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dickseacup (67.69)

Joe Biden: ‘We Have to Go Spend Money to Keep From Going Bankrupt’

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8

July 16, 2009 – Comments (5)

From the opening paragraph of a CNSNews.com article:

Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money.

OK, so that's not a direct quote from our esteemed Vice President. That's just what the "journalist" decided to cast the story as. So, what did Joe say, in his own words?  Read on:

“Well, people when I say that look at me and say, ‘What are you talking about? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, I’m telling you.”

I remember the big joke of the dot.com days, where everybody and their brother was "selling each unit at a loss, but making it up in volume."  That mindset is what Biden's quote reminds me of. "We're going broke at the present level of spending, so we have to spend more to stop going broke."

5 Comments – Post Your Own

#1) On July 16, 2009 at 5:40 PM, outoffocus (23.59) wrote:

*brings out government math calculator* Hmm...take government debt + more government spending....carry the 1....add rainbows and gumdrops =....Oooh I see how it works now.

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#2) On July 16, 2009 at 6:01 PM, davejh23 (< 20) wrote:

"...we have to go borrow money to keep from going bankrupt..."

The U.S. is already bankrupt...except there are still creditors out their that are willing to lend us money for now.  Would a bank continue to lend to an individual that has spent far more than their income year after year, and has a horrendous debt/income ratio?  No, they would probably go bankrupt.  It wouldn't be in the best interest of our creditors to just dump us on our butts at this point, but I'm sure they're working on it.  One day, China is going to stop buying treasuries...forever...

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#3) On July 16, 2009 at 8:40 PM, rd80 (98.66) wrote:

Rec + wish I could rec outoffocus's comment.

 

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#4) On July 17, 2009 at 1:55 AM, Eudemonic (68.68) wrote:

Outofocus: You must whistle "My Favorite Things" from the Sound of Music or the numbers won't balance.

 

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#5) On July 17, 2009 at 5:51 AM, YuvbinDuped (< 20) wrote:

Biden is a Bankster controlled idiot!

A two year old knows better than that.

This country went bankrupt in 1870 and in 1871 our 41st Congress altered the Constitution and turned the United States of America into the UNITED STATES OF AMERICA a corporate entity. Our bankruptcy forced us into a partnership with Great Britian who commandeered us through the international Banksters.

Read this:

http://www.barefootsworld.net/constit2.html

This:

http://www.apfn.net/Doc-100_bankruptcy.htm

and this:

http://www.serendipity.li/jsmill/us_corporation.htm

You may then come to understand the facts.

END THE FED!!!

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