Analysis of Barack Obama’s Debt Ceiling Speech and Various Other Related Lies
By: Jim Byrd
For the presumed leader of the most powerful country on the planet, Barack Obama has the unusual infantile habit of hastily assembling press conferences to cry on the shoulder of the American people, as would a petulant and spoiled child who runs to his mother when he can’t have his way in the outside world, or who runs to mommy for a sympathetic ear, pointing a finger at someone else when he has broken something. Obama has again run crying, now to the world, because he can’t have his way. Also, to add to his frustration, the whole “equal branches of government” thing is just not working out for him. In a recent speech to the domestic terrorist group La Raza, Obama stated, in his best dictatorial tone, â€œBelieve me, the idea of doing things on my own is very tempting.”
Obama cried to the world as he read the wailing words only his teleprompter could produce: “The entire world is watching. So let’s seize this moment to show why the United States of America is still the greatest nation on Earth.” This is an interesting declaration coming from Obama considering that he campaigned on America being a broken, unfair, and backward country, and has since toured the world apologizing for America being the “greatest nation on Earth,” and its exceptionalism.
He cried to the American people, beseeching them to bombard Congress with phone calls to allow him to raise taxes on the millionaires and billionaires making $250,000 per year, and to add additional trillions to the nation’s debt to stave off the potential financial default of America. Raising taxes on billionaires making $250,000 per year is mutually exclusive to causing the county to default: too much borrowing will cause the country to default. The raising of taxes on Americans during a recession that has been extended by Obama’s very policies is purely political theater, and is nothing more than a campaign move for the 2012 election.
Taken from the aggregate of Obama’s whining and sniveling statements, the most ridiculously profound deceptive lie among the multitude of lies was this statement regarding government spending on citizens:
“That is no way to run the greatest country on Earth. It is a dangerous game we’ve never played before, and we can’t afford to play it now….We can’t allow the American people to become collateral damage to Washington’s political warfare.”
There are two interesting points to be taken from this:
Interesting Point 1: “A game we’ve never played before.” Perhaps Obama has forgotten that he and every single Democrat in the Senate voted against raising the debt ceiling in 2006 under President Bush. Obama made it very clear why he voted against raising the debt ceiling:
“The fact that we are here today to debate raising Americaâ€™s debt limit is a sign of leadership failure. It is a sign that the U.S. Government canâ€™t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Governmentâ€™s reckless fiscal policies.â€¦Increasing Americaâ€™s debt weakens us domestically and internationally. Leadership means that â€˜the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
Was it because Bush is white and Obama is black? Representative Sheila Jackson Lee, on record from the House floor, has said that the color of Obama’s skin is the reason that the white populace are against raising the debt ceiling. Or could it be that in 2006 Obama did not quite understand the complexity of the debt ceiling, and does not understand the complexity now, along with his entire administration?
The ensuing two years, 2007 and 2008, Obama was too busing campaigning to vote on raising the debt ceiling again, and chalked up one of his infamous no-votes.
In one of the most repugnant demonstrations of demagoguing, Obama stated during a whimpering session interview regarding the outlook of Social Security checks, “I cannot guarantee that those checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it.” This is another complete fabrication by Obama. History has proven that if Obama does not get is way, those checks may very well not go out. But it will not be because of empty government coffers, it will be because of Obama using the livelihood for retired seniors for his political expediency for the 2012 election.
As ingrained as welfare, Social Security, Medicare, and Medicaid have become into the fabric of American culture, Social Security and welfare did not exist before FDR at the federal level, and Medicare and Medicaid did not exist prior to LBJ creating them. From 1620 to 1935, 315 years prior to FDR burdening this country with entitlement programs, the “game we’ve never played before” did not exist at the federal level because the country was not designed to operate in that manner. Welfare and entitlements were as they should have been: a local and state issue. These are political playthings created by progressives for the purpose of buying and retaining votes.
Would Obama attempt to use Social Security checks as a nefarious stratagem? He has succumbed to the temptation of doing things on his own, as any dictator would. He forced General Motors and Chrysler into bankruptcy. He then proceeded to violate over 200 years of contract and bankruptcy law by defrauding GM and Chrysler bondholders, defying bankruptcy laws that have ruled bondholders are first to be paid in a bankruptcy. Obama then proceeded to hand his pilfered loot to the United Auto Workers Union by rewarding their continued support with the ownership of 40% of General Motors and 55% of Chrysler. This left the bondholders $27 billion with 5 cents on the dollar for their investment. Barack Obama would very well attempt to sabotage the livelihood of American senior citizens, as his past has demonstrated, and it would never register on his moral compass.
Interesting Point 2: The lie about the correlation of raising the debt ceiling and Social Security checks.1) Social Security is sitting on $2.5 trillion in trust fund bonds, which by law must be cashed if Social Security runs a deficit. 2) According to the Social Security Board of Trustees, Social Security in 2011 will have an income of $781 billion and expenditure of $712 billion, resulting in a surplus of $68 billion. 3) The nation’s debt payment is less than 10% of the federal government’s monthly revenues. 4) Not paying the debt is a clear violation of section 4 of the 14th Amendment–an impeachable offense.
What are the reasons for Obama’s caterwauling, crying out to the world, and empty threats? He simply lacks the character to shoulder the responsibility. He wants Congress to be responsible for raising the debt ceiling; he wants Republicans to be responsible for the consequences of not raising the debt ceiling; he wants Republicans to be responsible for cutting spending; and he wants only the responsibility for raising taxes on the millionaires and billionaires making $250,000 per year. He has rejected the plan presented by House Speaker John Boehner, even throwing a tantrum and walking out of the negotiations. A point to be noted: not only was Obama elected without the remotest of executive experience, or any practical experience for that matter, there is no record he has ever negotiated anything before, and he has acted accordingly.
The one thing Obama did not mention in his speech was the word “veto.” If the Republicans present him with a re-worked plan, and he vetoes it, then all the consequences of not raising the debt ceiling fall upon him. But since the speech, Obama has said he would veto the revised Republican two-step plan, this without knowing what the revised plan is as it is still being revised. In all this talk of plans, negotiating, and compromise, there is one interesting fact to note: Barack Obama does not have a plan. It’s hard to reach a compromise between two opposing plans when one plan does not exist. The closest Obama has come to a plan is to raise taxes, give him a blank check, and trust him on cutting spending.
The elephant in the room is the consequences of a downgrade of the United States credit rating. This is the most ominous threat to the American economy in the immediate future. This could very well happen because the best plan so far is Boehner’s revised reduction plan that gives Obama an immediate $1 trillion increase in the debt ceiling with only a reduction of $900 billion spread over 10 years. If a downgrade happens, even if Obama does not veto the Republican plan–assuming it passes both houses of Congress–the political strategy becomes who is to blame for the downgrade and its consequences.
Barack Obama is on track to add more to the national debt than all 43 preceding presidents combined, he borrows $4 billion per day, he has given us a debt so ominous that if you stacked $1 dollar bills on top of one another, they would go to the moon and back–twice. And now he insists on the capability to borrow more without reducing spending. His political ineptness with real-world issues outside full-time campaigning has positioned him as he should be viewed: If America’s credit worthiness is downgraded, it would be apropos. It would only reflect the fact that this country downgraded itself when Barack Obama was elected as President of these United States. This country would have a second-tier credit rating to match a second-tier Executive Branch.
Jim Byrd's website is A Skewed View.