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"We Are Not A Deadbeat Nation" - Full Obama Transcript

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The punchlines: "...the issue here is whether or not America pays its bills. We are not a deadbeat nation... And if the Republicans in Congress have made a decision that they want to shut down the government in order to get their way, then they have the votes, at least in the House of Representatives, probably to do that.... So we've got to pay our bills. And Republicans in Congress have two choices here. They can act responsibly, and pay America's bills, or they can act irresponsibly and put America through another economic crisis. But they will not collect a ransom in exchange for not crashing the American economy ... We've got to stop lurching from crisis to crisis to crisis when there's this clear path ahead of us that simply requires some discipline, some responsibility, and some compromise. That's where we need to go. That's how this needs to work."

Yet should the "worst" (i.e. living within its means) happen to the US, then "Social Security checks, and veterans benefits will be delayed. We might not be able to pay our troops, or honor our contracts with small business owners. Food inspectors, air traffic controllers, specialist who track down loose nuclear materials wouldn't get their paychecks. Investors around the world will ask if the United States of America is in fact a safe bet. Markets could go haywire, interest rates would spike for anybody who borrows money. Every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire.... As the speaker said two years ago, it would be, and I'm quoting Speaker Boehner now, "a financial disaster, not only for us, but for the worldwide economy.""

Still think "we are not a deadbeat nation"?

Full speech transcript:
 
OBAMA: Please have a seat everybody. Good morning.
 
     I thought it might make sense to take some questions this week, as my first term comes to an end. It's been a busy and productive four years, and I expect the same for the next four years. I intend to carry out the agenda that I campaigned on -- an agenda for new jobs, new opportunity, and new security for the middle class.
 
     Right now, our economy is growing and our businesses are creating new jobs. So, we are poised for a good year if we make smart decisions and sound investments, and as long as Washington politics don't get in the way of America's progress.
 
     As I said on the campaign, one component to growing our economy and broadening opportunity for the middle class is shrinking our deficits in a balanced and responsible way. And for nearly two years now, I've been fighting for such a plan, one that would reduce our deficits by $4 trillion over the next decade, which would stabilize our debt and our deficit in a sustainable way for the next decade.
 
     OBAMA: That would be enough not only to stop the growth of our debt relative to the size of our economy, but it would make it manageable so it doesn't crowd out the investments we need to make in people and education and job training and scientist and medical research, all the things that help us grow.
 
     Now, step by step, we've made progress towards that goal. Over the past two years, I've signed into law about
$1.4 trillion in spending cuts. Two weeks ago, I signed into law more than $600 billion in new revenue, by making sure the wealthiest Americans begin to pay their fair share.
 
     When you add the money that we'll save in interest payments on the debt, altogether that adds up to a total of about $2.5 trillion in deficit reduction over the past two years, not counting the $400 billion already saved from winding down the wars in Iraq and Afghanistan.
 
     So we've made progress. We are moving towards our ultimate goal of getting to a $4 trillion reduction. And there will be more deficit reduction when Congress decides what to do about the $1.2 trillion in automatic spending cuts that have been pushed off until next month.
 
     The fact is, though, we can't finish the job of deficit reduction through spending cuts alone. The cuts we've already made to priorities other than Medicare, Medicaid, Social Security, and defense mean that we spend on everything from education to public safety less as a share of our economy than it has -- than has been true for a generation. And that's not a recipe for growth. So we've got to do more both to stabilize our finances over the medium and long term, but also spur more growth in the short term.
 
     Now, I've said I'm open to making modest adjustments to programs like Medicare to protect them from future generations. And I've also that we need more revenue through tax reform, by closing loopholes in our tax code for the wealthiest Americans. If we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we can solve the deficit issue without sacrificing our investments in things like education that are going to help us grow.
 
     It turns out the American people agree with me. They listened to an entire year's debate over this issue. And they made a clear decision about the approach they prefer. They don't think it's fair, for example, to ask a senior to pay more for his or her health care or a scientist to shut down life-saving research so that a multimillionaire investor can pay less in tax rates than a secretary. They don't think it's smart to protect endless corporate loopholes and tax breaks for the wealthiest Americans rather than rebuild our roads and our schools, invest in our workers' skills, or help manufacturers bring jobs back to America.
 
     So they want us to get our books in order in a balanced way, where everybody pulls their weight, everyone does their part. That's what I want, as well. That's what I've proposed.

And we can get it done, but we're going to have to make sure that people are looking at this in a responsible way, rather than just through the lens of politics.
 
     Now, the other congressionally imposed deadline coming up is the so-called debt ceiling, something most Americans hadn't even heard of before two years ago. So I want to be clear about this: The debt ceiling is not a question of authorizing more spending. Raising the debt ceiling does not authorize more spending. It simply allows the country to pay for spending that Congress has already committed to.
 
     OBAMA: These are bills that have already been racked up, and we need to pay them. So, while I'm willing to compromise and find common ground over how to reduce our deficits, America cannot afford another debate with this Congress about whether or not they should pay the bills they've already racked up. If congressional Republicans refuse to pay America's bills on time, Social Security checks, and veterans benefits will be delayed.
 
     We might not be able to pay our troops, or honor our contracts with small business owners. Food inspectors, air traffic controllers, specialist who track down loose nuclear materials wouldn't get their paychecks. Investors around the world will ask if the United States of America is in fact a safe bet. Markets could go haywire, interest rates would spike for anybody who borrows money. Every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire.
 
     It would be a self-inflicted wound on the economy. It would slow down our growth, might tip us into recession. And ironically it would probably increase our deficit. So to even entertain the idea of this happening, of the United States of America not paying its bills, is irresponsible. It's absurd. As the speaker said two years ago, it would be, and I'm quoting Speaker Boehner now, "a financial disaster, not only for us, but for the worldwide economy."
 
     OBAMA: So we've got to pay our bills. And Republicans in Congress have two choices here. They can act responsibly, and pay America's bills, or they can act irresponsibly and put America through another economic crisis. But they will not collect a ransom in exchange for not crashing the American economy. The financial wellbeing of the American people is not leverage to be used. The full faith and credit of the United States of America is not a bargaining chip. And they better choose quickly, because time is running short.
 
     The last time republicans in Congress even flirted with this idea, our AAA credit rating was downgraded for the first time in our history. Our businesses created the fewest jobs of any month in nearly the past three years, and ironically, the whole fiasco actually added to the deficit.
 
     So it shouldn't be surprising, given all this talk, that the American people think that Washington is hurting rather than helping the country at the moment. They see their representatives consumed with partisan brinkmanship over paying our bills while they overwhelmingly want us to focus on growing the economy and creating more jobs.
 
     So let's finish this debate. Let's give our businesses and the world the certainty that our economy and our reputation are still second to none. We pay our bills, we handle our business, and then we can move on because America has a lot to do.
 
     We have got to create more jobs. We have got to boost the wages of those who have worked. We've got to reach for energy independence. We have got to reform our immigration system. We've got to give our children the best education possible. And we've got to do everything we can to protect them from the horrors of gun violence.
 
     And let me say, I'm grateful to vice president -- Vice President Biden for his work on this issue of -- of gun violence, and for his proposals which I'm going to be reviewing today and I will address in the next few days and I intend to vigorously pursue.
 
     With that I am going to take some questions and I am going to start with Julie Pace (ph) of A.P. And I want to congratulate Julie for this new, important job.
 
     QUESTION: Thank you very much.
 
     OBAMA: Yes?
 
     QUESTION: I wanted to ask about gun violence. Today marks the one-year -- or one-month anniversary of the shooting in Newtown, which seemed to generate some momentum for reinstating the assault weapons ban. But there's been fresh opposition to that ban from the NRA, and even Harry Reid has said that he questions whether it could pass Congress.
 
     Given that, how hard will you push for an assault weapons ban? And if one cannot pass Congress, whatever measures would need to be included in a broad package in order to curb gun violence successfully?
 
     OBAMA: Well, as I said, the vice president and a number of members of my cabinet went through a very thorough process over the last month, meeting with a lot of stakeholders in this, including the NRA; listened to proposals from all quarters. And they've presented me now with a list of sensible, common sense steps that can be taken to make sure that the kind of violence we saw at Newtown doesn't happen again.
 
     I'm going to be meeting with the vice president today. I expect to have a -- a fuller presentation later in the week to give people some specifics about what I think we need to do. My starting point is not to worry about the politics. My starting point is to focus on what makes sense, what works, what should we be doing to make sure that our children are safe and that we're reducing the incidence of gun violence.
 
     OBAMA: And I think we can do that in a sensible way that comports with the Second Amendment. And then members of Congress, I think, are going to have to have a debate and examine their own conscience. Because, you know, if in fact -- and I believe this is true -- everybody across party lines was as deeply moved and -- and saddened as I was by what happened in Newtown, then we're going to have to vote based on what we think is best. We're going to have to come up with answers that set politics aside. And that's what I expect Congress to do.
 
     But -- but I -- what you can count on is, is that the things that I've said in the past -- the belief that we have to have stronger background checks, that we can do a much better job in terms of keeping these magazine clips with high capacity out of the hands of folks who shouldn't have them, an assault weapons ban that is meaningful, that those are things I continue to believe make sense.
 
     Will all of them get through this Congress? I don't know. But what's uppermost in my mind is making sure that I'm honest with the American people and with members of Congress about what I think will work, what I think is something that will make a difference and -- to repeat what I've said earlier -- if there is a step we can take that will save even one child from what happened in Newtown, we should take that step.
 
     QUESTION: (OFF-MIKE)
 
     OBAMA: I'll present the details later in the week.
 
     Chuck Todd, NBC.
 
     QUESTION: Thank you, sir. As you know, Senate Democrats -- Harry Reid sent you a letter begging you, essentially, to take -- consider some sort of executive action on this debt ceiling issue. I know you've said you're not negotiating on it. Your administration has ruled out the various ideas that have been out there, the 14th Amendment, but just this morning, House -- one of the House Democratic leaders, Jim Clyburn, asked you to use the 14th Amendment and even said sometimes that's what it takes. He brought up the Emancipation Proclamation as saying they took executive action when Congress wouldn't act, and he compared the debt ceiling to that. So are you considering a Plan B? And if not, why not?
 
