Washington (CNN) - As President Barack Obama sat down with television stations from three key political states, he said he is still hopeful the White House and congressional leadership will come to an agreement to raise the nation's debt ceiling but said politics is interfering.
"This is actually a self-created crisis in some ways. It has to do with folks who are digging into set positions rather than saying how do we solve a problem," the president told KMBC, a CNN affiliate in Kansas City, Missouri.
When asked if people can expect their Social Security checks in August, he told the station it is not guaranteed.
"I am going to do everything in my power to make sure they do. My interest here is not scaring people. I want everyone to understand the consequences. If you don’t have money you have to make very difficult choices. The fact of the matter is if you don’t raise the debt ceiling then we have more obligations - 70 million checks have to be sent out - and all of those have to be covered."
Saying "there is no reason this should be a problem," Obama urged all the parties again to take "a sensible approach" to the issue, emphasizing a solution should also include major deficit reduction that has both spending cuts and brings in more revenue.
He again complimented the "Gang of Six" proposal, which he said shows both Republicans and Democrats can compromise. The plan, which has bipartisan support among senators, includes both revenue increases and cuts in entitlement programs.
"If we have that kind of philosophy, then over the next couple of weeks hopefully we can put this behind us," Obama said.
While several of the interviewers pushed him on presidential politics, he mostly stayed above the fray.
Asked by KMBC who among the Republican presidential contenders could beat him, he laughed for a second and said, "I have to tell you I am so occupied right now doing the people's business that I am just not spending a lot of time right now worrying about the Republican field."
Obama did say he thought voters will base their election on their perception of his performance and not as much on the efforts of his would-be Republican challenger.
"If next November they feel like I have been on their side and I've been working as hard as I can and I have been getting some things done to move us in the right direction I will win,” the president said. “If they don't, then I will lose. That is not to say that the other candidate is irrelevant, but it does say I am probably going to win or lose based on their assessment of my stewardship."
Asked by WBNS, a CNN affiliate in Columbus, Ohio, what his strategy was to win that key state next year, he said, "I'm not thinking about elections. I'm thinking about all the families that I hear back from in Ohio and across the country who are, you know, struggling, maybe a spouse has lost a job, they used to have two paychecks, now they got one, trying to make ends meet."
Obama said if the economy grows and other problems are solved, then "politics will care of itself. And that's going to be true in Ohio, that's going to be true across the country."
He said on both stations that Americans understand the nation's economic problems were not created overnight and that progress, although slower than many had hoped for, is happening.
"What people want to know is that we're moving in the right direction even if they're frustrated with how fast we're moving,” Obama said. “We need to speed it up, but I think the trajectory's a good one," he told WBNS.
Yes Barry this is a self-created crisis. You created it. Haven't you noticed that we are running a $1.6 trillion per year deficit, exactly equal to the amount you and your fellow Democrats in Congress raised spending by.
In 2006 you said... "The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “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".
100% AGREE. WE NEED TO RE MAY HIM EVERY DAY. HE IS THE WORSE PRESIDENT EVER. CARTER MUCH BETTER . AMERICA GET EXPERIMENT AND NOW WE EAT THE FRUIT.
Wtf, was that even English?
@Karl ...that is about par.
I agree totally and think to come out of this as a country we need to cut ourselves off spending wise with other countries by shipping our jobs over seas and build the facilities here and keep it all here like it used to be therefore creating millions of jobs building the facilities and some day working them!. also immigrants and aliens work cheaper yes but there taking our jobs people and taking their 5 year tax free dollars back home across our borders with them. if we would just stop letting other countries do our work for us and making them stronger while we stay in debt we can make it like we always have, on our own! along with the scandals of past and present higher end peeps looking out for them selves,vacationing and building at our expense i have seen all these things i have mentioned that have come to pass is why we are having these problems now just take a look back!
