This from LJ Miehe of Business Economic News:
This is really coming from the same White House Administration that is predicting multi-trillion dollar federal deficits for the next decade. President Obama giving lip service to this fact and actually doing something about it are two separate issues that only one is being address and it is not the “doing” part. Why do I feel like we are being treated like a kid with an attention deficit disorder so that they think even if we hear both statements we can’t put two and two together. It is the same as the supposed “strong dollar policy” that is nothing more that lip service because we don’t hear about major spending cuts or large tax cuts that would support an actual strong dollar policy.
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.
“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.
Analysis: Too much debt is going to cause a double-dip and we are doing nothing to prevent it and we are actually making another recession and possible almost a certainty.
It makes me sick. First, Obama demands, gets and delivers the largest federal deficit in the history of the United States, and then warns: we may have a double-dip recession because of our debt? Unbelievable. New Broom, New Broom, New Broom
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