The United States debt limit explained. A satirical short film taking a look at the national debt and how it applies to just one family.
Showing posts with label Debt Ceiling. Show all posts
Showing posts with label Debt Ceiling. Show all posts
Thursday, March 7, 2013
Debt Limit - A Guide to The Federal Debt Made Easy
The United States debt limit explained. A satirical short film taking a look at the national debt and how it applies to just one family.
Saturday, December 29, 2012
Charles Krauthammer - Obama Does NOT Care About The Debt
"It has been very clear from the beginning that Barack Obama had NO intentions of trying to solve the fiscal issues. He [Barack Obama] has been using this and I must say with great skill and ruthless skill and success, to fracture and basically shatter the Republican opposition."Charles Krauthammer
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Saturday, November 10, 2012
Jeannie DeAngelis - John Boehner Should Get Out of Obama’s Way
Based on the dismal state of the union and after four years of doing exactly what Rush Limbaugh said he hoped that he would do, by any thinking person’s standards President Barack Obama has indeed “failed.” Yet, despite the catastrophe, on Election Day the American people inexplicably invited the President to spend the next four years beating the dead horse that he killed during his first term.
The next day, after being MIA for months,
Speaker of the House John Boehner crawled out of the tanning bed long enough to publicly assure the President that House Republicans plan to work with him on his sole first-term accomplishment – the looming “fiscal cliff.”Wait a minute, wasn’t it way back in 2008 that Barack Obama told America that “this is the moment” when good jobs would be provided for the jobless, the rise of the oceans would slow, and the planet would begin to heal? Why then, as America drowns in an ocean of debt and sinks in a sea of unemployment, would the Speaker of the House tell Obama “This is your moment…we want you to succeed?”
Reminiscent of candidate Obama exalting himself while on the campaign trail in 2008, Boehner said:
Mr. President, this is your moment. We’re ready to be led not as Democrats or Republicans, but as Americans. We want you to lead not as a liberal or a conservative, but as the president of the United States of America. We want you to succeed. Let’s challenge ourselves to find the common ground that has eluded us.In addition to those comments, did the Speaker of the House really say that “If there’s a mandate in … [the election] results it’s a mandate for us to find a way to work together on the solutions to the challenges that we all face as a nation?”
Well, what Boehner may not have anticipated is that come January working together on solutions will likely include figuring out how to prevent the President’s ardent supporters from melting down when they realize that voting for him did not exempt them from the middle class tax increase that’s due to hit hard when the Bush-era tax cuts expire.
Nonetheless, one way Republicans can still embrace our intrepid leader is by supporting automatic cuts in defense spending. After all, as a Russian nuclear submarine trawls the waters off the east coast of the US, cutting defense spending will help Barack Obama deliver the flexibility he promised comrade Vladimir Putin.
Moreover, if “reaching across the aisle” is the Speaker’s genuine objective, maybe as an inaugural gift congressional Republicans can hand the Biggest Big Spender in American history a no-limit charge card by agreeing to increase the debt ceiling.
John Boehner did claim that the post-election plan is to help Barack Obama move the country FORWARD. But, by the Speaker continuing to insist that raising the top tax rate in a bad economy would hurt small businesses he threatens the elusive “common ground” that he seeks.
However, if Boehner believes that this is truly Barack Obama’s “moment,” why not just let the President do whatever he wants? Republicans in Congress should politely step aside and allow Obama to finish what he started. In so doing, they will inoculate themselves against any ensuing liability as well as avoid becoming the object of Obama’s notorious blame game.
And so, as conciliatory bipartisanship is cultivated and John Boehner encourages Barack Obama to forge ahead, one can only hope that the newfound collegiality in Washington DC includes Republicans helping our determined liberal leader to aim that big ole’ policy gun he has pointed at America’s head downward toward his own foot.
Jeannie DeAngelis
Sunday, August 7, 2011
Rhonda - The Latest Buzz Kill and the Irony of the Debt Ceiling
“It’s like rain on your wedding day or it’s the good advice that you just didn’t take.” As Alanis Morrisette put it, “Isn’t it ironic, don’t you think? Who would’ve thought-it figures.”
