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Wednesday, June 17, 2009

The President is worried about the debt?

Here is the link.

I don't see any proof based on his actions. It is kind of scary when a tax-and-spend guy is worried about the debt.

According to the article the President said:

There's no doubt that we've got a serious problem in terms of our long-term deficits and debt
You mean he actually realizes this!!? The guy has more brains than I thought.

Also from the article:

"I am concerned about the long-term issue of our structural deficit and our long-term debt because if we don't get a handle on that then there's no doubt that at some point whether it's the Chinese, the Koreans, the Japanese, whoever else has been snatching up Treasuries are going to decide that this is too much of a risk," he told Bloomberg.

Sounds like he might have been reading this blog.

Here is another gem:

"You're starting to see the engines of the economy turn," Obama said on Bloomberg.
Yeah, the engines of the economy are starting to turn alright. They are starting to turn Tango Uniform.

My favorite part:

"It's going to take a long time. We had a huge deleveraging that took place, but I'm confident that if we take the steps that are necessary on healthcare, on energy, on education. If we get a strong financial regulatory system in place so people have confidence in the markets again, that we will end up seeing a recovery shortly."
Did his teleprompter wig out again? First he says "It's going to take a long time." Then he says "we will end up seeing a recovery shortly." Make up your mind.

Maybe what he meant to say is that it's going to take a long time if we set up a strong financial regulatory system but we will end up seeing a recovery shortly if we can just get the government out of the financial business. Somehow I don't think that's really what he meant.

When this President is concerned about the debt I think the rest of us should probably go ahead and panic.

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