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Posts Tagged ‘Debt Ceiling’

Obama blames Healthcare costs for the deficit

by Phantom Ace ( 6 Comments › )
Filed under Barack Obama, Headlines, Progressives, Republican Party at January 6th, 2013 - 8:32 pm

John Boehner said something that most Conservatives have realized. Obama told him that we do not have a spending problem. Obama blames healthcare costs for our fiscal issues!

What stunned House Speaker John Boehner more than anything else during his prolonged closed-door budget negotiations with Barack Obama was this revelation: “At one point several weeks ago,” Mr. Boehner says, “the president said to me, ‘We don’t have a spending problem.’ “

I am talking to Mr. Boehner in his office on the second floor of the Capitol, 72 hours after the historic House vote to take America off the so-called fiscal cliff by making permanent the Bush tax cuts on most Americans, but also to raise taxes on high earners. In the interim, Mr. Boehner had been elected to serve his second term as speaker of the House. Throughout our hourlong conversation, as is his custom, he takes long drags on one cigarette after another.

Mr. Boehner looks battle weary from five weeks of grappling with the White House. He’s frustrated that the final deal failed to make progress toward his primary goal of “making a down payment on solving the debt crisis and setting a path to get real entitlement reform.” At one point he grimly says: “I need this job like I need a hole in the head.”

The president’s insistence that Washington doesn’t have a spending problem, Mr. Boehner says, is predicated on the belief that massive federal deficits stem from what Mr. Obama called “a health-care problem.” Mr. Boehner says that after he recovered from his astonishment—”They blame all of the fiscal woes on our health-care system”—he replied: “Clearly we have a health-care problem, which is about to get worse with ObamaCare. But, Mr. President, we have a very serious spending problem.” He repeated this message so often, he says, that toward the end of the negotiations, the president became irritated and said: “I’m getting tired of hearing you say that.”

Obama really doesn’t think we have a spending problem. He believe that government can solve all our problems and that money is no obstacle. We have a fiscally ignorant President.

Obama: Debt Man Walking

by 1389AD ( 27 Comments › )
Filed under Barack Obama, Economy, Election 2008, Elections 2012 at December 30th, 2011 - 8:30 am

From Fox News:

Obama says adding $4 trillion to debt is unpatriotic.

Uploaded by maywhitley31 on Aug 23, 2011

On July 3, 2008 — the day before Independence Day — Barack Obama said that adding $4 trillion in debt was irresponsible and “unpatriotic.

Obama: The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.

Obama to Seek Third Debt Ceiling Increase Since Summer Deal

The Obama administration will ask Congress to raise the nation’s borrowing limit by $1.2 trillion this week, marking the third and final increase from a deal negotiated over summer.

Treasury officials say the increase will boost the nation’s borrowing limit to $16.4 trillion. Treasury officials say the increase is necessary because the nation will be within $100 billion of the current limit by Friday.

In August, Congress and the administration agreed to raise the borrowing limit by $2.1 trillion in three steps. The parties also agreed to cut more than $2 trillion from the deficit over the next 10 years.

Congress can reject the increase, though Obama can then veto their objection. If Congress doesn’t act by Jan. 14, the increase will take place automatically.

Such stuff as nightmares are made on…


Trump calls Budget deal a Joke and Obama incompetent

by Phantom Ace ( 6 Comments › )
Filed under Barack Obama, Economy, Elections 2012, Progressives, Republican Party, Special Report, Tea Parties, unemployment at August 4th, 2011 - 10:25 am

Donald Trump pulls no punches in this interview. He blasts the debt ceiling deal as a sick joke on the American public. He points out that this deal does nothing to begin to balance the budget or paying off our debt. Trump also called Obama incompetent as president, but a master of winning elections.

The apparent deal to extend the debt ceiling is “fantastic” for President Barack Obama but a “joke” for the rest of the country, real estate magnate Donald Trump said.

Speaking as Washington politicians move closer to approving a deal that would give the US another $2.1 trillion in borrowing authority, the colorful businessman and TV personality said the nation is tinkering while losing even more ground to China.

[….]

“Eventually you have to balance the budget. This is a long way from balancing the budget,” he said. “This is just a joke. This is a down payment at most.”blockquote>

I wish more Republicans spoke like Donald Trump. He has no qualms calling Obama a failure or in this cae incompetant. The GOP elites acts as if Obama is a devine being, who can’t be criticize. With a bad economy Obama should be an easy target. Luckily for him, he has the GOP as his oppoenets.

Marco Rubio voted against the Debt Ceiling deal

by Phantom Ace ( 7 Comments › )
Filed under Economy, Headlines at August 3rd, 2011 - 3:32 pm

Many Tea Party Conservatives/Libertarians were disappointed in Rubio supporting the Libyan war and having a Wilsonian interventionist foreign policy. Although I still have issues with his foreign policy views, he’s spot on on economic and fiscal issues. Unlike other Tea Party heroes like Allen West who agreed to this boondoggle, Marco Rubio held firm and voted against it!

 “I cannot support this plan because it fails to actually solve our debt problem, fails to diminish the risk of a credit rating downgrade and is not a long-term solution to avert a debt crisis,” Rubio wrote in a news release on his website.  “This plan still adds at least $7 trillion to our debt over 10 years.  It fails to immediately start downsizing government, leaving 98 percent of deficit reduction until after the 2012 election.  By not addressing the biggest driver of our debt, health care spending, this plan ensures Medicare’s looming bankruptcy, while protecting Obama Care’s $2.6 trillion blank check.”

It also could lead to a tax hike, Rubio wrote.

Marco Rubio is at this pioint the odds on favorite for the VP slot in 2012. He gets it on economic and fiscal matters. Now if only he would channel his inner Rightwing Latin self and reject Wilsonian nation building!

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