RSSBarack Obama: “We are Out of Money Now” … Barack Obama will go on to say, I Have Not Yet Begun to Spend
What happens when one just spends and spends and spends …
In an interview on Friday President Barack Obama told C-SPAN, “We are out of money now.”
From The Drudge Report:
In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: “We are out of money.”
C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.
SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?
OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we’ve made on health care so far. This is a consequence of the crisis that we’ve seen and in fact our failure to make some good decisions on health care over the last several decades.
So we’ve got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it’s putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.
So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don’t reduce long-term health care inflation substantially, we can’t get control of the deficit.
We all know there are consequences to one’s actions and as the Gateway Pundit states, “You can’t just quadruple the national deficit in one year and expect there not to be any consequences.” Paterico’s Pontifications calls it Barack Obama’s Memorial Day message.
As Wizbang points out … Behold, the Obama Administration’s sales pitch for nationalized health care:
There you have it. We have to save money on health care or else we’ll be financially ruined by the cost of Medicare and Medicaid. And only the government — presumably by forcing helping doctors to make “cost efficient” health care choices — can turn our rising health care costs around and eventually make health care less expensive (while also making it equally available to everyone and miraculously innovative …
People act like we have not seen this Barack Obama healthcare model before. We have, it was called US Healthcare HMO on the early 1990’s where doctors were restricted from seeing patients if they did not get on certain panels and patients were not only prevented from receiving proper healthcare, they were prevented from seeing their life-long physicians. Who honestly thinks that the government should ever make a healthcare decision? Take a look at what has gone on at the VA.
Posted May 23, 2009 by Scared Monkeys Barack Obama, Economy, Government, Obamanation, Obamanomics, Politics, Socialism, WTF | 20 comments |
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20 Responses to “Barack Obama: “We are Out of Money Now” … Barack Obama will go on to say, I Have Not Yet Begun to Spend”
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What BS ! This is a long-term problem.
Obama & Company plan to raise taxes ? You Betcha!
Did I read that right? We are out of money because of decisions we’ve made previously about health care?
Dear Clueless Mr. President:
That $11 trillion deficit has NOTHING to do with health care. It has EVERYTHING to do with all the handouts you’ve given to automakers, AIG, Banks, your $3.7 trillion budget, stimulus packages and indeed your inept tax cheater Secretary of the Treasury’s poor advice.
one of the dem. politicians was asked the other day if the adm. was going to make changes in the multi-billion dollar malpractice insurance practices and i thought the pol. was going to stroke out. another pol. changed the subject to move away from the ins. question, so i suppose that isn’t going to be considered. wouldn’t want to disturb any lawyer lawmakers and their friends. i was waiting to hear someone ask about the advertising expenses the drug companies run up every year. every magazine is tv station is inundated by ads for prescription drugs. who’s going to trust a dr. who takes advice from a patient about prescriptions the patient about or heard about in advertising copy?
dennisintn
Well gee Mr. President, you mean we is out of money master? well golly gee master sir,maybe you can spend about a trillion more and then our great great grandchildren can be in debt their entire lives as well.
BTW Mister President, I don’t have any money in my bank account and my 401K has taken a dump so you are shit out of luck getting any money from me at the moment.
Can you say dumb A$$
The King is not wearing any clothes! Double speak and
nonsensical references flow out of this fool in his rush
for Fascism. The fact that even his parents tossed him
aside early on is driving his apparently vindictive attitude
toward our successful society. A control freak in the
driver’s seat is not a good thing! Creating a mountain
of debt to cure a mountain of debt??….Unreasonable!
Where is the Common Sense from the Commoners?
In the words of an old favorite Gomer Pyle “SURPRISE, SURPRISE!!!”
Dennisntn: to help answer that question about insurance, when the US Military committed malpractice on its patients, we were not allowed to sue the US government.
I would rather imagine the politicians don’t want to talk about it because 1) they don’t want the lawyers to clue in and 2) they don’t want the patients to clue in
If GWB used his veto to force a healthy financial system, there wouldn’t be a financial crisis we have today … (and no deficit like today)
@#9 HELLO! You do realize that Barrack Obama has been spending money like a drunken sailor right?
GET A CLUE!
Well, go print some moooooore.
Ah, so you admit that the Democrats tossed the financial system by a “mortgage for everyone” policy; but now you want to fault GWB for not stopping them. Are you aware that there’s no point in a President using a veto since with certain majorities the Congress can override the veto?
But I digress. This is now the O administration. And it is now the O administration that is spending with wild abandonment. It is the O administration that has increased the country’s debt 4 fold in a mere 100 days. It is the O administration that shows no spending restraint in sight – including promises of $30 billion to a bankrupt car maker who just got $18 billion in taxpayer money as a “gift”. And it is the O administration that forges ahead with cap and trade and health care for a country whose citizens are hurting and can see no end to the pain on the horizon.
Are you aware that there’s no point in a President using a veto since with certain majorities the Congress can override the veto?
Should read:
Are you aware that there are times when there is no point in a President using a veto since with certain majorities the Congress can override the veto?
Where is a good old West Texan when we need one?
How did we end up with this man from Mars?
Jerry
#14 – Naive voters. That’s how!
I’ll tell you what this weekend news continues to raise my cause of concern for the country.
I’ve been tracking the price of gold with the widget http://www.learcapital.com/exactprice and it’s been interesting to watch the price of gold rise in the May when typically it doesn’t. And now I’m wondering just what’s going to happen to the price tomorrow at the opening of the markets with this news from the President?
More or less he’s basically said the dollar is worthless. That’s sent a striking message to all those holding US debt.
Tomorrow is going to be one interesting ride.
well the USD is kinda…worthless
#17 so are you and the country you live in.
Oh and BTW, that $235K benchmark…LOL! It’s going to go way down in order to “recover”
lol@scott
that logic of yours just cranks me up