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Obama: This debt-ceiling fight could be catastrophic, you know

Continuing his effort to frame the looming fight over the nation’s debt limit, Obama makes clear “one thing I will not compromise over is whether or not Congress should pay the tab for a bill they’ve already racked up.”

“If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic,” he continues. “The last time Congress threatened this course of action, our entire economy suffered for it.”

Speaking from Hawaii, where the president is vacationing with his family, Obama cautions that another “messy brinkmanship” in Congress would make business owners and consumers less confident.

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The guy is malignant.

forest on January 5, 2013 at 12:03 PM

Of course it is, everything’s a catastrophe with this SCOAMF.

JohnBrown on January 5, 2013 at 12:03 PM

Wow! I can’t wait til Monday now, ’cause I’m going to call my bank and make a similar argument about my credit limit. They will be soooo eager to give me another 500 grand or so, I’m sure.

MikeA on January 5, 2013 at 12:05 PM

Better catastrophe now than a catastrophe 100x worse a few years from now, which may be the only alternative.

besser tot als rot on January 5, 2013 at 12:09 PM

Dude, you have only one out. Negotiate with the GOP. Thats it. What you’re doing now is just spouting rhetoric and fear-mongering.

tommy71 on January 5, 2013 at 12:09 PM

What isn’t catastrophic with this guy?

ctmom on January 5, 2013 at 12:11 PM

I love how he keeps blaming Congress for the “bills”.

I think he might actually be a bit worried on this.

What a small petty little man he is.

gophergirl on January 5, 2013 at 12:14 PM

Electing a commie turd as president could be has been catastrophic, you know.

Pork-Chop on January 5, 2013 at 12:14 PM

“If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic,” he continues. “The last time Congress threatened this course of action, our entire economy suffered for it.”

Obama leads like a petulant child. His other speech referred to all the spending Congress had done.
This guy pretends he has nothing to do with it (or Democrats in the Senate or the Pelosi lead House). And his sycophants believe it.

gwelf on January 5, 2013 at 12:16 PM

make business owners and consumers less confident.

That would be an impressive feat.

The only way you’d do that Bark would be if you started nationalizing car companies or something.

Wait. Wha?

CorporatePiggy on January 5, 2013 at 12:18 PM

The gop will fold like they always do, but don’t worry the feckless gaggle will fight next time.

Panther on January 5, 2013 at 12:25 PM

We are steadily approaching the point where printing “Don’t Blame Me, I Voted for Romney” bumper stickers will become profitable.

Mr. D on January 5, 2013 at 12:26 PM

Not as catastrophic as you, pal.

‘Toon of the Day: Band-Aid

Resist We Much on January 5, 2013 at 12:28 PM

Not as catastrophic as you, pal.

Resist We Much on January 5, 2013 at 12:28 PM

This.

And this:

Better catastrophe now than a catastrophe 100x worse a few years from now, which may be the only alternative.

besser tot als rot on January 5, 2013 at 12:09 PM

I worry that he will push us into massive inflation and/or financial crisis. As someone said, he’s Alinsky, Ayers, Cloward, Piven, and Marx, all rolled into one.

petefrt on January 5, 2013 at 12:38 PM

We are steadily approaching the point where printing “Don’t Blame Me, I Voted for Romney” bumper stickers will become profitable.

Mr. D on January 5, 2013 at 12:26 PM

I will never advertise that fact.

besser tot als rot on January 5, 2013 at 12:39 PM

This is the right time for Boehner and the GOP to take a stand. In the year or two before the election, they didn’t want to make waves. They wanted the Obama v Romney election decided on its merits. And now, it’s past time, and Boehner seems to know this.

Paul-Cincy on January 5, 2013 at 12:48 PM

Some enterprising journalist (I can dream, can’t I?) should has Obysmal the Talking Point if he owns any credit cards and whether those credit cards have any limits. What does he do when he reaches those limits? Threaten the bank that extends the credit?

onlineanalyst on January 5, 2013 at 1:43 PM

“If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic,” he continues. “The last time Congress threatened this course of action, our entire economy suffered for it.”

The above is another of Obysmal’s audacious lies that no one has the courage to challenge him with. Our credit rating was downgraded on his watch because our spending was out of control, and we (he and Congress, actually) were making no effort to lessen our spending liabilities. Our spending was exceeding our efforts to repay our loans.

onlineanalyst on January 5, 2013 at 1:48 PM

So, a responsible executive would look at the threat of the debit ceiling, and use it as cause to refuse to pay for things that Congress has authorized payment for until either the limit is raised or enough money comes in. Obama will instead push money into as many of those “optional” programs as possible so that, when the the debit limit comes up, the first thing not payed will be something like social security or a pay-off of old bonds.

Count to 10 on January 5, 2013 at 2:06 PM