Obama seeks to spend grandchildren’s wealth on today’s welfare

Obama actually said to actual business people at an actual Business Roundtable in our actual captial, according to CNS News.

“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. …

“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.”

Well, if they’ve raised it 100 times and have to raise it again, there sure seems to be a connection between spending and raising the debt ceiling. It may not be a mathematical causality, but it sure is a human nature one — there is no price pay for profligacy, so keep spending like drunken sailors. No offense to drunken sailors.

We are taxing our grandchildren and they have no representation. They have every right to revolt.

27 comments on “Obama seeks to spend grandchildren’s wealth on today’s welfare

  1. dave72 says:

    The way the “I despise government” crowd denies any and all environmental problems (97 percent of climatologists say climate change is real) I don’t think our grandchildren will have to worry about their taxes going up because they’ll be too busy getting sick from being poisoned by our environmental “hoaxes.”

  2. Vernon Clayson says:

    Dave72, climate changes/environmental problems on this huge globe will not be, as you assert, as dire or dramatic, or as soon as “our grandchildren’s time”. We can’t even be positive that the affects of the last ice age are over, any minor warming may be part of that cycle. Have you any notion of the number of generations that endured the coming of that age, it didn’t start overnight, it took nearly innumerous centuries to advance, populations moved ahead of it and were established so long in those advanced stages that people thought their ancestors had always lived there. The Europeans that “discovered” Greenland had no idea the greening was so recent that the greenery was barely established. Your descendants to the end of your line will see very little change in earth conditions, spring follows winter, etc., they will notice their tax burden under any government will increase.

  3. nyp says:

    the debt ceiling extension pays for obligations we have already incurred. not adjusting the debt ceiling is like refusing to pay your Visa bill.

    except that it will have a catastrophic effect on the US and world economy if the Republicans default.

  4. Then tie it to something like Obama’s sequester.

  5. nyp says:

    No. You you don’t say “I will pay my past electric bill if the electic company will charge me less in the future.”

    If you don’t want to spend money, pass the bills that reduce spending. Pass it through both houses of congress, and either override the President’s veto, or elect a President who agrees with you.

    But do not play games with defaulting on the full faith & credit of the United States.

  6. Milty says:

    Nyp: Why are you comparing the national debt to someone’s Visa bill and utlity bill? Aren’t you the same guy who previously wrote, “But to get back to the topic at hand: why in the world would anyone analogize the budget of a national government with a reserve currency to that of a family? What sense is that? And, even if drawing such an analogy were at all useful, where is the figure for the family’s 30-year home mortgage?”

  7. Steve says:

    Actually, raising the debt ceiling is normal for people in the USA.

    Lots of people raise their personal debt by paying one credit card with another, writing checks they need to cover with another credit card within the three day lag, pay day loans and grabbing those (increasingly rare) “zero” interest rate credit cards when they are offered.

    And why not? After all these people are only following the example their elected leaders are setting. Its GOOD to borrow money to pay old debt, hell its EVEN BETTER to borrow money to simply pay the INTEREST on that old debt!

    Some of us disagree, some of us finding ways to turn a layoff into another job and using the severance to wipe out 99% of that old debt.

    I am happy to say I am one of those people. My current work through date is Sept 22 and I start with another outfit on Sept 30. By eliminating the old debt I will actually be increasing my cash on hand and better yet the lay off cost me less than $1000 annually.
    So, Nyp, no worries. I will also be carrying employer sponsored health insurance, I will not be grabbing the Medicaid option. It would have been possible in January had I not secured a position with another outfit this fast.
    You should take note, my skills are among those that remain in demand and it was still a 45 day search with at least 20 rejections. I secured two interviews and the first company hired internally when one of their current employees decided to move to Las Vegas. I am hiring on with the second company. Even with in demand skills, the job hunt is no way near as easy as it was the last time I changed jobs in 1999.

  8. Milty says:

    Congratulations on your new job, Steve.

  9. nyp says:

    1. steve – congratulations. glad you will be getting insurance coverage through your employer.
    2. Milty — I knew you were going to say that!

  10. Wendy Ellis says:

    You have brightened my outlook, Steve! Just this morning, I started looking into what it would take to move to Norway. I’m college educated, B.S. in Chemistry, with nearly 25 years’ experience in analytical chemistry, 20 of which are in wastewater treatment and process control. So, I meet Norway’s requirement for residency in that respect. Time to do more research on a unique and beautiful country, and a little on-line study of the Norwegian language. Hey, Norway has just elected some conservatives, and is taking advantage of their off-shore petroleum resources. At this point, it is just a thought. But there is always a need for wastewater treatment, everywhere in the world.

    We should all be prepared to market our skills, in case we must adapt to an unexpected event. And, to adjust our lifestyles: In response to my pay being cut, and being furloughed two hours per week, I have focused on paying off all of my debt (except for my mortgage at the moment). How am I doing more with less? Cut off cable TV and home phone, paid off all credit cards and carry zero balance, paid off two cars. It took a lot of discipline, and weighing of necessities vs. niceties. I don’t own expensive clothes, but if I need to go on an interview, I can buy something then.

    It’s no wonder I resent subsidizing free food, welfare benefits, free phones, and assistance with utility bills. How many of them watch TV? Get their nails done? Hair extensions? Buy cigarettes? Those who wait for benefits checks (or EBT cards, however that works anymore), are ill-prepared should they run out of other people’s money. If they have not used their unlimited free time to acquire skills, what will they do? Riot and loot? It could happen.

