President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.
With the U.S. unemployment rate at 10.2 percent, Obama told Fox News his administration faces a delicate balance of trying to boost the economy and spur job creation while putting the economy on a path toward long-term deficit reduction.
His administration was considering ways to accelerate economic growth, with tax measures among the options to give companies incentives to hire, Obama said in the interview with Fox conducted in Beijing during his nine-day trip to Asia.
You just gotta be kiddin’ me!! Does anyone but me remember that this is the President who has spent 6 TRILLION DOLLARS in the last 10 months, to “stimulate” the economy, an economy that has lost over 2 MILLION jobs since the passage of the first “stimulus” bill? Does anyone but me remember that this is the guy who said, “if we pass this stimulus, unemployment will not exceed 8%?” And he is now going to tell us that, is we don’t reduce spending, we are going to double-dip?
Hey folks – – how’s all that hope and change workin’ our for ya?
Like shooting fish in a barrel – so I ain’t gonna go there.
And this warning is addressed to whom?
Yeah, I know, Don R. Preachin’ to the choir, for sure. . . . actually, it was just a rant!! I am disturbed by the state of our republic, and I am having trouble seeing any opportunity for improvement soon. So please forgive. . . . .
jkc1945, sorry, I wasn’t taking issue with your post. It’s just that the notion that Obama is giving “his sternest warning yet” about Federal deficits is perversely amusing (like so many things political). Was this an interview that just featured his internal conversation with himself? Or did he need to go on Fox to communicate with his party’s congressional leadership? It’s really quite ironic, but perhaps of a piece with his apparent notion that talking is in and of itself transformative.
are we sure this isn’t parody?:)
My feelings also Branford (#2), but I cannot help but add a comment about how sad it is that B.O. delivers this message from China. Makes one think that he may have had a “teachable moment” on economics given to him there by our new landlords!
Not to worry. There is no change in the program. The statement of concern regarding our fiscal profligacy was delivered solely for the benefit of who hold our debt and are thinking twice about the wisdom of trusting us to pay them back. Have no fear, though, once back home Obama will ignore his statement on the subject and continue with his Cloward and Piven inspired plan to gift all of us with the brave new world that is the heart and soul of ‘hope and change.’ Faithful adherence to his ideology demands nothing less.
And this is the same man whose confreres in the House would saddle us with a healthcare bill that even the Congressional Budget Office and the Centers for Medicare and Medicaid Services have stipulated will NOT save money, or lower deficits in the short or longer term, and whose cost “accounting” (and I use that word tongue firmly in cheek) hides or shifts much of the real cost around like a street-corner shell game…
Do Obama and the Pelosi-Reid Dems really believe that Americans are THAT clueless? Or have they all quaffed enough Koolaid that they really believe their own fairy tales?
9, R, P and O don’t care what we think or want. They know what they want for us. And we will, by god, take it, live with it and like it.
I’m sure KJS will follow up with a sermon on the need to avoid lawsuits. Bp. Spong will and the leadership of the Jehovah’s Witnesses will issue a joint statement on the importance of the Trinity. Newt Gingrich will speak about the importance of fidelity in marriage. Et cetera.