Showing posts with label debt ceiling. Show all posts

Video of Sen. Bob Casey Jr. (D-PA): PA Has Mixed View Of Obama Because Of Poor Economy

Obama owns it:

The crappy Obama economy coupled with massive overspending has lead to this bombshell (via memeorandum): US borrowing tops 100% of GDP: Treasury

US debt shot up $238 billion to reach 100 percent of gross domestic project after the government's debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country's spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

...The last time US debt topped the size of its annual economy was in 1947 just after World War II. By 1981 it had fallen to 32.5 percent.

Ratings agencies have warned the country to reduce its debt-to-GDP ratio quickly or facing losing its coveted AAA debt rating.

Speaking of rating agencies, how much do you want to bet Democrats will actually try this: Video of Barney Frank: If Moody’s Downgrades US Economy, JUST IGNORE THEM!

Sarah Palin: If Tea Party Were Really Terrorists, Obama Would Pal Around With Us

This will go down as classic Sarahcudda:

Video: NBC News’ Al Sharpton Baffled By Debt Ceiling Issue

NBC News must be so proud to have an incompetent race hustler as a news anchor:

In a baffling and confusing interview, NBC News' newest star Al Sharpton doesn't seem to understand the difference between the debt ceiling issue, credit rating downgrade and default. He also, clearly, doesn't listen to his guest's answers to his nonsensical questions.

Grab some popcorn for this:

More humor at Sharpton's expense: NBC News’ Al Sharpton Struggles with TelePrompter

One more, just for kicks: Watch NBC News’ Al Sharpton Fix His Moustache

This is just too easy...

UPDATE: Obama Apologist Sharpton's Audience Continues To Turn Against Him

African-Americans continue to turn against MSNBC's Rev Al Sharpton from left, right and center, increasingly using his own radio program to challenge his ties to Obama. Today's example is from the left.

UPDATE #2: Breaking News MSNBC Proclaims Obama Winner Of The 2012 Presidential Election. It truly is the network of Sharpton:

Obama loses John Conyer (D-Detroit): ‘We’ve Had It!’ Calls for Protests at the White House

The biggest threat to liberals is that the federal government shrinks. The second biggest threat is that the government doesn't grow. The third biggest is that the rate of growth of the federal government is slightly reduced, which is what happened with the deal to increase the debt ceiling. And committed socialists like John Conyers went bonkers over it, calling for protests at the White House. Said Conyers of Obama: “My response to him is to mass thousands of people in front of the White House to protest this.” He also accused Americans of being stupid and in need of being 'educated':

UPDATE: As I was opining above: Sen. Cornyn: 'Yes,' More Spending in 2012 Than in 2011, But It's a 'Step in the Right Direction'

UPDATE #2: Obama also lost this fellow committed Marxist: Summer TV Press Tour 2011: What Harry Belafonte would ask Congress about the debt crisis

Singer Harry Belafonte, subject of an upcoming HBO documentary about his political activism, was asked what he would say to the White House and Congress about the gamesmanship in which they are engaged over the national debt.

“My question would be, to Congress and the president: What happened to moral truth? What happened to moral courage?” Belafonte said.

He’d also like to tell them: “Politics without moral purpose, really more often than not, winds up as tyranny.”

“Barack Obama and his mission has failed because it lacked a certain kind of moral courage, a kind of moral vision . . . a kind of courage we are in need of,” said the King of Calypso.

Moreal truth from a rabid pro-abortion zealot. It's nothing short of an oxymoron.

CNN Poll: 52% of Americans dislike debt deal, 77% think Obama and Congress acted like ‘spoiled children’

Via memeorandum: CNN/ORC Poll: Most Americans dislike debt deal, think lawmakers acted like ‘spoiled children’

A majority of Americans disapprove of the deal struck Sunday by President Barack Obama and congressional leaders that will raise the country's legal borrowing limit, and three out of four believe elected officials have acted like "spoiled children."

According to a CNN/ORC International poll conducted Monday during a House of Representatives vote on the legislation, 52 percent of Americans say they are opposed to the debt ceiling deal...

And from The NY Daily News: Pols all 'look like idiots' during debt crisis, but President Obama takes biggest hit of them all

"We all look like idiots," a dismayed Democratic Party elder complained as Congress lurched toward sidestepping a financial meltdown. "The extremists have taken over the system. This is not a good omen for anyone."

