By Henry Decker

Boehner, Ryan Admit That There Is No Debt Crisis

March 18, 2013 6:18 pm Category: Economy, Memo Pad 13 Comments A+ / A-
Boehner, Ryan Admit That There Is No Debt Crisis

House Speaker John Boehner and House budget chief Paul Ryan have found surprising common ground with President Barack Obama: All three agree that America is not facing an imminent debt crisis. Boehner made a startling admission during a Sunday morning interview on ABC’s This Week: There is no debt crisis.

President Obama made that claim last Wednesday, when he told ABC’s George Stephanopolous that “We don’t have an immediate crisis in terms of debt,” adding, “In fact, for the next 10 years, it’s gonna be in a sustainable place.”

The statement generated a good deal of controversy on the right — the National Republican Congressional Committee, for example, blasted Obama as being in “complete denial about the challenges our country faces” — but it turns out that the highest-ranking Republican agrees with the president.

When Martha Raddatz asked Boehner on This Week whether he agreed with President Obama’s statement, the Speaker replied, “We do not have an immediate debt crisis, but we all know that we have one looming.” Raddatz followed up, asking “So you agree with the president on that?” and Boehner reiterated, “Yes.”

Later that morning, House Budget Committee chairman Paul Ryan agreed as well. On CBS’ Face The Nation, Ryan told host Bob Schieffer, “We do not have a debt crisis right now. But, we see it coming. We know it’s irrefutably happening. And the point we’re trying to make with our budget is, let’s get ahead of this problem.”

Boehner and Ryan’s admissions are sure to come to as a surprise to many conservatives; aside from the aforementioned NRCC, Washington’s budget-scold-in-chief Alan Simpson must have been stunned, given that two years ago he warned of a “debt bomb” blowing up the U.S. economy “before two years.”

But the statements also raise a fundamental question about the House GOP’s policy: If Boehner and Ryan don’t believe that a debt crisis is imminent — and if America’s nearly record-low borrowing costs are any indication, they’re right — then how can they justify pushing for an extremist budget that would slash hundreds of billions of dollars from vital programs supporting the elderly and the poor, and could ultimately cause thousands of deaths?

Indeed, by finally acknowledging that the U.S. will not wake up tomorrow resembling Greece circa 2009, Boehner and Ryan are tacitly admitting the true motivation behind their legislative goals: The Ryan plan is not about the deficit, it’s about crippling the federal government and delivering a huge tax break to the wealthy in one fell swoop.

AP Photo/Jacquelyn Martin

Boehner, Ryan Admit That There Is No Debt Crisis Reviewed by on . House Speaker John Boehner and House budget chief Paul Ryan have found surprising common ground with President Barack Obama: All three agree that America is not House Speaker John Boehner and House budget chief Paul Ryan have found surprising common ground with President Barack Obama: All three agree that America is not Rating:

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Comments

  • charleo1

    About 1850, there was a preacher named Miller. He got the call, as they say,
    to start his very own church. They called themselves, “Millerite,” (naturally.)
    But, as he soon discovered, building a church full of followers was not an easy
    task. With so much competition offering pretty much the same product, it was
    slow. Then the Reverend had a vision. At least he said he did. That God had
    spoken to him, and revealed the exact day, even the exact moment of rapture.
    Of course the Baptist, and Methodist, and Pentecostals, all said the end of
    days, and Christ’s return was at hand. But, none cared to hazard a guess as
    to what day! Well, it wasn’t long before the word got out, and whether it was
    curiosity, or the belief that perhaps this pastor did have a special relationship
    with God. Either way, they wanted in. And business picked up considerably.
    And every Sunday he would announce to a packed house, the year, day, and
    hour, when the last second was going to run out. And with such certainty, all who
    heard him, could not help themselves from believing he must be telling the truth.
    Thankfully, God had allowed a couple of years before the big day. So, It was
    decided, we’ll need to build a bigger church! We don’t hear much about Miller
    these days. Because, all things must come to pass, and so did the Reverend
    Miller’s big day. The morning was crystal clear. So took his flock out onto a
    big field. So as to be the first to see Jesus arrive, from any direction he descends.
    When Jesus did not appear, Miller opened up his Bible, and said, Ha! There it is!
    I must have misread this verse. It’s going to happen for sure, in just a couple
    more years! John Boehner reminded me a lot of the Reverend Miller. Oh, well,
    sure! Did I say we had an urgent debt problem, now? Well, you mark my word.
    We are going to have a big debt problem, one of these days. And, we just want
    to make sure we’re ready! Says Pastor Boehner.

    • http://www.facebook.com/dominick.vila.1 Dominick Vila

      Thanks! :-)

      • CPAinNewYork

        Dominick, you are the man. This is beautiful. Did you make it up out of whole cloth? If you did, you certainly have a future in literature.

        • http://pulse.yahoo.com/_KOPKDFAUQPIIRAFI3HEXNMSHLQ Ed

          @CPAinNewYork-Perhaps you should have read the authors name more clearly.Charleo1 is the author that deserves the credit. Hatred blind some of us.

        • catnip2430

          The Millerites eventually became the Seventh Day Adventist Church

          • http://profile.yahoo.com/HFYZP2APYPP7H6PWS2ZDQRWFEQ Hillbilly

            No the Millerites happpened after the founding of the Mormon Church like some where around about 1848 or later

    • idamag

      Great post! And, like the poor, the gullible we will always have with us.

