By Roger Runningen and Hans Nichols
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.”
REALLY?!?!?!?
full article
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.”
REALLY?!?!?!?
full article
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"I pledge allegiance to the flag of the United States of America, and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all."
OHMYGOSH. It's like his first day on the job!!
Argghhh....
my worry is that he is not being as stupid as he sounds here. i'm afraid this is just a set up for 1)printing even more money 2)even more taxation 3)more restructuring of how we do business and 4)more government take overs