     OBAMA: Well, Chuck, the issue here is whether or not America pays its bills. We are not a deadbeat nation. And so there's a very simple solution to this: Congress authorizes us to pay our bills.
 
     Now, if the House and the Senate want to give me the authority so that they don't have to take these tough votes, if they want to put the responsibility on me to raise the debt ceiling, I'm happy to take it. Mitch McConnell, the Republican leader in the Senate, had a proposal like that last year. And I'm happy to accept it.
 
     But if they want to keep this responsibility, then they need to go ahead and get it done. And, you know, there are no magic tricks here. There are no loopholes. There are no, you know, easy outs. This is a matter of Congress authorizes spending. They order me to spend. They tell me, you need to fund our Defense Department at such- and-such a level, you need to send out Social Security checks, you need to make sure that you are paying to care for our veterans. They lay all this out for me, and -- because they have the spending power. And so I am required by law to go ahead and pay these bills.
 
     OBAMA: Separately, they also have to authorize a raising of the debt ceiling in order to make sure that those bills are paid. And so what Congress can't do is tell me to spend X and then say, "But we're not going to give you the authority to go ahead and pay the bills."
 
     And I just want to repeat, because I think sometimes the American people understandably aren't following all -- all the debates here in Washington. Raising the debt ceiling does not authorize us to spend more. All it does is say, that America will pay its bills. And we are not a deadbeat nation.
 
     And the consequences of us not paying our bills, as I outlined in my opening statement, would be disastrous. So, I understand the impulse to try to get around this in a simple way. But there's one way to get around this. There's one way to deal with it, and that is for Congress to authorize me to pay for those items of spending that they have already authorized. And the -- you know the -- the notion that Republicans in -- in the House, or maybe some Republicans in the Senate would suggest that in order for us to get our way on our spending priorities, that we would risk the full faith and credit of the United States, that I think is not what the founders intended.
 
     That's now how I think most Americans think our democracy should work. You know they've got a point of view. Democrats in Congress have a point of view. They need to sit down, and -- and work out a compromise.
 
     (OFF-MIKE)
 
     QUESTION: (Inaudible) If you're not negotiating, and they say you have to negotiate (inaudible) considering other Plan B? You do see (inaudible)?
 
     OBAMA: Well, look, Chuck, there -- there are -- there -- there's a pretty straightforward way of doing this, and that is to set the debt ceiling aside, we pay our bills. And then we have a vigorous debate about how we're gonna do further deficit reduction in a balanced way.
 
     Now, keep in mind that, you know, what we've heard from some republicans, in both the House and the Senate, is that they will only increase the debt ceiling by the amount of spending cuts that they're able to push through. And, in order to replace the automatic spending cuts, the sequester, that's $1.2 trillion. Say it takes another $1 trillion or $1.2 trillion to get us through one more year, they'd have to identify $2.5 trillion in cuts just to get the debt ceiling extended to next year, $2.5 trillion.
 
     They can't even -- Congress has not been able to identify $1.2 trillion in cuts that they're happy with, because these same republicans say they don't want to cut defense. They've claimed that they don't want to gut Medicare or harm the vulnerable, but the truth of the matter is, is that you can't meet their own criteria without drastically cutting Medicare, or having an impact on Medicaid, or affecting our defense spending. So the math just doesn't add up.
 
     Now, what -- here -- here's what would work. What would work would be for us to say, we've already done close to $2 trillion in deficit reduction, and if you add the interest that we won't be paying, because of less spending and increased revenue, it adds up to about $2.5 trillion.
 
     OBAMA: The consensus is we need about $4 trillion to stabilized our debt and our deficit, which means we need about $1.5 trillion more. The package that I offered to Speaker Boehner before we -- before the new year would achieve that. We were actually fairly close in terms of arriving at that number.
 
     So -- so, if the goal is to make sure that we are being responsible about our debt and our deficit -- if that's the conversation we're having, I'm happy to have that conversation. And by closing some additional loopholes through tax reform, which Speaker Boehner has acknowledged can raise money in a sensible way, and by doing some additional cuts, including making sure that we are reducing our health care spending, which is the main driver of our deficits, we can arrive at a package that gets this thing done.
 
     I'm happy to have that conversation. What I will not do is to have that negotiation with a gun at the head of the American people -- the threat that unless we get our way, unless you gut Medicare or Medicaid, or, you know, otherwise slash things that the American people don't believe should be slashed, that we're going to threaten to wreck the entire economy. That is not how historically this has been done.
That's not how we're going to do it this time.
 
     QUESTION: (inaudible) not searching for (inaudible)?
 
     OBAMA: What I'm...
 
     (CROSSTALK)
 
     QUESTION: (inaudible)
 
     OBAMA: Chuck, what I'm saying to you is that there is no simpler solution, no ready, credible solution other than Congress either give me the authority to raise the debt ceiling or exercise the responsibility that they have kept for themselves and raise the debt ceiling, because this is about paying your bills.
 
     OBAMA: Everybody -- everybody here understands this. I mean, this is not a complicated concept. You don't go out to dinner and then, you know, eat all you want and then leave without paying the check. And if you do, you're breaking the law. And Congress is -- should think about it the same way that the American people do.
 
     You don't -- now, if Congress wants to have a debate about maybe we shouldn't go out to dinner next time, maybe we should go to a more modest restaurant, that's fine. That's a debate that we should have. But you don't -- you don't say, in order for me to control my appetites, I'm going to not pay the people who already provided me services, people who already lent me the money. That's not -- that's not showing any discipline. All that's doing is not meeting your obligations. You can't do that.
 
     And -- and that's not a credible way to run this government. We've got to stop lurching from crisis to crisis to crisis when there's this clear path ahead of us that simply requires some discipline, some responsibility, and some compromise. That's where we need to go. That's how this needs to work.
 
     Major Garrett?
 
     QUESTION: Thank you, Mr. President. As you well know, sir, finding votes for the debt ceiling can sometimes be complicated. You yourselves as a member of the Senate voted against a debt ceiling increase. And in previous aspects of American history, President Reagan in 1985, President George Herbert Walker Bush in 1990, President Clinton in 1997 all signed deficit reduction deals that were contingent upon or in the context of raising the debt ceiling. You yourself four times have done that; three times those were related to deficit reduction or budget maneuvers.
 
     What Chuck and I and I think many people are curious about is this new adamant desire on your part not to negotiate when that seems to conflict with the entire history in the modern era of American presidents in the debt ceiling and your own history on the debt ceiling. And doesn't that suggest that we are going to go into a default situation, because no one is talking to each other about how to resolve this?
 
     OBAMA: Well, no, Major. I think if you look at the history, getting votes for the debt ceiling is always difficult and budgets in this town are always difficult. I went through this just last year. But what's different is we never saw a situation as we saw last year in which certain groups in Congress took such an absolutist position that we came within a few days of defaulting.
 
     And, you know, the fact of the matter is, is that we have never seen the debt ceiling used in this fashion, where the notion was, you know what, we might default unless we get 100 percent of what we want. That hasn't happened.
 
     Now, as I indicated before, I'm happy to have a conversation about how we reduce our deficits further in a sensible way, although one thing I want to point out is that the American people are also concerned about how we grow our economy, how we put people back to work, how we make sure that we finance our workers getting properly trained and our schools are giving our kids the education we deserve. There's a whole growth agenda which will reduce our deficits that's important, as well.
 
     OBAMA: But what you've never seen is the notion that has been presented so far at least by the Republicans that deficit reduction will only count spending cuts, that we will raise the deficit -- or the debt ceiling dollar for dollar on spending cuts. There are a whole set of rules that have been established that are impossible to meet without doing severe damage to the economy. And so what we're not going to do is put ourselves in a position where in order to pay for spending that we've already incurred, that our two options are; we're either going to profoundly hurt the economy, and hurt middle- class families, and hurt seniors, and hurt kids who are trying to go to college, or alternatively we're going to blow up the economy. We're not going to do that.
 
     (OFF-MIKE)
 
     QUESTION: (Inaudible) three-month extension for this? What ever Congress sends you, you're OK with?
 
     OBAMA: No, not whatever Congress sends me. They're going to have to send me something that's sensible. And we shouldn't be doing this...
 
     (CROSSTALK)
 
     OBAMA: ...then we should -- and we shouldn't be doing this on a one to three month time frame. Why would we do that? This is the United States of America, Major. Why -- what -- we can't manage our affairs in such a way that we pay our bills? And we provide some certainty in terms of how we pay our bills? Look I -- I don't -- I don't think anybody would consider my position unreasonable here. The -- I have...
 
     (CROSSTALK)
 
     (OFF-MIKE)
 
     QUESTION: (Inaudible) talk about this on a daily basis
(inaudible.)
 
     OBAMA: Major, the -- I am happy to have a conversation about how we reduce our deficits. I am not going to have a monthly, or every three months conversation about whether or not we pay our bills. Because that, in and of itself does severe damage. Even the threat of default hurts our economy. It's hurting our economy as we speak. We shouldn't be having that debate.
 
     OBAMA: If we want to have a conversation about how to reduce our deficit, let's have that. We've been having that for the last two years. We just had an entire campaign about it. And by the way, the American people agreed with me, that we should reduce our deficits in a balanced way, that also takes into account the need for us to grow this economy, and put people back to work.
 
     And despite that conversation, and despite the election results, the position that's been taken, on the part of some House republicans, is that, "Nope, we gotta do it our way. And if we don't, we simply won't pay America's bills."
 
     Well, you know, that -- that can't be -- that can't be a position that is sustainable over time. It's not one that's good for the economy now. It's certainly not going to be the kind of precedent that I want to establish, not just for my presidency, but for future presidents. Even if it was on the other side.
 