    • Independent1

      Charle01, as you so aptly illustrated, the GOP will contrive any coming disaster that they can dream up, so as only to distract America from what they are truely all about: doing everything they can do, to keep the country from really moving forward, in an effort to prevent a Democrat President from getting one ounce of credit for improving the country’s future prospects.

      • charleo1

        Something that has always been unique to our Country, and an inspiration. Is Americans, with our political persuasions, and varying economic status, religions, races, or cultural backgrounds, and all those things coming into play, in the competition, and interaction among us as individuals. We have always believed how fortunate we are to be born in America. Or to be able to come to America. That’s the reason, for example, thousands of Japanese volunteered for military service to fight for a Country that was inflicting a terrible injustice on them, and their families, personally. But they didn’t let that shake their faith in the set of beliefs, and ideals that is America.
        What does it say about a man, or a political organization, that is willing
        to cross that bright line, and knowingly harm their Countrymen, and
        Country, for political gain? What are we to do on finding out, years later,
        that Nixon intentionally prolonged the Vietnam War, costing an additional
        15,000 American lives, and how many more Vietnamese? At the ten year
        mark, we look back at Iraq, and can find no path, honestly followed, by
        men with the best interests of America guiding their actions, that would
        have led us into that war. What are we suppose to do with that? Try to
        provide the Mothers, and Fathers, with some kind of compassionate lie to
        hold on to. So they don’t have to live with the fact their child’s life was squandered? I’m asking. Because I really don’t know. My opinion, and
        $5.00 bucks, will get you a fancy cup of coffee. But I see Republicans
        leaders dealing from that same putrid well. Where Nixon extended the
        Vietnam War, Bush, led us into Iraq. And the out of power Republican
        Party of America, continues a policy of dishonesty, and obstruction.
        As both Nixon, and Bush were both rewarded, in their own ways, and paid no price for their treachery. We must, for the sake of our Country see
        that that kind of politics, and treachery is never again rewarded. And,
        maybe that will be something we could do, the thousands needlessly gone,
        would approve.

        • Independent1

          I guess what’s most saddening to me, is watching what seems to be the deterioration of our country’s moral and common sense fiber, where many Americans are choosing purposely to put aside the truth, and focus instead on the sensational entertainment values of not only the news but also of many churches. Unfortunately, millions of Americans, knowing full well that Fox News has been proven time and time again to broadcast lies and distortions, often as nothing more than to extend its political agenda, choose to watch these highly biased news broadcasts from FOX, and even MSNBC, rather than to hear what’s closer to the truth from outlets like CNN and maybe even their own local news broadcast. Similarly, many will join churches purely for the social/entertainment value, even when knowing full well that what they’re hearing from the church’s preacher is a gross departure from what they can clearly read in the bible of the faith their attending.
          I guess our only hope, is that at somepoint, many Americans choosing entertainment and sensationalism over the truth, will wake up and realize that they’re ruining their own future by voting for political candidates based on the lies and distortions they’re hearing from sources not telling them the truth. It appears that after many decades of being brainwashed by the Taliban, that many rural Afgan warloads and towns people are starting to get fed up and are driving the Taliban out of their towns and in some cases even the country. Let’s hope that many Americans that have been brainwashed by the GOP over the past 50 plus years, wake up similarly and start in 2014 to rid our country of what are clearly nothing more than obstructionists in the Republican political party who are only intent on achieving personal and political gains at the expense of their constituents and the country.

  • Independent1

    Obviously, the GOP has known all along that America had not been in a debt crises, but when the GOP is in the business of using anycharades it can come up with for the purpose of instilling fear among the populace to promote their political agenda, it will grab at anything it can find to trumpet. America is currently running a debt to GDP ratio of around 70%: when you calculate a country’s debt to GDP ratio, you do not include debt the country owes to itself in the calculation, which for America is about 5 trillion and climbing.
    Therefore, given America’s current 16.4 trillion debt, and around 5 trillion in debt that it owes to itself, America owes about 11.4 trillion to investors inside and outside of the country. Since current GDP estimates for America range from around 15.8 to 16.4 trillion (which is up almost 1.5 trillion over the past 15 months), our debt to GDP ratio is 11.4 /16.2 trillion of GDP or 70.4%. Now given that most industrialized countries similar to the US run debt to GDP ratios of 80% and higher, even Canada’s is over 85% and Japan’s runs close to 100%, it’s clear that America is not now and has never been in the ‘dire debt’ situation that the GOP hoodwinkers have been selling to the American public. That’s not to say that we shouldn’t be working to bring our deficits into line, but it obviously means that the GOP has been lying all along just so that it can push for spending cuts in virtually every government expenditure that moves the country forward and helps not only Americans in need, but also America’s small businesses as well.

  • onedonewong

    Of course we don’t have an immediate threat now that the Republicans have reigned in federal spending over the past 2 years

  • http://www.facebook.com/people/Frances-Cappelletti/1500810104 Frances Cappelletti

    John Boehner seems drunk most of the time. Notice how he slurs his words, and speaks as few of them as possible…most words are…”we have a spending problem.”…Lyin Ryan’s main goal is to lower taxes for the wealthy, and kill Social Security and Medicare. That’s about it.

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