From Bloomberg Reports – President Obama called current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.
“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.”
Really. Maybe that is why Americans have taken to the streets with homemade signs in their frustration to protest your stimulus spending. And the Porkulus bill. And the budget with all the earmarks.
REPEATABLE: Obama spends like there is no tomorrow, then reflects in speeches as if he cares about the future. If he was fiscally responsible, he would stop spending money on paving roads, buying light blubs and ordering new cars for federal agencies until he actually had the money to spend.