Did Obama REALLY say that?!

Discussion in 'Politics, Religion, Social Issues' started by neiltc13, Nov 17, 2008.

  1. neiltc13 macrumors 68040

    neiltc13

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    May 27, 2006
    #1
    From the interview he did with CBS News' 60 Minutes. I can see that he's showing his Democrat colours here by completely fobbing off the concerns about the US' worsening debt crisis.

    I'm just wondering though, will the country support an even bigger amount of debt in order to fund his "change"? Is he just using this as a way to avoid giving people a tax rise (which will have to happen eventually to pay off all that debt he wants to accrue!)?

    I think that the honeymoon period is about to end, and the more policies we hear about the more it will seem like he's been a bad choice. Indeed, in not tackling the debt problem he's looking very similar to Bush.
     
  2. Blue Velvet Moderator emeritus

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    #3
    Did you see the entire interview? Just before he said that, he said that almost all economists from both left and right agreed. Incidentally, they're doing much the same in the UK. These aren't normal times.
     
  3. neiltc13 thread starter macrumors 68040

    neiltc13

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  4. Queso macrumors G4

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    #5
    I'd like to see the entire quote to put that statement in context if you don't mind.
     
  5. leekohler macrumors G5

    leekohler

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    #6
    Thanks- and really, I don't know what he could possibly do to fix the deficit this year. There's got to be a lot of things accomplished before we'll see any real changes. Seems to me that's what he means, and it's typical of times like these. I've seen it before, and it takes a while.
     
  6. Blue Velvet Moderator emeritus

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    #7
    I'm getting a bit fed up with people dissing the guy before he even takes office. He's no fool and knows how to play the long game. Let's judge in 2012.
     
  7. jplan2008 macrumors regular

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    #8
    Yes, he did. (in the 60 minutes interview, I think it's all on HuffPo or try CBS News)

    It's called Keynesian economics. Look it up. This approach is favored by all the countries (except Bush Admin) who attended the G21 conference, Nobel Prize in Economics recipient Paul Krugman, and just about anyone who doesn't believe in supply-side (trickle-down) economics. Look at thread about "mini-depression" for links. The CHines Govt will be spending 20% of their GDP to get out of the (US-caused) recession. Krugman is advocating 4% of ours ($600 billion). We'll probably end up with a plan for 1%.
     
  8. JLatte macrumors 6502

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    #9
    Honestly, if the economy wasn't looking like the black hole of a horse's ass right now, then yes it wouldn't be the best thing hearing him say that. As BV said, these are different times. I see nothing wrong with what he said, we have to get out of this mess somehow. The rate we're going, we can either continue to accrue more debt with no feasible way of paying it back in the future, or spend (hopefully wisely) more now with the hopes of being able to pay it back and not being stressed out that it's going to cost a bit from everyone. I'd rather take the latter chance.
     
  9. neiltc13 thread starter macrumors 68040

    neiltc13

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    #10
    It is natural for people to wonder if the right choice has been made, especially when that person has just told people to ignore the national debt.
     
  10. dukebound85 macrumors P6

    dukebound85

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    #11
    lol anything he says or does now can be critiqued and will be

    lets judge him now as well as every second till 2012 i say
     
  11. Queso macrumors G4

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    #12
    How do you propose the USA pays the debt if the economy spirals out of control?
     
  12. zap2 macrumors 604

    zap2

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    #13
    No...he's dead wrong. Screw the economy....raise tax on everyone right now, so we can get rid of our deficit.


    Sure after that, their won't be anyone to collect taxes from, but heck we don't have a deficit!

    Joking a side

    This idea(the one Obama is talking about) makes sense, get the economy back on track, get people making money again, and then we can raise taxes to pay of the debt and/or cut spending to pay off the debt.
     
  13. JLatte macrumors 6502

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    #14
    Are you completely ignorant to the state of the American economy right now? You're taking that line he spoke out of context in relation to how the overall economy is. Our national debt isn't going anywhere, and if we don't fix anything, we're just going down in a fast spiral. Go look at the layoffs thread if you're still not getting it.
     
  14. Blue Velvet Moderator emeritus

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    #15
    The choice is made. The national debt is the least of concerns. I suggest you read the thread.

    Besides, John McCain wanted to impose a spending freeze. Disaster in a steep recession.
     
  15. mactastic macrumors 68040

    mactastic

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    #16
    First off, would you also say that Dick Cheney showed "his Democrat [sic] colours" when he said this?
    Second, as many if not most economists will tell you, bad economic times are when government SHOULD run a deficit, and lower tax rates. During the good times, you pay down your debt and slowly raise tax rates to where they were before the crisis hit.

    Of course, if you cut tax rates and spend like drunken sailors on weekend shore leave during the boom times, you're not left with good options when the bad times inevitably come around again...
     
  16. .Andy macrumors 68030

    .Andy

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    #17
    Worry and ignore are two completely different words with different meanings. You are making things up.
     
  17. jplan2008 macrumors regular

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    #18
    No, he didn't say that. He said that it was more important to get the economy going again in the short-term.
     
  18. mactastic macrumors 68040

    mactastic

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    #19
    It is with great amusement that I observe conservatives re-discovering their fiscal restraint. Too bad it happened 7+ years too late...
     
  19. JBazz macrumors 6502

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    #20

    Hundreds of billions of dollars spent on war=OK

    A few billion spent on giving people health benefits=irresponsible.


    What nice priorities.
     
  20. mkrishnan Moderator emeritus

    mkrishnan

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    #21
    It quite amuses me how Democrat it is to not care about the debt crisis without considering how Republican it is to create one in the first place. :eek:

    [​IMG]

    (or some variant thereof)
     
  21. Peace macrumors P6

    Peace

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    #22
    Where did you vote at again ?

    your profile says UK. I wasn't aware the British voted in our election. Are you living out of country?
     
  22. gotzero macrumors 68040

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    #23
    Thank you for posting this. I am using it in one of my sections tomorrow.
     
  23. NT1440 macrumors G4

    NT1440

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    #24
    Im really wondering what people think we should do?

    Do we bitch that the deficit has to go up, or do we bitch that taxes have to go up?

    In this situation its one or the other really, we have to go through worse time before things get better, there is no magic wand.
     
  24. mysterytramp macrumors 65816

    mysterytramp

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    #25
    You say:

    But you said he said:

    Deficit and debt are two entirely different things. Our national debt would take generations of austerity budgets to pay off and really, that's a ridiculous plan. People have to pay their debts because they'll die someday. Governments can continue to rack up debt because, by definition, they last forever.

    Having said that, out-of-control spending does no one any good. Clinton produced balanced budgets (in part because of the "peace dividend" that a previous generation of Bushes refused to admit existed) and brought some of the best years the U.S. has seen (at least in my lifetime).

    Even if the statement was taken completely out of context, I don't think Obama is wrong. Having an exit strategy for the recession is a lot more important than an exit strategy on our debt.

    mt
     

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