Obama: Too much debt could fuel double-dip recession

reuters ^ | Wed Nov 18, 2009 7:20am EST | Caren Bohan

[Former Military Chick]

BEIJING (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.

[Former Military Chick]

"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.

I am just amazed at what this man declares when he is off of American soil.

Hello stop HEALTH CARE NOW!!

There are ways to reform that wont add to the debt.

[neodad]

His mindset is that Obamacare will help reduce the deficit....

[ElectricStrawberry]

That must mean we need to spend another $$bajillion.....to stop the coming double-dip recession...

[Cringing Negativism Network]

Or his dumb-a$$ socialist policies might do that.

“Government is not the solution to the problem.

Government is the problem.”

[paulycy]

Kill the bill.
Refund the Stimulus.
Reduce Taxes.

Duh.

[PreciousLiberty]

He’s amazingly flexible about saying whatever he thinks people want to hear at a given time.

His strategy going forward will be to cut 25% of the deficit he created, then saying “See, I cut the deficit!”.

Nothing describes him better than “0”.

[kittymyrib]

That’s the line BO tried selling to the men wearing green eye-shades at China’s central bank. They hold all the cards in this high-stakes game of global economic poker. They probably laughed themselves silly when this greenhorn left the room and marveled that the USA elected such a pathetic president.

[ml/nj]

For a "double-dip" recession, don't you have to come out of the first one first?

ML/NJ

[Former Military Chick]

Yep that is what he told the leader of China who was equally concerned about our debt.

[rockinqsranch]

Obama=Clueless

[PreciousLiberty]

“His mindset is that Obamacare will help reduce the deficit....”

...despite several government studies that show exactly the opposite. He’s “brilliant”...not.

[Former Military Chick]

I agree with you, I am shocked that more people do not recognize that it is gov. that is the problem.

[Doogle]

[mmichaels1970]

President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits

WTF is this? Sometimes I wonder if I'm in some parallel universe or something.

Sure...he's been tellin us all along to control our spending.

[Obadiah]

President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits...

Obama's the guy who spend all the money! And he wants to blow through a few trillion more!

[Prospero]

Just stunning. Like watching the town drunk, the new town drunk, preaching Temperance at Octoberfest.

[b4its2late]

It’s so sad. Everyone there knows he’s a laughing stock.

[DB]

It is just double talk to build support for more taxes, not less spending.

[SonOfDarkSkies]

His strategy going forward will be to cut 25% of the deficit he created, then saying “See, I cut the deficit!”

Yeah...but that won't fly with our Chinese bankers. They don't care about Obama's congenital lies and verbal sleight of hand.

They will look at the bottom line!

[MortMan]

He’s signalling that he’s planning BIG TAX RAISES.