He’s getting absolutely no sleep. He’s working tirelessly, meeting with his economic team, doing a lot of outreach, exploring all kinds of possibilities for compromise,In the midst of the three ring circus that was the Congressional attempt to raise the debt ceiling,revised economic numbers were released. GDP numbers had been released early in the year but were so distorted that the revised numbers just out bear little resemblance.
The economy grew at 1.3% falling short of the predicted rate of 1.8%. More importantly, economic growth during the first quarter of the year was reported inaccurately to be 1.9%. It is beyond ironic that the revised number, just released, is actually only 0.4%, which reveals the miserable truth of a stalled economy.
Meanwhile, as the spectacle of the debt ceiling debate raged, Sen. Marco Rubio desperately tried to communicate the dire need to address the deficit with trillions in spending cuts. He stressed the consistently overlooked fact that ratings agencies like Moody’s and Standard and Poor’s had actually called for at least 4 trillion in cuts. Without serious cuts in spending, the U.S. will likely face a downgrade in its credit rating. The debt ceiling was never the most significant factor.
(Video of Sen. Marco Rubio)
Republicans presented plan after plan to raise the debt ceiling with simultaneous spending cuts. However, these attempts were ridiculed on the Senate floor. In the video clip linked below, Sen. Harry Reid called the legislation “weak and senseless” and an “anathema” to what the country is all about.
(Video clip of Sen. Harry Reid’s irrational tirade)
The debt ceiling has now been raised, but the fallout has been record setting market drops and a domino effect worldwide. At last, news outlets like the Washington Post have reluctantly reported the possibility that, perhaps, restoring fiscal sanity could be a wise idea:
The debt-limit deal struck by Congress last weekend has been criticized by some budget experts as failing to address the nation’s long-term debt problems even as it staved off a federal default. About $1.1 trillion in stock market wealth has evaporated since the agreement was reached.You think? Isn’t it ironic that after the shock jock mainstream media hype portraying conservatives as “terrorists” or “thugs” holding the raising of the debt ceiling “hostage” in exchange for actual cuts in the deficit, the subject of trillions in real spending cuts is sheepishly floated a day or two after the deal is sealed?
The necessity of cutting the deficit remains crucial. This attempt by Congress to compromise with entrenched liberal Democrats, who continue to call for outrageous increases in government spending, has fallen woefully short in calming the frayed nerves of global investors and ratings agencies.
As the bedraggled President demanded that the debt ceiling be raised, preferably as a clean bill with no strings attached, the investment class and ratings agencies were continuing their call for deep cuts and responsible fiscal policy. President Obama achieved his goal of raising the credit limit on his worn out credit card, but what did Americans really get in return?
Dear President, I am so sorry to hear of the black fly in your
Chardonnay. For many Americans, though, it’s more like a death row
pardon two minutes too late.
(Artistic acknowledgement of Alanis Morissette, Ironic, lyrics)
Update:
Today, for the first time in our history, Standard and Poor’s has downgraded the credit rating of the United States from a AAA rating to AA plus. Isn’t it ironic that Treasury Secretary Geitner, along with the Obama administration, likely knew the downgrade was virtually assured as they failed to emphasize the necessity of deep cuts.
The media has facilitated this fraud before the American people with its incessant harping on the simplistic, superficial measure of merely raising the debt ceiling without sufficient effort toward lowering the massive deficit.
Rhonda
Rhonda is a stay home mom of two and was a teacher for ten years. She is a graduate of Clemson University and lives in Georgia. She is dedicated to the conservative, Constitutional principles that have made America a great country.
Visit Rhonda's Blog - One Conservative Voice
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Thursday, August 4, 2011
Obama Forges a Debt Deal ... With Terrorists?
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Monday, August 1, 2011
Sessions - Any Debt Limit Deal Is "Only The First Step" To Changing Our Debt Trajectory
JULY 31, WASHINGTON--Sen. Sessions appeared on FOX's "America's News HQ" today to discuss the debt limit and the competing proposals to increase the debt limit (shortly after the interview concluded, Sessions joined 48 other Senators in opposing the plan offered by Majority Leader Harry Reid. That plan was unable to even get majority support, failing by a vote of 50-49.).Sessions also pointed out how much the House of Representatives has compromised this year--after originally passing a budget with over $6 trillion in spending cuts, the House's debt limit proposal cut just $1 trillion in an effort to win support in the Democrat-controlled Senate.
