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Barack Obama: I'm Not Going To Chase A Balanced Budget, Just For The Sake Of It
Business Insider ^ | 03/13/2013 | Joe Weisenthal

Posted on 03/13/2013 7:44:33 AM PDT by SeekAndFind

Barack Obama did an interview with George Stephanopolous on the debt and and budget talks that are happening now. The transcript is here.

There are probably two big headlines to come out of it. One is that the two sides are too far apart for a grand bargain.

The other is that Obama says there's no immediate debt crisis.

The latter is the most controversial because people will say Obama is in denial, but it's objectively true. Borrowing costs are very low, and for the next several years, deficits are likely to be at what people call "sustainable" levels (levels that aren't bigger than nominal GDP growth).

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: balancedbudget; obama
EXACT QUOTE FROM BARACK OBAMA:

Well, the– you know, those are still tough. But the conversations are still takin’ place. And– and part of what– I’m– I’m tryin’ to encourage Congress to think about is yes, we’ve got some big disagreements on the budget. But we’ve made some big cuts. There’s not– in any way– an immediate crisis with respect to– our finances. The economy is growing. And, you know, there may be disagreements that we can’t bridge right now– when it comes to financial situation. I’m hopeful that we can. But let’s not have this crisis mentality stall all the other progress that needs to be made to help– Americans find jobs, help Americans grow the economy.

I’ll– I’ll give you an example. We should be helping Americans refinance their homes right now. The housing market’s finally recovering. We’ve got an opportunity where ev– every American out there could get up to $3,000 in, basically, found money just by refinancing from high rates to low rates. That’s like a massive tax cut for millions of Americans that would go to businesses, help create the– the climate where pe– employers wanna hire more. The only thing that’s holding us back is Congress hasn’t authorized it yet. Those are the kind of things that we should be able to do and do right away, even if we don’t solve every other– disagreement that we’ve got on.

1 posted on 03/13/2013 7:44:33 AM PDT by SeekAndFind
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To: SeekAndFind
"I not going to chase following the Constitution, just for the sake of it."

So ... when you took that oath of office, you were lying?

Just give me a reason to lead the charge for impeachment of you.

2 posted on 03/13/2013 7:50:59 AM PDT by Servant of the Cross (the Truth will set you free)
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To: SeekAndFind
deficits are likely to be at what people call "sustainable" levels

Wow! ..and this guy writes for a business magazine?

3 posted on 03/13/2013 7:52:04 AM PDT by TexasCajun
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To: SeekAndFind
But we’ve made some big cuts.

As in ending White House tours.

4 posted on 03/13/2013 7:53:46 AM PDT by tbpiper
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To: TexasCajun
Just wait til the "free money" falacy seeks a qualified level of value. 8% rates will explode debt service.

Cash is king right now. But wait until speculative business expansions and growth turns the corner from cash to borrowing, and Obama will be less popular than the ex-mayor from Detroit. Hopefully they can share a cell together.

5 posted on 03/13/2013 7:58:35 AM PDT by blackdog (There is no such thing as healing, only a balance between destructive and constructive forces.)
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To: SeekAndFind

So he admitted everything he does is for his own political gain.

Nice quote BO.

We, the little, people can just suck it up- while you reign?


6 posted on 03/13/2013 8:02:05 AM PDT by Truth2012
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To: TexasCajun

Wiesenthal’s an imbecile. Why we continue to post his tripe is beyond me.


7 posted on 03/13/2013 8:07:12 AM PDT by traderrob6
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To: SeekAndFind

When OBama hasn’t even submitted a budget for four years,
he has no right to argue about finances of the country.
All right ,.. he submitted a budget that got zero Democratic votes .
It demonstrates that he has no understanding of finances.

Obama’s budget is a 5% increase of expendables
and will NOT balance the books, ever.., ever ..
Ryan’s budget is 3.5% increase of expendables and will balance the books in 10 years.
That is the difference .
So much for alledged bi-partisan approach between a debt continuation budget and balanced budget .
And we have to ‘give in’ so as to demonstrate our co-operation ?
I call B.S. !
That is the nature of the political impass .


8 posted on 03/13/2013 8:08:13 AM PDT by Tilted Irish Kilt (“Freedom is never more than one generation away from extinction.” - Ronald Reagan)
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To: SeekAndFind

For all of Slick Willy’s personal fiascoes at least he had the common sense to somewhat cooperate with the GOP towards getting a balanced budget unlike the total Fraudster.


9 posted on 03/13/2013 9:06:00 AM PDT by tflabo (Truth or Tyranny)
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Comment #10 Removed by Moderator

To: TexasCajun; jimrob

It’s BI and he’s writing to his audience’s reading level.

Jim should ban posting BI. It’s a liberal rag digitized.


11 posted on 03/14/2013 4:04:50 AM PDT by 1010RD (First, Do No Harm)
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