Users Online Now:
GLP Poker Rooms
Donate To GLP
Back to Forum
Back to Thread
REPLY TO THREAD
Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,'
Ms Sans Serif
In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.
[quote:Anonymous Coward 45189860:MV8yMzU4NDM2XzQwMzA5MzEzXzk4NUQwRUMz] [quote:ohnonotagain:MV8yMzU4NDM2XzQwMzA5MTI2X0MwOUU3REUx] [quote:Anonymous Coward 45189860:MV8yMzU4NDM2XzQwMzA5MDkwX0NCQ0I2QjI4] Anyone here have any idea how much interest is owed on the national debt now? How much of every dollar the government spends is BORROWED? [/quote] I do believe we have to borrow 1.2 trillion each year to balance the books. The interest on the money is a good question! Most of the money borrowed these days is direct from the Fed. [/quote] Various figures show that the government borrows 46-48 cents for every dollar it spends. Interest expense so far for the fiscal year 2013: $395,845,239,236.39 :P [/quote]
Uhhh, is he new? He's pandering to the mouth breathing crowd.
Raising the debt ceiling doesn't increase the nation's debt, Pres. Obama declared in a speech today.
In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past:
"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."
Obama went on to suggest that "the average person" mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:
- See more at: [
link to cnsnews.com
Pictures (click to insert)
Big Round Smilies
Aliens and Space
Friendship & Love
Misc Small Smilies
View All Categories
Next Page >>
Obama turns 'prepper,' warns of coming 'crisis' 'Families should assemble a disaster supplies kit'
DANGEROUS SUNSPOT ALIGNING WITH EARTH
Giant sinkhole in Durham is ‘becoming bigger’ every second, landowner warns
California drought is so severe it’s ‘causing the Ground to move’
Are You Brushing Your Teeth with a Carcinogenic Endocrine Disruptor?
Mind Control Scientists Turn Off Emotional Link to Memories
Wall Street Admits That A Cyberattack Could Crash Our Banking System At Any Time
Robots Could Learn How to Herd Humans Like Sheep: Study
Flint Michigan Considers Distributing Scientology Book To Save City
Prof Threatens To Lower Students’ Grades For Saying ‘Bless You’ After Sneezes
One of NSA’s Biggest Contractors Will Now Be Recording Your License Plate Numbers
By 2020 Only Cars That Speak to Each Other Will Be Allowed on the Road
Debt, Vaccines and Food as a Weapon: When International Aid is Used for Population Control
Did You Know? 1 in 6 Children Now Has a Developmental Disability in the U.S.
MH17 Fully Exposed! You Won't Believe the Shocking Truth
On a Budget? Pink Slime is Back to Save You Money!
USGS Study: Yellowstone Eruption Would Send Ash Across North America
National Progressives Want A "Federal Czar" To Oversee Local Police Forces
Fed Vice Chairman Warns: Your Bank May Seize Your Money to Recapitalize Itself
Some Bay Area Residents Report Mysterious Flashes In The Sky During Napa Quake
Geneticist Traces Mysterious Origins of Native Americans to Middle East, Ancient Greece
How to Opt-Out Of Forced Vaccinations
Report: Bilderberg 2015 Location Discovered
Mysterious Phony Cell Towers Could Be Intercepting Your Calls
Dozens of police departments suspended for losing US military-grade weaponry
Disclaimer / Copyright Info
with questions or comments about this site.
"Godlike Productions" & "GLP" are registered trademarks of Zero Point Ltd.
Website Design Copyright © 1999 - 2014 Godlikeproductions.com
Page generated in 0.006s (5 queries)