July 31, 2011
Top Senate Dem Gets Law Wrong Trying To Explain Missing Budget
JULY 31, WASHINGTON--In an interview today on "FOX News Sunday," Senate Majority Whip Dick Durbin falsely claimed that Democrats have not passed a budget in 823 days because they have been unable to muster 60 votes for passage.
Durbin's claim is incorrect for three reasons.
First, budget law states that budget resolutions are privileged, meaning they cannot be filibustered, only require a simple majority vote for passage, and can be brought up by the majority party (which controls the Senate floor schedule) at any time.
Second, for a large portion of last year, Democrats controlled 60 seats in the Senate, and still chose not to pass a budget plan for the nation.
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Sunday, July 31, 2011
Sen. Sessions - Washington's Big Spenders Vilify Tea Party For Urging Fiscal Discipline
"It was a shellacking for the big spenders," Sessions reminded everyone of the election results in November 2010. He said the American people's message was, "All you want to do is spend money, buy votes, and say you're spreading the wealth around."July 30, 2011
"The President Thinks It's All About Him"
"Tea Party Didn't Start This Fire - They Sounded the Alarm."
"The President Thinks It's All About Him"
"Tea Party Didn't Start This Fire - They Sounded the Alarm."
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Sen. Rubio - "Save the Whole House or It Will All Burn Down"
On the Senate Floor Sen. Rubio discusses the debt and engages in a debate with Sen. John Kerry.Jul 30, 2011
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Saturday, July 30, 2011
The Other Side of the Story - Trillion Dollar Gold Coins - Yogurt and "Extremists"
A fractious and juvenile Senate almost matched the petulant childish actions of President Obama about raising the 'Debt Ceiling'.Does Obama actually believe that 'Borrowing and Spending' reduces debt and will lead to a healthy and robust economy?
Behind the scenes, Democrats were discussing minting 'Trillion Dollar Gold Coins' as a way around printing more money and raising the 'Debt Ceiling' in one fell swoop. The Liberal MSM tried covering for the Democrats by saying 'They Weren't Really Serious'?
Minting Trillion Dollar Gold Coins With Obama On Them!
Paul Ryan (R-Wisc.) lashed out against plans to cut funds from defense spending, by saying that Democrats would pass a bill "To Cover the Moon with Yogurt costing 5 Trillion Dollars' one Day and then rescind it the next Day and claim they had 'Cut Spending by 5 Trillion'.
Harry Reid continued the 'ObamaFingerPointing' strategy, by stating that those resisting the 'Feckless Spending' of Obama are "Extremists" and holding the President and America hostage by NOT allowing the borrow and Spend President to bankrupt the America and turn it into another Greece?
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Judge Napolitano - We've Defaulted Before
Has the federal government ever defaulted on its obligations before, and if so - why are the White House and Democrats in congress setting up an Armageddon-like sceneario if the government doesn't borrow more money?Originally aired 7/25/11
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Laura Ingraham Show - Allen West slams tea party "schizophrenia"
Congressman Allen West (FL-22) wrote a letter to the American people today explaining his vote in favor of the Budget Control Act.Excerpts from the letter:
"The Budget Control Act is far from perfect but the hard reality is that fiscal conservatives control only one-half of one-third of our government. This bill will make sure the President does not receive a blank check to continue his spending binge and the old ways of Washington, DC - blindly increasing the debt limit without spending cuts- are over. This vote is historic- it’s the first time we are raising the debt ceiling with cuts greater than the increase.
I learned when I was a solider at Fort Irwin National Training Center that when Officers waste too much time trying to come up with the perfect plan, they fall short because they are too inflexible or divided to see the path to victory. However, if you can come up with a 70-75 percent plan and execute it well, then you can win- and that’s what we have in the Budget Control Act.
The Budget Control Act is not perfect, but it is the 70 percent plan that my colleagues and I can execute to 100 percent.