     Democrats don't like voting for the debt ceiling when a Republican's president. And yet, you -- you -- but you never saw a situation in which Democrats suggested somehow that we would go ahead and default if we didn't get 100 percent of our way. That's just not how it's supposed to work.
 
     Jon Karl?
 
     QUESTION: Thank you, Mr. President.
 
     On the issue of guns, given how difficult it will be, some would say, impossible, to get any gun control measure passed through this Congress, what are you willing or able to do using the powers of your presidency to act without Congress?
 
     And -- and I'd also like to know, what do you make of these long lines we're seeing at gun shows and gun stores all around the country? I mean, even in Connecticut, applications for guns are up since the shooting in Newtown.
 
     OBAMA: Well, my understanding is the vice president's going to provide a range of steps we can take to reduce gun violence. Some of them will require legislation, some of them I can accomplish through executive action. And so I'll be reviewing those today, and as I said, I'll speak in more detail to what we're going to go ahead and propose later in the week.
 
     But I'm confident that there are some steps that we can take that don't require legislation and that are within my authority as president. And where you get a step that has the opportunity to reduce the possibility of gun violence, then I want to go ahead and take it.
 
     QUESTION: (inaudible) any idea of what the (inaudible)?
 
     OBAMA: Well, I think, for example, how we are gathering data, for example, on guns that fall into the hands of criminals and how we track that more effectively. There may be some steps that we can take administratively as opposed to through legislation.
 
     As far as people lining up and purchasing more guns, I think that we've seen for some time now that those who oppose any common sense gun control or gun safety measures have a pretty effective way of ginning up fear on the part of gun owners that somehow the federal government's about to take all your guns away. And, you know, there's probably an economic element to that. It obviously is good for business, but I think that those of us who look at this problem have repeatedly said that responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, they don't have anything to worry about.
 
     OBAMA: The issue here is not whether or not we believe in the Second Amendment. The issue is: Are there some sensible steps that we can take to make sure that somebody like the individual in Newtown can't walk into a school and gun down a bunch of children in a -- in a shockingly rapid fashion?
 
     And surely we can do something about that. And -- you know, but -- but part of the challenge that, you know, we confront is, is that even the slightest hint of some sensible, responsible legislation in this area fans this notion that somehow here it comes and that everybody's guns are going to be taken away. It's unfortunate, but that's the case, and if you look over the first four years of my administration, we've tried to tighten up and enforce some of the laws that were already on the books. But it'd be pretty hard to argue that somehow gun-owners have had their rights infringed.
 
     QUESTION: (OFF-MIKE)
 
     OBAMA: Excuse me?
 
     QUESTION: (OFF-MIKE)
 
     OBAMA: Well, as I said, I think it's a fear that's fanned by those who are -- are worried about the possibility of any legislation getting out there.
 
     Julianna Goldman?
 
     QUESTION: Thank you, Mr. President. I just want to come back to the debt ceiling, because in the summer of 2011, you said that you wouldn't negotiate on the debt ceiling, and you did. Last year, you said that you wouldn't extend any of the Bush tax cuts for the wealthy, and you did. So as you say now that you're not going to negotiate on the debt ceiling this year, why should House Republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down?
 
     OBAMA: Well, first of all, Julianna, let's take the example of this year and the fiscal cliff. I didn't say that I would not have any conversations at all about extending the Bush tax cuts. What I said was, we weren't going to extend Bush tax cuts for the wealthy. And we didn't.
 
     Now, you can argue that during the campaign, I said -- I set the criteria for wealthy at $250,000, and we ended up being at $400,000, but the fact of the matter is, millionaires, billionaires are paying significantly more in taxes, just as I said.
 
     So from -- you know, from the start, my concern was making sure that we had a tax code that was fair and that protected the middle class. And my biggest priority was making sure that middle class taxes did not go up. You know, the difference between this year and 2011 is the fact that we've already made $1.2 trillion in cuts. And at -- at the time, I indicated that there were cuts that we could sensibly make that would not damage our economy, would not impede growth.
 
     I said at the time, I think we should pair it up with revenue in order to have an overall balanced package, but my own budget reflected cuts in discretionary spending. My own budget reflected the cuts that needed to be made. And we've made those cuts. Now, the challenge going forward is that we've now made some big cuts. And if we're going to do further deficit reduction, the only way to do it is in a balanced and responsible way.
 
     OBAMA: The alternative is for us to go ahead and cut commitments that we've made on things like Medicare or Social Security or Medicaid and for us to fundamentally change commitments that we've made, to make sure that seniors don't go into poverty, or that children who are disabled, are properly cared for. For us to -- to change that contract we've made with the American people, rather than look at options like closing loopholes for corporations that they don't need.
 
     That points to a long-term trend in which you know we have fundamentally, I think, undermined what people expect out of this government, which is that parties sit down, they negotiate, they compromise, but they also reflect the will of the American people that you don't have one narrow faction that able -- is able to simply dictate 100 percent of what they want all the time, or otherwise threaten that we destroy the American economy.
 
     Another way of putting it is, we've got to break the habit of negotiating through crisis over and over again. And now that we've -- now is as good a time as any, at the start of my second term. Because if we continue down this path, then there's really no stopping the principle. I mean literally -- even in divided government, even where we've got a Democratic president, and a Democratic Senate, and that a small group in the House of Representatives could simply say, you know every two months, every three months, every six months, every year we are going to more and more change the economy in ways that we prefer, despite strong objections of Americans all across the country, or otherwise we're going to have America not pay its bills.
 
     OBAMA: And, you know that is no way for us to do business.
 
     And, by the way, I would make the same argument if it was a republican president, and a republican senate, and you had a handful of democrats who were suggesting that we are gonna hijack the process and make sure that either we get our way 100 percent of the time, or otherwise, you know, we are going to default on America's obligations.
 
     QUESTION: (inaudible)?
 
     OBAMA: No, no look, what I've said is, is that I'm happy to have a conversation about deficit reduction.
 
     QUESTION: (inaudible)?
 
     OBAMA: No, Julianna, look, this -- this is pretty straightforward. Either Congress pays its bills, or it doesn't.
 
     Now, if -- and they want to keep this responsibility, if John Boehner and Mitch McConnell think that they can come up with a plan that somehow meets their criteria that they've set for why they will -- when they will raise the debt ceiling, they're free to go ahead and try.
 
     But the proposals that they've put forward, in order to accomplish that, only by cutting spending, means cuts to things like Medicare and education, that the American people profoundly reject.
 
     Now, if they think that they can get that through Congress, then they're free to try. But I think that a better way of doing this is to go ahead and say, "We're going to pay our bills." The question now is, how do we actually get our deficit in a manageable, sustainable way. And that's a conversation I'm happy to have.
 
     OBAMA: All right.
 
     Matt Spetaling (ph).
 
     QUESTION: Thank you, sir.
 
     You've spoken extensively about the debt ceiling debate, but some Republicans have further said that they're willing to allow a government shutdown to take place rather than put off deep spending cuts.
 
     Are you prepared to allow the government to grind to a halt if you disagree with the spending cut proposals they put forth? And who do you think the American people would blame if that came to pass?
 
     OBAMA: Well, ultimately Congress makes the decisions about whether or not we spend money and whether or not we keep this government open. And if the Republicans in Congress have made a decision that they want to shut down the government in order to get their way, then they have the votes, at least in the House of Representatives, probably to do that.
 
     I think that would be a mistake. I think it would be profoundly damaging to our economy. I think it would actually add to our deficit because it will impede growth. I think it's short-sighted. But they're elected representatives and folks put them into -- into those positions and they're going to have to make a decision about that.
 
     And I don't -- I suspect that the American people would blame all of Washington for not being able to get its act together. But -- but the larger issue here has to do with what is it that we're trying to accomplish. Are we trying to reduce the deficit? Because if we're trying to reduce the deficit, then we can shape a bipartisan plan to reduce the deficit.
 
     I mean, is that really our objective? Our concern is that we're spending more than we take in. And if that's the case, then there's a way of balancing that out so that we take in more money, increasing revenue, and we reduce spending. And there's a recipe for getting that done.
 
     OBAMA: And in the conversation that I had with Speaker Boehner before the end of the year, we came pretty close. I mean, a few hundred billion dollars separating us when stretched out over a 10- year period, that's not a lot.
 
     But it seems as if what's motivating and propelling at this point some of the House Republicans is more than simply deficit reduction. They have a particular vision about what government should and should not do, so they are suspicious about government's commitments, for example, to make sure that seniors have decent health care as they get older. They have suspicions about Social Security. They have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research.
 
     So they've got a particular view of what government should do and should be. And, you know, that view was rejected by the American people when it was debated during the presidential campaign. I think every poll that's out there indicates that the American people actually think our commitment to Medicare or to education is really important, and that's something that we should look at as a last resort in terms of reducing the deficit, and it makes a lot more sense for us to close, for example, corporate loopholes before we go to putting a bigger burden on students or seniors.
 
     But if the House Republicans disagree with that and they want to shut down the government to see if they can get their way on it, that's their -- that's their prerogative. That's how the system's set up. It will damage our economy. The government is a big part of this economy.
 
     And it's interesting that a lot of times you have people who recognize that when it comes to defense spending. Some of the same folks who say we've got to cut spending or complain that government jobs don't do anything, when it comes to that defense contractor in their district, they think, "Wow, this is a pretty important part of the economy in my district and we shouldn't stop spending on that. Let's just make sure we're not spending on those other folks."
 
     QUESTION: (OFF-MIKE)
 
     OBAMA: Well, you know, look, my hope is, is that common sense prevails. You know, that's always my -- my preference.
And I think that would be the preference of the American people, and that's what would be good for the economy.
 
     So let me just repeat: If the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then Democrats and Republicans in Congress will have a partner with me. We can achieve that and, you know, we can achieve it fairly quickly.
I mean, we know what the numbers are, we know what needs to be done, we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit.
There's probably been more pain and drama in getting there than we needed.
 