    So, I decided to consider alternative plans, and asked myself, “What would I do if…?” This doesn’t mean I am actually moving to Norway. Just preparing myself to recognize an opportunity, should I become unemployed. My kids are grown, and I don’t have to ask permission from a spouse or parent. I have a passport, but have never used it. Maybe I should.

    Steve, what line of work are you in?

  11. You can’t pass, game the system.

  12. Steve says:

    Wendy, I have been in electronics since high school.

  13. Vernon Clayson says:

    There’s a drastic difference between government and individuals. Government is eternal in one form or another so their debts can continue on while an individual’s life span is measured, when it ends his, or her, debts don’t continue as is, the government and the holders of their debt must be satisfied. My mother wasn’t dead a month and the county demanded reimbursement for her Medicaid expenses. This came as a surprise to me as she had Blue Shield/Blue Cross with her NY state retirement to cover her until she reached Medicare age, when it would have become secondary. I didn’t find out who signed her up for the unneeded Medicaid, or why, but it had to be paid to settle her estate; as executor, I paid. She had no recurring debt other than utilities and taxes but had assets, a home and bank accounts. We read of government paying way too much for Medicaid patients but never about recovery, in her case it didn’t take government very long to find a deceased person with assets. There is no comparison between government and an individual where debts are concerned.

  14. Wendy Ellis says:

    I could enter Norway faster and more easily if I simply tell the truth: I am being oppressed by the government of my home country. I would then be a refugee…

  15. Steve says:

    Just to be clear. My employment ends on Sunday. To take advantage of the severance benefits I signed the AWR. This forum is public and I will not make details public, yet. Suffice to say I worked for an iconic company. During my employ I had a few occasions to provide service to the Las Vegas Review Journal and this was prior to its debacle ejecting the good leadership the paper had.
    A few times I walked past Sherm Frederick’s office and even yours Tom. Neither of you were in those offices though the doors were open they looked “lived in”. You guys were probably out doing your thing at work.
    I wish I could have met you and we almost did one time when the idea of selling the archive material on the internet was being pursued. I am sorry that didn’t work out.
    I have only good feelings for the company and even after the AWR ends I expect I will remain positive about them even as I will be able to express myself at will.

    Meanwhile, I am in the process of starting new employment and I will make this job mine in the next several months.

    (Click my name)

  16. nyp says:

    Moving to Norway sounds like a terrific idea. It is an incredibly prosperous country in which each and every citizen is guaranteed low-cost, high-quality healthcare. One of the most comprehensive welfare state societies in the world.

  17. Wendy Ellis says:

    Hey, nyp…I just want to keep my options open.

  18. Tommy H says:

    No matter what is said by the President half this country will believe him. Over half of this country is “no smarter than a 5th grader”. No pun. This is getting to be a real problem. The average grade posted by military applicants in the past 10 years is LESS than 45. THAT;s THE AVERAGE. The rate of drop outs from HIGH SCHOOL is increasing at the rate of the 1950’s. It’s no wonder that the AVERAGE American can’t understand anything about economics. Something we consider math 101 in business. You have to bring in more than you spend each month (or each year) else you will be broke (bankrupt). America will be bankurpt in five years at Obama’s whip. And, if the Dollar fails as the world’s standard of currency, it will become worthless (less value than a penny). Our military won’t be able to help, due to the huge cutbacks. The Navy total employment number for last month was 40,000 enlisted and commissioned personnel. Get a handle and hang on, cause all those credit cards won’t be of any help either. You are quoting prophecy, Thomas. There are rules in place that already forbid the Govt. to spend more than they budget. Obama already broke the first rule by not even completing a budget for the last 5 years. So how can tt be shameful to deny approval to increase a budget that was never legally approved. Beware of those bearing free gifts and returns when you are the one who employs them.

  19. nyp says:

    Good point – blame the American people. It’s all their fault.

    Bonus point for simultaneously attacking Obama for supposedly not cutting spending and for spending cutbacks in a personally-favored program (the Navy).

  20. Milty says:

    You raise a good point, Nyp.

    For too long, the attitude has been, “Raise taxes, just don’t raise my taxes. Cut spending, just don’t cut spending that I consider sacred.” In a way, it is the fault of the American people because most of us have this attitude.

    There’s a lot of hypocrisy in the Democratic Party, but there are countless examples where Republicans are hypocrites about this too. One of the bigs ones is agriculture subsidies. A small example that recently came up has to do with conservative Republican Senator Heller trying to prevent the closure of a small post office north of Reno.

  21. nyp says:

    Yes, I agree with you, of course. But as a good liberal, I am happy taxing and spending more, so long as the taxes fall on the right people and the money is spent wisely.
    You may disagree.

  22. Athos says:

    We do disagree, petey boy. Which Communist Plank was the one that addresses our low information voters? Let me see…….

    Oh yea… Number 10!

    10. Free education for all children in government schools. Abolition of children’s factory labor in its present form. Combination of education with industrial production, etc. etc.

  23. nyp says:

    How dare you slander Karl Marx by charging that he favored free public education and the abolition of child labor! I deny that he ever advocated such noxious and absurd ideas!

  24. Athos says:

    Long range goals. Get em while they’re young and defenseless, and you can fill their heads with anything!

  25. Nyp says:

    I blame Horace Mann.

  26. Steve says:

    Oh sure….. pick on Massachusetts.

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