I agree totally and think to come out of this as a country we need to cut ourselves off spending wise with other countries by shipping our jobs over seas and build the facilities here and keep it all here like it used to be therefore creating millions of jobs building the facilities and some day working them!. also immigrants and aliens work cheaper yes but there taking our jobs people and taking their 5 year tax free dollars back home across our borders with them. if we would just stop letting other countries do our work for us and making them stronger while we stay in debt we can make it like we always have, on our own! along with the scandals of past and present higher end peeps looking out for them selves,vacationing and building at our expense i have seen all these things i have mentioned that have come to pass is why we are having these problems now just take a look back
sorry for the double post guys!
Things That Bear Repeating Regarding Our Debt “CRISIS”
Posted by CPW ⋅ May 3, 2011
In case you missed this astonishingly good article from the Washington Post‘s Lori Montgomery on Sunday, let me hit you with a few of the highlights (underlining occasionally added for emphasis).
The nation’s unnerving descent into debt began a decade ago with a choice, not a crisis.
Wait…just a decade ago? I thought it was LBJ’s Great Society programs! I thought it was Massive Federal Spending on the social safety net! Who was president a decade ago—anyone remember?
In January 2001, with the budget balanced and clear sailing ahead, the Congressional Budget Office forecast ever-larger annual surpluses indefinitely. The outlook was so rosy, the CBO said, that Washington would have enough money by the end of the decade to pay off everything it owed.
Well, in January 2001, Bill Clinton was president. When not explaining his sex life to special investigators, he spent most of his two terms winning budget fights. Turns out he left us in pretty good shape! Whose steady hand was at the tiller after Clinton took a seat?
Now, instead of tending a nest egg of more than $2 trillion, the federal government expects to owe more than $10 trillion to outside investors by the end of this year. The national debt is larger, as a percentage of the economy, than at any time in U.S. history except for the period shortly after World War II.
Polls show that a large majority of Americans blame wasteful or unnecessary federal programs for the nation’s budget problems. But routine increases in defense and domestic spending account for only about 15 percent of the financial deterioration, according to a new analysis of CBO data.
The biggest culprit, by far, has been an erosion of tax revenue triggered largely by two recessions and multiple rounds of tax cuts. Together, the economy and the tax bills enacted under former president George W. Bush, and to a lesser extent by President Obama, wiped out $6.3 trillion in anticipated revenue. That’s nearly half of the $12.7 trillion swing from projected surpluses to real debt. Federal tax collections now stand at their lowest level as a percentage of the economy in 60 years.
Ah. There’s the rub. Those Bush tax cuts and the recessions that came with two terms of Bush’s economic/fiscal “policy” cost us pretty dearly, especially given…
Big-ticket spending initiated by the Bush administration accounts for 12 percent of the shift. The Iraq and Afghanistan wars have added $1.3 trillion in new borrowing. A new prescription drug benefit for Medicare recipients contributed another $272 billion. The Troubled Assets Relief Program bank bailout, which infuriated voters and led to the defeat of several legislators in 2010, added just $16 billion — and TARP may eventually cost nothing as financial institutions repay the Treasury.
Wars aren’t cheap. Especially when you pay for them on credit. “Yo, China, gimme a few more billion so that I can bomb Baghdad. You know I’m good for it!”
Obama’s 2009 economic stimulus, a favorite target of Republicans who blame Democrats for the mounting debt, has added $719 billion — 6 percent of the total shift, according to the new analysis of CBO data by the nonprofit Pew Fiscal Analysis Initiative. All told, Obama-era choices account for about $1.7 trillion in new debt, according to a separate Washington Post analysis of CBO data over the past decade. Bush-era policies, meanwhile, account for more than $7 trillion and are a major contributor to the trillion-dollar annual budget deficits that are dominating the political debate.
Ok, so let’s review. Bush tax cuts (plus slight addition from Obama’s tax deal w/GOP last December) cost approximately $6.3 trillion in revenue. Bush’s wars in Iraq and Afghanistan cost another $1.3 trillion in deficit spending, and the Bush prescription drug benefit cost $272 billion. That’s $7.8 trillion of our current national debt. That’s over half of our national debt. That’s silly money.
