A Lesson In Abject Stupidity

“Raising the debt ceiling doesn’t increase the nation’s debt”, Pres. Obama declared in a speech on Thursday.

Head up

 

From CNS News:

In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it’d been done so many times in the past:

“Now, this debt ceiling — I just want to remind people in case you haven’t been keeping up — raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy.  All it does is it says you got to pay the bills that you’ve already racked up, Congress.  It’s a basic function of making sure that the full faith and credit of the United States is preserved.”

Obama went on to suggest that “the average person” mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:

“It’s always a tough vote because the average person thinks raising the debt ceiling must mean that we’re running up our debt, so people don’t like to vote on it, and, typically, there’s some gamesmanship in terms of making the President’s party shoulder the burden of raising the — taking the vote.”

But, isn’t the fact that the U.S. has hit its debt ceiling “over a hundred times” – and, thus, has had to keep raising it – proof that raising the limit does, in fact, lead to increased debt?

—oo—

I wonder if the resident would like to explain that whopper without a teleprompter.  The sad part is that he no doubt believes his own crap as do those that wrote the script.

Some months ago I had the occasion to converse with a high level retired Fed economist about the difference between ” the debt” and “the deficit”.  His explanation is there really is no separation between the two but the government tallies each separately.  The only distinction is that the Federal Reserve purchases its own T-bills to the tune of $85 billion a month keeping Wall Street alive.  The rest are purchased by the Chinese, Japanese, and some European countries in a forever “moving the deck chairs on the Titanic” maneuver.

The reality is that our daily expenses are rising as our dollar gets weaker and weaker with each passing day.  In the meantime, the entirety of leftydom is quiet about the proposed raising of the Debt Ceiling despite them have conniptions when republican presidents were in office.  

The reality is that few if any understand the Ponsi scheme in the works.  I certainly don’t profess to really understand it and I doubt there are any but a scant few on Capitol Hill that understand it either nor would they want anyone to know.  For sure they don’t want the public to know.

How’s that “Hope & Change” thingy working out so far?

~ Hardnox

 

About Hardnox

Constitutional Conservative that Lefties love to hate.
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18 Responses to A Lesson In Abject Stupidity

  1. Buck says:

    No they don’t believe that crap. Not a bit. But they do believe you and I are so stupid that WE will believe it.

    • Hardnox says:

      Can’t argue with that one Buck. They need to keep the scheme going just long enough for the players to get theirs before we crash and burn.

  2. Ovomit and my ex would get along perfectly. BOTH believe the same dollar can be spent a hundred places simultaneously~!

  3. Kathy says:

    During his reign we’ve learned that anything he ‘dismisses’ should be of great concern to the rest of us. Phony scandals and expensive vacations come to mind.

    His little speech left out the fact that last time we raised the debt ceiling our credit rating was lowered for the first time ever.

    He and his jesters may believe that bunk, the rest of us know better.

    Love the picture, btw.

    • Hardnox says:

      Thanks. We’ve been hearing about the horrors of deficit spending for decades but now were are told that it’s OK. Sorry that meme doesn’t work anymore. As you stated, we know better.

    • myfoxmystere says:

      His puppet master just celebrated his 83rd birthday this weekend. That explains the sudden rotten carcass stench from the smartphone screen and other computer screens.

  4. bullright says:

    Great …so now we know math nor economics were his strong suits. But even a community organizer should know better than that.

    I want to see the expert they will pull out of their collective azzes to explain that one.

  5. myfoxmystere says:

    http://myfoxmystere.wordpress.com/2013/09/22/happy-birthday-george-soreass-uh-soros/

    Here’s the birthday boy whose wish for 0bama to screw us over has come to pass. Feel free to wish him happy birthday; I left the link above to the birthday not so well wishes…hee hee!

  6. Buck says:

    Grouchy we might’ve had the same ex. Mine thought as long as there was blank checks in the checkbook there was money in the bank………..

  7. Buck says:

    Possibly…..possibly.

  8. Clyde says:

    These asshats prove BEYOND a shadow of a doubt: Democrats are MORONS, and not to be trusted around such things as money, power, or guns. H.Jesus Christ.