Ok, so, the President of the United States has just admitted that we – as a nation – are broke, busted, out of cash. What’s his solution?
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.
If Washington doesn’t stop throwing money out like it was just so much waste paper, we won’t get control of the deficit.
How many jobs have been saved or created as a result of the “stimulus” plan? The administration proudly touted the salvation – for one year – of the jobs of a handful of police officers in Toledo right after the gargantuan pork-fest passed.
Heard them touting anything since?
Heard a darn thing about the much ballyhooed Geithner/Obama plan to coax private investors into buying toxic assets from the banks? Since it was announced?
Have you heard how “rule of law” Obama screwed heck out of secured investors? Wonder why you have not heard about the great toxic asset purchase plan lately?
Do you have any idea how much this super-deluxe, cost-controlled, government-run health care is going to cost?
Do you have any idea how much it has already cost? It has already destroyed the economy – and it isn’t even here yet.
It has destroyed the economy, busted us, because that was the single, obsessive driving force behind Obama’s agenda. To the point that the economy was neglected, band-aided and back burnered.
And broken as a result.
If you or I are out of money, we stop spending. Obama spends more.
How’s that hope and change?