Obama has put the nose over and sent it
down like a Ju-87.
Posted on 11/15/2009 6:07:38 PM PST by Steelfish
Barack Obama Assures Asia that US Borrowing Will Not Spiral Out of Control President Barack Obama has promised Asia's creditor nations that Washington will not let US borrowing spiral out of control, vowing a major drive to cut the budget deficit and restore global confidence in the US dollar.
By Ambrose Evans-Pritchard 15 Nov 2009
"As the economy recovers, I intend to take serious steps to reduce America's long-term deficit," he told the Asia-Pacific Economic Co-operation (APEC) forum in Singapore. "Debt-driven growth cannot fuel America's long-term prosperity."
The assurance comes amid growing doubts across the world over the wisdom of White House spending plans. The US Congressional Budget Office expects the deficit to remain around $1.8 trillion (£600bn) as far ahead as 2019 under current plans, pushing the US national debt into the danger zone.
China, Japan, and other Asian states with large holdings of US Treasury debt fear that Washington may be embarking on a course that will lead to "stealth default" through dollar debasement and creeping inflation. The public mood in the US has also been shifting as the Republicans score points with calls for a return to fiscal rectitude.
The US deficit reached $1.42 trillion in the fiscal year of 2009 and it is expected to top $1.5 trillion in 2010, roughly 10pc of GDP.
(Excerpt) Read more at telegraph.co.uk ...
Hah!
So I guess he will veto the health care bill
Uhh.... too late.
Misson Accomplished.
I have a very nice bridge in Brooklyn that I have for sale at a very good price. I can offer you a deal.
It’s true, it’s real. I really mean it man.
Hey tell them the one about the “strong dollar policy” too!
In other news Michael Moore promises not to let his weight spiral out of control.
He’s just rebuilding the country in his own image.
“Barack Obama Assures Asia that His Bowing Will Not Spiral Out of Control”
Delurked just for that joke; leaving happy that I wasn’t needed. Well played.
He also has a bridge he wants to sell.
Uh, a little too late to say it won’t happen when you are already doing it, Mr. President. Our deficit alone is now larger than our entire federal budget was, deficit and all, not too many years ago...
How embarrassing for the United States to have to beg for money.
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