Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,'

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]

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?

Hey dipshit...he's right. The debt ceiling has absolutely nothing to do with the national debt or spending deficits.

Econ 101.

I have never in my life seen so much double speak. Up is down left is right war is peace affordable health care act is unaffordable patriot act is communist act now debt is free. Wtf. EVERYTHING THAT IS SAID IS A LIE ON PURPOSE. These fuckers have got to fucking go. FUCK

Blaming congress... The old problem, solution, reaction tactic.

Hey dipshit...he's right. The debt ceiling has absolutely nothing to do with the national debt or spending deficits.

Econ 101.

I respect your decision, but I choose to give a damn and not drink the "Dont Worry Be Happy" Kool-aid. All is not well. Washington is seriously screwed up, starting with the bozo in the White House.

It's unclear to me that Obomba and his clown crew inner-circle know how to tie their shoelaces, nevermind run the USofA.

O's approval rate is about 50% currently. Half of the voters like what is says; the other half know that everything he says is a lie.

The only solution to the amount of debt we have is inflation. If we have enough inflation, the value of everything decreases, including our debt. I loved it under Jimmy Carter with 20% inflation - in a few years I could afford my house payment. It should work the same way for the feds....

Unfortunately, QE is their basic weapon to create inflation, but it's not enough to overcome our economic weakness (recession). We are in so much shit right now that if they stopped QE, we would have deflation (value of money increases). There would be no incentive to invest or spend, everyone would just hold onto their money.

The only reason this still works is that the rest of the world is worse off than we are. So when the house of cards falls, it will be everyone.

But it's like a train wrecking at the end of the line.
100 mph is going to hurt a lot worse than 50 mph.

Of course it doesn't raise the debt, assuming they don't borrow up to the maximum again. Surely they wouldn't make the same mistake again, would they?

Ahahahahahahahahahahahaha!

This motherfucker is something else... I am sick to fuck all with all of this administration's bullshit. How much more horseshit do we have to have shoveled onto our shoulders? I mean fucking really?

:obamaditz3:

Honestly, will we ever be able to pay this off? We'd have to cut spending by about half to just break even. I don't see that ever happening. How long will it take it reach 100 trillion dollars?

Of course it doesn't raise the debt, assuming they don't borrow up to the maximum again. Surely they wouldn't make the same mistake again, would they?

Ahahahahahahahahahahahaha!