     And so finishing the job shouldn't -- shouldn't be that difficult, if everybody comes to the conversation with an open mind and if we recognize that there are some things, like not paying our bills, that should be out of bounds.
 
     I'm going to take one last question. Jackie Calmes?
 
     QUESTION: Thank you, Mr. President.
 
     QUESTION: I'd like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms, one that's longstanding, another more recent. The longstanding one seems to have become a truism of sorts, that you're -- you and your staff are too insular, that you don't socialize enough. And the second, the more recent criticism, is that your team taking shape isn't diverse -- isn't as diverse as it could be, or even was in terms of getting additional voices, gender, race, ethnic diversity.
 
     So, I'd like you to address both of those.
 
     OBAMA: Sure, let me -- let me take the -- the second one first.
 
     You know, I'm very proud that in the first four years, we had as diverse, if not a more diverse, a White House and a cabinet than any in history. And I intended to continue that, because it turns out when you look for the very best people, given the incredible diversity of this country, you're going to end up with a diverse staff and a diverse -- a diverse team, and that very diversity helps to create more effective policy making, and better decision making for me, because it brings different perspectives to the table.
 
     So if you think about my first four years, the person who probably had the most influence on my foreign policy was a woman. The people who were in charge of moving forward my most important domestic initiative, health care, were women.
The person in charge of our Homeland Security was a woman. My two appointments to the Supreme Court were women. And 50 percent of my White House staff were women.
 
     OBAMA: So, I think people should expect that, that record will be built on during the next four years. Now, I've made what -- four appointments so far? And one woman -- admittedly a high profile one -- is leaving the administration -- has already left the administration, and I have made a replacement. But I would just suggest that everybody kind of wait until they've seen all my appointment, who is in the White House staff and who is in my cabinet, before they rush to judgment.
 
     (OFF-MIKE)
 
     QUESTION: (Inaudible.)
 
     OBAMA: But I -- I -- I guess what I'm saying Jackie, is -- is that I think until you've seen what my overall team looks like, it's premature to -- to assume that somehow we're going backwards. We're not going backwards, we're going forward. With respect to the -- this truism about me not socializing enough, and patting folks on the back and all that stuff, most people who know me know I -- I'm a pretty friendly guy.
 
     And I like a good party. And you know the truth is that, you know when I was in the Senate, I had great relationships over there, and up until the point that I became president, this was not an accusation that you heard very frequently. I think that -- I think -- I think that really what's gone on in terms of some of the paralysis here in Washington, or difficulties in negotiations, just have to do with some very stark differences in terms of policy.
 
     OBAMA: Some very sharp differences in terms of where we stand on issues, and you know if you think about, let's say myself and Speaker Boehner, I like Speaker Boehner personally. And when we went out and played golf, we had a great time. But that didn't get a deal done in 2011. You know when I -- when I'm over here at the congressional picnic, and folks are coming up and taking pictures with their family, I promise you, Michelle and I are very nice to them, and we have a wonderful time.
 
     But it doesn't prevent them from going onto the floor of the House and, you know, blasting me for being a big-spending socialist. And -- and the reason that, you know, in many cases Congress votes the way they do or talks the way they talk, or takes positions in negotiations that they take, doesn't have to do with me. It has to do with the imperatives that they feel in terms of their own politics. Right? They're worried about their district. They're worried about what's going on back home.
 
     I think there are a lot of Republicans at this point that feel that given how much energy has been devoted in some of the media that's preferred by Republican constituencies to demonize me, that it doesn't look real good socializing with me. Charlie Crist down in Florida I think testifies to that.
And I think a lot of folks say, "Well, you know, if we look like we're being too cooperative or too chummy with the president, that might cause us problems; that might be an excuse for us to get a challenge from somebody in a primary."
 
     So -- so that tends to be the challenge. I promise you, we invite folks from Congress over here all the time. And I
-- and when they choose to come, I enjoy their company. Sometimes they don't choose to come, and that has to do with the fact that I think they don't consider the optics useful for them politically.
 
     OBAMA: And ultimately, the way we're going to get stuff done, personal relationships are important. And obviously, I can always do a better job. And the nice thing is is that now that my girls are getting older, they don't want to spend that much time with me anyway, so I'll be probably calling around, looking for somebody to play cards with me or something, because I'm getting kind of lonely in this big house. So maybe -- maybe a whole bunch of members of the House Republican caucus want to come over and socialize more.
 
     But my suspicion is, getting the issues resolved that we just talked about, the big stuff, whether or not we get sensible laws passed to prevent gun violence, whether or not America's paying its bills, whether or not we get immigration reform done, all that's going to be determined largely by where the respective parties stand on policy and, maybe most importantly, the attitude of the American people.
 
     Now, if the American people feel strongly about these issues and they push hard and they reward or don't reward members of Congress with their votes, you know, if -- if they reject sort of uncompromising positions or sharp partisanship or always looking out for the next election and they reward folks who are trying to find common ground, then I think you'll see behavior in Congress change. And that'll be true whether I'm the life of the party or a stick in the mud.
 
All right? Thank you very much, everybody.

 

Transcript via Bloomberg

 

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Mon, 01/14/2013 - 14:02 | 3151241 flacon
flacon's picture

Hey Obama, guess what? You fucking dead beat!

http://www.hangthebankers.com/wp-content/uploads/2012/12/Obama-smoking-w...

 

Mon, 01/14/2013 - 14:02 | 3151258 NemoDeNovo
NemoDeNovo's picture

Just LET it BURN so we [who are left] can build anew and hopefully a better system then the one we currently have.

Mon, 01/14/2013 - 14:07 | 3151284 CrockettAlmanac.com
CrockettAlmanac.com's picture

 

We've got to stop lurching from crisis to crisis to crisis when there's this clear path ahead of us that simply requires some discipline, some responsibility, and some compromise. That's where we need to go. That's how this needs to work.

 

It takes a guy from Harvard to posit that going trillions deeper into depth is the responsible thing to do.

Mon, 01/14/2013 - 14:09 | 3151314 SheepDog-One
SheepDog-One's picture

The only thing they HAVE is the 'crisis, talking, crisis better than expected, crisis again' circle of BULLSHIT to go on!

Mon, 01/14/2013 - 14:21 | 3151388 trav777
trav777's picture

"this sucker could go down."

Where is Busch when we need him!?!?!

Mon, 01/14/2013 - 14:30 | 3151417 strannick
strannick's picture

"there's this clear path ahead of us that simply requires some discipline, some responsibility"

some more taxes, some more spending...some more trillion and a half dollar deficets, some more debt ceiling hikes, some more unregulated shadow banking, some more enuch-like regulators fawning to banks,


Mon, 01/14/2013 - 14:41 | 3151485 AldousHuxley
AldousHuxley's picture

cops in California claim they won't come to your house for petty theft because there are only handful cops left due to budget crisis while in the underground parking lot you see cops sleeping in their car.

 

discipline and responsibility should be applied to public pensioners, executives of companies with falling stock, politicians and bankers.

 

look around....most americans in the private sector are working like slaves competing with 3rd world factory labor abroad or illegal aliens at home.

 

let home prices fall with market to market on banks' balance sheets, let universities be responsible with student debt, let tea party welfare cases live without welfare.....

 

 

 

 

 

Mon, 01/14/2013 - 14:50 | 3151548 dark pools of soros
dark pools of soros's picture

you keep rallying the crash of homeprices...  gotta ask, what is your play here?  Your wife take your home in a recent divorce or something?

 

 

Mon, 01/14/2013 - 15:12 | 3151656 Richard Chesler
Richard Chesler's picture

Not deadbeat. A vibrant banana republic.

 

Mon, 01/14/2013 - 16:02 | 3151849 GetZeeGold
GetZeeGold's picture

 

 

Not deadbeat. Not Paris Hilton living on her daddy's credit cards either.

Mon, 01/14/2013 - 15:46 | 3151668 redpill
redpill's picture

Isn't it funny how the very millisecond someone even threatens to take away these addicts' credit crackpipe, the immediate threat is that services to old people and injured veterans have to be cut.  Because gosh, there just is NO OTHER WAY we could possibly save money, right?  

And it really pisses me off when government pricks talk about "paying our bills" - we aren't paying jack shit.  We're printing the money and devaluing our currency.  Our CHILDREN and THEIR CHILDREN will be paying OUR bills.  We are stealing from future generations AND THERE IS ABSOLUTELY NOTHING RESPONSIBLE ABOUT IT.

Mon, 01/14/2013 - 16:03 | 3151848 Raymond Reason
Raymond Reason's picture

Can't send out SS checks?   But they said all the SS money is sitting in a lock box.  How about you send the Depts of Energy and Education home for while, you know, while we wait for the green shoots to bloom?  NSA and CIA could work for minimum wage, they are public servants right? 

Mon, 01/14/2013 - 16:15 | 3151885 redpill
redpill's picture

Well Obama says we don't need guns, maybe they could furlough his secret service detail?

Mon, 01/14/2013 - 17:19 | 3152096 Theosebes Goodfellow
Theosebes Goodfellow's picture

Red, they've been playing that game here in California for twenty years. With us it's schools. The first thing Jerry Brown threatened to cut was school money, (not CARB, (California Air Resources Board), or CalTrans). And you won't see Obama threaten to cut or eliminate DHS, TSA, EPA or HUD.

Mon, 01/14/2013 - 17:23 | 3152106 Apostate2
Apostate2's picture

Rhetorical human shields

Mon, 01/14/2013 - 18:04 | 3152247 Turin Turambar
Turin Turambar's picture

While I get your point, I would recommend a small correction.  The US government already saddled the next 2 or 3 generations with debt over a decade ago.  It is way past "children" and "grandchildren" at this point.  This is a canard anyway.  What do they care?  Like Keynes said, "In the end we're all dead anyway." (or something to that effect.

I'm just curious, but how many of you signed the so-called "social compact" that we are all coerced to live under?  I never signed jack chit.