President Obama, least of all.

...even Obama loyalists on Capitol Hill privately say he didn't exactly burnish his leadership credentials in this process. "At the end of the day, voters expect their President to bring people together," one of them said. "He hasn't been able to on this."

It was a sure gone conclusion because fact is he didn't even try. No leadership whatsoever. And even liberals in the liberal media can't hide the fact anymore: Chuch Todd: -Let the President Run Against Himself- in PA

And this: Bob Schieffer Disappointed With Obama's Lack Of Leadership

Pelosi: $2.4 Trillion Should Last ONLY 18 MONTHS

In just a short year and a half, the national debt will stand at an absolutely absurd $17 trillion:

The debt problem will be even harder to deal with then than it was now. The can can only be kicked down the road so far. As Margaret Thatcher was quoted as saying, 'the problem with socialism is that eventually you run out of other peoples money.'

Related: Diane Sawyer to Pelosi: Will Debt Deal ‘Hurt Real People?’

Since when does the federal government bear the burden of education funding? It is the single biggest item on my property tax which is local, not federal. Also, the rich pay far more than their fair share, while the bottom 51% pay no federal income tax at all, and the bottom 40% actually get money back.

UPDATE: Via memeorandum: Pelosi: My Deficit Committee Members Will Oppose All Entitlement Benefit Cuts. It doesn't matter that entitlements alone cost more than 100% of federal tax revenues from all sources, does it?

Transparency! Obama signs debt ceiling deal in secret

Remember those calls for a more transparent government from Obama in 2008? Here's some change for ya:

Why in secret? This is probably it: Poll: Majority of Americans disapprove of debt deal

Just 44 percent of Americans approve of the agreement between Democrats and Republicans to “raise the federal government’s debt ceiling through the year 2013 and make major cuts in government spending over the next few years,” while 52 percent disapprove.

Republicans and independents are driving this disapproval. Democrats approve of the agreement, 63 percent to 32 percent. But only 35 percent of Republicans and independents approve of the agreement. More than three-in-five independents disapprove.

Specific elements of the agreement are more popular than the agreement overall, however, suggesting the tumultuous and often times messy process had a negative impact on Americans and their perception of Washington. One measure of that: the percentage of Americans who approve of the way Congress is handling its job has shrunk to an abysmal 14 percent, easily the lowest measure in five years of CNN polling.

You can't, after all, solve a debt problem by piling on more debt. And from the NY Daily News via memeorandum: Pols all ‘look like idiots’ during debt crisis, but President Obama takes biggest hit of them all

...even Obama loyalists on Capitol Hill privately say he didn't exactly burnish his leadership credentials in this process. "At the end of the day, voters expect their President to bring people together," one of them said. "He hasn't been able to on this."

Or anything else I might add. His form of bipartisanship is quite unilateral.

UPDATE: From Gallup: Poll: Obama weekly approval hits new low, but liberal support stays high

NYT headline: "House Passes Deal to Avert Debt Crisis". The cure to the debt crisis? MORE DEBT!

This isn't unique to the New York Times of course, but is emblematic of how the establishment media is carrying water for Obama and Democrats (via memeorandum): House Passes Deal to Avert Debt Crisis. The headline is a contradiction in terms on several levels. For one, the debt crisis was not averted, it was made far worse. Congress authorized Obama to blow another $12.4 trillion, the largest debt ceiling increase in our history. It will barely get us past 2012 at the insane spending level Obama put us in. And the deficit that stands at more than $14.4 trillion will be about $17 trillion in the blink of an eye. It will not create any real jobs in the private sector and in fact will hurt job creation.

On an even more basic level though, how can one avert a debt crisis by adding more debt? Isn't that like an alcoholic averting an alcoholic crisis by buying a crate of vodka with someone else's money? How's that going to help exactly? Largely unsaid in the debt ceiling fiasco is that all the plans to rein in spending only theoretically reduce the deficit, not the debt. They are only promising to overspend by less. The debt will grow every single year by boatloads of our grandkids' money. The debt will not be reduced by one single red cent. At least Ron Paul gets it: Video of Ron Paul "How Do You Solve The Debt Problem By Raising The Debt?"

