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.
This is from the guy who voted for the bank bailouts and Bush's bad spending as a senator. He was even worse as the punk-in-chief, as he bankrupted GM and Chrysler after bailing them out, pushed through nearly a trillion in the stimulus failure, and he just got his trillion dollar plus healthcare takeover through the house. That's all in addition to the regular record deficit budget.
Son, when you correct those problems, then you can say something about the debt. Until then, you can sit down and shut your mouth.