PresidentBarack 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.
Wednesday, November 18, 2009
This Takes Chutzpah!
Obama is now worried about the debt??!! WTF? WTFF???
In an interview with FOX (Huh? Did he have some kind of out of body experience?) in China (They probably told him to do it...) our Master Economist says that too much debt is a bad thing:
Now, we know what a "stern warning" let alone a "sternest" warning from Obama means...NOTHING! Ask the Iranians, they've been "sternly warned" about a gajillion times on their way to their Science Fair project to make Israel glow. Boy howdee, that sure has shown them! How about the North Koreans... So the "warning" part is obviously a joke. And yes, Mr. O, thanks to you and your squad there's about a 90% chance that we are headed to a double-dip, with the second dip looking a lot worse than the first.
Piece of advice, Mr. O, if you are serious about the debt, you would call up your pals Harry and Nancy and tell them to put health care "reform" and cap & trade legislation on ice NOW. Those two pieces of legislation alone - the very thought of the possibility of them being enacted - are adding such uncertainty to the future that small businesses and the credit markets are frozen in fear.
Spare us the rhetoric oh magical one, let's see actions that back it up.