As to the argument that "we" are the government and that we are obligated to live under it, since we were born here, I'd refer you to the Jews in Germany who were born there and voted when Hitler came to power.  It would logically follow then that when the government rounded up the Jews for extermination, since "we" are the government, the Jews committed suicide.

Taxation is theft - Abolish the IRS

Fiat currency and money printing if fraud and theft - Abolish the Fed and return to free-market hard money

 

The solutions to our problems are not that complex, but those in power will not passively relinquish their control over the use of coercion to continue rob us and enrich themselves and their cronies.

From "The Ethics of Liberty" by Murray N. Rothbard:

"[T]he nineteenth-century German sociologist Franz Oppenheimer put the matter succinctly when he pointed out that there are two and only two ways of attaining wealth in society: (a) by production and voluntary exchange with others—the method of the free market; and (b)by violent expropriation of the wealth produced by others. The latter is the method of violence and theft. The former benefits all parties involved; the latter parasitically benefits the looting group or class at the expense of the looted. Oppenheimer trenchantly termed the former method of obtaining wealth, “the economic means,” and the latter “the political means.” Oppenheimer then went on brilliantly to define the State as “the organization of the political means.”

 

 

Mon, 01/14/2013 - 14:55 | 3151580 walküre
walküre's picture

That pretty much describes the end stage of the USSR before their fantasy economy imploded.

The fall of the USSR was due to the fact that the Kremlin couldn't send cheques to their military and that the cheques wouldn't cover enough to buy the essentials for your daily survival.

We are at that point now.

The race to the bottom for the private sector is in full swing. The public sector lives in Lala Land still thinking their payments will continue and even if they do, that the payments will be worth anything.

It's one craptastic crap shoot from here.

Mon, 01/14/2013 - 15:00 | 3151600 CrockettAlmanac.com
CrockettAlmanac.com's picture

Just spent 13 minutes on the phone with an Obama fund raiser. I gave him every ZH argument in the book and then some but he still kept on asking for cash. Finally had to hang up on him while he was going on and on...

Mon, 01/14/2013 - 15:46 | 3151803 redpill
redpill's picture

I trust you'll never waste your time like that again, you won't ever get those 13 minutes back!

Mon, 01/14/2013 - 16:07 | 3151865 CrockettAlmanac.com
CrockettAlmanac.com's picture

It was funny for a few minutes. He's the only person who ever answered my lesser of two evils question: "Would you rather be hit on the head with a hammer or a crowbar." He picked crowbar. The idea that one should simply refuse to make a choice and take steps to avoid the beating was outside the realm of possibilities he was willing to consider.

Mon, 01/14/2013 - 16:45 | 3151994 TuesdayBen
TuesdayBen's picture

Why is Obooba trying to raise money?

Mon, 01/14/2013 - 17:29 | 3152128 CrockettAlmanac.com
CrockettAlmanac.com's picture

Probably just general Democrat money raised in the name of The Messiah.

Mon, 01/14/2013 - 19:49 | 3152555 lakecity55
lakecity55's picture

To build the Shrine we will have to worship after Satan fully possesses him.

Tue, 01/15/2013 - 00:37 | 3153254 A Nanny Moose
A Nanny Moose's picture

You should have asked if they would prefer a chinese made wood handled vs. composite handled hammer.

Back I go to re-teach myself how to weld, and solder.

Mon, 01/14/2013 - 15:04 | 3151623 Jon Bong Jovi
Jon Bong Jovi's picture

"let home prices fall with market to market on banks' balance sheets, let universities be responsible with student debt, let tea party welfare cases live without welfare....."

Not likely that would require us to face the the fact that we do live in reality and not some credit induced wonderland.

Tue, 01/15/2013 - 07:39 | 3153547 Go Tribe
Go Tribe's picture

I like it. A certain level of warfare is now acceptable to The Powers. Just like a level of credit card writeoffs is acceptable to banksters. And if you STILL don't have a year's worth of ammo, there is still time to buy it.

Mon, 01/14/2013 - 15:08 | 3151636 Zap Powerz
Zap Powerz's picture

If they stopped paying soldiers, does that mean we get to bring them home and stop blowing up other countries for freedom?

Mon, 01/14/2013 - 15:18 | 3151684 TPTB_r_TBTF
TPTB_r_TBTF's picture

The Lost Legions will have to fend for themselves.  It sucks to be them.

Mon, 01/14/2013 - 16:09 | 3151872 NeedtoSecede
NeedtoSecede's picture

Zap, your question reminds me of my days in the USAF.  OT slightly, but just one more example of how fucked up everything the gooberment touches can become.  I served during the first gulf war and when I was sent into the combat zone, I got paid less!  You heard me, I got paid less to get shot at.  My case was not unique, but that time was when I began to question everything.  And the more I questioned, the more I realized how fucked up it all was/is.  As I left the USAF, I warned my comrads that they would be "entangled" in that part of the world for many years to come and I only hoped it would not lead to WWIII.

We are so screwed.

Mon, 01/14/2013 - 17:01 | 3152035 formadesika3
formadesika3's picture

My son just got back from Afgarrististan couple months ago. His unit is expected to redeploy in December. There's a good chance that won't happen. He's out in May 2014. I'm keeping my fingers crossed they don't send him. That would be a sketchy situation just when our forces are winding down there.

Mon, 01/14/2013 - 18:17 | 3152295 The Alarmist
The Alarmist's picture

@Need, they just stopped your BAS & BAQ while deployed ... you didn't need them good allowances while living it up in Tent City, now did you?

We had a few times in the Reagan years when they shut down the govt, and we got the scare stories about how we wouldn't get paid, but we did. What I never heard was whether some welfare queen on ADC would be cut off along with the rest of us. These things never change.

Mon, 01/14/2013 - 16:41 | 3151975 koncaswatch
koncaswatch's picture

Ya trav, we all could use a beer right about now.

Tue, 01/15/2013 - 00:36 | 3153251 A Nanny Moose
A Nanny Moose's picture

Surely, you are not suggesting that there is a moduicum of differentiation between either wing of "The Party"

Mon, 01/14/2013 - 14:24 | 3151394 MillionDollarBonus_
MillionDollarBonus_'s picture

I’d like to take this opportunity to invite the ZH community to participate in a once in a lifetime opportunity to run your own business and earn thousands of dollars every month by promoting health and well-being across the world.

I’ve just quit my job to become a full-time Herbalife independent distributor. What I do is I spread Herbalife’s unique world class products to healthy eaters not just in America but all over the world. I truly believe that Herbalife’s products are the best in the world. If I didn’t, I wouldn’t have given up a lucrative career in finance to join the distributor program. I'm so excited about this oportunity! 

There are so many reasons to become a Herbalife distributor. Firstly, there’s big money involved. Some distributors earn in excess of $1,000 in the first month! Secondly, Herbalife is dedicated to spreading good health all around the world which is part of Michelle Obama’s plan to end obesity and bad eating habits. Who doesn't want to make themselves and others healthy while making some serious money!? Lastly, Herbalife offers its distributors fully paid-for holidays to exotic locations around the world. This year I'm hoping to qualify for a full vacation to Greece, all expenses included :) 

If you’re interested in joining, please PM me and I’ll sign you up.

 

Mon, 01/14/2013 - 14:24 | 3151407 fuu
fuu's picture

Facbook margins kicking your ass?

Mon, 01/14/2013 - 14:47 | 3151428 hedgeless_horseman
hedgeless_horseman's picture

 

 

to participate in a once in a lifetime opportunity to run your own business and earn thousands of dollars every month

Fuck...tough decision...should I quit my job and move to Las Vegas so I can buy foreclosures from the banks and make millions flipping them, just like that paid actor regular guy on television with the paid actress hot decorator for a wife?  Or should I make a killing selling useless pills to my close friends and family members from the comfort of my own car? 

America, land of opportunity!

Mon, 01/14/2013 - 14:50 | 3151540 AldousHuxley
AldousHuxley's picture

america, land of opportunity for super rich to exploit labor or super poor to get welfare

 

Huge natural resources with budget surplus and only 30,000,000 population = land of opportunity

 

300,000,000 population with open borders with shitty infrastructure value (healthcare, education, debt spending) not so much

 

 

get out and see how wealthy communists have become!!!

 

 

Mon, 01/14/2013 - 17:15 | 3152082 trav777
trav777's picture

huh?

the healthcare infrastructure here is without peer.

the education system is among the best in the world.  WTF are you babbling about?

Oh, you included brown people.  Well, don't include freakin 3rd worlders and expect a 1st world outcome.

Tue, 01/15/2013 - 07:41 | 3153548 Go Tribe
Go Tribe's picture

Viaticals, baby!

Mon, 01/14/2013 - 14:37 | 3151470 azzhatter
azzhatter's picture

I always thought you were Ackman's manicurist?

Mon, 01/14/2013 - 14:43 | 3151491 Blano
Blano's picture

With the day I'm having at work, I really needed that laugh.

Mon, 01/14/2013 - 14:52 | 3151560 Saro
Saro's picture

I actually laughed out loud.  Thanks for that.

Mon, 01/14/2013 - 14:59 | 3151591 walküre
walküre's picture

Haha. How many storage lockers and garages have you filled with the junk? It's common sense that if you stop eating crap entirely and only drink a bit of a healthy potion, that you'll loose weight. Don't need to pay hundreds of Dollars for the junk to figure that one out. Just blend some spinach or broccoli and keep drinking nothing but that for a week. I guarantee you will loose 10 pounds at least.

Mon, 01/14/2013 - 15:36 | 3151770 BandGap
BandGap's picture

You mean GerbilLife, right? Because you're going to get it in the ass anyway.....

Thu, 01/17/2013 - 23:34 | 3153442 MeelionDollerBogus
MeelionDollerBogus's picture

And now in other news ... Federal Reserve sends not one but TWO cease & desist orders to none other than JP Morgan.

