No debt? But you said..

[TNHarley]

President Obama: There Is No Debt Crisis - ABC News



ummmmm..

“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. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” – Senator Barack Obama, March 16, 2006

IDK if he is lying or just plain ignorant
IDK about you all, but if I have debt I couldnt possibly pay off, I would be in a financial crisis.
Guess America is exempt from that logic?

 

[waltky]

Granny says somebody needs to take dat gubmint credit card away from him...

Obama's Borrowed More Per Household ($53,616) Than Median Household Earns ($50,502)
April 26, 2013 - Under President Barack Obama, the federal government's debt has increased by an amount per household that exceeds the annual median household income.

Since Obama’s first inauguration on Jan. 20, 2009, the federal debt has climbed $6,167,472,778,984.22. That equals about $53,616 for each of the 115,031,000 households the Census Bureau currently estimates are in the country. By contrast, the Census Bureau’s most recent estimate of the median household income was $50,502 (for 2011).

If the federal government increased taxes sufficiently to take from the private sector the equivalent of $50,502 for every household in the country—that is, an amount that equals the median household income multiplied by the total number of households ($50,502 x $115,031,000), it would only take in $5,809,295,562,000. That $5,809,295,562,000 tax increase would not be enough to pay back the $6,167,472,778,984.22 Obama has borrowed so far on the credit of American taxpayers.

To actually pay back what Obama’s has already borrowed, the federal government would need to tax away from the private sector an amount that equals more per household than the median household earns--and then it would need to refrain from spending those additional tax dollars on new or expanded government programs so the money could be used to pay down the debt.

On Jan. 20, 2009, when Obama first took the oath of office, the federal debt was $10,626,877,048,913.08, according to the U.S. Treasury. At the close of business on April 25, 2013, it was $16,794,349,827,897.30.

Source

 

[Toronado3800]

Harley, I agree.

Get the boys to quit worshiping Reaganomics and quit talking about his deficit spending recovery and you can maybe make some progress. We have to save these New Deal style programs and deficits for times of terror. Just can not live off them every day in the name of glorifying Reagan.

 

[Mr. H.]

I would characterize the state of Illinois as a microcosm of the federal government.

Overspent, under funded, behind on bills, downgraded, inept. It's a lot simpler to dilute problems nationwide - they are easier to accept and ignore. Statewide, the crisis is immediate and severe.

Many individual states are headed for the shitter, and the nation as a whole isn't far behind.

 

[TheSeventhTiger]

that's like saying a prostitute doesn't have a "STD Problem" at the moment. Just a "Hiding All The Money" Problem for now.

 

[MeadHallPirate]

IDK if he is lying or just plain ignorant
IDK about you all, but if I have debt I couldnt possibly pay off, I would be in a financial crisis.
Guess America is exempt from that logic?

ahoy TNHarley,

well, ye have to first be fair enough to admit that Mr. Obama hath governed more or less as a conservative.

once ye swallow that pill, i think i'd make the argument that Mr. Obama be sailin' the same course as the beloved President Reagan sailed himself, on the good ship "The Debt Doesn't Matter".

well met, matey.

- MeadHallPirate

 

[Mr. H.]

IDK if he is lying or just plain ignorant
IDK about you all, but if I have debt I couldnt possibly pay off, I would be in a financial crisis.
Guess America is exempt from that logic?

ahoy TNHarley,

well, ye have to first be fair enough to admit that Mr. Obama hath governed more or less as a conservative.

once ye swallow that pill, i think i'd make the argument that Mr. Obama be sailin' the same course as the beloved President Reagan sailed himself, on the good ship "The Debt Doesn't Matter".

well met, matey.

- MeadHallPirate

What's your favorite letter?

 

[petro]

This problem is created by the fact that BOTH parties are corrupted by special interests and PAC's. The term "career politician" needs to be eliminated from our vocabulary, until that happens and term limits for all politicians are demanded by the public, expect the trend to continue. It is in their interest to keep the public divided.

When the people find they can vote themselves money, that will herald the end of the Republic...Benjamin Franklin.