Meanwhile, TARP cost $16 billion…probably less. Add that to the stimulus bill and you have $735 billion. That’s minor league money in comparison (but only relatively…because it’s never accurate to call “billions” or “trillions” of dollars “minor league” in any absolute sense)
Just the interest on the Bush debt will amount to about 79% of our national debt at the current interest rates. If interest rates rise 1% it will be even more. The Bush debt has been referred to as a Tsunami of debt.
Plenty of blame to go around:
This is a democrat party created dilemma. No federal budget for 2010. Obama puts high speed rail, SSN, medicare, unspent stimulus, Obamacare off the negotiating table. He refuses to discuss specifically what areas he would cut or even how much. He won't write anything down. He threatens seniors and military with their monthly checks. A hell of a president.
How can you tell the president is lying? The words on his TelePrompTer aren't moving, opppps or are they?
Another lie begets another lie by this administration, apparently no one in this administration is to blame for the mess they have placed this nation and many other nations around the world in.
if you folks think Obama created this mess and Bush was the fiscal darling you are truly idiots. Maybe you have something constructive to add to the discussion, instead of Faux news talking points.
O didn't create the mess on his own, but he has had a very large part in making it worse for the past 3 years. Bush was bad, O is worse. Keep watching MSDNC and the crazy guy on HBO. I just cancelled HBO because of him. Many far left libs have commented on many of the FOX talent and said they are ok. Who on Fox News don't you like and why? You libs don't agree with something and you think it needs to be taken away instead of simply turning it off or chosing not to subscribe. BTW, you don't have to go any further than Steve Wynn, the billionaire Dem from Vegas, to hear what O has business in this country. Look up his comments – you may be very surprised.
BTW, 418,000 first time jobless claims last week – Bush's fault – right? We keep hearing how many jobs this administration has added, but this weekly new claims number has been steady for quite some time now. The left wing press and the dems just ignore it because it doesn't fit into their talking points.
From Molly's Middle America website for Friday, July 8, 2011.
How Many New Jobs Were Created in 2011 (June update)?
How many jobs were created in all of 2011, from December 2010 to June 2011? Have jobs been lost in 2011?
* In seasonally adjusted numbers, 757,000 jobs have been created in 2011. That's 126,200 a month.
* In "raw" unadjusted numbers, 1,029,000 jobs have been created in 2011. That's 171,500 a month.
Have jobs or workers been lost in 2011?
In 2011, we have had only net gains in jobs and numbers of workers. To repeat, no jobs or workers have been lost in net numbers in 2011.
How many jobs were created in the last month?
* In seasonally adjusted numbers, 18,000 jobs have been created in the last month.
* In raw unadjusted numbers, 376,000 have been created in the last month.
Yes, people will have lost jobs but more jobs have been created than lost. Recovery is always a slow process...says she who lived the Reagan nightmare.
The Fox Nation is for those opposed to intolerance, excessive government control of our lives, and attempts to monopolize opinion or suppress freedom of thought, expression, and worship. Bush was horrid getting us into this mess, canadite obama was voted in on his promises, but what we got was far from that. yes the ceiling has been raised many times, but not @ 14 trillion,so how high would you consider too high?..30 trillion?..80 trillion?...a million trillion?...spending is running the country into the ground,the federal govt, was never intended to be the biggest employer in the U.S. as long as our leader does nothing about the lobbyists, wall street coruption, corprate greed , and the "war mindset of politicians"...like he promised, things will only continue to get worse.
This mess is bipartisan. Raising the debt ceiling as a way of handling the debt is as foolish as getting another credit card to manage household debt. We have to cut something now. They are making empty promises of cuts down the road. The only promise they will deliver on is higher taxes and more debt. We can no longer indulge the fantasy. You cannot build a budget on "if come". You have to spend within your income. There is no need to stop paying debt. Just stop paying for unnecessary things. How will we know what the unnecessary things are? Stop acting like endless debt is an option and it will be easier to find that answer.
