Obama: ‘We Don’t Have an Immediate Crisis in Terms of Debt’

Posted by on Mar 13, 2013 at 8:50 am
Barack Obama

“[W]e don’t have an immediate crisis in terms of debt,” Obama said. “In fact, for the next ten years, it’s gonna be in a sustainable place.”

Obama continued, “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.”

Then Obama hinted a deal might not be attainable. “But ultimately, it may be that– the differences are just– too wide. It may be that ideologically, if their position is, ‘We can’t do any revenue,’ or, ‘We can only do revenue if we gut Medicare or gut Social Security or gut Medicaid,’ if that’s the position, then we’re probably not gonna be able to get a deal.”

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4 Responses to “Obama: ‘We Don’t Have an Immediate Crisis in Terms of Debt’”

  1. Blue Hen on 13/13/13 at 10:45 am

    Sides? What sides? There are sides in math? If interest rates rise for any reason, we’re screwed because the effort required simply to service the existing debt will force us to the wall. Ask Italy what happened at their last bond auction. or Greece.

    He won’t even address the problem. And he’s contradicting what he said when he was (briefly) in the Senate. “The debt isn’t a problem, because now it’s my watch.” No other reason.