Obama finally pushed the US economy over the economic cliff as he intended

Discussion in 'Politics' started by P@triot, Sep 20, 2012.

  1. P@triot
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    P@triot Gold Member

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    “I want you to listen carefully to what Mitt Romney said is the biggest problem in our country.* A response to a question – listen to what he says about the Federal Reserve.

    “Yeah, it’s interesting…the former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that we’re issuing—which they’ve been doing, the Fed’s buying like three-quarters of the debt that America issues. He said, once that’s over, he said we’re going to have a failed Treasury auction, interest rates are going to have to go up. We’re living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder who’s loaning us the trillion? The Chinese aren’t loaning us anymore. The Russians aren’t loaning it to us anymore. So who’s giving us the trillion? And the answer is we’re just making it up. The Federal Reserve is just taking it and saying, “Here, we’re giving it.’ It’s just made up money, and this does not augur well for our economic future."

    The section of Mitt Romney’s “gaffe” tape you haven’t heard – Glenn Beck
     
  2. uscitizen
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    uscitizen Senior Member

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    Obama did follow his predecessors path in economics.
     

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