In an interview with George Stephanopoulos, Barack Obama claimed that there was no “immediate” debt crisis:
Well– I understand. Which is why, at some point, I think I take myself out of this. Right now, what I’m trying to do is create an atmosphere where Democrats and Republicans can go ahead, get together, and try to get something done. And, y– you know– I think what’s important to recognize is that– we’ve already cut– $2.5– $2.7 trillion out of the deficit. If the sequester stays in, you’ve got over $3.5 trillion of deficit reduction already.
And, so, we don’t have an immediate crisis in terms of debt. In fact, for the next ten years, it’s gonna be in a sustainable place. The question is, can we do it smarter, can we do it better? And– you know, what I’m saying to them is I am prepared to do some tough stuff. Neither side’s gonna get 100%. That’s what the American people are lookin’ for. That’s what’s gonna be good for jobs. That’s what’s gonna be good for growth.
Now that Obama is President, the debt will be in a “sustainable place”?
And don’t you know that some of us bitter clingers have a crisis mentality:
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.
But golly the debt sure was an issue in 2007:
In fact, Bush adding $4 trillion in debt was downright “unpatriotic”
But now adding $6 trillion to the debt is magically “sustainable.” Doesn’t it seem that $9 trillion is more sustainable than $16 trillion? Or $20 trillion?
Then again let us not forget that once upon a time Obamacare was not a tax
STEPHANOPOULOS: I wanted to check for myself. But your critics say it is a tax increase.
OBAMA: My critics say everything is a tax increase. My critics say that I’m taking over every sector of the economy. You know that. Look, we can have a legitimate debate about whether or not we’re going to have an individual mandate or not, but …
STEPHANOPOULOS: But you reject that it’s a tax increase?
OBAMA: I absolutely reject that notion.
So here’s a table for liberals:
Bush $9 trillion debt = not sustainable
Obama $20 trillion debt = sustainable
Get it now?
As I always say, liberals have zero long term memory. Obama counts on them. Heavily.