Obama on debt in 2008

July 26, 2012 07:02

He’ll SAY anything. Look at what he DOES. “That is money that we’re all gonna have to pay back.”


In 2004 Obama said the “monstrous” deficits were “an enormous problem” when the deficit was $413 billion. In 2008 he said increasing the debt would burden our children and was unpatriotic. Every year of his term deficits have been over a TRILLION dollars. By the end of his first term he will have increased the debt more than all other presidents combined. Can we afford four more years of two faced, self serving fiscal insanity?

Obama has called high debt “irresponsible” and “unpatriotic.”:

Obama will tell you what you want to hear, what SOUNDS good. Don’t be fooled again.

“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. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.” — Barack Obama

“Rather than fight the same tired battles that have dominated Washington for decades, its time to try something new. Let’s invest in our people without leaving them a mountain of debt.” — President Barack Obama on his Office of Management and Budget website.

“Whether one believes in a large, very active government or something more limited, mathematically, the amount of debt we already have and the terrifying rate at which it is accumulating will lead to national ruin,” Gov. Mitch Daniels

“Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes. A substantial part of the confiscation is effected by taxation. But the welfare statists were quick to recognize that if they wished to retain political power, the amount of taxation had to be limited and they had to resort to programs of massive deficit spending, i.e., they had to borrow money,by issuing government bonds, to finance welfare expenditures on a large scale.” — Alan Greenspan

When asked why the markets haven’t reacted to the US being on the precipice of collapse, Erskine Bowles said its because the US economy is  “the best lookin’ horse in the glue factory.”

Alan Simpson (former senator from WY) and co-chair of Obama’s debt commission  said economic collapse will ‘be very swift and very dramatic’.

Former Treasury Secretary Rubin said the debt crisis could explode any minute.

Secretary of State Hillary Clinton told the Council on Foreign Relations that our national debt is a national security risk echoing previous statements by Joint Chiefs Chairman Admiral Mullen, head of U.S. intelligence — Dennis Blair, and all of America’s intelligence agencies.

“After the $700 billion bailout, the trillion-dollar stimulus, and the massive budget bill with over 9,000 earmarks, many of you implored Washington to please stop spending money we don’t have. But, instead of cutting, we saw an unprecedented explosion of government spending and debt, unlike anything we have seen in the history of our country.” — Michele Bachmann

“Blessed are the young for they shall inherit the national debt.” — Herbert Hoover

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