Obama debt, disaster and deceit … are always looming

Professor of fiscal irresponsibility, Obama, enlightened us in his press conference:

    “So let me explain this. If Congress refuses to raise what’s called the debt ceiling, America would not be able to meet all of our financial obligations for the first time in 225 years.
    And because it's called raising the debt ceiling, I think a lot of Americans think it's raising our debt. It is not raising our debt. This does not add a dime to our debt.
    It simply says you pay for what Congress has already authorized America to purchase, whether that’s the greatest military in the world or veterans’ benefits or Social Security. Whatever it is that Congress has already authorized, what this does is make sure that we can pay those bills.
    Now the last time that the tea party Republicans flirted with the idea of default, two years ago, markets plunged, business and consumer confidence plunged, America’s credit rating was downgraded for the first time, and a decision to actually go through with it, to actually permit default, according to many CEOs and economists, would be — and I’m quoting here — “insane, catastrophic, chaos” — these are some of the more polite words.
    Warren Buffett likened default to a nuclear bomb, a weapon too horrible to use. It would disrupt markets, it would undermine the world’s confidence in America as the bedrock of the global economy, and it might permanently increase our borrowing costs which, of course, ironically would mean that it would be more expensive for us to service what debt we do have and it would add to our deficits and our debt, not decrease them.
    There’s nothing fiscally responsible about that. Preventing this should be simple. As I said, raising the debt ceiling is a lousy name, which is why members of Congress in both parties don’t like to vote on it, because it makes you vulnerable in political campaigns. But it does not increase our debt. It does not grow our deficit, it does not allow for a single dime of increased spending. All it does is allow the Treasury Department to pay for what Congress has already spent.”
More Washington Post

So let’s review. Raising the debt ceiling does not add a dime to the debt, but not raising it adds to the deficit and debt. Got it? He can see how increased borrowing costs add to our debt; but raising the debt ceiling — because we are right up against it — does not add anything to debt. Nope.

Federal Debt
Debt Held
by Public
Debt Held by
Federal Reserve
FY 2014* $18.2 trillion $11.6 trillion $1.6 trillion
FY 2013* $17.2 trillion $10.7 trillion $1.6 trillion
FY 2012 $16.1 trillion $9.6 trillion $1.6 trillion
FY 2011 $14.8 trillion $8.5 trillion $1.7 trillion
FY 2010 $13.5 trillion $8.2 trillion $0.8 trillion
FY 2009 $11.9 trillion $6.8 trillion $0.8 trillion

How many times have we increased the debt ceiling under Obama? A few now. Why? I suggest the debt ceiling has been raised many times, over time, which allowed the debt to rise. How else could the debt have risen above the ceiling ? So why, then, do they always link hitting the debt ceiling with default — if they are not going to add to the debt?

    Government debt in the United States has steadily increased from $2 trillion in the mid 1980s to over $17 trillion today. But as a percent of GDP it has grown from 55 percent to over 100 percent of GDP today.
    In the Crash of 2008 government debt increased sharply to bail out the banks and to provide “stimulus” to the economy. Debt reached 104 percent of GDP in 2009. But debt is expected to plateau at about 122 percent of GDP in the next few years.

But maybe in Obama’s world the GDP could be just shrinking that much.

Then he closed his box of tricks with this:

Now, the good news is… Our housing market is healing; we’ve cut the deficit in half. Since I took office, the deficit is coming down faster than any time in the last 50 years.

He has some real sophistry working there. Note he is talking about the “deficit” now. So if the budget deficit beginning in his first term was running all time highs, then he has decreased it from that level. Gee, see isn’t that great?

If its so great then why do we have to keep raising the debt ceiling again and again?(and probably again in the near future.) Could it be that we were so far beyond budget limits that anything short of that looks like a big improvement?

Source: http://www.usgovernmentdebt.us/ 

Right speech wrong words

There is hardly anyone reading this that doesn’t see the sickness in Obama. But it is not just him. How about his speech writers? I can’t imagine how they can write anything they want while it contrasts with reality. Even the lies are scripted so there is a bigger problem. People actually write his speeches, and he delivers them, and they stand truth on its head. But they don’t care because they are writing whatever Obama wants, which does not align with the truth. It is completely disconnected from reality. It doesn’t seem to matter.

Now he says “what I have said” is he will not negotiate over “the good faith and credit of the US”. But what he actually said before is that he would not negotiate with Congress. That’s what he said and everyone heard him, numerous times. Now he tries to revise it or move the goal post. Even Carney said Obama would not negotiate with Congress over the debt ceiling. But our ears must be faulty.

He goes out and personalzes one self-defense shooting in speeches and then ignores gang shootings and violence. He talks about proposing laws, yet gangs by their nature operate outside the law. (sort of like his administration operates above the law.)

Obama was back in Missouri once again, after his speech in July blocked campus Republicans from attending. Then the rodeo clown was barred at the State Fair for poking fun at Obama.

