Safe Mode: On
Justin Bieber, Political Pundit./The time has come: Group raises $50K+ for Detroit Robocop statue

http://hotair.com/archives/2011/02/17/obamanomics-101-borrowing-to-pay-debt-isnt-debt-debt/

Obamanomics 101: Borrowing to pay debt isn’t debt-debt
Share202
posted at 8:48 am on February 17, 2011 by Ed Morrissey
printer-friendly

When does borrowing not create debt? Only in two instances: when one has no intention of paying it back, and when Barack Obama does it. Jake Tapper asked new White House press secretary Jay Carney exactly how borrowing over six hundred billion dollars in the best year of Obama’s ten-year budget projections (using the rosiest of all possible economic assumptions) somehow qualifies as (a) balanced spending and (b) not adding to the national debt. Carney explains how that works:

TAPPER: If I borrow money from you — to pay — to pay off the interest for -

CARNEY: You may owe me.

TAPPER: Ten-year rule. If I borrow money from you t

-

Added: Feb-17-2011 
By: HydrogenEconomy
In:
Iran, LiveLeaks
Tags: gateway, pundit, obama, hotair, detroit, robocop
Views: 8201 | Comments: 2 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 1
You need to be registered in order to add comments! Register HERE