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Who Said It?
It really never gets old...
Date: March 16, 2006
Place: Senate Floor
Speech:
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.
Fast forward to today, when the same senator, now president, is openly threatening with using a veto to impose his will on raising the debt ceiling over that of what, at least according to the Congress, is still the majority of Americans.
So much changes in 6 years indeed...
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But unlike APPL, it's based on real fundamentals...
Change you can believe in... Debt Slavery.
I was thinking of starting a useless petition to uncle tom in the WH to change the "In God We Trust" on the Rothschilds Reserve Notes we pay for to " In Debt we enTrust our Slavery "
Like when your wife/current girlfriend finds out how many women you slept with before you met her...honey, that was the old me, this is the new me.
wow, look at the fun-bags on that hose hound
The U.S. spends more than the next 14 countries on "defense". How much longer will the Chinese like the idea of the dollar standard financing that threat.
If we don't spend that much then the terrorists win.
Cut funding and Grandma might get through the airport without a full cavity search - can't have that. Where will pedophiles find employment if not the TSA - where they can legally grope small children in the name of security.
Data centers in Utah that record all your calls and emails don't come cheap - drones in American skies will protect us from the one-eyed ghost of Bin Laden.
the head "terrorist" already won, back on Nov 6
Because if we didn't supply the world with arms, the market for Chinese arms would crash? Sure it gets complicated with sovereign debt bought by foreign entities, but isn't that part of the macro economic scheme?
It shows you the core beliefs of this guy...he has none...its whatever sounds good at the time...I saw ..I know it..I voted against him....I am saddened to see the Obama supporters who actually fall for this stuff....the upper third of the followers are crooks..the enablers...the ones who tell him what to say annd where to say it...they are the wizards behind the tent.....the other 2/3rds are the dumb ones...who really really believe him...Obama thinks by taxing the producers...the takers will be better off...
I see this as more of a failure of the American PEOPLE. We elect these politicians and allow them to behave like this. We have nobody but ourselves to blame for what is coming.
really simple to comphrehend when you realize the majority is comprised of those who ONLY care about either taking from others (takers) or having the right to kill their babies - and care about nothing else - we are immoral and deserve what God has in store for us, and we are going to get it good & hard - its coming
You're right, and it also is important to win the abortion fight (for the left) because that opens the door to infanticide of the infrim and euthanasia of the elderly and the older infirm. It s a moral failing.
I think that issue is covered already. It is law, as "defined" by the H&H secretary.
and its an easy way to capture nearly 50% of the vote - handouts/no income tax for the "47%" and the amnesty play seal the deal - I don't see anyone winning the presidency that opposes any of these 3 legs - GAME OVER !
never ceases to amaze how emotional you dudes get over this issue.
"babies" are not "zygotes" - and if you're soo heartbroken about "teh baybeez" I'm truly hoping you're contributing time and fiat to taking care of all "teh baybeez" out there living on EBT pixels, in homeless shelters and orphanages, etc.
but you're not. I know you're not. you just repeat your gospel here, and completely ignore the FACT that a corporate government desires to enact LAWS for BODIES, because you don't believe they apply to you.
wanna see what opens the door to more law enForcement? get your pet "law" enshrined in the "constitution" - see what the NEXT law will be - because the creation of restrictive laws never stops, merely rolls forward, over the individual. . .
who will "they" want to contribute to the care and feeding of all those pooooooor baybeez???
d'ya think??
1913 Bitchez! Damn bad year and a slippery slope of moral hazard ever since.
"The best lack all conviction, while the worst
Are full of passionate intensity."
Any literary ZHers out there?
I disagree in that the intelligence of the american has been dumbed down by a horribly corrupt education system (read just about any Sowell book on the subject) and further the minds have been warped by a twisted and well orchestrated effort on behalf of the brother leftists in Hollywood, newspapers and media (read Hollywood Party by Billingsley which details the SUCCESSFUL efforts of the communists in the 30s and 40s and how they've slowly infiltrated. This is truly a success of the left/communists, to an extent McCarthy was right, who have all but taken over Hollywood and Media. To blame the brainwashed is unfair in that this was started much earlier in their lives and they had no idea. It was EXACTLY as presaged in 1956's Invasion of the Body Snatchers. Brought into the country by seeds of thought, the harshness of war, the hatred of races, things that on the surface were valid issues but slowly turned into emotional junk (the pods of thought, if you will), slowly everyone changed, they didn't realize it, and it felt the same except we are now different - a few of us still left to try to fight it but ultimately inevitable as at some point we have to rest, and that is when the change occurs. Yes, it is that bad....
dead on - GAME OVER - battle won by the commies - hopefully it doesn't take us 75 years like it did the Russians to rid of it
every republican should read obamas speech (as their own) when they are in front of the tv cameras..but dont say it was obama. can the dems then make fun of it when they know it was from obama...? too funny.
