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View Full Version : Obama: Too much debt could fuel double-dip recession

ninetoes
11-18-2009, 10:05 AM
"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."

http://www.reuters.com/article/companyNewsAndPR/idUSN188205120091118
fiver
11-18-2009, 06:42 PM
Well nice of him to worry about it AFTER signing away over a Trillion dollars in bailouts and "stimulus".

And then put out a bloated 2010 budget of $3.5 trillion.
ninetoes
11-18-2009, 06:57 PM
God, now he has an epiphany. Too bad everyone else had this thought quite sometime ago.

Yep. Some of us have said as much for quite some time, and were told we only wanted to find fault with the president, when the truth was, we were actually taking the time to look at the whole picture, not just a snapshot.
IaNsSyAlNuE
11-18-2009, 08:22 PM
Just like when we were saying much of the stimulus giveaway programs were setting the states up for future budgetary failures. That will probably be his next revelation.

I don't know how many times it was brought up how his out of control spending was bringing the gross debt to almost 100 percent of GDP.

Hey but it's okay the 'rich' will bail the US/us out. The rich will pay for internet for eveyone, the rich will pay for HC for everyone, the rich will pay for social programs for everyone, the rich will pay, well everything, so the poor can continue to not have a hand in what happens to them, no worries they will not have to worry or learn HOW to better themselves.
Martek
11-18-2009, 09:17 PM
God, now he has an epiphany. Too bad everyone else had this thought quite sometime ago.

Too bad many of those "everyone else's" dind't have squat to say about deficits when the GOP had the office over ther Reagan/Bush/Bush years.

"They" never have squat to say about huge deficits, year-after-year,unless it is a dem in the house, then "they" have tons to say about it.

I don't favor high deficits, never have; but it is interested how "they" cry when "their" prez isn't the one doing the spending.