No seriously... I'M SUPER CEREAL THIS TIME ... another ZH'er mentioned it & a reply to MDB is the perfect place to insert what you may or may not suspect to be /sarc

SUPER CEREAL CEASE AND DESIST re: CIO and re: (2nd) money-laundering

... original comment

Tue, 01/15/2013 - 00:44 | 3153267 Colonel Klink
Colonel Klink's picture

Never let a good crisis go to waste!

-Rahm "I'm  a scumbag" Emmanuel

Mon, 01/14/2013 - 14:12 | 3151330 NemoDeNovo
NemoDeNovo's picture

It takes a guy from Harvard to posit that going trillions deeper into depth is the responsible thing to do.

 

It takes a [?] from Harvard to sell that line to the [du]Masses, as they need an "Expert" to tell them what to think, so they can accept it as a "New Normal"

Mon, 01/14/2013 - 14:22 | 3151398 Ying-Yang
Ying-Yang's picture

"Now, I've said I'm open to making modest adjustments to programs like Medicare to protect them from future generations."

Really? protect them from future generations WTF?

Tue, 01/15/2013 - 00:34 | 3153247 A Nanny Moose
A Nanny Moose's picture

If you are referring to The Kruggybear, he is from MIT, is he not?

Mon, 01/14/2013 - 14:12 | 3151323 vast-dom
vast-dom's picture

we are not a deadbeat nation and i was never involved in any doping schemes. full oprah confessionals coming soon. ponzi nation of con-men and crooks.

Mon, 01/14/2013 - 14:06 | 3151280 redpill
redpill's picture

Can anyone please explain how this man is not already a dictator? 

Mon, 01/14/2013 - 14:12 | 3151336 Bad Attitude
Bad Attitude's picture

Sorry, Dear Leader acts and sounds more like a dictator every day. And, any criticism of Dear Leader is vociferously denounced.

Mon, 01/14/2013 - 14:22 | 3151378 SilverRhino
SilverRhino's picture

"My understanding is the vice president's going to provide a range of steps that we can take to reduce gun violence," said Obama. "Some of them will require legislation, some of them I can accomplish through executive action. And so I will be reviewing those today, and as I said, I will speak in more detail to what we're going to go ahead and propose later in the week. But I'm confident that there are some steps that we can take that don't require legislation and that are within my authority as president, and where you get a step that, has the opportunity to reduce the possibility of gun violence, then i want to go ahead and take it."  - Obama 1/14/2013 

 

Executive Action means that Obama is going to attempt to bans guns all by himself. 


And here is how he is going to probably do it. 

Text from the 1934 National Firearms Act 

(b) Machinegun. -- The term "machinegun" means any weapon which shoots, is designed to shoot, or can be readily restored to shoot, automatically more than one shot, without manual reloading, by a single function of the trigger. The term shall also include the frame or receiver of any such weapon, any part designed and intended solely and exclusively, or combination of parts designed and intended, for use in converting a weapon into a machinegun, and any combination of parts from which a machinegun can be assembled if such parts are in the possession or under the control of a person.


By REALLY REALLY reaching .... or can be readily restored to shoot .... can be used and made to apply to all semiautomatic weapons. After all, it only takes less than 100 grams of metal to turn a semiauto into a machinegun [using liberal logic] 

And THAT is how I think he is going to do it. All semi's registered under the NFA as machineguns using an EO to further define the regulatory environment we already operate under.

 

Mon, 01/14/2013 - 14:33 | 3151442 HellFish
HellFish's picture

You would have to stretch the meaning of "readily" beyond any resonable definition of the word.

Mon, 01/14/2013 - 14:45 | 3151510 SilverRhino
SilverRhino's picture

Like these guys are playing by the rule of law.  

Mon, 01/14/2013 - 15:19 | 3151693 Nick Jihad
Nick Jihad's picture

That's your opinion. A "wise latina" might reach a "better" decision. Obama is going to appoint more Supremes this term.

 

Mon, 01/14/2013 - 14:20 | 3151386 formadesika3
formadesika3's picture

This guy is such a liar. Typical partisan politics.

But I repeat myself.

Mon, 01/14/2013 - 15:00 | 3151602 Zap Powerz
Zap Powerz's picture

I wrote my republican congressman and told him to give everything Obama wants AND MOAR!  I encouraged my congressman to increase the debt ceiling to a quadrillion.

I would like to hear Obama say that there is actually a debt limit somewhere past which bad things will happen.  I figure we passed that point long ago, but i didnt go to harvard.  So I would like the economic geniuses from Harvard to tell us what amount of debt is too much and then just print that amount now and be done with it.

of course this will never happen because the only way this fake, fucked up system keeps working is if everything remains confused, distorted, manipulated and giving the appearence of stability.

Mon, 01/14/2013 - 15:42 | 3151787 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

The not being able to pay the bills part is patiently false right from the get go. Obama is conflating debt with obligations which are 2 different things. This comes down to Section 4 of the 14th Amendment.

https://en.wikipedia.org/wiki/Fourteenth_Amendment_to_the_United_States_...

Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

With that said all incoming revenues need to be used first to pay off existing debt payments then the leftover revenue goes toward obligations.

There are 2 major debt liabilities that need to be serviced, first is interest payments on outstanding Treasury securities and social security payments. Social Security is considered a debt and not an obligation for the following reason. The Social Security trust fund is not a cash fund at all, those revenues they take in the spend right off the top and in turn the Treasury covers the borrowing by issuing special Treasury bonds which are certificate of indebtness IOU's. The main difference between a standard Treasury Bill and one issued against Social Security is the SS one can't be sold on the open market.

So as long as they bring enough revenues in each month in to cover payments for interest on Treasury Securities and Social Security they won't default period. The harsh spending cuts and resulting political and social mayhem that ensues is another story.

I might be missing some other debt liabilities but the basic mechanics are the same. I haven't looked but there should be some court cases that set the precedent between what is constituted as debt and an obligation. If it goes this far and drags on for longer than a few days I would bet at some point this very issue will make its way up to the SCOTUS to be ruled on for clarity purposes from here on in.

Mon, 01/14/2013 - 14:24 | 3151406 brewing
brewing's picture

he is becoming extremely reckless and dangerous...

Mon, 01/14/2013 - 14:46 | 3151513 Zap Powerz
Zap Powerz's picture

Redpill,

When Obama starts wearing a military uniform everywhere he goes, then youll know he is a real life dictator.  Until then, he is just pretending.

Mon, 01/14/2013 - 18:20 | 3152300 The Alarmist
The Alarmist's picture

He has been wearing that leather flight jacket a lot lately ....

Mon, 01/14/2013 - 14:46 | 3151515 formadesika3
formadesika3's picture

This president is not a dictator president. There.

/s

Mon, 01/14/2013 - 14:54 | 3151572 redpill
redpill's picture

'I was only an aspiring dictator. I was never a real dictator.'

-Augusto Pinochet

Mon, 01/14/2013 - 15:27 | 3151735 Ghordius
Ghordius's picture

Augusto would complain about being compared with any Democrat US President

Mon, 01/14/2013 - 14:06 | 3151288 slaughterer
slaughterer's picture

Tyler is pointing out, with incredibly sharp reasoning here, the irrational core of Obama's thinking.   Thank you.

This country is once again ready to make a fool of itself on the world's stage.

The scenes of this tragi-comedy are following one another faster and faster to the inevitable conclusion.

Mon, 01/14/2013 - 14:16 | 3151361 NewAmericaNow
NewAmericaNow's picture

Please Mastercard we need more credit so we can pay Visa and our American express.

Mon, 01/14/2013 - 15:33 | 3151760 Hippocratic Oaf
Hippocratic Oaf's picture

Followed by Discover card.....................

Mon, 01/14/2013 - 18:22 | 3152306 The Alarmist
The Alarmist's picture

The major credit card co's were easy to roll over on WikiLeaks, so why not tap them to finance the deficity?

Mon, 01/14/2013 - 14:34 | 3151454 azzhatter
azzhatter's picture

Obama has delivered some dumb speeches but this one ranks up there with the stupidest of all.

Mon, 01/14/2013 - 14:02 | 3151250 Racer
Racer's picture
"We Are Not A Deadbeat Nation"

HA HA ha, LOL ROFLMAO

Mon, 01/14/2013 - 14:04 | 3151270 THX 1178
THX 1178's picture

Technically we are a soon-to-be deadbaet nation.

Mon, 01/14/2013 - 14:13 | 3151342 Jonas Parker
Jonas Parker's picture

No, we're not a deadbeat nation. We're just broke...

Mon, 01/14/2013 - 14:26 | 3151410 FEDbuster
FEDbuster's picture

If we can "print", we can "pay".  What you recieve in payment may not buy anything of value, but you will get paid.  On that you have our full faith and credit.

Time to buy more beans, bullets and bullion.  Federal Reserve Notes, spend'em, if you got'em.

Mon, 01/14/2013 - 14:54 | 3151573 dark pools of soros
dark pools of soros's picture

..congress is full of terrorists and those that hate our freedom of spending...  send in the drones

Mon, 01/14/2013 - 14:03 | 3151254 Snakeeyes
Snakeeyes's picture

Yes we are, both civilians and corporations! And Obama, you have escalated deadbeats faster than anyone in recent history.

http://confoundedinterest.wordpress.com/2013/01/12/debt-star-federal-deb...

Mon, 01/14/2013 - 14:03 | 3151264 firstdivision
firstdivision's picture

We're not a deadbeat nation since it takes lots of work to pull off the largest con in recorded history.

Mon, 01/14/2013 - 14:03 | 3151266 hedgeless_horseman
hedgeless_horseman's picture

 

 

If congressional Republicans refuse to pay America's bills on time, Social Security checks, and veterans benefits will be delayed.

 

We might not be able to pay our troops, or honor our contracts with small business owners. Food inspectors, air traffic controllers, specialist who track down loose nuclear materials wouldn't get their paychecks. Investors around the world will ask if the United States of America is in fact a safe bet. Markets could go haywire, interest rates would spike for anybody who borrows money. Every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire.

