Obama: Have No Fear, No Immediate Debt Crisis Here!

Posted by - Thursday, March 14th, 2013

Obama made some interesting statements in a recent interview after a budget meeting on Capitol Hill, according to ABC News. In fact, it's perhaps most interesting how much he left out of the interview.

He scarcely talked about his ideas on fixing one of the biggest problems in America: our massive debt.

What he did say came as a shock to many, in light of all the recent tax increases, spending reductions, and the bipartisan stalemate. He claimed, “[W]e don’t have an immediate crisis in terms of debt. In fact, for the next ten years, it’s gonna be in a sustainable place."

He also mentioned that it was not his goal to balance the budget:

"Look, balancing the budget in part depends on how fast you grow. You remember– you were in the Clinton administration. The reason that you guys balanced it was a combination of some tax hikes, some spending cuts, and the economy grew...And, so– you know, my goal is not to chase– a balanced budget just for the sake of balance. My goal is how do we grow the economy, put people back to work, and if we do that we’re gonna be bringin’ in more revenue. If we’ve controlled spending and we’ve got a smart entitlement package, then potentially what you have is balance. But it’s not balance on the backs of, you know, the poor, the elderly, students who need student loans, families who’ve got disabled kids."

So there you have it. Disregard all the dire news you've heard regarding the danger of our ever-growing national debt. President Obama says it's no big deal and things are sustainable, so we're not in trouble after-all... Hooray!

If Democrats and Republicans are again unable to reach a deficit agreement, “that won't create a crisis. It just means that we will have missed an opportunity,” said Obama.

The fact that our Executive in Chief can essentially lie about the pending doom in order avoid lawmakers and leaders from taking responsibility for coming up with a feasible plan to come up with a sustainable compromise is laughable – and rather frightening.

Since the Republican National Convention back on August 27, 2012, our national debt has grown by roughly a trillion dollars.

That's simply unacceptable. And it should certainly wave a red-flag in the crisis department.

Even if the sequester cuts stay in play and we are, in fact, able to maintain over $3.5 trillion in deficit reduction as Obama says we will, the entitlement spending “madness” leaves us in murky water yet.

Republicans aren't willing to bend on further tax increases unless Obama is willing to initiate further entitlement pinches. So far, no one realistically expects a related compromise will take place.

“Ultimately, it may be that the differences are just too wide” to get a deal, President Obama said.

Hmm... and that in and of itself is not a debt problem? Interesting (ridiculous)...

  +12

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