What part does Obabble not understand

[deltex1]

When the wife says to the husband, "I am not going to pay these bills if you don't stop changing things we cannot afford"


Blog: Debt Ceiling Reached Yet Again, Washington Prefers to Sweep it Under the Rug - Fix The Debt

 

[NightFox]

When the wife says to the husband, "I am not going to pay these bills if you don't stop changing things we cannot afford"


Blog: Debt Ceiling Reached Yet Again, Washington Prefers to Sweep it Under the Rug - Fix The Debt

I'm sure the President understands it just fine, he just has no idea what to do about it (and neither does anybody else in Washington). He's confined by both political and economic realities into perpetuating the status quo in the hope that judgement day can be put off until he's gone from office.

The rest of us just are just left to hope that judgement day can be put off until after we're six feet under.

Numbers that make even the most stalwart politician squeamish:
Total Cumulative Federal Operating Deficits per taxpayer = $148,018.00
Total Long Term Unfunded Liabilities per taxpayer = $1,096,250.00

 

[deltex1]

He is confined by the political reality of buying votes thru redistribution of wealth...and if not enuf wealth is available, create it by borrowing.

 

[NightFox]

He is confined by the political reality of buying votes thru redistribution of wealth...

IMHO The short term issue has little to do with wealth or it's redistribution, it's a cash flow problem, wealth redistribution is likely to exacerbate the problem since it inhibits efficient domestic capital formation and thus strangles future cash flow.

and if not enuf wealth is available, create it by borrowing.

Can't create wealth by simply borrowing, it can only be done by borrowing and investing in capital that provides a rate of return that is higher than the cost of borrowing, given the artificially low cost of money that the Federal Government enjoys this certainly doable in theory, unfortunately the Federal Government has proven to be exceedingly incompetent and corrupt when it comes to the investing side of the equation. What the federal government is doing now is just surfing debt that's why they have to keep going back to the well to raise the borrowing limit.

 

[The T]

He is confined by the political reality of buying votes thru redistribution of wealth...and if not enuf wealth is available, create it by borrowing.

And lord help us when the creditors come calling...