Sponsored Content
« Scott Brown: I Was Sexually Abused By A Camp Counsellor When I Was Ten | Main | Even Better: Crowd Chanted "Jew! Jew!" As They Raped Lara Logan »
February 16, 2011

Obama: Hey, I Know How To Make My Budget Look Like It's Reducing Spending. I'll Just Ignore The Massive and Growing Ever More Massive Interest Payments I Have To Make.

Full on abdication of leadership and responsibility and all-in on government by lie.

Since Obama's planning to not pay debt interest, anyway, I guess there's no problem if we refuse to raise the debt limit, huh?

To justify the administration claim [of narrowing deficits], Lew said the administration was merely referring to "primary balance" -- or federal spending minus interest payments. Lew sought to forgive the public for their confusion.

"The terminology that we use in Washington of primary balance is a little confusing," Lew said.

"It's because I believe it's dishonest," Ensign shot back.

Republicans were understandably befuddled....

If the government does what the Obama administration is recommending, net interest payments will go from about $200 billion this year to $844 billion in a decade. That's more than the country spends now on Social Security.

White House Press Secretary Jay Carney, at his first official press briefing on the job, used the credit card analogy Wednesday and acknowledged interest rates "have to be contended with."

"But the first important step in dealing with this issue is getting your regular spending and income in balance so that you're no longer adding to the problem," he said. "And interest payments are a major portion of our long term debt problem that we need to address. But it is not an inconsequential deal."

Yet President Obama and Lew neglected to explain this point in their initial statements. Lew, in an interview Sunday on CNN's "State of the Union," said: "Our budget will get us, over the next several years, to the point where we can look the American people in the eye and say we're not adding to the debt anymore. We're spending money that we have each year, and then we can work on bringing down our national debt."

I looked up "primary budget" and it is a real term; so it has some kind of usefulness in discussing budgets, I guess. But it's sure not what we talk about when we talk about budget and balancing budgets.

Bonus points for the Obama Administration "forgetting" to mention they were only talking about "primary budget" when they seemed to be talking about the budget.

Obama As Fletch: Apparently, as a commenter suggests, Obama just plans on floating the crushing debt on the Underhills' tab.

The problem with that is that Underhill noticed a couple of lobster Thermadores and a couple of bottles of champagne. I think he's going to get suspicious when Bam-Bam lays a $8 trillion charge on his account.


digg this
posted by Ace at 04:15 PM

| Access Comments




Recent Comments
[/i][/b]andycanuck (Vwz3I)[/s][/u]: "Off, Norman-Viking bastard sock ..."

Puddinhead: "30 I can’t imagine being one of those soldie ..."

The guy downstairs: "[i] As a country we had God on our side back then ..."

gourmand du jour: "Biden will say he was there and personally killed ..."

Caesar North of the Rubicon: "And it is respected by the locals. They remember, ..."

18-1: "[i]I bet none of those Rangers were trans.[/i] ..."

m: "Reagan https://www.youtube.com/watch?v=CTLVIp1A ..."

Warai-otoko : "28 I truly hope that Biden doesn't say anything to ..."

Tom C: "Nixon opened the political relationship with China ..."

Bulgaroctonus : "I can’t imagine being one of those soldiers ..."

REDACTED: "they staged D-Day during Pride Month bastards ..."

Cheri: "I truly hope that Biden doesn't say anything too i ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64