President Barack Obama says”We’re Out of Money”

Lovely! Just Freaking Lovely! In are moment of  candor President Barack Obama says “We’re Out of Money.” The breathtaking statement was taken during an interview with Steve Scully of C-Span on Friday(5/22/09)

Excerpt Via Matt Drudge :

'WE'RE OUT OF MONEY'
Sat May 23 2009 10:32:18 ET

In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: "We are out of money."

C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.

SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we've made on health care so far. This is a consequence of the crisis that we've seen and in fact our failure to make some good decisions on health care over the last several decades.

So we've got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it's putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.

So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don't reduce long-term health care inflation substantially, we can't get control of the deficit.

So, one option is just to do nothing. We say, well, it's too expensive for us to make some short-term investments in health care. We can't afford it. We've got this big deficit. Let's just keep the health care system that we've got now.

Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything...

SCULLY: When you see GM though as “Government Motors,” you're reaction?

OBAMA: Well, you know – look we are trying to help an auto industry that is going through a combination of bad decision making over many years and an unprecedented crisis or at least a crisis we haven't seen since the 1930's. And you know the economy is going to bounce back and we want to get out of the business of helping auto companies as quickly as we can. I have got more enough to do without that. In the same way that I want to get out of the business of helping banks, but we have to make some strategic decisions about strategic industries...

Developing…

This is Galling. After going on a spending spree the likes of which we never seen.  He blames of his spending  spree on health care. WHAT!?!?!?! You got  to be kidding me. This is the most asinine statement from this man yet.

Bailout after bailout, Taking over banks, and car manufacturing companies dictating  the type of cars we’ll drive.  Using hypothetical green energy via a cap and tax(I mean  trade cap and trade) so that our energy bill sky rocket.  Taxing everything in sight and we’re out of money.

The people of California rejected the state government schemes. Now the president says we’ re out of money. But he wants to keep doing  what he doing.  Does this make any sense?  And he wants to go on  to Socialized health care and other schemes.

A recent Rassmussen Reports survey says 77% of those who were surveyed  says the government need to cut spending and not raise taxes. But this man and most of the politicians don’t want hear the voices of the people and is hellbent on his spending campaigns .Which is insane.

I can’t wait for the reaction on the markets on Sunday(Monday) in Asia and Tuesday in Europe. This is going to be fun watching the dollar plunge; gold and oil skyrocket; and market go more  red than a lady of the evening with red lipstick on walking on a hot summer night on Hollywood Boulevard, lipstick melting. NOT!!!!!!!!!! (G__ that’s ugly).

C-Span

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