It is now time for the focus to be on the United States Senate to produce a plan to take this country forward.
My fellow Americans, I ask you: If I had voted “No” on the Budget Control Act, who would I have been voting for?"
Representative Allen West
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Friday, July 29, 2011
No Ties, No Draws and No Compromise: Republicans Can't Cave on the Debt Ceiling
“I first saw Alfonzo Rachel on YouTube during the run-up to the 2008 election, and the first impression I had of him remains my strongest impression to this day: The man is FEARLESS — utterly fearless; shockingly fearless. Zo has powerful things to say, and when he says them he says them in such a straightforward, honest and truthful way that the sound you hear ringing in your ears is simply the ring of truth, clearly and bravely uttered. Anyway, after watching a few of his YouTube videos back-to-back, I told the powers that be at PJTV that we needed to get a hold of this guy before someone else did. I asked him to join a panel at CPAC and the instant he got into the building you could see the reaction of people who had already become fans on YouTube. Zo knows how to reach people. He’s a tremendous voice of reason, morality and common sense in this fight for America’s soul, and it is a signal honor to be not only on the same team as Zo, but to also be a friend. It’s a great pleasure to be working with him.” – Bill Whittle 
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Tuesday, July 26, 2011
Jeannie DeAngelis - “Big Deal” Barack Breaks it Down
Who better than Barack Obama knows that “when it comes to actually doing something difficult folks do sometimes walk away?” In a spoiled, childish fit of anger, Obama has rudely pushed away from a table or two himself, stood up, and without explanation “walked away.” The President did it with Israeli Prime Minister Bibi Netanyahu, and he did it again recently in the midst of heated debt-limit talks with Eric Cantor (R-VA), one of a few governmental grooms he has accused of “leaving [him] at the altar.”
Throughout most of his press conference, an undignified President pointed his finger at Republicans and blamed everyone but himself for the current stalemate, saying “I’m not interested in finger-pointing and I’m not interested in blame, but I just want the facts to speak for themselves.”
In case Americans haven’t noticed, the nation is presently being led by a reckless individual who excels in political posturing while saying things like, “I think [Americans are] fed up with political posturing and an inability for politicians to take responsible action as opposed to dodging their responsibilities.”
The President’s obvious lack of self-awareness, coupled with his immense capacity for self-delusion, must be the reason he doesn’t recognize that saying the House of Representatives’ “inability…to arrive at any kind of a position” is based on refusal to compromise “any of their ideological preferences,” is actually an accurate description of himself.
As the rancor drags on, it’s hard to find anyone, regardless of political persuasion, who would disagree that the debt crisis is serious. However, what is even more troubling is having a President who refuses to recognize his own culpability for an already-stressed economy being further burdened by the added weight of healthcare reform, not to mention his stubborn determination to move the nation toward a European-style socialist system.
Typically, whenever the President doesn’t get his way, he shifts into irritated victimhood mode. During the self-exalting, adversarial attempt to pass blame, Obama implied the reason for the impasse hinged on Boehner caring more about partisanship and political posturing than the well-being of the nation, which was a strange accusation coming from a proud “progressive” ideologue like Barack Obama, whose “partisan” wouldn’t recognize a “bi” if it tripped over one.
Wait! In fairness to the President, although his comments did include 93 instances of “I,” he did cite Ronald Reagan twice, which could be considered a form of bipartisanship. In addition to referring to a conservative icon, Barack Obama also boasted of personal “consistency” which, granted, he does exhibit when it comes to self-praise, perseverance on raising taxes, and spending money the nation doesn’t have.
Nonetheless, during the press conference an angry President peppered his Republicans-never-say-‘yes’-to-anything comments with standard class warfare allusions. Obama intimated that Boehner and Co. favor corporate jet owners and oil and gas companies, and go easy on prosperous individuals “making millions or billions of dollars,” like himself. Always sensitive to struggling unemployed Americans, Obama took another opportunity to remind the nation that he’s “done extremely well and can afford to do a little bit more,” but curiously still hasn’t.
