We can’t keep on just borrowing from China

Obama said WHAT?! In New Mexico today he called the current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries. He even had the nerve to say this (from Bloomberg):

“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.”

He also did his usual whining in New Mexico as well:

“When Congress included in last year’s budget a whole bunch of earmarks, you remember there was a week worth of stories about how terrible these earmarks were,” the president recounted. “You remember this…a week’s worth of stories: ‘Oh, these earmarks, this is what’s blowing up the deficit, this is terrible,’ blah, blah, blah.”

Continued the president: “And yet, as I said before, that was less than 1 percent of that entire budget that had been signed. When we find $17 billion worth of cuts in programs, what do the same folks say? They say, ‘Oh, that’s nothing.’…That’s not significant. That’s not important.’

“Well, you can’t have it both ways,” the president said. “If those earmarks were important, then this money is important, too.”


No TweetBacks yet. (Be the first to Tweet this post)

Related posts:

  1. Look out! Spendzilla is on the loose! The REAL Facts about Obama’s budget-busting budget This handy breakdown of the Obama budget just landed in...
  2. Sarah Palin still on the whiny liberal media’s mind. Palin attacked for requesting earmarks Well Sarah Palin didn’t request earmarks for pig odor research...
  3. So much for BO’s budget, CBO say annual deficits will be much worse than Obama thinks And much worse than the liberal media wants you to...
  4. U.S. Budget Deficit Hit Record $1.4 Trillion in 2009 triple that of 2008’s record Remember last year when people were complaining about the out...
  5. SNL parody of Obama in China with Chinese President Hu Jintao As much as it pains me to say this, I...

Related posts brought to you by Yet Another Related Posts Plugin.

May 14, 2009 · Filed Under Barack HUSSEIN Obama

Share/Bookmark

Comments

Lets hear your point of view! - A warning to the liberal whiners who seem intent to flood our comment section with profanity. Save your keystrokes. The anti spamming script will just automatically delete your comment. Feel free to disagree with the host on any article posted here, but flame baits, racism, and profanity laced tirades will NOT be tolerated, and will eventually get your IP address banned!




www.e-referrer.com