Spending Is Bad, M’Kay?
…says the man who’s spent more than anyone, ever
May 14 (Bloomberg) — President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.
“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”
Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”
This is the guy who is currently spending $150 for every $100 of projected revenue.
With all due respect…what an ass.
“Most of what is driving us into debt is health care, so we have to drive down costs,” he said.
No, it’s rampant, out-of-control-drunken-sailor spending by the bastards in government, on both sides of the aisle.
Politics | tree hugging sister | 
May 15, 2009 6:42 am
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The Won thinks we have very short term memories, or he does.
Reminds me of that old tale about the guy who killed both his parents and then tried to throw himself on the mercy of the court as an orphan.
As per usual – it’s never what HE is doing – it’s everyone else who has to change, cut back, do without. What a jerk he is! (I’ll leave it at that so he doesn’t send the speech police to arrest me.)
The only way to avert this budgetary calamity is universal healthcare.
Meet the emerging narrative. Remember never let a good crisis go to waste. This is the upcoming thrust. Better get used to it. The talking points have been written and distributed.
That and “Do it for Ted.”
For someone whose campaign slogan was “Yes we can,” he sure says “we can’t” an awful lot.