ABC:

There has been no shortage of dire warnings about the mounting US national debt, but President Obama is now offering a different assessment: no big deal.

“We don’t have an immediate crisis in terms of debt,” President Obama said in an exclusive interview with George Stephanopoulos for “Good Morning America.” “In fact, for the next 10 years, it’s gonna be in a sustainable place.”

It’s an assessment that will throw cold water on the latest attempt to achieve a so-called grand bargain to reduce the deficit. After all, a grand bargain would require excruciatingly difficult decisions for both sides — for Republicans, it would mean raising taxes, and for Democrats, cutting future spending on cherished programs like Social Security and Medicare. If there is no crisis, why would either side do it?

So, what happens if this latest effort to reach a deficit agreement falls through? Once again, the president’s answer was, essentially, no big deal.

“Ultimately, it may be that the differences are just too wide” to get a deal, President Obama said. “That won’t create a crisis. It just means that we will have missed an opportunity.”

Obama wants no grand bargain, he wants to campaign in 2014 and divide us some more.

pre-emotive strike:

we know Bush did a poor job with the debt.  It was by promoting LIBERAL ideas.

Well, there isn't one. Now.

There may be depending on what happens in the next 30 years.

In response to WhatDoYouWantNow's comment:

BREAKING NEWS: After Barack Obama claimed today that the US has no debt crisis, He has officially taken a new name:

"Pope Bankrupt the First"

In response to ComingLiberalCrackup's comment:

In response to skeeter20's comment:

pre-emotive strike:

we know Bush did a poor job with the debt.  It was by promoting LIBERAL ideas.

Yes....like starting wars of opportunity, doubling the defense budget, huge tax cuts, and ignoring the rising costs of healthcare.  All liberal ideas.

In response to UserName99's comment:

He didn't ignore the rising cost of health care. In fact, health care rose slower under Bush than Obama:

http://freebeacon.com/health-costs-rising-faster-under-obama-than-bush/

Maybe after reading that, you want to sign onto my get government out of the way stance?

Doubling the defense budget? You do know that Clinton ran the defense departement down?  That we had few operating cruise missles atthe start of the Iraq war due to Clinton's mismanagement of Defense?  Bush had to double the defense budget, to protect you.

HUGE tax cuts?  You mean the one's Obama extended until this year?  Yah, you are holding a thimle of credibility on that one.

LEt's switch to liberal programs enacted under Bush:


TARP

Prescription drug benefit

Rising food stamp recipients

No Child Left behind

All liberal programs.  All failures.

In response to Sistersledge's comment:

that's funny right there.  I don't care who you are.  that's funny.

In response to skeeter20's comment:

In response to Sistersledge's comment:

In response to skeeter20's comment:

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The liberal mantra is amazingly dense.

Bush spent too much taxpayer money, and deficits exploded.
That is bad..So to fix it, liberals elected Obama from the Party of Government, to spend incredibly recklessly (40% more in entitlements), give away trillions to Democrat special interests and ring up more of a deficit in 4 years than Bush did in 8. And make sure millions left the workplace permanently, and get millions addicted to free stuff from the government.

Good plan! Keep up the good work.

In response to Newtster's comment:

Does all this rely on assumptions that nothing will change, legislation-wise?

As opposed to promoting the rising costs of healthcare as we are doing now?

As long as we have our own currency, we will never have a debt crisis unless its created by republicans.  We can have an inflation problem, but not a debt crisis.

Hmmm, sounds hauntingly familiar.

Ah yes, but in reverse.  Bill Clinton left office saying SS solvency was the number one problem facing America (hence is private accounts idea that was thrice Bush's).  The minute Bush took office and started talking about said private accounts, Bela proclaimed, "Crisis, what crisis?"

In response to Sistersledge's comment:

In response to DirtyWaterLover's comment:

As long as we have our own currency, we will never have a debt crisis unless its created by republicans.  We can have an inflation problem, but not a debt crisis.

Such a weak grasp on economics.

Debt and inflation are linked.  Your idea that we can innflate our way out of the crisis in some sort of positive way is wrong-headed.  it leads to stagflation, a run on the dollar, higher food and fuel prices, lower living standards.  Like the Carter years.

Read up on it.

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@Newtster ..... why are refering Social Security as a ponzi scheme ? A Ponzi scheme is a illegal activity , why don't you just come out and say that you are in favor of privatizing Social Security and letting the Wall Street hustlers loot it ?

In response to StalkingButler's comment:

Funny. Haven't heard one person claiming that Obamacare "increased health care costs" actually explain in detail - with reference to evidence - how that works.