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Who Said It?
And now, a blast from the past. Guess who said it (source):
... the long-term deficit and debt that we have accumulated is unsustainable. We can't keep on just borrowing from China, or borrowing from other countries because part of it is, we have to pay interest on that debt. And that means that we're mortgaging our children's future with more and more debt, but what's also true is that at some point they're just going to get tired of buying our debt. And when that happens, we will really have to raise interest rates to be able to borrow, and that will raise interest rates for everybody -- on your auto loan, on your mortgage, on -- so it will have a dampening effect on the economy.
... So we are going to have to deal with our long-term debt. As I said before, the biggest thing that we can do on that front is to deal with entitlements.
... Most of what's driving us into debt is health care. And so we've got to drive down costs.
... it's time for reform that's built on transparency and accountability and mutual responsibility -- values fundamental to the new foundation we seek to build for our economy
... I will repeat again that my administration is going to seek to work with Congress to execute serious entitlement reform that preserves a safety net for our seniors, for people with disabilities, but also puts it on a firmer, stable footing so that people's retirements are going to be secure not just for this generation, but also for the next generation.
Incidentally, here is the CBO which showed just this past week what the "firmer, stable footing" looks like:
Don't know the answer? Here's a hint - it's the same person who said this in 2006:
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.
Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.
Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.
And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.
Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.
Still confused? The answer, of course, is this person.
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Fuck you Obama. Go back to your birthplace....Kenya...
The Biggest mother fucking liar of all time said it, Barack "lying sack of shit" Obama
I did not create Obama, El Diablo did.
You cannot blame it on me.
damn, I was wrong. before i actually clicked on the artivle and had just read the title and tagline, my guess was krugman
And if there had never been a federal reserve we would have ZERO owed in interest. But that would mean staying within the constitutional mandate of the govt issuing money with no debt attached. Who could've seen this coming?
He is hard to nail down as sometimes he is Barack Obama then times he Barack Obama and still others he is Barack O..........
Should have used a proper link...
That"s not a person. That is an Obozo.
I'm sure BO copied that saying from one of our founding fathers like Thomas Jefferson.
I'm sorry, these are the same clowns that ran up a debt in Continental dollars and then unleashed a militia on the same men who fought for the "founding father's" freedom to collect a tax on something they knew they would not go without. There's not one iota of difference between the signers of the declaration and modern day spendthrifts when it comes to fiscal responsibility or debt management.
Cognitive Dissonance is a mental illness...
Don't Diss Cog!
Obama is a Pinocchio, I want to meet his Gepetto.
Hope and Change ...suckers!
Which US Government are they referring to?
It's like watching "House of Cards". Only this isn't fictional!
House of Cards is fiction? Wtf?
what's 'house of cards'?
The Feds are waiting too long on the wealth tax. If the asset bubble pops, the revenue impact of the wealth tax will be GREATLY dimished. Today, a "one-time" (wink, wink) 25% wealth tax on Americans would grossover $20 trillion dollars. If the Feds wait til the equity/housing/land bubble pops, that same 25% wealth tax may yield less than $10 trillion.
Every President who comes in After has to Lie Harder as the hole gets deeper and deeper. Is Anyone going to stand up and say we're screwed, it's hopeless?
Nope! The floggings will continue until morale improves.
Every President gets the talk. Things change after the talk.
The talk is a film.
The film is JFK's head exploding.
Questions?
If the Don wins, I wonder what would happen.
If you give Obama a banana he'll say whatever you want.
To eat or do dirty things with?
Those options are not mutually exclusive.
In the terms of liberal thinking - have the cake and eat it. That would be do the dirty things and then eat it.
I can see the Rev...errr...the irrelevant Al Sharpton downvoting is underway.
All nonsense of course. The plan is to continue borrowing until the dollar breaks. Then lenders get screwed not future Americans. Both borrowers and lenders know this and everything that is happening now is just to keep things going for a few more weeks or months.
China could pull the plug any day, so could the ECB. Now they have systems in place to survive a dollar collapse. No one wants to be blamed for crashing the monetary system but no one will lift a finger to stop it either. The US will be allowed to spend itself into bankruptcy and the pieces will get sorted out later.
btw...American people are living with less debt, it is the government driving the clown car alone now.
The sad thing is that it could have been said by anyone on a long list of our current politicians. With equal sincerity.
Once you can fake sincerity, you have it made in politics.
Psychopaths, all.
He's so close. So, so close...... To getting out of office without this motherfucker collapsing. If he can just ...make...it....to January of 2017.
Almost there.
It's like having to whiz. It gets worse the closer you get to the john.
This was my O-M-G moment...he is so honest I first thought it was Ron Paul speaking to the Congress. Turns out it's the Obomba himself. Wtf?
No, actually, it was one of his speech writers. It's very doubtful that he could have written something like that.
