Actually, what he’s saying is logical but also nonsensical at the same time.
Each and every day all of us can continue to spend money that we don’t have and at the same time seek an increase in our line of credit to cover it.
It just hasn’t dawned on Obama to consider stopping the spending possibly given that someone is willing to loan us more money at the same time. Yes, logical but in the long term fiscal insanity.
...given that someone is willing to loan us more money at the same time....
And the Fed is making the loans. It’s like using a credit card to buy your wife’s debt, then claiming the debt as an asset. Insanity.