Obama declares 'Debt load unsustainable' by badkarma00

REAL WORLD EVENT DISCUSSIONS

Obama declares 'Debt load unsustainable'

POSTED BY: BADKARMA00
UPDATED: Saturday, May 16, 2009 07:35
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Saturday, May 16, 2009 2:42 AM

http://www.bloomberg.com/apps/news?pid=20601087&sid=aJsSb4qtILhg&refer
=worldwide

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Who was it, again, that put all this debt on us? Seems like I remember. . .oh! That's right! It was Presidebt HObama himself. Now he says it's 'unsustainable'. Imagine that.

Pity he didn't have this epiphany BEFORE he mortgaged our grandchildren's future to . . . CHINA of all places.

This must be that 'Change we can believe in'.

Bad_karma
Great and Exalted Grand Pooba, International Brotherhood of Moonshiners, Rednecks, and Good Old Boys.

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Saturday, May 16, 2009 2:45 AM

EVILDINOSAUR

yea, because we had no debt coming out of the previous administration...

"Haha, mine is an evil laugh."

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Saturday, May 16, 2009 3:03 AM

BADKARMA00

Quote:
Originally posted by EvilDinosaur:
yea, because we had no debt coming out of the previous administration...

"Haha, mine is an evil laugh."

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All administrations have debt, to be sure. But check the math. HObama has already spent more than most, and in just 100 days. Had it worked out, then maybe it would have been justified. Problem is, most analysts say it ain't working.

And now, he tells us the debt he's created is 'unsustainable', thus his justification to raise taxes.

And he will raise taxes, you can bet on it. He won't have much choice, with things the way they are. I don't know that he'll actually want to, mind, I'm just saying that he won't have a choice.

And you can't just lump this off on Bush, either. Obama was there, voting for the 'bailout' funds, right along with McCain and the rest.

Bad_karma
Great and Exalted Grand Pooba, International Brotherhood of Moonshiners, Rednecks, and Good Old Boys.

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Saturday, May 16, 2009 3:29 AM

EVILDINOSAUR

I'm certainly not saying Bush is entirely to blame, but neither is Obama. I beleive both men did what they thought was best given the situation in front of them, so far it hasn't turned out particularly well for either.

"Haha, mine is an evil laugh."

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Saturday, May 16, 2009 4:42 AM

KWICKO

"We'll know our disinformation program is complete when everything the American public believes is false." -- William Casey, Reagan's presidential campaign manager & CIA Director (from first staff meeting in 1981)

Quote:
Originally posted by badkarma00:
Quote:
Originally posted by EvilDinosaur:
yea, because we had no debt coming out of the previous administration...

"Haha, mine is an evil laugh."

--------------------

All administrations have debt, to be sure. But check the math. HObama has already spent more than most, and in just 100 days. Had it worked out, then maybe it would have been justified. Problem is, most analysts say it ain't working.

And now, he tells us the debt he's created is 'unsustainable', thus his justification to raise taxes.

And he will raise taxes, you can bet on it. He won't have much choice, with things the way they are. I don't know that he'll actually want to, mind, I'm just saying that he won't have a choice.

And you can't just lump this off on Bush, either. Obama was there, voting for the 'bailout' funds, right along with McCain and the rest.

Bad_karma
Great and Exalted Grand Pooba, International Brotherhood of Moonshiners, Rednecks, and Good Old Boys.

I'm not sure what country you've been living in for the last 8 years, BK, but it's been pretty abundantly clear to anyone with an ounce of honesty that taxes ARE going to go up, simply because you can't simultaneously launch two wars, invade a country and occupy it, AND deal with the looming Retirement Boom, AND drastically increase the size and scope of the federal government, AND dramatically increase federal spending, AND cut taxes all at the same time.

Anybody who is planning on acting surprised when taxes go up has either buried their head in the sand and been aggressively ignorant (and determined to stay that way), or they're playing partisan politics.

Obama has indeed increased spending, in reaction to an economic collapse that occurred entirely on the watch of the last administration - and administration which spent, in sum total, more than the combined total of all previous administrations in the history of this country going all the way back to its founding. The previous administration came in with a budget surplus (for the first time in years) and a national debt that was actually being paid down, and left with a national debt that had more than doubled, to well over 10 TRILLION DOLLARS, AND a budget deficit of more than a trillion dollars on top of that - not including their war spending this year, of course, since neither the Iraq War or the Afghan War have ever been included in those budgets (apparently, every year it came as an utter surprise to the previous administration to discover that they still had soldiers stationed in Iraq and Afghanistan - it seems that they really thought the mission was accomplished when the President declared it so!).

Now, so much for preamble... time for a bit of much-needed snark:

Obama says this debt load is unsustainable? Wow. Thanks for the update, President Obvious. :) OF COURSE it's unsustainable. It's been unsustainable for quite some time now. The question is, what are you going to do about it?

Mike

Build a man a fire and he'll be warm for a day...
Set a man on fire and he'll be warm for the rest of his life.

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Saturday, May 16, 2009 7:22 AM

BADKARMA00

I've been living right here! lol

I was just making the point that HObama had promised he wouldn't raise taxes on the 'middle' class, but that, IMO, he would have no choice but to do so.

I'm not saying he'll want to do it, btw, just that he won't have a choice.

And I agree, it was so obvious, except, apparently to him and the congress, rofl. As to what he's going to do about it, like I said. He'll have to raise taxes. China's huan, or whatever the hell they use for money, is on the verge of replacing the $$$ as the preferred world currency. In order to get the dollar's value back up, he will be forced to raise taxes, and get that debt paid down as soon as possible

I think this time, maybe, it's not just me,

Bad_karma
Great and Exalted Grand Pooba, International Brotherhood of Moonshiners, Rednecks, and Good Old Boys.

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Saturday, May 16, 2009 7:35 AM

BADKARMA00

Quote:
Originally posted by EvilDinosaur:
I'm certainly not saying Bush is entirely to blame, but neither is Obama. I beleive both men did what they thought was best given the situation in front of them, so far it hasn't turned out particularly well for either.

"Haha, mine is an evil laugh."

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I can agree with that. I'm certainly not saying that HObama is responsible for the economic mess, at least not any more than anyone else who was in congress at the time.

But he IS the one who's asked the Democrat controlled congress for bailout after bailout, and we're the ones who'll have to pick up the pieces. He called the 270 billion a recovery package, but so far, there's no sign of a recovery. Normally, I'd say that's ok, because there hasn't been a lot of time for it to work.

My problem is, he and Bite'n are telling everyone that it IS working, yet there's no proof that it is. They promised help for home owners to stave off foreclosure, yet the foreclosure rate is still high.

We're seeing jobs lost at an alarming rate, despite claims that the 'recovery' would create new jobs and prevent the loss of present jobs. Things like that, I do hold him responsible for, because he's the one who said them.

To me, his announcement that the debt load is unsustainable, right in the midst of telling everyone that his plan is working, is sort of irresponsible. Not to mention a complete turnaround from what he was saying just weeks before.

I agree with you that both men were in tough positions, and did what they deemed best. I'm not a real big fan of W either, especially after what he did to the two border patrol agents.

And honestly, speaking as a republican, I wasn't real excited about John McCain being in the WH either. Let's face it, this election cycle didn't give us much of a choice.

I do remain hopeful that things will work out, and will turn around. They always have in the past, so hopefully history is on our side. Meantime, we'll have to wait and see, I guess.

Bad_karma
Great and Exalted Grand Pooba, International Brotherhood of Moonshiners, Rednecks, and Good Old Boys.

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