Obama’s Oval Office Address: It’s the Economy…

It is time to stop talking about deficit reduction and get serious about deficit elimination and paying down the national debt.
If we were to apply credit card minimum payment rules to the debt the payment for 2010 would be $520 billion. With zero deficits and half-trillion per year payments it would take 50+ years to amortize the current debt.
But the Obama/Pelosi/Reid triad continue to spend and the CBO projects that by 2020 the payment just to service the interest on the debt will be a required $900 billion. I suspect that with its more recent and more accurate re-scoring of Obamacare costs the real number to service the debt will be over one trillion by 2020.

Hugh … And Obama plans to extend Bush’s tax cuts. You know, the ones that were part of the “failed economic strategies” of the previous administration?
Actually, I guess it’s quite a brilliant move by the Obama admin — extend the Bush tax cuts so they can keep saying it’s Bush’s fault if it doesn’t pan out.

I wonder if he will talk about all the jobs the administration has intentionally killed in the energy industry?

anyone with an ounce of a brain could have done a better job with 870 billion dollars. anyone….he chose who he wanted to stay employed instead of letting the people decide…after all its the peoples money not the democrats money.

How can the president expect the public to believe that he is concerned with improving our economy when he or somebody in his family seems to take a vacation at least once a month. Although he may make a minimal payment ands say he is covering the cost, we know it costs us, the people a large amount in security whenever they travel on vacation. If he were to look around he would see that most people cannot afford even a small vacation, due to the economy, yet he goes often and costs us much. perhaps someone should ask if he believes his going on so many vacations that are well publicized actually improves his acceptance rating with the public.

Why do we keep fighting and spend Tax payers mone Focus seems to be out of sight.. Means, motive, and opportunity for one Singular person? Greed and control .When injustice becomes.”LAW” Resistance becomes a duty.
The Obama/Reid/Pelosi triad have already ruined the Health care and put In abuse:“They are also a threat to the nation’s economic strength, contribute to the financial crisis, and vastly increase the federal debt that economists predict will add to the already existing un believable debt that promises to burden generations of Americans into the foreseeable future.
$569 billion in higher taxes;
$529 billion in cuts to Medicare;
Swelling of the ranks of Medicaid by 16 million This is so totally wrong and lacks care and concern for the American Citizens. So Sad! Where is our Liberty and freedom?

malcat | Aug 31, 2010 12:18:42 PM….”My husband is threatening to handcuff me when I watch this speech.
That’s the only way to ensure I won’t throw something at the TV if the president says the “I” word…you know..inherited.”……Funny, because my wife has to turn her TV volume up so she can hear over my complaints of half truths and failure to man-up and accept responsibility for certain failures!

Deanbob – You miss the point. WE should be careful in our spending. WE should be careful in our use of greenhouse gas creation. Never once have any of the politicians said “I” when they address these items. But, if you watch Obama tonight, carefully count the number of times he says “I” during his speech, remembering the Presidency is not about him. I did that with the State of the Union address until I wore down the pencil.

Hugh; The war in Iraq was a bi-partisan effort. Don’t remember?