Posted on 05/18/2009 8:52:43 AM PDT by euram
President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.
(Excerpt) Read more at conservatives4palin.com ...
Well, unfortunately, this “mortgaging the future” (for our children) is something that has not been exclusively Democrat or Republican.
The Bush Administration had a deficit that was bigger than all the previous administrations combined. And guess what, the Obama Administration, takes up the challenge and produces a deficit that is greater than all previous administrations combined... LOL...
It doesn’t appear to be exclusively Democrat or Republican, but systemic to our entire “system” itself...
We need to stop saying this is mortgaging our children’s future when it also screws our present and our own future, as though things are fine for us but will be a burden for them later.
This has the ability to tear this country apart right now. Our children may not even have this country.
Is there any chance that the USA can recover from this?
“President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.”
He says as he takes the check from the Chinese...
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