Obama to Americans: We're out of money - New England Patriots Forums

NEPatriot · 05-23-2009, 02:42 PM

DRUDGE REPORT: OBAMA SAYS 'WE'RE OUT OF MONEY' 2009®

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C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.

SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we've made on health care so far. This is a consequence of the crisis that we've seen and in fact our failure to make some good decisions on health care over the last several decades.

Obama makes it official. It's good to know. I thought 1.8T debt would keep us in business for a litle bit longer but I was a little bit 'optomistic'. Thank you for changing us, Obama.

***BelichickFan*** · 05-23-2009, 02:44 PM

Thanks for putting us there, obama.

NEPatriot · 05-23-2009, 02:51 PM

It happened in 03/09

Bair Defends Fee to Build Deposit Reserves Amid Bank Opposition - Bloomberg.com

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Federal Deposit Insurance Corp. Chairman Sheila Bair, seeking to quell opposition to a fee propping up the deposit insurance fund

“Without additional revenue beyond the regular assessments, current projections indicate that the fund balance will approach zero,” Bair said.

So much for FDIC insurance at local banks.

It happened on 05/09.
Banks to Pay Higher Fees to Build FDIC Insurance Fund (Update1) - Bloomberg.com

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May 22 (Bloomberg) -- U.S. banks will pay an emergency fee based on their assets to rebuild the Federal Deposit Insurance Corp.’s reserves, putting a greater burden on large banks to replenish the fund amid the fastest pace of failures since 1994.

The FDIC voted 4-1 today to impose a fee of 5 cents per $100 of assets, excluding Tier 1 capital, backing away from a proposal of 20 cents per $100 of insured deposits. Community banks said the fee on deposits could erase more than half their 2009 earnings. The FDIC estimates it will raise $5.6 billion, lifting the fund from its lowest level since early 1994.

“We have tried to strike the right balance between keeping the assessment low enough so that we do not unduly burden anyone in any capacity,” FDIC Chairman Sheila Bair said at a meeting in Washington. “We have struck upon a rule that is equitable.”

The deposit insurance fund, used to pay customers when banks fail, has been drained by more than $10 billion this year as regulators closed 34 lenders, including Florida’s BankUnited Financial Corp. yesterday and Silverton Bank of Atlanta on May 1. The two banks combined cost $6.2 billion. The tally of failed banks is approaching a 15-year high.

FDIC: Failed Bank List

http://www.fdic.gov/bank/individual/.../banklist.html

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28 failed banks on this May. The list is as long as our freeway.

***Patriot_in_NY*** · 05-23-2009, 03:02 PM

Gee thanks O, we couldn't have figured that one before we spent a trillion dollars.

NEPatriot · 05-23-2009, 03:06 PM

Quote:

Originally Posted by Patriot_in_NY

Gee thanks O, we couldn't have figured that one before we spent a trillion dollars.

Yes, it was OUR LAST TRILLION DOLLARS and he spent it just like that.More changes to come. Stay tune.

http://www.bloomberg.com/apps/news?p...Zsg&refer=news

Quote:

President Barack Obama said General Motors Corp. will reemerge from financial turmoil a “strong company” and that permitting it and Chrysler LLC to collapse could have triggered an economic depression.

You heard what the man said. It's coming.

***reflexblue*** · 05-23-2009, 03:30 PM

Pardon me wrong thread, i don't want to interupt the circle jerk. It looks like its reaching a climax and i don't want to get and cyber skeet on me.

***BelichickFan*** · 05-23-2009, 03:42 PM

Quote:

Originally Posted by reflexblue

Pardon me wrong thread, i don't want to interupt the circle jerk. It looks like its reaching a climax and i don't want to get and cyber skeet on me.

obama quadrupled Bush's record deficit. It's not hard to understand.

***Harry Boy*** · 05-23-2009, 05:38 PM

Impeach Obama

Where's His Birth Certificate
\God Damn Haliburton

NEPatriot · 05-25-2009, 12:27 PM

Here was a guy who promised to make all kind of changes and turn this country around during his campaign. After he got in the office, he wanted trillion dollars in order to make necessary changes and keep this country running. He publicly said that we were out of money last weekend AFTER he got trillion dollars 3 months ago.

Is it b!tching! Liberals crack me up.

***DarrylS*** · 05-25-2009, 12:32 PM

Quote:

Originally Posted by BelichickFan

obama quadrupled Bush's record deficit. It's not hard to understand.

thought he doubled it.. but it is all monopoly money anyways..