If president Obama stops social security checks think of how many innocent people will be out on the street, think of how many children will not be able to go to school if they do not have the money to afford their school supplies, their books, their uniforms, their shoes or their meals. Think about all the children that will be out on the streets. You can't do that to innocents. If he put himself in americas shoes then he would see that some people need that money in order to live. I pray to God that it will not happen because then we have to worry about people out in the streets with no where to go. I think about that and I'm also thinking about my family as well. I love this God and I love this nation and we have to have places to live, we all have to have food to eat and my heart goes out to all those who would be affected if they cut social security. It's time to pray not only for ourselves but for our president and ask God to let everyone get their checks in August.
Why not try this? #1 Instead of outsourcing our jobs to the lowest bidder over seas and sending money there and building up other countries such as Tiawan, China, Japan and Mexico ect.. we could suck it up get off our lazy bums and build facilities here and do our own work like we used to and then create millions of jobs and keeping our money inside our own borders! #2 be tougher on immigrants and aliens who come here work tax free at a lower pay just to return home across our borders with USD currency. Or when they live here they pay taxes as any one else. #3 Tax the government instead of the people or the wealthy as we all know they are supposed to be an educated people but yet they for some reason let us get in this mess but got huge raises the in the past couple years but right about now its looking like it wasn't well deserved as our leaders are actually considering cutting off its seniors and disabled who worked and paid in to a government who can't protect them after Social Security has turned 76 years old this year i can say it is something along these lines where we went wrong not to long ago. I say instead of looking out Mr.Obama try looking in and start sweeping of those porches before even looking at ours! peace!
I am fairly sure that someone from the oval office is seeing if any comments get posted here, so this is to the President: The Debt Ceiling is an independent issue from the budget, as far as I've been led to understand. Pay our bills, then LOOK FOR A DIFFERENT METHOD TO CAP GOVERNMENT SPENDING. It is not in the best interests of millions of people to spend, but there could be AN (1 OR 2) instances where it could be needed to some degree: look for an alternative method of guaranteeing LESS GOVERNMENT SPENDING, because WE CANNOT BORROW!! How about the $9 Trillion Budget from Coburn...take some, use some, remove some until it is acceptable, but first get past what is needed to be done. If my interest on my little credit cards is killing me, our SPENDING NEEDS TO STOP, and Congress should not get paid for one day they aren't at work...Remove lifetime benefits. They will understand...we all need to help in every way we can. I am growing the food I eat...and i really don't want to keep paying Congress's LUNCHES AND DINNERS while I am trying to keep my BROCCOLI alive long enough to get a crop!
People, lets get real here. Under Bush the dept ceiling was raised 7 times in eight years. Under Obama the dept ceiling will be raised 1 time, now is that a comparison? If you think so than you just don't like Obama and whatever he does. The truth is that our politician has created theses problems year after year and they are the problem because they all have to vote on each and every issue. Instead of voting for what their District wants they vote for what their fellow politician wants.
You should look up Aesop's Fable about the Goose that laid the Golden Egg. Obama does talk doesn't he? Well Nero Fiddled while Rome burned so now you can see the simularities.
This idiot amazes me everytime he opens his mouth. Can we invoke the 25th Amendment?
"The president said that when voters go to the polls, "what they're going to be asking themselves is who's got a better vision for moving the country forward."
What is your vision Mr. President? Socialism? Taking from one and giving to another, taking away all incentive to succeed, causing the hard working to give up their accomplishments to those who do not have the same talent or work ethic?
"And if next November they feel like I've been on their side and I've been working as hard as I can and have been getting some things done to move us in the right direction, I'll win. If they don't, then I'll lose."
How can you be on our side when all of your policies have not created one job! How can you be on our side when you refuse to decrease our dependency on foreign oil holding us hostage to oil cartels! How can you be on our side when you practice class warfare by having 51% of our elligible tax payers not paying any taxes but having the other 49% carry the load and wanting to increase it even more! How can you be on our side when you lie and demogouge for your own political reasons! You have spent more than any other administration in this nations history and not succeeded on any of your promises! I could go on but we all know you have not done a thing in our favor! except spend more than any other administration!