A better question: Who wrote it for him?
Wasn't that on a YouTube video? Where are the riots? Where are the RPGs?
When does the Hawaiian vacation start?
As soon as Ferris Bueller gets back from his day off.
;-)
And another thing.
Seeing as this site will be monitered by the likes of the NSA, the FBI, the CIA, the MI6, MI5, and other assorted three letter fuck wits, is their any chance you lot could look into the actions of politicians especially in Britain of the filthy habits they have concerning young children of both sexes. Just of course if that is not to much trouble instead of stealthly putting anonymous posters from ZH on some type of list, it would be much more constructive of you lot doing the fucking job we pay you handsomely for if you tried to stop the real criminals for a fucking change.
Bunch of cunts.
Hey why u got to call them cunts. I like cunt and i'm sure most men do unless their Gay, not that there's anything wrong with that. How bout Shit encrusted prutruding rectum lickers?
“Truth hurts. Maybe not as much as jumping on a bicycle with a seat missing, but it hurts.”
-Naked Gun
.
how 'bout we just stick with the obvious truths and stop with the misdirects.
the men that have and are abusing children, of both sexes, are PRICKS, COCKS, DICKS, etc.
you don't like cunt, fine, use your own genitalia.
Seeing Tea Party uprising against Boehner's firing of conservative committe members, the only way I see any agreement going throug, is by Boehner cooperating with Pelosi and assuming that enough repub congressmen will follow Boehner and Pelosi.
I think it's impossible.
Hence, both parties want the cliff, hoping to win the media war after the cliff.
Cliff is inevitable.
News update:
40 republicans back all cliff options.
I may have have to back off from my "inevitable" comment.
win the media war? haha. The media is an arm of the DEM party and the financial media an arm of the central banks.
CNBS and Bloomberg WORSHIP money managers. It's getting insane.
Soon hollyweird actors will want to be come hedge fund managers.
No objections. That's why I haven't had a TV set since 2001.
I don't want to be brainwashed.
OT, but I did notice that the morons at CNBC had a "Fiscal Cliff" countdown scrolling on the bottom of the screen today. Probably been there a while, but since I stopped watching their cheerleading bullshit unless I need to make myself vomit, I just saw it today. Just one more confirmation of who is pulling their strings and what side they are on.
Final Solution
HOPE & CHANGE LOL!
2006: "America has a [$9 Trillion] debt problem and a failure of leadership. Americans deserve better." -BO
2012: And now with a $16 Trillion debt problem and a failure of leadership, Americans DO deserve better!
https://www.facebook.com/photo.php?fbid=349357345139731&set=a.3493494418...
He surely knows which side of his bread is buttered.
On Topic:
Deck the Halls with Macro Follies (EconStories)
https://www.youtube.com/watch?v=7uKnd6IEiO0&feature=em-uploademail
but... george w bush...
When you push pass all of the nonsense and distrations, it is because the US is robbing from its youth to comfort its old (SSI, Medicare, Medicaid whose biggest expense is elderly assisted living) and spending over $1T on defense to maintain is crumbling grip on global finance, trade, and resources.
Any society that decides to make these 2 basic choices over a prolonged period (US has for a while and really double-downed after 2000 with the bogus 'global war on terrorism' and passing MMA Act of 2003 which created the entirely unfunded Medicare Part D) is going to be doomed to failure with either a dramatic implosion or a slow crawl to irrevelance.
i think the logic runs something like this for Krugman...all debt increases are an increase in value of each citizen reduced by all public works since 1862.
in other words..300 million americans, 16 trillion in acknowledged debt but 300 trillion when you include unfunded liabilities means that each american is worth 1 million and you are just a hairy wart nasty ",,ist" if you believe otherwise.
Similarly public works infrastructure since the Hoover damn is worth around 25 trillion and requires no maintenance whatsoever, as all repairs are investment and enable us all to achieve our 1 million dollar worth..each.
