Obama says spending cuts could trigger second recession

Reuters ^

[Sub-Driver]

Obama says spending cuts could trigger second recession 5:53pm EDT

PALO ALTO, California (Reuters) - President Barack Obama said on Wednesday he believes the U.S. economy could lapse back into recession if government spending is cut too deeply.

Obama made the comment at a Facebook town hall, which he used to promote his proposals for reducing U.S. deficits. He said Republicans are too narrowly focused on spending cuts.

Obama also said the lack of a serious plan to tackle U.S. deficits could become a big drag on the economy if investors pull back.

"If all we are doing is spending cuts, and we are not discriminating about it, if we are using a machete instead of a scalpel............

[Sub-Driver]

FAIL..................

[Grampa Dave]

b>What, we are seeing now, is history* re the tax and spenders doing what they did in 1934. Check the banner on the wagon saying, "Young Pinkies from Columbia and Harvard". Now, we can add Yale and basically any other left wing university.

[Jim Robinson]

Obama is an idiot.

Cut the damn government already! Cut the spending! Drunken idiots!!

[fatnotlazy]

What “second” recession? We’re still in the “first” one.

[neodad]

EPIC..........

[NRG1973]

When did we get out of the first recession?

[Fiji Hill]

Second recession? We're not out of the first.

[Maceman]

Obama believes that if he taxed “the rich” enough, he could fix the economy by paying half of the unemployed to dig holes, and the other half to fill them back up.

That way, everyone would have a job, and the government could collect more taxes to grow its spending. Obama is on record as saying that all government spending is stimulative to the economy.

It’s basic Keynesianism.

[Jim Robinson]

Machete, hell! We need to nuke the damn spending already!!

[yup2394871293]

Democrats and Lefty pundits are trying to popularize the 1937 crash narrative in order to scare people away from spending cuts now.

[DCmarcher-976453]

What would he say if Bush was president? bo is slime.

[ajwharton]

this is battlespace preparation. He knows that the economy is going to get worse, so he is starting the meme that it was not his fault.

[pnh102]

Looks like John needs to sue Reuters for ripping him off.

[Luke21]

It’s a depression as it is.

[Darksheare]

Since when does reducing spending cause a recession?
That’s like Pelosi stating that you have to increase spending to pay for a tax cut.

[goodnesswins]

c’mon, GOP....do what RUSH suggested....take Obomba’s own words and use them......”We shouldn’t spend more than we take in”......give him a BUDGET THAT DOES JUST THAT!!!!!!!!!!!!! This is NOT rocket science!

[madison10]

What “second” recession? We never got out of the first one. We’re probably really in a depression anyway.

[Lurker]

If my 70 year old mother came to me and said "Son, I'm $150,000 in debt. The only way for me to get out of debt is to borrow another $750,000 right away." I'd have no choice but to hire an attorney and have her declared incompetent to manage her affairs.

Yet here we have a US President saying almost exactly the same thing and well over 40% of the population takes him seriously. That's a very, very bad sign Jim, a very bad sign indeed.

L

[nhwingut]

[NWFLConservative]

To say that this guy is a village idiot, is a slap in the face to village idiots worldwide.

The totally illogical path of his and his trusted "advisors" reasoning is mind boggling. The economy is tanking and you tell us you want to work hard to cut the deficit. But how do you want to do it??? By INCREASING SPENDING??? YGTBSM Bungling Barry. You must have gotten ahold of some really bad dope at Haaahvid boy, because your brain has been slowly turning to TAPIOCA ever since.