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Author Topic: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’  (Read 2625 times)

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Offline thundley4

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Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« 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.”

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.”

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

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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Offline rich_t

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #1 on: May 14, 2009, 04:37:02 PM »
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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Online SSG Snuggle Bunny

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #2 on: May 14, 2009, 04:42:31 PM »
What we need is a government funded bailout plan for all this debt!




KIDDING! Don't hurt me guys.
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Offline Crazy Horse

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #3 on: May 14, 2009, 05:56:09 PM »
I just reported you all to the Ozealots............... :evillaugh:
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Offline NHSparky

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #4 on: May 14, 2009, 07:46:46 PM »
Quote from: Crazy Horse on May 14, 2009, 05:56:09 PM
I just reported you all to the Ozealots............... :evillaugh:

Good.  Molon Labe, ****ers.
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Offline Celtic Rose

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #5 on: May 14, 2009, 07:51:00 PM »
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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Offline NHSparky

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #6 on: May 14, 2009, 07:55:35 PM »
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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Offline Hawkgirl

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #7 on: May 14, 2009, 09:38:35 PM »
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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Offline Bluesuiter-Retired

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #8 on: May 17, 2009, 03:51:12 AM »
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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Offline JohnnyReb

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #9 on: May 17, 2009, 06:51:50 AM »
“Unsustainable”, 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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Offline VelvetElvis

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Re: Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
« Reply #10 on: May 18, 2009, 09:38:58 AM »
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?
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