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pistolpete23 
USA Fan
In the present
Member since Dec 2007
3071 posts
| Obama: There Is No Debt Crisis (Posted on 3/13/13 at 10:48 am)
quote:
We don’t have an immediate crisis in terms of debt,” President Obama said in an exclusive interview with George Stephanopoulos for “Good Morning America.” “In fact, for the next 10 years, it’s gonna be in a sustainable place.”
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doubleb 
LSU Fan
Baton Rouge
Member since Aug 2006
2888 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 10:59 am to pistolpete23)
10 years ago (2003) did we project a 16 trillion dollar national debt in 2013?
If we did I missed it.
These 10 year forecasts are useless. All they do is provide fodder for the talk shows.
If they are raising taxes today and cutting spending tomorrow; it's never going to happen. Thye last decade tells me that.
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wheelr
Lafayette
Member since Jul 2012
352 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:03 am to pistolpete23)
Check the comments on the article. I've been noticing more and more that people just aren't buying the BS anymore. At least the somewhat informed people who follow politics aren't.
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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
16722 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:04 am to pistolpete23)
quote:
We don’t have an immediate crisis in terms of debt,” President Obama
Claasic borrowers fallacy.
Look at this new car I bought! The dealer let me drive it off the lot. I only gave them a check for $500. What a deal!!
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UncleFestersLegs
Columbia MO
Member since Nov 2010
498 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:07 am to doubleb)
quote:
10 years ago (2003) did we project a 16 trillion dollar national debt in 2013?
CBO prediction
FY2012 surplus + $641B
Debt $3.5 trillion
Reality
FY2012 -$1.3T
debt $16T
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llfshoals 
Alabama Fan
Member since Nov 2010
866 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:12 am to UncleFestersLegs)
UncleFestersLegs
They even badly whiffed on 2001...they projected a 127 billion surplus...and ran 133 billion more into debt.
Roughly 200% off in the wrong direction...about par for the course with them.
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davesdawgs 
Georgia Fan
Georgia
Member since Oct 2008
10982 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:23 am to pistolpete23)
quote:
We don’t have an immediate crisis in terms of debt,” President Obama said in an exclusive interview with George Stephanopoulos for “Good Morning America.”
This is probably technically accurate but the current course is not sustainable. It's like the breaks have gone out going downhill but you still have a couple of miles to go before you reach the bottom of the hill. Yea, it's not an immediate crisis but without some kind of change in course the end will not be pretty. 
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BigJim
LSU Fan
Baton Rouge
Member since Jan 2010
1410 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:27 am to Taxing Authority)
quote:
Claasic borrowers fallacy.
Look at this new car I bought! The dealer let me drive it off the lot. I only gave them a check for $500. What a deal!!
This is just depressing.
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TigerFanatic99
LSU Fan
Elkhart, IN
Member since Jan 2007
1204 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:32 am to doubleb)
though I AGREE with you, to be fair, the financial crisis that caused a major drop in tax revenues was not anticipated that far back.
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CaptainBrannigan 
Auburn Fan
Member since Jan 2010
6675 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:35 am to pistolpete23)
quote:
We don’t have an immediate crisis in terms of debt,” President Obama said in an exclusive interview with George Stephanopoulos for “Good Morning America.” “In fact, for the next 10 years, it’s gonna be in a sustainable place.”
100% true. Debt only became a political issue when republican lost the elections in 2008.
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C
LSU Fan
The Woodlands, TX
Member since Dec 2007
17398 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:36 am to TigerFanatic99)
quote:
major drop in tax revenues
We have not had drop in tax revenues to the tune of a trillion dollars a year or anywhere near that. Spending, however, has increased nearly a trillion dollars over the past few years. It really doesn't take a math major to figure out why deficits have ballooned.
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Choctaw 
Navy Fan
Pumpin' Sunshine
Member since Jul 2007
39768 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:37 am to wheelr)
quote:
Check the comments on the article. I've been noticing more and more that people just aren't buying the BS anymore. At least the somewhat informed people who follow politics aren't.
there are still several comments that lay blame solely on the Republicans. it's amazing
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Jbird 
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4870 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:37 am to CaptainBrannigan)
quote:
100% true. Debt only became a political issue when republican lost the elections in 2008.
Naw it was when The Savior Odrama claimed it was unpatriotic as well.
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UncleFestersLegs
Columbia MO
Member since Nov 2010
498 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:39 am to CaptainBrannigan)
quote:
100% true. Debt only became a political issue when republican lost the elections in 2008.
quote:
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies… America has a debt problem and a failure of leadership. Americans deserve better. 2006
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GoCrazyAuburn
Auburn Fan
Member since Feb 2010
9069 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:40 am to CaptainBrannigan)
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wheelr
Lafayette
Member since Jul 2012
352 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:43 am to Choctaw)
quote:
there are still several comments that lay blame solely on the Republicans. it's amazing
This is true. Just look at the Obummer apologists here. It just seems they aren't as prevalent.
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lsuohiofan
LSU Fan
Carrollton,Ohio
Member since Oct 2011
91 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:44 am to CaptainBrannigan)
Exactly how long would you survive with this precentage of debt to income? Remember this isn't borrowing for your home it is more like borrowing every month for food and utilities. Say you take in $1000 per month and spend $1250. Eventually you'll run out of credit, file bankrupcy and stick someone. Except we would be sticking the whole world.
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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
16722 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:46 am to BigJim)
quote:
This is just depressing.
Indeed. We have a president out there selling the country on "low monthly notes".
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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
16722 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:48 am to CaptainBrannigan)
quote:
Debt only became a political issue when republican lost the elections in 2008.
Bull. It became an issue because our deficits have drasitcally increased under Obama with NO end in sight.
People that try to equate Bush deficits with Obama deficits are either mathematically ignorant or lying. I'll not guess.
This post was edited on 3/13 at 11:49 am
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Turkey_Creek_Tiger
LSU Fan
a Meth lab in Livingston Parish
Member since Dec 2012
1032 posts
| re: Obama: There Is No Debt Crisis (Posted on 3/13/13 at 11:49 am to pistolpete23)
quote:
it’s gonna be in a sustainable place.
borrowing more money to payback money you owe is NOT sustainable. Its a giant ponzi scheme that will eventually collapse.
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