 

It would be a self-inflicted wound on the economy. It would slow down our growth, might tip us into recession. And ironically it would probably increase our deficit. So to even entertain the idea of this happening, of the United States of America not paying its bills, is irresponsible. It's absurd.

 

As the speaker said two years ago, it would be, and I'm quoting Speaker Boehner now, "a financial disaster, not only for us, but for the worldwide economy."

Bring it. Rather this than the continued stealing from every person using the US Dollar.

Mon, 01/14/2013 - 14:05 | 3151277 traderjoe
traderjoe's picture

Default on the odious debt! Sovereign countries do not, and should not, have to borrow from private banking cartels - who create money for free - at interest and with the collateral of your future labor. 

End the Fed. End legal tender laws. Print United States Notes and allow Freegold. 

 

Mon, 01/14/2013 - 14:08 | 3151298 hedgeless_horseman
hedgeless_horseman's picture

 

 

Why does the President of the United States of America sound EXACTLY like a drug addict, making threats, and playing the victim?

Mon, 01/14/2013 - 14:12 | 3151334 CrockettAlmanac.com
CrockettAlmanac.com's picture

Choomerica!

Mon, 01/14/2013 - 14:21 | 3151392 traderjoe
traderjoe's picture

To answer your rhetorical question - he works not for the people, but the Bankers, the MIC, the mega-agro businesses, and the TPTB. 

Mon, 01/14/2013 - 14:58 | 3151590 dark pools of soros
dark pools of soros's picture

yup. he never said they wont pay the MIC.. just not the troops and other shmucks

 

so will there be a major real war before the market drops or after?   they are both tools of influence here

Mon, 01/14/2013 - 14:16 | 3151359 mr1963
mr1963's picture

If I remember right, the SS argument is a straw man argument anyway, Congress doesn't pay it, the federal reserve does. I think for veterans as well but not sure.

However, I your point.

Mon, 01/14/2013 - 14:04 | 3151271 Say What Again
Say What Again's picture

He's right - the people are not "dead-beat."

However, the federal government *IS* dead-beat and their spending *IS* out of control.

Mon, 01/14/2013 - 14:04 | 3151273 847328_3527
847328_3527's picture
N.Y. Gov. Andrew Cuomo: Presidential speculation

 

 

http://news.yahoo.com/blogs/ticket/n-y-gov-andrew-cuomo-presidential-spe...

Mon, 01/14/2013 - 14:06 | 3151283 JustObserving
JustObserving's picture

Any nation that has already printed $3.5 trillion and is now printing $85 billion a month cannot be a deadbeat nation.  A fraudulent nation, perhaps.  

Mon, 01/14/2013 - 14:18 | 3151370 NotApplicable
NotApplicable's picture

Well, that covers what, a dozen or so people?

Mon, 01/14/2013 - 14:06 | 3151290 JR
JR's picture

This debt is spiraling in trillions.

And the radical Left is misreading the November election as support for welfare, banker control and all the rest.

Voters, IMO, dismissed Romney because they really feared the growth of Empire. And the Republicans - their treatment of Ron Paul, their talk about Islam, their “we-can’t-cut-the-military-spending” mantra - looked out of control. And Romney was their poster boy.

And to cap it all off, Romney went to Israel for a fund raiser during the campaign. Did he go to Paris? London? No! It was Israel.

It is a false reading for the media to keep going back to the election to say Obama won it all.

 Americans did not say what we want is more illegal immigration, what we want is for the government to spend more money, what we want are more welfare programs, more restrictions on movement and privacy and people’s income, more war…

What they said is if you’re going to give us a choice between Obama and Romney, those of us who vote will take Obama. The 2012 election turned when Netanyahu was in the U.S. for a conference and Obama said he was too busy to meet with him. It was a signal that Obama’s foreign policy would be less aggressive in the Middle East than Romney’s. And with polls showing Americans increasingly weary of Middle Eastern wars, Obama began addressing the youth vote with a more contained foreign policy. And the polls showed almost an instant switch to Obama.

Obama’s gun control grab is a good example that his Adminstration is going way beyond its support.

Today is the point where the radical Left tries to take over the government and go to full control of the state, end runs around the Congress; and they don’t have the support of the people to do it.

And failing that change, they are going to be overcome with the people’s cry for a system change of better representation for what the people want.

Mon, 01/14/2013 - 14:22 | 3151391 NotApplicable
NotApplicable's picture

Well, JR, it looks like you've got the script down pat, FWIW.

Of course, why anyone would pay attention to it, rather than the fact that it's merely a front for organized crime, is beyond me.

Mon, 01/14/2013 - 14:07 | 3151295 lolmao500
lolmao500's picture

Obama, like a psychopath, using emotions to manipulate his victims into doing the sick things he has in mind.

Mon, 01/14/2013 - 14:14 | 3151348 IamtheREALmario
IamtheREALmario's picture

... and being the narcicistic clown that he is, he actually thinks that people are buying his B/S and not just laughing at his pathetic attempt at manipulation.

Mon, 01/14/2013 - 14:24 | 3151404 NotApplicable
NotApplicable's picture

"Now don't be sad.

Cuz 47 out of 100 ain't bad."

Mon, 01/14/2013 - 14:22 | 3151395 Freddie
Freddie's picture

The media, ALL of TV and Hollywood cheer it all on.  They do not want to be Aaron Swartz-ed. Evil media coward yet the sheep keep them in control by watching.

Mon, 01/14/2013 - 14:07 | 3151297 johnconnor
johnconnor's picture

Then Obama added "These are not the droids you are looking for"...

Mon, 01/14/2013 - 14:07 | 3151299 jubber
jubber's picture

Cue Gold ?

Mon, 01/14/2013 - 14:08 | 3151304 mr1963
mr1963's picture

Maybe not a deadbeat nation, but certainly a nation of deadbeats -- fully supported by the government...

Mon, 01/14/2013 - 14:10 | 3151321 JR
JR's picture

Channeling a former president, “I am not a crook, I mean, a deadbeat.”

Mon, 01/14/2013 - 14:08 | 3151306 poldark
poldark's picture

We pay our bills

Can I print money to pay my bills.

Mon, 01/14/2013 - 18:27 | 3152328 The Alarmist
The Alarmist's picture

"Bills" imply valu for value ... I guess that includes wealth transfer payments if the counter-value is absence of blood in the streets, right?

Mon, 01/14/2013 - 19:35 | 3152524 lakecity55
lakecity55's picture

I do not see why not. I have just hammered out a Billion $ Copper Coin. I need some help rolling oveer to Bennies for Benniebux.

I have a Jew Star on the obverse imprisoning George Washington within its center and a pictogram of the Talmud on the reverse. I know he'll go for it.

Mon, 01/14/2013 - 14:09 | 3151310 LawsofPhysics
LawsofPhysics's picture

Now about those bonds coming due and future bonds autions...

Mon, 01/14/2013 - 14:12 | 3151315 TomGa
TomGa's picture

"But it doesn't prevent them from going onto the floor of the House and, you know, blasting me for being a big-spending socialist."

 

For Obama, speaking is always hazardous when POTUS goes off TOTUS. Sometimes a bit of reality leaks in.

Mon, 01/14/2013 - 14:11 | 3151325 SheepDog-One
SheepDog-One's picture

'The Nation' is just 'baby mamma daddy'...WTF the co-called nation is nothing but a big month to month welfare state!

Mon, 01/14/2013 - 14:11 | 3151327 azengrcat
azengrcat's picture

We are not the father?!?  Cue the Maury Povich Clip!!!

Mon, 01/14/2013 - 14:12 | 3151328 dlfield
dlfield's picture

What a fearmongering hoodlum.

Mon, 01/14/2013 - 14:12 | 3151333 905ozs
905ozs's picture

Jubber...cue silver

Mon, 01/14/2013 - 14:31 | 3151432 justanothersucker
justanothersucker's picture

Silver up 30 cents in 5hrs of trading.  Gold up about 4 bucks.

Mon, 01/14/2013 - 14:12 | 3151339 SheepDog-One
SheepDog-One's picture

*inaudible*

Mon, 01/14/2013 - 14:13 | 3151341 Kaiser Sousa
Kaiser Sousa's picture

look guys the con is over....

and those who really matter know it...

"In a report published today, the Official Monetary and Financial Institutions Forum (OMFIF), a global organization of central banks and sovereign wealth funds, recommends that gold be remonetized for use as international money, alongside major currencies. OMFIF gives a number of reasons for this but they boil down it to gold's historical role in establishing and maintaining confidence and stability in international monetary relations. Such confidence and stability have dramatically declined as a result of the global financial crisis that began in 2008, to the detriment of the global economy. Falling back on the solid foundation of gold is the best available way to eventually move forward with healthy and sustainable growth in global trade, to all countries' mutual benefit, and to bring an end to the escalating 'currency wars' that increasingly threaten the global economy."

http://www.financialsense.com/contributors/john-butler/breaking-news-omf...

"BEIJING (MarketWatch) — One of the most hotly discussed questions in world finance concerns the timing of the expected take-off of the Chinese renminbi as a worldwide financial transaction and reserve currency. International banks all over the world are preparing for a further wave of renminbi activity in coming years as the Chinese authorities gradually release the shackles on the international use of the currency."

http://www.marketwatch.com/story/western-governments-may-soon-borrow-in-...


 

Mon, 01/14/2013 - 14:30 | 3151433 NotApplicable
NotApplicable's picture

So, we're moving from the Petrodollar standard to the Plasticrenminbi standard?

So much for the "Treasury issuance is in response to the market demand for quality assets B(I)S line."

Mon, 01/14/2013 - 14:45 | 3151506 Kaiser Sousa
Kaiser Sousa's picture

"Plasticrenminbi standard?"

naw, peep game homeboy....

there is a very good reason why China is buying all the Gold & Silver the stupid fucks in London and over here on the Crimex are placing on sale day after day in order to save what cannot be saved - the debt coupon dollar and fiat ponzi....

there is a very good reason why China is the biggest Gold producer now and aint exporting or selling a mother fucking ounce to the rest of the played out economic powers (take a wild guess who they r)...