Obama tells them that Republicans just threaten to “blow things up” if they cannot defund Obamacare . Its just not true. That doesn’t stop Obama from making the charge. In fact, it is he who is threatening to shut down government, just like he did before. It is he who wants it completely his way. Yet the purse belongs to Congress. He really has a problem with the Constitution he has sworn to defend and uphold to the best of his ability.

“Be the guy who’s doing your job. No obstruction. No games. No holding the economy hostage if you don’t get 100 percent of what you want,” he said.

Holding America hostage to his agenda is his agenda. And he always demands 100% of it, and refuses to negotiate. He insisted Republicans are just “trying to mess with him”.

He went on to say that Congress should do a budget on time and said he would work with the Senate toward a budget. Is he so disconnected from reality? He doesn’t care. He just continues to say whatever he wants, ignoring the truth. His speech writers do exactly the same thing. So he stands there accusing others of doing exactly what he is engaged in. “Just do your job,” he lectured Congress and Republicans.

“This is not a deadbeat nation. We don’t run out on our tab,” said Obama, vowing he would not negotiate over the “full faith and credit of the United States.”

But the tab belongs to Obama not congressional Republicans. It was his spendathon.

But it is this process of going out there to say anything he wants, with no regard for reality, that gets me. And wahtever Congress says he doesn’t address. He simply changes what they said to suit his purposes, then proceeds to argue against it. He walks out, speaks and stands reality on its head. But someone is actually writing this stuff.

What he could have said, but never would, is to begin with saying: by the way, I’m sorry that there were apparently some college Republicans that were blocked from my speech out here in July. And I regret that a rodeo clown, doing his job and poking fun at me at the State Fair, was fired and banned. That was over the top. Please accept my apologies for that Missouri, on behalf of others.

But no, that wouldn’t happen. In fact, the rhetoric from the Left has even escalated, if that’s possible. Schumer talks about holding a gun to America’s head. Pelosi talks about “legislative arson”. Obama talks about “holding the economy hostage”. I’m starting to think of how much Libs have in common with the gangs like the Bloods and Crypts. The language and threats are on the same level.

Then he labeled his big-government schemes a “better bargain for the middle class.” The ones who he’s been stepping on and killing with his war on energy. Holding the economy hostage? Don’t make me laugh. This is the gang-banger Obama, Chicago style. Welcome to the ‘hood.

Ref: http://www.reuters.com/article/2013/09/20/us-usa-fiscal-obama-idUSBRE98J0C520130920

The official Obama “care” policy = Don’t.

Evil is as evil does

I’m in such a gloomy mood. I just have to say that any talk about expectations – such as accountability or comeuppance for Obama — now makes my stomach churn. We’ve been on this rollercoaster for a few years. I stopped believing all the hype long ago about this or that being the answer.

Every step of the way I would hear people say there is no way Obama can do that and then he gets away with it. This is why I’m convinced about the evil factor involved in all of it, because despite the opposition he managed to get his way. The right jumped from one glimmer of hope to the next.

We saw it with ObamaCare, when they rammed it through – calling it a penalty and then calling it a tax. Who cared what they called it? People said that is not the final word. The courts took it up and Roberts creatively awarded Obama Constitutionality. Then in the election. He couldn’t even run on his miserable, failed record. People said its Romney’s to lose, but he did. And on and on; from the debt ceiling to the fiscal crisis, standoff after standoff. No way Obama could get reelected. Evil cast its vote with Obama and lady luck smiled on him – or was she laughing at us?

This sinister administration blasted its way through one scandal after another, with no repercussions. Libyagate then to Benghazigate. Fast and Furious was a classic example. Did you ever see the press so willing to ignore and dismiss a story? No accountability for anything. There is no doubt in my mind the evil that is involved. You can blame Congress and Repubs for not doing more, blah, blah … but there is still a huge evil factor in it all, from one end to the other.

Now hours away from the cliff, Obama says he demands a vote (or approval) on his “plan B”, which is really no plan. It’s straight out of the absurd.

As for me, I’m calling it evil. That word is reserved for just such things.

‘Hope and Change’ is hoping for change

Obama to stress need to raise debt limit “without drama”

(Reuters) – President Barack Obama will renew his case for tax hikes on wealthy Americans to avert a year-end fiscal crunch and call for a smooth increase in the nation’s borrowing limit in a speech to a business group on Wednesday, a White House official said.

The president is embarked on an aggressive campaign to pressure congressional Republicans to compromise on steps to avoid the so-called fiscal cliff. He will argue to corporate executives that it would hurt the nation’s economy to have another protracted political fight over raising the debt limit, the official said.

“The President will highlight why it would hurt our economy and our nation’s businesses if we do not find a solution to avoid another debt ceiling crisis, and will ask the business leaders for their help in supporting an approach that resolves the debt limit without drama or delay,” said the official, who spoke on condition of anonymity.

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