-"Well, we are out of money now"-Barack Obama

Brutal honesty from the American President, and then a little bit of the deceit we have come to know him for.


C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president in a holiday interview today.

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.


There is no direct mention as to the fact that this is caused in large part becaue of HIS record spending. More to come.


via Drudge

-Obama's Rampant, Irresponsible Spending

According to Barack Obama's new federal budget, the government will have to borrow fifty cents for every dollar it spends. An easier way to represent this is to say that you are going to spend a total of $200,000 next year, including mortgage car payments loans etc. What the government is doing is like if you put $100,000 dollars of worth of those payments on your Visa. Then, to top it off, there really is no way for them to pay it back anytime soon, even if they raise taxes to unprecedented levels.

The unprecedented deficit figures flow from the deep recession, the Wall Street bailout and the cost of President Barack Obama's economic stimulus bill - as well as a seemingly embedded structural imbalance between what the government spends and what it takes in.

The government does not know how to make money with its poor business structure. All it knows is taxing the "rich" who provide jobs, and spending, often to help those who are unwilling to help themselves and have come to expect handouts.

This shows ZERO fiscal responsibility and so do the excuses this administration makes.

"The deficits ... are driven in large part by the economic crisis inherited by this administration," said budget director Peter Orszag.

When are they going to accept responsibility for this spending? Do they not realize they are spending triple what Bush spent? The concept of Obama having to cover for Bush's spending by SPENDING MORE makes no sense, and the administration has really never been able to justify it with a straight answer.

If you find yourself $10,000 dollars in debt, you cut your spending, do you not? It wouldn't make sense for you to add another $20,000 in debt the next year.

Keep in mind that what the administration is doing act like they are fiscally responsible is to cut defense spending and military funding. Great idea when we are fighting two wars, we likely have another on our hands, and our national security is at risk from radicals.

It is only going to get worse, with Barack Obama pushing his government regulated and backed health care plan that will likely cost over a trillion dollars and will destroy a private sector of the economy.




Source: My Way News