by an Obama Who? writer;
‘WE’RE OUT OF MONEY’
Sat May 23 2009 10:32:18 ET
“In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: “We are out of money.”
C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.
SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?
OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we’ve made on health care so far. This is a consequence of the crisis that we’ve seen and in fact our failure to make some good decisions on health care over the last several decades.
So we’ve got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it’s putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.
So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don’t reduce long-term health care inflation substantially, we can’t get control of the deficit.
So, one option is just to do nothing. We say, well, it’s too expensive for us to make some short-term investments in health care. We can’t afford it. We’ve got this big deficit. Let’s just keep the health care system that we’ve got now.
Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything… “
http://www.drudgereport.com/flashocs.htm
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Does anyone wonder why we are out of money???? Could it be the fact that the Obama administration spends and spends and spends some more? Now he is talking about putting taxes on Soda, candy and things we eat that are not good for us? What about his promise not to tax the middle class??? Shove that one out the window!
Gee, every day I hear about some new plan Obama has and some new tax he wants. I keep envisioning myself living somewhere out in the wilds in a tent as our paycheck shrinks so we can all pay for Obama’s insane spending. He wants to tax: soda, chips, beer, smokes (again), electric, raise capitol gains tax, reinstate the death tax, raise pay role taxes, tax houses over a certain square footage, tax the amount to time you drive your car, tax, tax and tax some more:( Think we should just sign over our paychecks to him and let them have a ball? The average family would have to pay between $800.00 to $3,000.00 just on his cap and trade tax alone in just electric bills. These taxes have been being talked about on Fox News on a regular basis. As they are talking about these new tazes, I keep thinking “gee, what are the people going to have to live on?” The debt is too high for just the 5 percent of the richest people in the United States to carry so it will have to trickle down to us ( the hard working middle class) to pay, there is no other choice. = ( Get ready to watch the paychecks begin to shrink and shrink and shrink some more as Mr President continues on his merry spending spree.
Tags: bankrupt, bills, career, dollar, finances, jobs, middle class, money, rich, spending spree, taxes, trouble, woes