Obama’s crotchety podium manner abounded with descriptions of seniors “being deprived of meals, Social Security and Medicare.” The President painted images of poor children rushing toward the entrances of emergency rooms for lack of Medicaid, disabled Americans “hanging by a thread,” people “thrown off the health care rolls,” and a future where only the children of corporate jet owners get to go to college
It doesn’t stop there; the press conference doubled as a quasi-stump speech. The President – who has taken no breaks in campaigning since 2007 and has scheduled his combination- 50th birthday celebration/$30,400 a ticket campaign fundraiser for the day after the nation officially runs out of cash – began by accusing the Republicans of not agreeing to his demand to raise taxes as “[a] campaign ploy going into the next election.”
The President even brought up talk radio and blamed the Tea Party for not wanting the debt ceiling raised, and for being at the root of Republicans being “stirred up” and drawing “sharp ideological lines” that have made the deadlock impossible to break.
Obama said, “I mean, the American people are just desperate for folks who are willing to put aside politics just for a minute and try to get some stuff done.” Does Barack Obama believe that “moving goal posts,” crossed arms, pouts, immature vitriol, edicts to “get here at 11:00 am,” and refusing to go easy on an already-unstable economy and job market are also in the “stuff done” category?
Whenever boxed into a corner the President never fails to use the buzzword “fairness,” which suggests that everyone is unfair other than the benevolent Sheriff of Fairville, Barack Obama – America’s generous dispenser of limitless entitlements.
So adept at manipulation is Obama, that when he said “The hard part is actually dealing with the underlying debt and deficits, and doing it in a way that’s fair. That’s all the American people are looking for — some fairness,” the implication was that America still sees Obama-style “fairness” as the answer to the problem.
Based on his remarks, Obama must want the nation to believe he spends a large part of his day reading mail from fair-minded Americans, who believe “neither party is blameless,” and who want a just President like him to solve the debt/deficit problem without “balanc[ing] the budget on the backs of seniors.”
The President’s comments at his post-debt-negotiation-breakdown press conference imply that he perceives himself to be that “somebody” the nation is “looking for…to look out for them.”
Bordering on deluded, the President, who must assume that “leading” is what he’s doing, challenged Republicans by saying that “at some point, I think if you want to be a leader, then you got to lead.” Happy to rise to Obama’s challenge, Congressional leaders did just that, and did so by choosing to exclude Obama from post-press conference debt negotiation talks. Boehner and McConnell summoned a clueless Pelosi and a “very angry” Reid in an attempt to solve the debt crisis without “Big Deal” Barack who, instead of leading, points fingers, pouts and projects onto others his own pugnacious behavior.
Jeannie DeAngelis
Jeannie DeAngelis writes almost exclusively for American Thinker and has been published on the conservative website Pajamas Media, as well as hosting a blog. See Jeannie's Blog
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John Boehner RIPS into Obama on Debt Issues
House Speaker John Boehner responds to President Obama's scare tactics, class warfare, lies and overall demagoguery in his speech to the nation about debt ceiling legislation. Aired 7/25/2011.President Obama came to Congress in January and requested business as usual -- yet another routine increase in the national debt limit -- we in the House said 'not so fast.' Here was the president, asking for the largest debt increase in American history, on the heels of the largest spending binge in American history.
Here's what we got for that spending binge: a massive health care bill that most Americans never asked for. A 'stimulus' bill that was more effective in producing material for late-night comedians than it was in producing jobs. And a national debt that has gotten so out of hand it has sparked a crisis without precedent in my lifetime or yours.
On the folly of a "balanced" approach:
The president has often said we need a 'balanced' approach -- which in Washington means: we spend more. . .you pay more. Having run a small business, I know those tax increases will destroy jobs. The president is adamant that we cannot make fundamental changes to our entitlement programs. As the father of two daughters, I know these programs won't be there for them and their kids unless significant action is taken now. The sad truth is that the president wanted a blank check six months ago, and he wants a blank check today. That is just not going to happen.
On the state of play:
You see, there is no stalemate in Congress. The House has passed a bill to raise the debt limit with bipartisan support. And this week, while the Senate is struggling to pass a bill filled with phony accounting and Washington gimmicks, we will pass another bill - one that was developed with the support of the bipartisan leadership of the U.S. Senate.
