Who Said It?

And now, a blast from the past. Guess who said it (source):

... the long-term deficit and debt that we have accumulated is unsustainable. We can't keep on just borrowing from China, or borrowing from other countries because part of it is, we have to pay interest on that debt. And that means that we're mortgaging our children's future with more and more debt, but what's also true is that at some point they're just going to get tired of buying our debt. And when that happens, we will really have to raise interest rates to be able to borrow, and that will raise interest rates for everybody -- on your auto loan, on your mortgage, on -- so it will have a dampening effect on the economy.

... So we are going to have to deal with our long-term debt. As I said before, the biggest thing that we can do on that front is to deal with entitlements. 

... Most of what's driving us into debt is health care. And so we've got to drive down costs.

...  it's time for reform that's built on transparency and accountability and mutual responsibility -- values fundamental to the new foundation we seek to build for our economy

... I will repeat again that my administration is going to seek to work with Congress to execute serious entitlement reform that preserves a safety net for our seniors, for people with disabilities, but also puts it on a firmer, stable footing so that people's retirements are going to be secure not just for this generation, but also for the next generation.

Incidentally, here is the CBO which showed just this past week what the "firmer, stable footing" looks like:

Don't know the answer? Here's a hint - it's the same person who said this in 2006:

 Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.

Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.

Still confused? The answer, of course, is this person.

http://www.zerohedge.com/news/2015-06-21/who-said-it

theeconomiccollapseblog.com/archives/lindsey-williams-martin-armstrong-and-alex-jones-all-warn-about-what-is-coming-in-the-fall-of-2015

http://www.zerohedge.com/news/2015-06-21/jim-rogers-turmoil-coming

www.zerohedge.com/news/2015-06-21/uk-government-study-finds-if-nothing-done-expect-civilizations-collapse-2040

http://www.zerohedge.com/news/2015-06-21/credit-market-warning