans can go out and raise hundreds of millions to fund their campaigns, but they won't do shit to help out ordinary Americans.  Obama's campaign is targeting $1 billion(!!!) in campaign funds.  Really???

Fri, 07/15/2011 - 13:57 | 1460224 fallout11
fallout11's picture

Really. That is because you and I and the rest of the working, producing people of the US are NOT his constituency. Politicians serve their masters first and themselves second. The rest of us (99%) are out of sight and out of mind.

Fri, 07/15/2011 - 13:29 | 1460131 inkarri9
inkarri9's picture

This is from a speech Obama made in 2006:

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.

Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.

Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.

Senator Barack Obama
Senate Floor Speech on Public Debt

March 16, 2006

Fri, 07/15/2011 - 15:18 | 1460499 MobBarley
MobBarley's picture

It's that picture, Tyler. The one of Obama depravedly mocking

the hopes, dreams and aspirations of all mankind.

It's so obscene yet it makes perfect sense.

Jeremy's spoken..spoken today

 

Fri, 07/15/2011 - 18:29 | 1461106 ping
ping's picture

'What do all you morons want in the White House?'

A robot clown with dildo-hands. And I think I speak for all of us.

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