Obviously, I expect that bill can and will pass the Senate, and be sent to the President for his signature. If the President signs it, the 'crisis' atmosphere he has created will simply disappear. The debt limit will be raised. Spending will be cut by more than one trillion dollars, and a serious, bipartisan committee of the Congress will begin the hard but necessary work of dealing with the tough challenges our nation faces.
On the plain truth:
The solution to this crisis is not complicated: if you're spending more money than you're taking in, you need to spend less of it. There is no symptom of big government more menacing than our debt. Break its grip, and we begin to liberate our economy and our future. We are up to the task, and I hope President Obama will join us in this work.
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Monday, July 25, 2011
Ask the President - What are you going to do with $181 Billion Dollars if you're not paying bills?
President Obama, what exactly will you choose to pay? What are your priorities?If you're not going to pay our $17 billion average monthly debt...with 10 times that amount of money on hand to do so...well then, what are you going to spend that money on? Can you tell us what you and Secretary Geithner could possibly see as more important than avoiding default on our debt obligations?
And if you're not going to pay the $93 billion promised to Social Security and medicare recipients in August, when you will have twice that much money on hand, then who are you going to give that money to instead? Who exactly do you think is more important than our senior citizens?
If you're not going to pay for the war you unilaterally launched in Libya, or the war you expanded in Afghanistan; and you're not going to pay our armed forces who are defending our country, and you're not going to pay our air traffic controllers...even though you will have plenty of funds on hand to do so...then what are you going to spend that $61 billion on instead?
America knows that it's going to be your choice where to spend the money, so this is the only questions we want to know from you: Tell us what your priorities are. America demands and deserves nothing less from our chief executive officer.
Where's that money going to go each and every month?
Jul 19, 2011
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Sunday, July 24, 2011
Boehner Reveals Whether a Plan Will Be Released Sunday
Boehner says all of the discussion right now is about how many trillions in spending will be cut.Boehner said that there is going to be a two-stage process, as it’s not possible to do it all in one step. The speaker stressed, “I know the president is worried about his next election. He should be worried about the country.”
Of the Senate’s tabling of ‘Cut, Cap and Balance’, Boehner said, “I continue to believe a balanced budget amendment is the greatest forcing mechanism to bring spending under control. I am going to continue to develop a plan in framework of Cut, Cap and Balance.”
7-24-2011
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Saturday, July 23, 2011
Laura Ingrahm - Interview With Speaker John Boehner
John Boehner revealed how being part of the Debt Ceiling negotiations was like working with “two groups of people from two different planets, who barely understand each other.”10:35 PM EST July 22, 2011
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2 Faces Of Obama In 1 Debt Speech
Obama just finished his press conference after Boehner walked from the table. About half way into the Q&A Obama stiffened his spine and declared that he was not going to do any blaming or finger pointing. So here's a look at the two faces of Obama during one debt/deficit press conference.
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Tuesday, July 19, 2011
Sen. Marco Rubio - Real Problem Is Not Debt Limit, But The Debt Itself
"The way the deal is currently structured right now, it gives the President the ability to raise the debt limit. But as I've said already on the problem: The debt limit is not really the problem here, the problem here is the debt."The debt limit is actually the easiest part of the problem. It's one vote away from being solved. But, if all we do is raise the debt limit and it's not accompanied by a credible solution to America's debt problem, we're in big trouble. And I don't believe this plan, as it's been outlined to me is a credible solution to our debt problem," Sen. Marco Rubio (R-FL) told CBS this morning.
Jul 18, 2011
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Paul Ryan On Mark Levin: Obama "Going To Veto Limited Government"
What this shows you is that basically he's going to veto limited government. He is going to veto the idea that government out to live within its means and that government ought to be limited in its size. And so I think this little episode today is so revealing of the governing principle that we see here which is a government with no limiting principle. And that's what this episode is all about. The fact that we're here talking about this is because it's been 810 days since the Senate ever bothered to pass a budget and if one house doesn't pass a budget, then no budget passes.Obama wasted hundreds of billions taxpayer money with his porkulus bill. As Ryan said, only 6% of porkulus was for infrastructure to create jobs, the rest were for social spending.
Jul 19, 2011
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