China is gonna run shit...and to do that they need the Gold to flip this anglo international banker bitch script....

bone up on your Mandarin....

 

Mon, 01/14/2013 - 15:15 | 3151671 DOT
DOT's picture

Ni hao, KS and a greenie too.

Mon, 01/14/2013 - 15:17 | 3151681 FEDbuster
FEDbuster's picture

Not only buying up all the gold, they are pumping up their military, too.  Check and mate.

Mon, 01/14/2013 - 15:34 | 3151763 Kaiser Sousa
Kaiser Sousa's picture

Solid!

Mon, 01/14/2013 - 22:02 | 3152858 August
August's picture

Yeah. They'll flip ya for real.

Mon, 01/14/2013 - 18:37 | 3152359 hooligan2009
hooligan2009's picture

from the latin of Virgil:

quid non mortalia pectora cogis, auri sacra fames

or as close as I can get it in old Chinese

?????????????

or in English for you lazy fockers, heh

The execrable lust for gold leads mens soul astray

 

 

post post...bleh..i really did try and paste in the chinese characters!

Mon, 01/14/2013 - 14:15 | 3151344 Chupacabra-322
Chupacabra-322's picture

 This CRIMINAL is delusional.  Part of the characteristics of being a Psycopath and Sociopath.

"Well, you know, look, my hope is, is that common sense prevails." -OCriminal

Buddy, common sense would of had you in shackles and in a pound me in the ass prison on chargers of War Crimes, Crimes Against Humanity, Treason and Crimes against The American People.

Mon, 01/14/2013 - 14:32 | 3151439 NotApplicable
NotApplicable's picture

Well, common sense has yet to be elected HMFIC, so him and everyone since JFK have no worries in that regard.

Mon, 01/14/2013 - 14:14 | 3151345 TheMayor
TheMayor's picture

Can we just Impeach Obama and get it over with already?

Mon, 01/14/2013 - 14:28 | 3151423 DoChenRollingBearing
DoChenRollingBearing's picture

The Republicans are too chicken.

Mon, 01/14/2013 - 14:33 | 3151441 NotApplicable
NotApplicable's picture

No, more like, the system is too fake.

Mon, 01/14/2013 - 14:37 | 3151468 HellFish
HellFish's picture

The senate wouldn't convict this guy if they found him with a dead boy in his bed.

Mon, 01/14/2013 - 14:51 | 3151555 Rip van Wrinkle
Rip van Wrinkle's picture

No, it was Bush, stupid.

Mon, 01/14/2013 - 23:34 | 3153101 Aloha
Aloha's picture

Read up on Man's Country, may have missed it during your nap.

Mon, 01/14/2013 - 23:34 | 3153102 Aloha
Aloha's picture

Read up on Man's Country, may have missed it during your nap.

Mon, 01/14/2013 - 19:30 | 3152515 lakecity55
lakecity55's picture

How about a dead boy, a live female infant, a copy of Muscle Boy and a crack pipe?

Mon, 01/14/2013 - 15:45 | 3151798 Nick Jihad
Nick Jihad's picture

The Replicans are expecting 2014 to be a repeat of 2010, if they can just keep Obama, gun-control and the deficit at the top of the agenda. They like Obama right where he is.

Mon, 01/14/2013 - 14:14 | 3151347 Timmay
Timmay's picture

Deadbeat bully Nation. We F people up with borrowed dollars we will never repay.

Mon, 01/14/2013 - 14:26 | 3151415 Freddie
Freddie's picture

Idiots who watch TV and Hollywood's crap keep him in power.  If sane Americans would all pull the plug - he would be impeached or removed in two weeks.  

Mon, 01/14/2013 - 14:34 | 3151438 DoChenRollingBearing
DoChenRollingBearing's picture

Well, Freddie, here's my take, and neither you or I will like this.  In general, I am making observations below, not making wishes.

1)  Americans are NOT going to change.  51% of our nation are TAKERS, low information voters, etc.  America has changed.

2)  And because Americans will not change, they won't turn off the TV.

3)  NO WAY the R-Team will impeach Obama, we wish...

EDIT:

And because America will not change and we are stuck with him four more years, it is up to each of us to protect and prepare ourselves and our loved ones.  Get to work!  Gold, silver, cash, ammo.

Mon, 01/14/2013 - 15:31 | 3151737 cranky-old-geezer
cranky-old-geezer's picture

 

 

1)  Americans are NOT going to change.  51% of our nation are TAKERS, low information voters, etc.  America has changed.

Probably higher than 51% when you add in govt workers & retirees at all levels, their families, govt contractors at all levels, their families, and countless others feeding at the govt trough in some way.

It's the oldest trick in the book, buy lots of people's loyalty with money stolen from everybody else.

Everybody has a price for their loyalty.  Everybody here on ZH would sell their loyalty to this corrupt govt if the price was high enough.

We're all prostitutes.  Some just charge more than others.

Yes America has changed.  People used to have principles.  Their loyalty wasn't for sale at any price.

There's no such thing as principles anymore.  Everybody's loyalty is for sale at some price.

Mon, 01/14/2013 - 15:47 | 3151801 Praetorian Guard
Praetorian Guard's picture

I agree. By the way, love the panties... ;)

Mon, 01/14/2013 - 18:30 | 3152338 hooligan2009
hooligan2009's picture

He didn't make those

Mon, 01/14/2013 - 16:33 | 3151933 Ballin D
Ballin D's picture

An important point is that people are most willing to lose their values when they need to be protecting themselves.  Everyone is struggling right now and just wants to get their own.  Boomers just want to live a healthy retirement and die before everything blows up, X's just want the jobs the boomers are blocking and to provide for their families, Y's want any jobs so they can pay off the crippling student debt that they shouldnt have taken, the poor and minorities just want their welfare and disability paychecks.

As an individual, you would be a fool to not willingly become one small cog in their machine if it meant a better, safer future for yourself and the ones you hold dear.  The machine has a long way to fall before anyone will be willing to stick their neck out for the greater good.

Mon, 01/14/2013 - 18:29 | 3152336 hooligan2009
hooligan2009's picture

Not me!! I am Sparatcus!!!

Mon, 01/14/2013 - 19:28 | 3152508 lakecity55
lakecity55's picture

All ZH IS SPARTACUS!

(except for those who are not).

Mon, 01/14/2013 - 19:27 | 3152504 lakecity55
lakecity55's picture

CAPT Smith in Jamestown whipped the slackers who would not work.

Cut off the EBT. Work, or fucking starve. I do not care.

Oh, and Fuck You, gaycommiemusloidnegrofakepresident.

Mon, 01/14/2013 - 14:15 | 3151349 benbushiii
benbushiii's picture

So let me understand what POTUS is saying?  We have to pay our bills, and it would be irresponsible to not pay them because the United States pledged to pay them.  So the United States must borrow more, since they don’t have the money to pay the bills.  Got it!  So  if Joe Citizen cannot pay his bills, even though he promised to pay them, is he allowed to borrow more to pay his bills today?  Or in the case of Joe Citizen, can he hit the print button (Think Federal Reserve) to print fresh money to pay his obligations?

 

Mon, 01/14/2013 - 14:35 | 3151459 NotApplicable
NotApplicable's picture

You should try something less dangerous than this attempt at clarity, like say... drinking cyanide or something.

Mon, 01/14/2013 - 14:15 | 3151355 Uncle Zuzu
Uncle Zuzu's picture

"Republicans in Congress have two choices here. They can act responsibly, and pay America's bills, or they can act irresponsibly..."

Uh Mr. President, borrowing money to pay bills is not acting responsibly, especially when borrowing from the Fed. Throwing away the credit card when you have a debt addiction, that is acting responsibly. You won on taxes, you will probably lose on this one.

Mon, 01/14/2013 - 17:00 | 3152033 Citxmech
Citxmech's picture

No shit.

Maybe we shouldn't order big meals at a fancy restaurants when we don't have the money to pay.

JFC.

Mon, 01/14/2013 - 18:28 | 3152332 hooligan2009
hooligan2009's picture

that metaphor works if you eat the meal first...what usually follows afterwards is washing the dishes of the customers who do pay

Mon, 01/14/2013 - 14:16 | 3151357 stant
stant's picture

this is a almost a great day for the empire and a almost end to the old republic. and we will almost pay our debt and weve almost took your guns

Mon, 01/14/2013 - 14:17 | 3151363 Zer0head
Zer0head's picture

-

 

 

And the nice thing is is that now that my girls are getting older, they don't want to spend that much time with me anyway, so I'll be probably calling around, looking for somebody to play cards with me or something, because I'm getting kind of lonely in this big house.

 

WTF so the rumors are true bout him and mitch, just don't go up to KAnada mr. Pres cause you'll be paying dearly

http://www.theglobeandmail.com/news/national/record-breaking-divorce-rul...?

Mon, 01/14/2013 - 15:29 | 3151739 trav777
trav777's picture

bama and his party DO want to take all the guns away...senior members have tried repeatedly to ban them all.  That might have something to do with the fear among gun owners.

the assault weapons ban and "gun" violence in and of themselves are total red herrings.

Mon, 01/14/2013 - 14:17 | 3151368 IamtheREALmario
IamtheREALmario's picture

Maybe he should start by unfunding all of the spy agencies and dark projects. No one will miss that. Then how about shutting doen Homeland security including the TSA, getting rid of all of his czars, shutting down the Department of Education, the FDA and any other department that uses deficit money to bribe the states and control them with obligations they cannot meet.

Mon, 01/14/2013 - 14:17 | 3151369 alangreedspank
alangreedspank's picture

Since when can you equate responsibly 'paying your bills' by arguing you should grab more of other's money ? If you are supposedly responsible, shouldn't you be able to 'pay your bills' on your own ?

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