Quantcast
Feeds: Email, RSS & Twitter

Get Our Videos By Email

Powered by Squarespace

 

 

Search The Daily Bail Archive Of 15,000 Videos

SEARCH THE DAILY BAIL

SPONSORED BY  

 

Hank Paulson Is A Criminal - Pass It On

Bernanke's Failures Caught On Tape

"The Federal Reserve Is A Ponzi Scheme"


Get Our Videos By Email

THE FED UNDER FIRE: Must See Clip

Bernanke's Replacement: Happy Hour In Santa Cruz

Must See: National Debt Road Trip

"Of Course We're Not Going To  Payback the Chinese."

Dave Chappelle On White Collar Crime

Carlin: Wall Street Owns Washington

SLIDESHOW - The 11 States Most Likely to Go Bust

SLIDESHOW - 7 Really Big Holes - Don't Miss #7

SLIDESHOW - Molotov Cocktails In Greece

SLIDESHOW - The Sights, Sounds & Women of Texas

SLIDESHOW - Genius Signs From Irish IMF Protest

SLIDESHOW - Egyptian Revolution - Graphic PICS

SLIDESHOW - U.K. Student Riots

SLIDESHOW - Airport Security Cartoons - TSA

Most Recent Comments
Cartoons & Photos
SEARCH
« Santelli Annihilates Costco CEO For Blatant Tax Hypocrisy | Main | CBS NEWS: 11 More Solyndras In Obama Energy Program »
Friday
Dec072012

Obama: 'I Plan To Get The Long-Term Deficit Under Control'

Calm down, people. I got this.

Dallas Fed President Richard Fisher calculated that the government's unfunded liability for Social Security and Medicare alone comes to a staggering $99.2 trillion, or $330,000 for every man, woman, and child in the United States.

It's an impossible figure, but still on the low side compared to this estimate of $222 trillion published at Bloomberg.

The Deficit President spoke Wednesday about his plans to solve the fiscal cliff:

Key phrase is long-term.

The national debt has grown by $6 trillion since the Spender-In-Chief took office, and four more $1 trillion deficits are on the way before Obankster leaves Washington in 2016.

Check the debt clock and decide for yourself.  Is there anything, anything at all, that appears 'under control' to you? 

And guess what?  Now that Democrats have convinced Boehner and Senate Republicans to support higher taxes, Krugman, Reich and other Keynesian troglodyte thought leaders have begun to call for increased spending until the economy improves.

That's right, people.

More beneficial, well-spent, never-wasteful, federal stimulus is on the way.

Seriously, read this, immediately.

---

Obama's full speech (2 minutes):

Obama and Bernanke have been kicking the can for so long it's starting to feel normal. We've had nothing but stimulus since 2007 and little to show for it.  Deleveraging from 40-1 is no simple task, even when the Fed is buying, and Brian Sack is drunk on the trading floor.

Here's the national debt truth from STR:

Excerpt

For the record, the national debt was $10.626 trillion the day Obama took office.  Bush increased it by $4 trillion during his entire 8-year presidency and Obama demonized him.  But by the time Obama looks at his calendar on January 20, 2013, he will have racked up more than $6 trillion in just four years.

Obama says, “When I walked into office we had a trillion dollar deficit.”  That’s actually a blatant lie.  When Obama walked into office Bush handed him a (still way too high unless you compare it to Obama) $400 billion budget deficit.  That $400 billion was the deficit that Bush left Obama for fiscal year 2009, and then Obama loaded and larded it up with debt piled on top of debt.

Obama is blaming Bush for: 1) Obama’s $862 billion stimulus; 2) Obama’s $79 billion bailout for Government Motors; 3) Obama’s $410 billion Omnibus bill; 4) Obama’s  $350 billion in TARP money that Obama voted for and that Bush left for him.  That’s how you turn Bush’s $400 billion into Obama’s whining about a trillion.

Our real debt isn’t the $16 trillion ($6 trillion of which accumulated under Obama’s watch); it’s $222 trillion PLUS because of all the unfunded costs of Social Security, Medicare and Medicaid.

 

Related:

Obama On Letterman: 'Not Sure How Much The Debt Is'

 

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (10)

More stimulus?


Maine Snowmobile Assoc. hopes to build trails near wind farms

http://cs.amsnow.com/sno/b/news/archive/2012/11/28/maine-snowmobile-assoc-hopes-to-build-wind-farm-trails.aspx

[snip]

The snowmobile association, which represents 285 clubs, is working with the wind farm owners including: First Wind, TransCanada, Patriot Renewables and other developers on the project.

This could add 600 miles of trails to the 14,000 miles of trails in Maine.


Snow? Global Warming? CO^2? Snowmobiles?
Nov 29, 2012 at 7:24 AM | Unregistered Commenterjohn
John, I hear tell you can ride trails from Pa all the way up to your neck of the woods on ATV and snowmobile trails. Big industry.
Nov 29, 2012 at 9:18 AM | Unregistered CommenterSKINFLINT
HAHAHAHAHAHAAAAA!
Nov 29, 2012 at 9:49 AM | Unregistered Commentersam
Obama Hoping for ‘Tax Now, Cut Later’ Fiscal Deal

http://www.thegatewaypundit.com/2012/11/obama-hoping-for-tax-now-cut-later-fiscal-deal/

Just as we expected.

The Deficit President doesn't do cuts.
Nov 29, 2012 at 6:13 PM | Registered CommenterDailyBail
Good story, Skin. I included it in today's links.
Nov 29, 2012 at 6:14 PM | Registered CommenterDailyBail
Getta load of this one.http://www.bloomberg.com/news/2012-11-29/obama-lunches-with-romney-behind-closed-doors-amid-cliff-talks.html I'm just sick. You would swear they are on the same team.
Nov 29, 2012 at 6:20 PM | Unregistered CommenterSKINFLINT
SKINFLINT- Of course they're on the same team, the banker's team. You didn't know that?
Nov 30, 2012 at 1:54 PM | Unregistered CommenterMr. Mojo
Romney is a nice guy and he did not grasp that the only way you can beat these corrupt, dissolute dirt-bags is by using their , the Democrat's,own dirty tactics (sad as it may seem)
The GOP is going to "Nice-guy" and "Compromise" (capitulate) itself into extinction.
Dec 9, 2012 at 2:12 PM | Unregistered CommenterSam DiCamillo
John, I hear tell you can ride trails from Pa all the way up to your neck of the woods on ATV and snowmobile trails. Big industry.
........@ john an SF,,,Back in the 70's it was big buisness in Wis. Min. Upper Mich. in the winter time for the clubs plan big events and cover 100's of miles of weekend runs. We had 2 machines and Dar was on one 5 nights a week. I soooooo, "Dread" Feb. 1st. Time was short now and ride the trails hard.Neaver knew how much time we had left..............P.S.,,,Loved them thAre, "March Blizzered's".....Jus Sayin" ?
Dec 9, 2012 at 7:32 PM | Unregistered CommenterTexas Dar

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
All HTML will be escaped. Hyperlinks will be created for URLs automatically.