So before we knock trillion dollar fuckwits like Kugman who just know the right thing is to always inject and never withdraw taxpayers money, we should aknowledge that each of us is worth 1 million because of all the debt, unfunded liabilities and infrastructure that someone else built.
An economy that produces 16 trillion of output, is not worth 16 trillion times an opportunity cost. This would mean that the economy was worth 16 times the inverse of 5% or 320 trillion. It is worth the stock market capitalisation (35 trillion)? Does this mean that every amercian is worth the sum of the stock market and all debt? total assets = total debt + total equity?
Ok, so 16 or 300 trillion of debt (plus non-Government debt) plus 35 trillion of equity. Each american is worth somewhere between 50trillion divided by 300 million or six times that. I.e. 166,667 or 1,000,000.
I leave it to others to posit whether the actual worth is around +25,000 or -25,000. Suffice to say, a currency crash of 90% is possible...provided that evry other piece of shit currency doesn't also fall 90%.
Buy gold bitchez..is is heading for 20,000 (not quite worthless dollars) an ounce in the next five years.
Any topic on here relatd to Obama brings out the stupidest posters on this site out of the woodwork. Way too many people act like this is some magic problem that largely started 4 years ago or that haven't been a long-standing series of policies in place (beyond the creation of the Fed) that have led to where we are today.
Any society that doesn't even remain its investment in its capital (especially physicial but also human) to satisfy its current and future needs is f@cked. Doesn't help that we have created a Frankenstein model of development and level of lifestyle which other countries want to emulate globally which isn't remotely achievable either unless you either are a fool (Science is magic crowed and technology/free market will save us from whatever bad things will happen) or a charalatan.
dualism is a hella mind capture.
+1
$16T ?? It's all relative. Used to be $1T and nobody could imagine 16T.
Now imagine $100T
it's possible, maybe even likely
BUY GOLD
The Mack Daddy.
"robbing our cities and States"
How are massive debts "robbing our cities and states"?
If anything our cities and states are "looting debt machines" little criminal cartel monopolies taking a "cut" of everything mostly to provide free shit to illegal aliens or former illegal aliens.
Govt has been hijacked like the AIDS virus hijacks a cell and its being used to fund criminal invasion.
what got you there wont keep you there
That would be Owebami for $100.
Don't despair. The market ramped up because worthless dollars can buy real things that can earn more worthless dollars.
There is no escaping...the banksters have the entire system rigged. Peace - war, no difference they will profit from either.
'Peace' ....... what's that ?
They all spew the same BS. Why is this a surprise? Rmoney would have been different?
I think ya'll just like to waste your ammo when you should be saving it for the real show...
Field Goal. Can successfully kicked.
Pathetic excuse for a president. We are so screwed.
They will try the same old formula tax increases for everyone and spending cuts.
Look mathematically is impossible to pay the debt the sooner we accept that the better we are going to be. We need to get the best mathematical, accounting, financial and legal minds in the nation and come out with a gracious plan of debt forgiveness. The more we wait the worst it going to get. We are going the way of Spain (taxes and cuts) and that is not fun.
Read this, this guy have more or less the same figures that I have, same conclusion:
http://www.youtube-nocookie.com/embed/EW5IdwltaAc?rel=0
"Increases taxes and spending cuts" is what Spain is doing and they already are over the 25% (sorry it just went up to
26.2%)
of unemployed people. IT DOES NOT WORK!!! Corporations are moving out of Spain, people are committing suicide when they come to take their homes away, Spaniard s are moving to Germany, Norway, etc. Cataluña is trying to separate from Spain. IT IS A MESS
WE CAN NOT DO THIS OR WE WILL DESTROY THE NATION.
i think i'm just going to spend the day emailing this speech to every Cogressman...over and over and over again, until the gov shuts my internet connecti..........
Well build it right the first time, and you won't go broke tryin to fix it the second time around. It's as simple and easy as that!
Uncle Tom gottsta do what he be told. Please don't beat me masta I do what you want i won't give you no sass back. Shalom
the beast is on the gobble
and all that matters is we're all headed for it's belly
http://youtu.be/ntmthFyaYzY
The Teleprompter said it.
It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies... .
That was before O'Bunghole realized that the Fed was not a foreign country.
This is the change Obambam was harping on about.