President Obama: There Is No Debt Crisis

[notes2us]

There has been no shortage of dire warnings about the mounting US national debt, but President Obama is now offering a different assessment: no big deal........

http://news.yahoo.com/president-obam...-politics.html

[duane1969]

[Wickabee]

That's unfair.
I don't like my Prime Minister, Stephen Harper. I don't like him one bit. But anyone who makes it to leading a nation like the US, Canada, Germany, etc cannot be stupid. S/he can be a LOT of things, but not stupid.

Like I said, can't stand Harper. However, he is possibly the outright smartest PM we've ever had. Two inches left of evil, but incredibly intelligent.

Basically, if someone as stupid as everyone says Obama is can become President, what does that say about the rest of you in your workaday lives?

[duane1969]

Not the rest of us. I didn't vote for him...

EDIT: And to qualify my opinion of stupid...

Merriam-Webster defines stupid as, "given to unintelligent decisions or acts : acting in an unintelligent or careless manner"

Saying that a country that is $16.7 billion in debt, has a spending to GDP ratio of -41.4% and has a debt that is growing at $3 million PER MINUTE, is not in a debt crisis, is acting unintelligently and carelessly when he makes that statement...thus, stupid.

[Wickabee]

Not the rest of us. I didn't vote for him...

Not my point at all. This complete and utter drooling moron made it all the way to the highest position in the land, arguably the world.

What have you done? If this ignoramous made it to President, surely you of average-to-above-average intelligence have been there done that and are now working on your memoirs and a speaking tour?

That's my point. If he's such a moron and he can be President, then you and everyone else must be required to wear helmets at all times.

EDIT: And to qualify my opinion of stupid...

Merriam-Webster defines stupid as, "given to unintelligent decisions or acts : acting in an unintelligent or careless manner"

Saying that a country that is $16.7 billion in debt, has a spending to GDP ratio of -41.4% and has a debt that is growing at $3 million PER MINUTE, is not in a debt crisis, is acting unintelligently and carelessly when he makes that statement...thus, stupid.

"I'm telling you there's an enemy that would like to attack America, Americans, again. There just is. That's the reality of the world. And I wish him all the very best."

[Kosmo kards]

So many people in Washington don't think that the debt is a problem and that it won't be a problem for another 10-12 years, and its such a horrible way to think. Basically they think that its best to wait until the last minute and that we need more stimulus in the economy. The more debt the US has, the more of our money is being thrown away on interest. Why does nobody understand that?

[notes2us]

[Wickabee]

[habsheaven]

Many, many economists will tell you that the larger problem (much larger than the size of the debt) is getting the economy back running at full speed. Only when this is accomplished will the ability to cut the debt substantially be possible.

[duane1969]

Many, many economists will tell you that the larger problem (much larger than the size of the debt) is getting the economy back running at full speed. Only when this is accomplished will the ability to cut the debt substantially be possible.

Problem with that is that when the economy was at it's best we still accrued debt. There was one year during the Clinton administration where we were in the green by a few hundred million, but that wasn't thanks to a successful economy as much as it was to Republicans forcing Clinton to put forth a balanced budget. Clinton's original proposed budget for that year called for more deficit spending. So in all, over the last 36 years the national debt has grown 35 years. Economic success is needed, but reduced spending is needed too.