when it was time to raise the debt limit under george w. bush who was president then, barak obama said can t do it. sorry. it would be unpatriotic. he said america has a debt problem. i intend to steve: here we are on the precipice of his second term. do we imagine that anything is going to be different than the first term where he ran up the tab? no. i think that s pretty clear and if you look at the national debt from president to president, bush was a big spender. got it up to 7 trillion. but obama at 16.4 trillion and at this inauguration people are saying, no, he s not a spender. it s all bush. steve: of course. this is unsustainable. this is the big crisis of our time. steve: what s the statute of limitations on blaming bush run? never. there is no statute of limitations on murder or blaming bush. steve: all right. john stossel.
@billhemmer. bya. we have one of those in 40 minutes for a lawmaker on debt and deficit spending that we re mixing up at 16.4 trillion. all yours. martha: hopeful. it is about the economy that is bad here in the united states. we ll tell you where unemployment just hit 26%. you don t wan to be there, folks. plus kapernicking? that is what he is doing, the 49ers quarterback. that little craze right now sweeping the nation. why it is now a legal term? bill: hot dog. dit card rewards are easy to remember with the bankamericard cash rewards credit card. earn 1% cash back everywhere, every time. [ both ] 2% back on groceries. [ all ] 3% on gas. no hoops to jump through. i earn more cash back on the things i buy the most. [ woman ] it s as easy as. one! -two. -[ all ] three! [ male announcer ] the bankamericard cash rewards credit card.
past 8 to 11 years. the nuance is they re not raising if they approve this, they re not raising the debt limit, they re saying we re not going to enforce the debt limit until may 18. that way the republicans can say we didn t vote for an increase. we re just voting to temporarily suspend enforcing the limit. so interesting politics in all of this. it has to be done, because the u.s. will default on all financial obligations. right now the debt limit is $16.4 trillion. exactly. and they expect to hit that late february or early march, we ll hit that limit. so this buys some time. again, washington is best at kicking things down the road. but also, the president has said this is money we ve already spent. this isn t saying give us more money, these are bills we ve already incurred. that s why he used that analogy, you go to dinner, you eat and run out the door when the check comes. you ve already racked up the
the nuance is they re not raising if they approve this, they re not raising the debt limit, they re saying we re not going to enforce the debt limit until may 18. that way the republicans can say we didn t vote for an increase. we re just voting to temporarily suspend enforcing the limit. so interesting politics in all of this. it has to be done, because the u.s. will default on all financial obligations. right now the debt limit is $16.4 trillion. exactly. and they expect to hit that late february or early march, we ll hit that limit. so this buys some time. again, washington is best at kicking things down the road. but also, the president has said this is money we ve already spent. this isn t saying give us more money, these are bills we ve already incurred. that s why he used that analogy, you go to dinner, you eat and run out the door when the check
question they blinked in the showdown with the president and are giving him another three-month debt extension. you know the real problem and i just want to make this point, the problem isn t whether we are going to have a debt limit showdown, the problem is that we are borrowing $16.4 trillion. all we are doing here, martha to be realistic about it is we are saying, coach doing what you re doing, we are going to keep borrowing at the same pace. this is not a solution. martha: matt, i look at this i feel like every time there is a so-called deadline we all know that the deadlines are so squishy and congress always figures out some way not to have to feel with the deadline and live in the real world and get the work done. i think people are sick to death of this. we ve almost become numb to it i think. last year when this was going on the stock market got hit really hard leading up to a deal finally seeing done. you re not really seeing the stock market react. that tells me we ve had