UPDATE: From American Thinker: We The Stupid

I stand here in abject stupefaction. The so-called “right” or “Tea Party” in this republic is being so thoroughly rolled and defeated that I am struggling to come up with an adequate violent submission metaphor that does not involve prison rape . . .

Should ask a Democrat for the adequate violent metaphor. They have proven themselves exceedingly efficient at that.

Good grief: Chris Matthews blames Giffords shooting on tea party during debt ceiling vote

If at first you don't succeed, try again. If you don't succeed that second time, try again. and then again. And then again and again and again. And just keep going into an infinite string of failures that make you look like the jackass that you are, expecting a different result in trying the exact same thing. But after all that - after months of trying to link conservatives the the Giffords shooting - Matthews goes to the well for the thousandth time:

Still a jackass. Related: NBC News’ Sharpton Airs Lame Segment Calling Tea Party ‘Monster’ that ‘Will Destroy You’

NBC News' newest star Al Sharpton offers a barely coherent segment calling the Tea Party a monster. He also asks his guest, Lee Fang from left-wing Think Progress, what is becoming a trademark of the Sharpton interview style: A long, rambling, nonsensical statement that bears no resemblance to a question. Well done, NBC News. you should be so proud.

Ron Paul on non-cut cuts: "this is the type of math Washington uses to mask the incriminating truth about their unrepentant plundering of the American people"

Via memeorandum: When a cut is not a cut

...the "cuts" being discussed are illusory, and are not cuts from current amounts being spent, but cuts in projected spending increases. This is akin to a family "saving" $100,000 in expenses by deciding not to buy a Lamborghini, and instead getting a fully loaded Mercedes, when really their budget dictates that they need to stick with their perfectly serviceable Honda. But this is the type of math Washington uses to mask the incriminating truth about their unrepentant plundering of the American people.

It's along the same lines as Paul Ryan just the other day:Video: Rep. Paul Ryan Destroys Reid Bill Proposal in Blistering Speech; ‘Let’s Cover the Moon with Yogurt!’

Rush Limbaugh: The White House Is Beside Themselves With Joy Over This Deal

Well of course it is. They have been given $2.4 trillion that is stolen from our children and grandchildren. It is generational theft. And it gets Obama beyond the 2012 election which was his only real priority here:

The debt deal is a stinker and the sane know it: Johnson On Greta: Debt Deal "Totally Inadequate"

You can't solve a debt problem by incurring more debt, any more than you can cure alcoholism by drinking some more. Speaking of debt, via Instapundit: THE SPENDING IS NUTS: First Prize Winner In the Power Line Prize.

Palin Decides She Doesn’t Like McConnell Plan, Immediately Invents A Reason For Why It Is Unconstitutional

By Ian Millhiser/think progressEarlier this week, Senate Minority Leader Mitch McConnell (R-KY) proposed an odd way to end the debt ceiling crisis: Republicans will stop holding the economy hostage and effectively allow the debt ceiling to be raised without requiring any budget cuts, if Obama gives them 12 opportunities to bash his fiscal policies.McConnell’s plan to accept political theater as

Palin Decides She Doesn’t Like McConnell Plan, Immediately Invents A Reason For Why It Is Unconstitutional

Democrats Highlight Possible Perils Of Default: No Border Patrol Agents, Student Loans, Food Inspectors

By Marie Diamond/Think ProgressThis morning, a group of Democratic senators came together to warn the country about the disastrous consequences of defaulting on our debt for the first time in U.S. history. Their Republican counterparts are still denying the country would default if the debt ceiling isn’t raised by Aug. 2, and insist the Treasury hasplenty of money to pay all of our bills. Several

Democrats Highlight Possible Perils Of Default: No Border Patrol Agents, Student Loans, Food Inspectors

Chris Matthews Clowns Steve King, Forces Iowa Congressman To Admit He Doesn’t ‘Trust The Words Of Any Source’

By Faiz Shakir /Think ProgressReps. Steve King (R-IA), Michele Bachmann (R-MN), and Louie Gohmert (R-TX) introduced a bill today that they claim would help manage a government default if the debt limit is not raised by Aug. 2. The legislation is motivated by the right-wing triumvirate’s view that the default would not have severe repercussions on our economy. “I think we have plenty of money to

Chris Matthews Clowns Steve King, Forces Iowa Congressman To Admit He Doesn’t ‘Trust The Words Of Any Source’