Let me surmise this video in a couple of sentences. Basically, Timmy Geithner told Rep Paul Ryan that only do they realize that the Obama Administration is running up more debt and deficit every day, but also that Geithner, President Obama or anyone else in the Obama Gang of Socialist clowns does NOT even have one idea of what to do about it.
At this rate, there will be no US Economy in 2027 but probably sooner.
That WE can do one of two things:
1) Vote everybody and I mean everybody out O-U-T in the Obama Administration in November. Not even the White House Trash Collector gets re-elected.
2) Or Party on Garth and wait for the Debt Train to run us all down and it will not pretty.
You rock Bill Whittle.
Hat Tip: Sarah Roman
Obama Administration will need to crank a hell of a lot more Monopoly Money – U.S. to Hit Debt Ceiling Before Election Day, Study Shows
The United States Department of Treasury will reach the statutory limit it is allowed to borrow money before election day, according to a new study by Sen. Rob Portman, R-Ohio., former director of the U.S. Office of Management and Budget.
“Following the contentious debt ceiling last August, President Obama promised that he would take action to address the country’s fiscal crisis. He has failed to do that,” Portman said. “In fact, his new budget increases spending and projects that Washington will be hitting the debt ceiling again in mid-October – burning through a $2.1 trillion debt limit increase in just over 14 months.”
Portman’s office notes that according to Obama’s budget, total debt subject to the statutory debt will reach limit will reach $16.334 trillion by September 30, 2012.
Let’s just raise the debt ceiling that should make the problem go away. That is the way our government, especially this administration, sees it. Go ahead, continue to vote in these progressives and see where you land. And for the younger generation who think Obama is so good wait until you get a job, lots of luck with that, and try to raise a family on welfare
The root of our problem is that we weren’t paying attention many years ago when the federal government started spending more money than they were collecting in tax revenue. They knew that it wasn’t going to fly if they raised our taxes, so they started overspending by large amounts & borrowing what they needed to fund their wildest fantasies & satisfy their interest groups – to get re-elected.
It also didn’t help when LBJ opened the floodgates by stealing money from Social Security (oh yeah, they said they “borrowed” it).
We need to send a message to the federal government that the party is over. It was never supposed to be about the central government. It was about the STATES. If you look back in history, the federal government had to beg the states for money to operate. It’s clear that we lost touch with being in charge of this country – long ago.
Downsize the federal government – it’s completely out of control – & completely unaccountable.
OBAMA HAS PUT AMERICA into an OUT OF CONTROL budget spiral that only has ONLY ONE eventual outcome – the UTTER DESTRUCTION OF THE U.S. DOLLAR as a viable currency.
It will be interesting to find out just WHAT will end up replacing our dollar – the Amero perhaps? A far more likely scenario will be a cashless society based SOLELY on electronic funds transfers from a “New World Order” controlled “line of credit”…
I think most Americans believe that the US could never suffer a financial collapse, but I think it’s a certainty. There is no other way out, and the gov cannot keep putting it off for very much longer, and it’s not even trying to correct the problems, if anything, they are creating more of them. All of that free stuff and entitlements, well it’s almost time to pay for them, just don’t expect to get anything in return.
Gee, defense is TAKING a big hit. Where to cut, how about some federal employees. The EPA is doing intense studies on beach sand, don’t need whoevers doing that. The HHS is hiring union employees to check preschooler’s lunch, we could probably do without. In fact we could cut several whole departments.
It’s a hard problem to fix at this point because he simply GAVE MOST OF THE MONEY AWAY. Entitlements ARE a big drain and they need to be addressed, sooner rather than later, the longer we wait on it the bigger the shock will be.
We as a nation are in a great deal of trouble right now, at home and abroad. Consider, if things go bad with Iran, almost a certainty, we could get hit with economic sanctions from China at which point our way of life will change almost instantly, especially if it happens, say, right about the time we hit the debt ceiling.
Sticking your head in the sand and pretending there is no problem works for a while but there are outside forces that we can’t control and living on the edge is a recipe for disaster.
Happy New Year America – Obama wants to borrow $1.2 Trillion more and finish off his Crash and Burn of the Economy
The White House will send the request to Congress on Dec. 30, the day the debt is projected to rise to within $100 billion of the $15.194 trillion limit, the Treasury official told reporters today on condition of anonymity.
Congress will be notified under the terms of a deal to raise the limit worked out on Aug. 2 after a more than two-month standoff between the administration and Republican lawmakers that was followed by a cut in the U.S. debt rating by Standard & Poor’s. The Budget Control Act of 2011 gives Congress 15 days to pass a joint resolution disapproving the increase in the limit. The president can veto such a measure.
Our debt per taxpayer is going up one dollar every 40 minutes. That’s Thirty six dollars a day, $13,140 per year.
Who did NOT KNOW this was going to happen? Last time we went through this Obama lied, Reid lied, Pelosi lied. All said we’d “get spending under control.”
Not one, not one of them has even thought about getting spending under control. As a matter of fact it has gotten worse, because we KNOW it has to be controlled and it isn’t being done.
Obama, Reid, Schumer, Pelosi and the rest of the insider trading crowd are impeding steps to control spending. We cannot continue on this way. Hard steps MUST be taken to curb this insanity.
And in three months after this one there will be another, and another, and another debt ceiling.
And today, while Mr. Obama is in Hawaii spending millions of our tax dollars, he will be appointing more Communist czars to his cabinet during the recess. He has pushed all of us to our very limit.
There has been no budget since BO has been president. How do we know how much he is really spending? The continuing resolution for 2 months (Jan.-Feb 2012) is reported to be $1 trillion. Simple math says we are spending $6 trillion a year (not $3.5 trillion reported by the media).
That means we are borrowing over $3 trillion a year, not the $1.5 trillion reported by the media.
Why aren’t the republicans demanding a budget? Where is the accountability?
Cloward and Piven and Alinsky must be very proud. We are very close to the end.
Shut it down. Here comes Lucy again to pull the football.
Hey Republicans…just one more time we promise…one more that’s all…If you don’t we will be forced by you to let police and firemen lose their jobs…old people will be forced by you to eat cat food…come on Boehner come kick the football!
Shut it down or remove the debt limit and push the pedal to the metal and go straight over the cliff. Let it all go to hell in a hand basket and all the takers can feel the pain of a truly broken society that they help create. Those of us who are smart enough to know better will still be smart enough to keep ourselves whole while we watch the takers starve and gladly defend our property while the takers stalk like zombies.
Nice thing is you won’t have to have a head shot to stop them.
This man has got to go in 2012. That is my New Year’s Resolution for 2012 – to do everything I can to have Obama Elected out of office. Whoever wins the GOP Nomination – with the exception of Ron Paul, I vow I will work on their campaign.
HEY HO OBAMA MUST GO!!!!!!!!!!!