I figured that since President Obama's time taken to appear on the Late Show with David Letterman took presidence over meeting with Benjamin Netanyahu and addressing the riots that appear to be directed at us in a dozen different Middle Eastern countries that he must of had something pretty important to say. After a crack about seeing David naked (that made me think of a hilarious pun involving the President missing his security briefs) they began to talk about the Republican National Convention. The key part came when David asked President Obama what this who Debt Deal was about. He was responding to the National Debt Clock that was a prominent feature of the Republican National Convention last month in Tampa.Obama, "We had a surplus when Bill Clinton was President"
Letterman, "That means extra money."
Obama - "Extra money, that was projected to continue to be a surplus. We decided to launch two wars on a credit card. We cut taxes twice without finding offsetting costs for it, or ways to pay for it. A Perscription drug plan, and then we had a massive recession. So when I walked into office we had a trillion dollar deficit. Debt had mounted, and we had to take Emergency Measures, saved the Auto Industry, making sure that the financial system got back on track. So now, what we have to do it pair down that deficit, get that debt under control. The only way we've been able to do that, effectively, is when you do it a balanced way, so, you cut out spending you don;t need, programs that doesn't work, and like I tell my Democratic friends all the time, if you're going to be in favor of helping the American people you can;t just assume that every government program is working the way it should, it can work better. But, what is also true, is that we are going to need to ask folks like you and me to do a little bit more and if you and I are paying the same tax rates we did under Bill Clinton then that helps to close the deficit. If we do those two things then we can manage very effectively and get our books in order."
Letterman - "Now do you remember what that number was? Was is.. $10 Trillion?"
Obama - "I don't remember what the number was preciously."
Letterman, "Now if this is me and I got the credit card guy calling me everyday, I start to get scared. AS Americans, should we be scared that we owe that kind of money, who do we owe that money to?"
Obama - "Well, a lot of it we owe to ourselves, because if you invest in a treasury bill or something like that then you are essentially loaning the government money. In fact, the majority is owed by folks who live here. But, we don;t have to worry about it short term, right now interest rates are low because people still consider the united states the safest, greatest country on earth, rightfully so. But, it is a problem long term."
The National Debt is an astounding $16 trillion, a number that I have trouble grappling. It also exceeds the size of the nation’s Gross Domestic Product, the total value of goods and services. Even if the government doubled it's revenue with higher taxes and fees, and even if it didn't bring the economy to a grinding halt as a result, it would take over two decades to pay this thing off.
Obama’s answer was a masterpiece of prevarication. He described how the debt originated, and claimed, falsely, that he inherited a $1 trillion deficit. In fact, this country had never run a deficit anywhere near $1 trillion until FY 2009, the first year of the Obama administration.
Even in his stump speeches he proves a lack of having a handle of the deficit. The speech I attended in Cedar Rapids included the line, "We fought two wars on a credit card..." and five minutes later "So I want to take about half the money we’re no longer spending on a war and let’s use it to put people back to work.". Huh? so we still don't have any money, but since we aren't spending this money we don't have on war, lets spend it on job creation, what about the half a trillion plus we spent in 09' and '10 that was supposed to spur our economy? There is no plan to reduce spending, just to funnel it into his own picks and agenda.
In a development directly related to the federal debt and the deficit, the Washington Examiner is reporting that the number of able-bodied Americans on food stamps has doubled after the Obama administration suspended certain work requirements for welfare programs.
Although the president apparently is thus far too busy to meet with Israeli Prime Minister Netanyahu about the Iranian nuclear threat, his trip to New York also included a campaign fundraiser with Jay-Z and Beyonce. Barely giving the slaying of our ambassador a second thought before flying off to Las Vegas.
Watch President Barack Obama below say he doesn’t remember what the National Debt is precisely (about the six-and-a-half-minute mark):
How frustrated do I become when I see the President so obviously duck a question? Even though millions of people see him do it, nobody seems to care. He's just too cool, he's too charismatic, he has done NOTHING to improve this countries situation on one hand, and in the other, he can do no wrong.Meanwhile, a businessman with one of the greatest track records for turning companies and even the Olympics around gets nothing but blame for only paying $2 million in taxes when he should have been paying $4 million. Well, now it seems that he only had to pay $1.5 million, because of all the money he was donating to charity... yet some people will never know, and will continue to think of him as nothing but an a-hole.
I don't get it...
Letterman - "Now do you remember what that number was? Was is.. $10 Trillion?"
Obama - "I don't remember what the number was preciously."
Letterman, "Now if this is me and I got the credit card guy calling me everyday, I start to get scared. AS Americans, should we be scared that we owe that kind of money, who do we owe that money to?"Obama - "Well, a lot of it we owe to ourselves, because if you invest in a treasury bill or something like that then you are essentially loaning the government money. In fact, the majority is owed by folks who live here. But, we don;t have to worry about it short term, right now interest rates are low because people still consider the united states the safest, greatest country on earth, rightfully so. But, it is a problem long term."
The National Debt is an astounding $16 trillion, a number that I have trouble grappling. It also exceeds the size of the nation’s Gross Domestic Product, the total value of goods and services. Even if the government doubled it's revenue with higher taxes and fees, and even if it didn't bring the economy to a grinding halt as a result, it would take over two decades to pay this thing off.
Obama’s answer was a masterpiece of prevarication. He described how the debt originated, and claimed, falsely, that he inherited a $1 trillion deficit. In fact, this country had never run a deficit anywhere near $1 trillion until FY 2009, the first year of the Obama administration.
Even in his stump speeches he proves a lack of having a handle of the deficit. The speech I attended in Cedar Rapids included the line, "We fought two wars on a credit card..." and five minutes later "So I want to take about half the money we’re no longer spending on a war and let’s use it to put people back to work.". Huh? so we still don't have any money, but since we aren't spending this money we don't have on war, lets spend it on job creation, what about the half a trillion plus we spent in 09' and '10 that was supposed to spur our economy? There is no plan to reduce spending, just to funnel it into his own picks and agenda.In a development directly related to the federal debt and the deficit, the Washington Examiner is reporting that the number of able-bodied Americans on food stamps has doubled after the Obama administration suspended certain work requirements for welfare programs.
Although the president apparently is thus far too busy to meet with Israeli Prime Minister Netanyahu about the Iranian nuclear threat, his trip to New York also included a campaign fundraiser with Jay-Z and Beyonce. Barely giving the slaying of our ambassador a second thought before flying off to Las Vegas.
Watch President Barack Obama below say he doesn’t remember what the National Debt is precisely (about the six-and-a-half-minute mark):
How frustrated do I become when I see the President so obviously duck a question? Even though millions of people see him do it, nobody seems to care. He's just too cool, he's too charismatic, he has done NOTHING to improve this countries situation on one hand, and in the other, he can do no wrong.Meanwhile, a businessman with one of the greatest track records for turning companies and even the Olympics around gets nothing but blame for only paying $2 million in taxes when he should have been paying $4 million. Well, now it seems that he only had to pay $1.5 million, because of all the money he was donating to charity... yet some people will never know, and will continue to think of him as nothing but an a-hole.
I don't get it...
No comments:
Post a Comment