The Conservative Cave
Current Events => Politics => Topic started by: thundley4 on May 14, 2009, 04:28:00 PM
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May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending “unsustainable,†warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.
“We can’t keep on just borrowing from China,†Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.â€
Holders of U.S. debt will eventually “get tired†of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.â€
The president pledged to work with Congress to shore up entitlement programs such as Social Security and Medicare and said he was confident that the House and Senate would pass health-care overhaul bills by August.
“Most of what is driving us into debt is health care, so we have to drive down costs,†he said.
Bloomberg (http://www.bloomberg.com/apps/news?pid=20601087&sid=aJsSb4qtILhg&refer=worldwide)
WTF? Is 0Bama serious? Healthcare is not the big problem when it comes to the national debt and what is owed China. He needs to look right at his own damn budget. I see this is just his way of pushing for healthcare reform, and laying the ground work for raising more and more taxes. :banghead:
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What's this "we" shit?
It's not "we" that have been borrowing money from China you dumb ****, its "you" brain dead assholes in DC that have.
Must of us would prefer that you assholes cut spending, reduce taxes and learn how to live within a damn budget.
Bunch af *******ed elitist pricks.
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What we need is a government funded bailout plan for all this debt!
KIDDING! Don't hurt me guys.
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I just reported you all to the Ozealots............... :evillaugh:
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I just reported you all to the Ozealots............... :evillaugh:
Good. Molon Labe, ****ers.
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No really? Debt is not a long term answer to financial problems? Glad you idiots finally figured it out. Might have counted for a little more if you had decided that before adding trillions to the national debt though :hammer:
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Says the person who just packed on $50K in debt to every American.
Better start writing a few more books, Zerobama.
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If Congress were the "leaders" in a business, they would have all been fired....yet
stupid american people keep re-electing them instead.
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It must really eat at dims/libs that "the dear leader" is now saying the same thing republicans have been saying for over a month now about our national debt.
Hell will freeze over before "the dear leader" steps before his teleprompter and tell the nation that HE screwed US.
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“Unsustainableâ€, huh?----The Dims are truly the party of the DUmmies. Because just like the DUmmies, they don't realize they've overspent until it's to late.
The Chinese takeaway man cometh.
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Teh One is the Sybil of politicians.
He talks as if it's someone else who's been spending like a kid with a stolen credit card.
How much longer will his adoring followers refuse to see it?