AP Accuses Obama of "Iffy Math"

[PatekPhilippe]

Nothing added to the DEFICIT is the key phrase here.....and factually correct.

The debt this debacle will incur will be added to the NATIONAL DEBT as in the selling of securities and bonds to pay for the government run portion of it.

I did note when Obama gave his line about reducing spending, the Democrat response was quite tepid - there was a bit of WTF in the room at that moment!

Exactly. What the liberals/Democrats here cannot grasp is this single budget breaking fact.....which is:
The government continues to borrow EXCESS money (Pt. 1 of the national debt: Intragovernmental holdings) paid into the Social Security Administration and then issues an "IOU" to the SSA. When this money goes into the general fund it then is used for our domestic spending, discretionary spending and interest on the Treasuries, Bonds and Securities( Pt. 2 Public Debt) issued by the U.S. Treasury. Guess who the largest holder of U.S. government debt is right now? You guessed right if you said the Federal Reserve Bank. So right now we are paying the Fed hundreds of billions of dollars in interest. Who in turn...buy more Treasuriy Bonds to get MORE interest. The Chinese are fed up with us and refuse to buy any more Bonds so their share still stands at about a trillion dollars.

Now Obama wants to raise the debt ceiling to borrow MORE money from the Fed....and anyone else willing to part with a trillion or 2. What will this money be used for? A whole host of domestic big government expansion programs, government healthcare and more welfare for people too lazy to pull themselves up and out of the rut they're in. I cannot in good conscience support a President who encourages apathetic, lethargic, shiftless, unindustrious loafing by saying the government will step in and give you what you need.....ON MY FUCKING HARD EARNED DIME!!!

 

[KMAN]

FACT CHECK: Obama uses iffy math on deficit pledge - Yahoo! Newsthreads merged-del

 

[PLYMCO_PILGRIM]

FACT CHECK: Obama uses iffy math on deficit pledge - Yahoo! News

All of us here on the forum with an education in economics have been scratching our head over how Obama's statements about the economy and defecit directly contradict the reality we see in the physical numbers.

 

[Oddball]

Do the Republicans in this thread have any clue what they're high fiving each other about?

This is closer to how news should be reported. This isn't liberal or conservative, it's trying to lay out the facts to discuss the issue in a more rational and intelligent manner. This is how all of the press should be approaching subjects, policies, and what pundits claim.

The facts here show that this attempted fascistic takeover of the entire medical industry is a debacle-in-waiting.

I've been waiting for something intelligent to come out of the media since Brinkley retired.....So far, no dice.

 

[PatekPhilippe]

FACT CHECK: Obama uses iffy math on deficit pledge - Yahoo! News

All of us here on the forum with an education in economics have been scratching our head over how Obama's statements about the economy and defecit directly contradict the reality we see in the physical numbers.

Basically he is appealing to the lesser educated high school drop out crowd, the lifetime welfare recipients and the left wing kooks......basically his base.