I cut/pasted the below text straight from Drudgereport. I love the frankness and the obvious intelligence of Obama. I especially like how he answered the last question. He’s cool dude, and he’s from Chicago, so you know he’s crooked.

In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: “We are out of money.”

C-SPAN host Steve Scully broke from a meek Washington press corps with probing questions for the new president.

SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we’ve made on health care so far. This is a consequence of the crisis that we’ve seen and in fact our failure to make some good decisions on health care over the last several decades.

So we’ve got a short-term problem, which is we had to spend a lot of money to salvage our financial system, we had to deal with the auto companies, a huge recession which drains tax revenue at the same time it’s putting more pressure on governments to provide unemployment insurance or make sure that food stamps are available for people who have been laid off.

So we have a short-term problem and we also have a long-term problem. The short-term problem is dwarfed by the long-term problem. And the long-term problem is Medicaid and Medicare. If we don’t reduce long-term health care inflation substantially, we can’t get control of the deficit.

So, one option is just to do nothing. We say, well, it’s too expensive for us to make some short-term investments in health care. We can’t afford it. We’ve got this big deficit. Let’s just keep the health care system that we’ve got now.

Along that trajectory, we will see health care cost as an overall share of our federal spending grow and grow and grow and grow until essentially it consumes everything…

SCULLY: When you see GM though as “Government Motors,” you’re reaction?

OBAMA: Well, you know – look we are trying to help an auto industry that is going through a combination of bad decision making over many years and an unprecedented crisis or at least a crisis we haven’t seen since the 1930′s. And you know the economy is going to bounce back and we want to get out of the business of helping auto companies as quickly as we can. I have got more enough to do without that. In the same way that I want to get out of the business of helping banks, but we have to make some strategic decisions about strategic industries…

SCULLY: States like California in desperate financial situation, will you be forced to bail out the states?

OBAMA: No. I think that what you’re seeing in states is that anytime you got a severe recession like this, as I said before, their demands on services are higher. So, they are sending more money out. At the same time, they’re bringing less tax revenue in. And that’s a painful adjustment, what we’re going end up seeing is lot of states making very difficult choices there…

SCULLY: William Howard Taft served on the court after his presidency, would you have any interest in being on the Supreme Court?

OBAMA: You know, I am not sure that I could get through Senate confirmation… (That’s why I love this guy. He’s smart and funny.)

Hello, Youdopia.  This is a cartoon from the Chicago Tribune in 1934. Sound familiar?  Click the pic to see from where I ginked it.

Well, Youdopia… Jon Stewart took Cramer to the cleaners on the Daily Show last night. In one sense it was amazingly wonderful, but in another sense it is the start of Jon Stewart, politician, and I worry about the Frankenization of a very funny guy. He’s obviously fired up, and goddamnit he won, and he’s right. However, how can he go back to being a funny guy with a great show… he’s now part of the battle. Within ten years I see a senate run, and hubris.

Until then, enjoy the ride. He’s the only one calling bullshit right to the bullshitter’s faces.  This is the coolest shit ever, for real. Bravo, senor Stewart. Remember thou art mortal.

Happy Friday, Youdopia. Many of you have already seen this, but I want to promote this great clip of Jon Stewart sticking it to CNBC on The Daily Show. Talk about polarizing! The plutocrats and oligarchs are harumphing mightily. Thing is… I’m just as broke no matter who’s in power, but I sure am likely to support someone who’s smashing asshole fatcats whose entitlement is so staggering that one has to step back a few paces to even see it. It’s the coolest shit ever.

I say smashy smashy. I snagged this from The Consumerist, btw.