Obama Is Broke

H/T: Clear and Present Danger Hey, that’s this blog!

Does Obama have the financing necessary to support a war in Afghanistan? Exactly how much financing should be in reserve to protect our military? What could go wrong, including a nuclear attack against our forces? Overextended, in dire financial condition, the most debt-ridden commander in chief ever in world history does not have a pot to piss in. Obama’s Red Chinese allies are not likely to buy war bonds from Obama. Yet he sends more of our American sons and daughters into harm’s way, the most dangerous and deadly harm that can be found in the world. He has no cash in reserve. Obama has blown everything he (no, we) had. Obama is broke; but wants our sons and daughters to make war.
Even Obama admits it, he is broke. Obama has blown every nickel in sight for the next 40 years; but he has blown a whole lot more that are not in sight. The dollar is falling, falling, falling, in its buying power in the World. Obama’s model civilization, the Red Chinese who I hope you will enjoy emulating should we live so long, are about to come up with a new international currency, because the dollar is risky. Britain’s debt is being de-rated, and the dollar will soon also be pushed over the edge by mindless spending of Obama.

Obama is REALLY broke. The president bankrupted America in only 123 days . . . This is an all-time record: fastest national bankruptcy in a new collectivist regime.

Thanks, Obama

Like Kenya, we no longer have a pot to piss in

Like Kenya, we no longer have a pot to piss in

Sat May 23 2009 10:32:18 ET

H/T: AOSHQ Breaking: Obama Says US Out of Money
H/T: The Obama Files Latest Obamanations

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.

So, one option is just to do nothing. We say, well, it’s too expensive for us to make some short-term investments in health care. We can’t afford it. We’ve got this big deficit. Let’s just keep the health care system that we’ve got now.

Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything…

SCULLY: When you see GM though as “Government Motors,” you’re reaction?

OBAMA: Well, you know – look we are trying to help an auto industry that is going through a combination of bad decision making over many years and an unprecedented crisis or at least a crisis we haven’t seen since the 1930’s. And you know the economy is going to bounce back and we want to get out of the business of helping auto companies as quickly as we can. I have got more enough to do without that. In the same way that I want to get out of the business of helping banks, but we have to make some strategic decisions about strategic industries…


3 Responses

  1. […] Posted on May 30, 2009 by chillguy33 It seems Obama is OUT of money; and Obama confirms it [Obama Is Broke]. Worse for Obama’s Hope and Change economic plan, statist Obama’s government gold […]

  2. […] from A to Z. Medicaid is broke; Medicare is broke; social security is broke, and for that matter, Obama is broke. Can these legacy government social programs be fixed? No, quoth the Obamessiah; these programs are […]

  3. […] As we said back in May, Obama is broke. […]

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