Sorry Mr. president but you will not get my vote because you are not on my side!
I'm amazed how hostile people are toward this President. He hasn't been perfect, but few are. Without ARRA this country would've imploded into a depression and the American Auto industry would be a history lesson instead of selling more cars now than ever. This Debt-Ceiling nonsense is a Republican created political side show. It's basically voting on whether you want the US Economy to collapse overnight or not... There shouldn't even be a debate. In fact, there doesn't need to be. If Obama was the evil socialist you think he is, he would've already raised the debt ceiling on his own using his Emergency Powers... but he didn't. I think he wanted the country to see once and for all that the Republicans want our country to fail. That's the size of it. Given the choice between a stable country and a second term Obama or apocalypse and blaming it on Obama... they choose Apocalypse.
Were you amazed when people were looking to hang Bush? The auto industry would have been better off now if it were left to file chapter 11. Ford would be a world leader right now and most likely picked up most of the slack left by the current American Motors. Time will tell on this one, but we (the American people) have lost billions given what the stock is worth now to save a bunch of high priced union jobs. The so called non-sense could have been avoided if the dems put a budget forward before the last election – they had a majority in both houses. No one said he was even, but Obama Care is close to the socialist EU policy and he wants to grow governmnet biger and bigger – call it what you will. The repubs want a capitolistic society, not what we are getting under this community organizer – Just ask a dem (Steve Wynn).
The report just came out. Chrystler lost us 1.3 billion alone.
The Big 3 – GM, Ford, and Chrysler – each reported a profitable 2010. Their collective unit sales rose 19 percent from 2009, one of the worst years ever, as more consumers returned to showrooms.
GM showed a $152-million quarterly profit – on July 11, 2011
Ford shows best 1st Quarter in 13 years-on April 27, 2011
July 24, 2011 Ford reports $2.3 Billion net profit for second quarter of 2011.
So, much for your gloom and doom predictions....BTW how much are you being paid to post this continual Teapotty gloom and doom?
You're damn right I'm hostile toward this President. He's placing programs and policies in place that will change the economic and moral fabric of this country for generations to come (and not in a good way). He is a direct threat to my family.
Thank you.@ LRhodes...we have some real morons whose only goal is to whine on this site...they find one little thing to pick at in an ocean of improvement and good news.....and whine, whine, whine.
The president is absolutely correct. Raising the debt ceiling shouldn't have become a major catastrophic event – how many times has it been raised without incident? This is all just political gamesmanship by the republicans – who are more concerned with their "brand" than with the future and credit of this country. Truth be told, we're in this mess because of unfunded intiatives – two wars, medicare drug program, and the bush tax cuts – none of which were paid for. None of it. Again, the republicans run up the debt and then throw up their hands and blame the other guy. This strategy is backfiring on them, polling shows the Americans have had enough of the republican games.
Wow, reading these comments I feel like I've stumbled onto a different planet – one where facts and reality are optional – sorry crackpots, it doesn't work that way. Wallow in your bitterness, but that doesn't change the facts of how we got here.
Want to review unusual post's? Comments on the Huffpost are screamers. Central theme is what's mine is mine, what's yours is mine also. The President is in way over his head and is no longer believable.
So no debt has been run up over the past 3 years? Then was then, this is now.
"raising the debt limit is a true sign of poor leadership" do you know who said this? Sen. Obama.
Eighty-five percent of the current national debt is Bush era national debt.
SEN. MENENDEZ: And it’s not just talking about President Bush, it’s the policies that they espouse that are in essence Bush’s policies. Those led us to a 72 percent increase in the debt from $5.7 trillion to $9.8 trillion when Bush left. It led us to a massive elimination of the surplus that Bill Clinton gave George Bush, and he had a $1.5 trillion deficit when he left office.
How would you like to come into office with someone's $1.5 trillion budget deficit facing you? Just the interest on the Bush era debt is about $450 Billion a year...and that is at the current interest rates if interest goes up 1% the total amount would rise.
