President Obama is clueless.
"Too much debt could fuel double-dip recession"
Ya think? Of course, remember his audience....his bankers in China.
BEIJING, Nov 18 (Reuters)
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.
“It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession,” he said.
Long term deficit reduction? Recovery? People COULD lose confidence? Is he smoking crack?
He has trillions in debt coming on line and has spent more in the last two months than Bush did in a year. Recovery? Hello, McFly! Double digit unemployment, bank bail outs, and businesses closing. People DON'T HAVE CONFIDENCE IN YOU OR THE ECONOMY!
This is just more smoke to hide what is really going on. He thinks that the American public is either stupid (some evidence there-look who they voted for) or blind (What? Don't bother me! Dancing with the Stars is on!). Apparently, he thinks that China is going to believe his lies too.
Obama lied. Jobs died.