Theatre... You can get good biking boots pretty cheap now lowa Salomon keen lots of good ones at Sierra trading Post. You will want a nice headlamp and a good full tang knife also. Rain wear is a problem as the cost is high for real good jackets with pit zips. Froggtoggs are nice but clammy. Marmot makes an excellent set of rainwear called precip. Wool socks are absolutely critical for warmth and they don't hold odor. They wick moisture out the top. If you have to walk and try to go in tennis shoes you will injure a foot possibly getting a broken ankle of nail in your foot could be catastrophic. Backpacks. 65/85 litres is a good pack size. You want compression sacks for clothes and sleeping bags to save space. DO NOT PACK A BUNCH OF WHAT IF ITEMS. A synthetic shirt and a spare a base layer appropriate for cool weather. Your rain jacket and a temp appropriate jacket. No big parka types. A down hoody and baselayer with a rain jacket will keep you more than wRm enough of you are moving. You want synthetic or wool hat and gloves. A cheap gardening glove can be enough. Water is crucial get a couple smartwTer bottles and a 48 oz Gatorade bottle. Wet wipes! Google pepsi can stove. Buy one or a wisperlite by msr will work on gasoline it is bullet proof. A washer squeeze is best for filtering water. An older option is the msr mini works I have one and works well and is very long lasting if not abused. Sleeping bags are crazy expensive for down. Get a synthetic marmot or kelty or sirra designs. 30 degree is good except wintertime.you should not be camping in winter it will kill you
Good advice, but that presumes we'll be bugging out. I plan to stay in my home or die trying.
Some kid in a MIC facility is gonna hunt you down using a drone with infrared and Hellfire your campfire you filthy terrorist.
"wolverines" don't sound so cool....
pimp
The full of shits list is growing bigger.......
"Because it's called raising the debt ceiling, I think a lot of Americans think it's raising our debt. It is not raising our debt. This does not add a dime to our debt."
This was back in 2006 and the dumb Republicans allowed the lying Democrats to attack them from the right on deficits.
Well I guessed, perhaps remembered, that it was the Mulatto-in-Chief. His speech writers had him mouth words that many people wanted to hear. Of course in the sham that is the American political process only the grazers would believe him.
I recall a white college co-ed in Colorado during the 2008 campaign saying she would take a bullet for then candidate Obama. Then and there I knew that what I had seen on the televitz years before was in a fuller blossom.
It isn't a puzzle once one understands the mindset of these swine. An example is the dyke's "husband" Billy Clinton, hero of Waco:
But now we are being tested again by a new wave of immigration larger than any in a century, far more diverse than any in our history. Each year, nearly a million people come legally to America. Today, nearly one in 10 people in America was born in another country; one in 5 schoolchildren are from immigrant families. Today, largely because of immigration, there is no majority race in Hawaii or Houston or New York City. Within 5 years, there will be no majority race in our largest State, California. In a little more than 50 years, there will be no majority race in the United States.* No other nation in history has gone through demographic change of this magnitude in so short a time.
Portland State University, Portland, Oregon, June 13, 1998 William J. Clinton, President of the United States
*Spontaneous eruption by students cheering, standing on chairs, applause
Well it's a good thing to become disillusioned, to get rid of false expectations but it's very bad to become discouraged, or to become cynical.
Who said it ....uh Reggie Loves cock holster? ( aka Barry Sotero)
The anwswer is all the current political class with their systemic bureaucracy. They created this mess over very many years. They have sustained it over very many years. The both identify it as a systemic problem and either ignore it or do nothing about it as it is still in their best interests. Criminals is what they are. The founding fathers and many who followed considered passing on debt to the next generation as immoral. That indeed is what it is. Deficit spending is nothing more than an un-voted tax on the future, QE the same. These people are insane and we keep voting these spendaholics into power time and time again.
Many of us Americans know the Washington incumbents and the candidates paraded in front of us are all liars, thieves and self-serving opportunists bribed by the global bankers, multinational corporate fascists and foreign State lobbyists (a.k.a. "shadow government" or "deep State"). Every presidential election they and their media peacocks convince the electorate they have to vote because it's our "civic duty". But the duty they propagandize is to keep the corrupt system in place by giving it credibility and legitimacy through our participation in this false democracy.
This will all change on November 8, 2016 if we have the courage to do what must be done..
We must exercise the greatest authority we have as a people. That power is to simply stay home on election day. Not voting is an implied vote of "No confidence" or "None of the Above". We need to be brave and do this in order to end the evil in Washington, DC. If we don't the elitists will bring more economic ruination to the country and a nuclear confrontation with Russia and China. World War III is inevitable unless we stop these monsters.
Dissolve it, start over!
CHINA is selling treasuries right now as we speak.
Their deluded idea of becoming world reserve country, plus rats deserting sinking polluted ship by buying up residential real estate the world over means that Capital is leaving China faster than it is coming in. Combine that will a nice global stock market crash, IN SYNC with the bond market this time destroyed by central banks, means that the US can end up owning diddly squat.
got that, this time it will be different because STOCKS AND BONDS WILL TANK TOGETHER COS BONDS DESTROYED BY CENTRAL BANKS
This time now it is not debt thats the biggest problem. Its asset misallocation due to government medling resulting in global financial bubble burst.
The traders all cannot wait for it to happen. READ ABOUT IT. Therefore it will.
The US Fed owns over half of US debt, not Japan ( the largest single soverein buyer ) and China. This is misplaced capital.
I knew it from the headline. I can hear his derisive tone in the written words. Here's what's up but fuck you, he preaches.
We deserve our fate. Godless, soulless and hopeless. So we voted for him.
If he isn't the Manchurian President, who else could possibly be?
William Jefferson Clinton was the first black President, Barack Hussein Obama will be the last.