Is this man certifiably insane or just another slick politician who is a master of the misdirection play? Earlier this week his administration announced an annual deficit that is FOUR TIMES as much as last year's deficit under Bush, and yesterday he says this...
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 precisely what ALL conservatives in America have been saying since his misguided Stimulus B.S. bill was proposed in January!
My bet? He's a well practiced liar who is very adept at saying one thing while doing quite the opposite. If he really believed what he just said, he wouldn't have MORTGAGED OUR CHILDREN'S FUTURE!