On the Letterman Show, Obama Forgets what the National Debt is (Video)

LIBERALS DON’T CARE ABOUT THE FACTS How can Obama fix our economic problems if he doesn’t know (and doesn’t seem to care) what the economic facts are: The national debt was $10 trillion when Obama was inaugurated in January 2009. Today is at $16+ trillion. Obama has added more to the U.S. debt than Bush did in 8 years. Yesterday with David Letterman, Obama admitted that he didn’t know the amount of the national debt and suggested we don’t have to worry about it…in the short term.(!!!) Obama said this when the U.S. economy is on the edge of the fiscal precipice.

TRANSCRIPT (9/18/2012): Letterman: “Now, do you remember what that number was [when you came into office]…was it $10 trillion? Was it that?” Obama: “I don’t remember what the number was precisely.” Letterman: “But see now, if this is me and I got the credit card guy calling me every day, I start to get scared. As Americans should we be scared that we owe that kind of money? Who do we owe that money to?” Obama: “Well a lot of it we owe to ourselves. Because if you invest in a treasury bill or something like that, essentially you’re loaning the government money. In fact, the majority of the debt is held by folks who live here. We don’t have to worry about it short term. Right now interest rates are low, because people still consider the United States the safest and greatest country on earth, rightfully so.” Facts Obama ought to know: In 2012, the national debt is greater than what the entire U.S. economy produced in goods and services Per U.S. taxpayer, that massive level of debt stands at over $111,000+ The U.S. budget deficit for fiscal year 2012 is already at $1 trillion The U.S. credit rating was downgraded by Standard and Poor’s last year Moody’s threatened last week that it would lower the nation’ credit rating from AAA to Aa1 Obama increased the national debt from $10.6 trillion to $16 trillion…a 60% Increase in 4 Years (Videos) Obama called Bush “unpatriotic” for adding $4 trillion to the national debt in 8 years. Debt held by the public was $6.3 trillion on Inauguration Day. Today, it is $11.3 trillion. That’s an 80% increase and sets a new record. The spending explosion on entitlements is the key driver of our medium- and long-term debt problem. More here.