Washington Post: John Boehner: Debt crisis not ‘immediate,’ but ‘looming’
And he’s in good company according to the article which is from an interview on ABC News’s “This Week With George Stephanopoulos.”
The nation does not have an “immediate” debt crisis, but a “looming” one which requires attention from lawmakers right now, House Speaker John Boehner (R-Ohio) said in an interview broadcast Sunday.
and of course last week on the same program President Obama stated…
“We don’t have an immediate crisis in terms of debt”
and to complete the party we have Paul Ryan in agreement (from CBS Face the Nation)
“We do not have a debt crisis right now, but we see it coming,” Ryan said on CBS News’s “Face The Nation.”
And you know what, it’s hard to argue with them because with interest rates so low there obviously isn’t a huge problem. Of course, how much of the debt is the Federal Reserve purchasing?
My problem is as follows:
- President Obama is too arrogant to believe there could actually be a debt crisis on his watch, or if there is one, that he can’t raise his arms and “part the red sea”
- John Boehner, when his mouth moves, at least wants to actively address the debt. That said, I don’t believe he has any idea how unstable our financial system is becoming under so much debt
- Paul Ryan – My best guess is he’s trying not to sound like a “radical” but realizes that the situation is serious. That said, when his mouth moves, he agrees with Speaker Boehner
The trouble with this idiots is they have no idea how quickly the tide will turn. When the tide goes out, none of them will have any clothes on. It’s way too late by the time there’s a tsunami warning. I’m not predicting armageddon tomorrow but when it comes it will be unexpected, at least to the uniformed. Our fiat money system is based on confidence and that can disappear with lightning speed.
