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Obama - "We're out of money..."


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I just don't think Obama sounds all that "brilliant" in this interview...


more like a college freshman smoking dope or something:



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.


So, one option is just to do nothing. We say, well, it's too expensive for us to make some short-term investments in health care. We can't afford it. We've got this big deficit. Let's just keep the health care system that we've got now.


Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything...


SCULLY: When you see GM though as “Government Motors,” you're reaction?


OBAMA: Well, you know – look we are trying to help an auto industry that is going through a combination of bad decision making over many years and an unprecedented crisis or at least a crisis we haven't seen since the 1930's. And you know the economy is going to bounce back and we want to get out of the business of helping auto companies as quickly as we can. I have got more enough to do without that. In the same way that I want to get out of the business of helping banks, but we have to make some strategic decisions about strategic industries...


SCULLY: States like California in desperate financial situation, will you be forced to bail out the states?


OBAMA: No. I think that what you're seeing in states is that anytime you got a severe recession like this, as I said before, their demands on services are higher. So, they are sending more money out. At the same time, they're bringing less tax revenue in. And that's a painful adjustment, what we're going end up seeing is lot of states making very difficult choices there...


SCULLY: William Howard Taft served on the court after his presidency, would you have any interest in being on the Supreme Court?


OBAMA: You know, I am not sure that I could get through Senate confirmation...



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So, we cannot sustain this deficit, which Obama admits is huge, and he


still wants to go far, far more in deficit spending on health care.....


Nope. Doesn't pass the "Obama is brilliant" test to me....



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Cal.... First the deficit existed before he was in office. 2nd he inherited less gross taxable income thanks to three large tax cuts thanks to bush and the republicans. 3rd he inherited crazy defense spending on two different wars and a medicare expansion further increasing our deficit. 4th thanks to deregulation our economy has tanked meaning a ton less taxable income due to gdp contraction. Meaning the margin between the income and debt is even more substantial.


In order to temporarily prop up our COUNTRY they had to show our domestic and foriegn markets we were backing our free market system long enough for consumer confidence to correct the course.


So since the right wing has nothing else they have politicized the only course that HAD to happen in order to gain some media and political traction. This is meant to sway the simple general masses on a reality that has no other realistic answer.



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The basic premise that we have a broken health care system that IS headed for a crash REGARDLESS of our current recession. It needs to be addressed and private for profit enterprise is not willing to because well PROFIT.


IF the government now had the oppurtunity to become the major broker on purchasing drugs and services it can use more leverage to reign in costs. The government unlike for profit health care financial companies is not in business to make money just operate services.


NOW is the perfect time to legislate costs because the general public and private companies are suffering. Along with a majority in congress that is the same party as the white house this may be a rare moment it can actually push insurance and hmos/pharm industries around enough to change.

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Obama inherited a deficit.


He quardrupled it in 5 months.


Our health care system is not going to crash,


but health care costs are getting out of hand...


imho, we have the best health care system in the world.


Experienced it not too long ago, in fact.


Doesn't mean much if you don't have health insurance, but....




Complain about the wars, that's fine.


But Obama


is continuing the war on terror, too.


Which, is a great thing.


And tax cuts help the economy. You see less tax monies to the gov,


I see more revenue as a result. So, less tax means greater revenue


for companies (invested in resources, R&D, etc) and a greater


amount of money paid to the gov in the long run.


Tax too much, and you get companies with less resources, less R&D,

less revenue, and they bail as much as they can.


But the idea that our gov. will reign in costs? LOL?


When has the gov EVER reigned in costs of anything?


Talk to folks who can't get unemployment, or a gov. grant, or veteran services,


etc, because of red tape snafus...


and ask them if they think the gov. can efficiently run a national health care system.




In Obama's speech the other night? he criticized the Bush admin 28 times.


That's all he has - negativity/projecting hate on the Bush admin.


Well, that and leftist ideas from college.

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Face it boys.

The dotcom bubble burst and we had a slowdow.

Interest rates and tax cuts got us rolling.

The oil and housing bubbles burst and it's back down the slide.


Ya hate deficit spending?


Vote for the guy who promises to triple it.


You hate war?


Pelosi promised to de fund it when you let the dizzy old bat take the house.


Obama promises to give peace a chance.


And a big tax cut.

Heh heh. Two ways to look at that Dems.

Either a lie or irresponsible action as we all know tax increases make an economy boom.



And we will get out of this.

Just later than sooner and weaker rather than stronger.



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How "dopey" is it, when you quadruple the Fed deficit in only 5 months,


and the biggest, most unsustainable Fed health care for all per Obama


hasn't even been implemented yet...


then Obama says "we're out of money" ???


Like, who's socialist fault IS that, Sherlock?




I still think Obama should have been cast as one of the aliens


on "Third Rock from the Sun".


We can only hope the "Big Giant Head" will take Obama


back to his home planet before his presidency and our


country implodes...

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