Newest meme: tea party is a cult, republicans won't raise debt ceiling because the president is black, and "Americans want a balanced approach" – more taxes now & maybe some spending cuts down the road.
Another freakin racist heard from. Go back under your rock.
No, I think Likely_Suspect is stating the likely reason Teapotty/Republican members are not budging.
The United States Senate Exchange wants to bail out their Wall Street cronies again?
QE3 and the third "summer of recovery" is just like the previous two.
Gang bang of six – rape squad assaulting the American middle class.
These are real and likely events – unlike the completely false fears we've been hearing about not raising the debt ceiling.
Over the past 77 years, counting back from 2010, the Democratic Party has completely controlled Congress 75% of the time 58 out of 77 years often with vast majorities. Congress spends the money and writes the legislation. The Republicans have been pikers.
(Numbers from Wikipedia – control of Congress) Senate House
Who exactly is responsible for the current condition of this country and who exactly is responsible for all these massive “to big to solve” entitlement programs?
The answer is the Democrats, The Progressives. Pick a problem and see when it passed and see who controlled Congress or when they “fixed” it. The programs that are such a mess and the root cause of all our problems today are the Democrats’ Progressive programs, spawned and contorted during their massive majorities in Congress over the last 77 years and starting with the initiation of the FED in 1913.
Poorly designed and even more poorly managed.
And that’s a fact Jack.
Speaker of the House from January 6, 1999 to January 3, 2007- Dennis Hastert- Republican due to Republican control of the House of Representatives.
Speaker of the House- 1995-1999 – Newt Gingrich Republican
Current Speaker of the House-John Boehner Republican
From 1995 to 2001 both Bob Dole and Trent Lott Republicans were Majority leaders of the Senate due to control
From 2003- 2007 Bill Frist Republican was Majority leader of the Senate due to a Republican control.
The two people most at fault for the current condition are: Ronald Reagan and George W. Bush whose failed policies of trickle-down, voodoo-economics or supply-side disaster, or whatever name you want to use to refer to the Taft financial method of destroying the American economy...as practiced by Hoover. Those are the people who are at fault.
All it has proven is you shouldn't fight 2 wars financed on the government's credit card, while giving war-profiteering billionaires tax breaks.
And I happen to be 76.
Their willl be many americans committing suicide if you betray the american Seniors, Disabled, Children. If Republicans refuse to pay their fair share of taxes; we middle americans won't pay our fair share either, because we won't be able to afford to pay our taxes or maintenance, groceries, put gas in our cars, and pay for our healthcare and prescription drugs. We need our Social Security checks, and medicare advantage plans.
The Republicans act like stubborn children, and refuse to compromise, but they expect middle class americans to put their sacred cows, Social Security, and medicare on the table; so Obama can give Republicans what they want, and to hell with us. They don't care That we have bills to pay also.
Screw the Republicans, teaparty, and Obama.
Give up your wealthy billionaires, oil profits,etc,etc, you morons in congress. Give us our entitlements that were promised during Franklin Delano Roosevelt's 2nd term of office, 1935. We want our Social Security checks, and make sure we get them by August 2nd or 3rd. You are going back on that promise.
Entitlements my foot, I paid for those entitlements...since when is something you paid for each week from your pay charity...and entitlement is something you have paid for the right to receive. That George W. Bush raided funds to pay for his unfunded wars, and unfunded mandates doesn't mean they are not due.
Just eliminate the welfare we have been paying in tax breaks for his wealthy war-profiteering friends.
wheres our bail out?
maybe we should just dissolve congress get rid of the problem and rule our own country and vote on the problems on a majority rules basis! why not we do that every 4 years when we vote for president if we can vote to put 1 man in power why not vote to put ourselves in power or go to war or on anything these these guys vote on? i mean obviously its not working out putting the pencil pushers in charge is it? the funny thing is they are the college grads and supposed to be the best at what they do! what do you think America?
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