Owning up to what we owe

WHITEHOUSE.gov ^ | Monday, February 23rd, 2009 at 7:26 pm | n/a

[cc2k]

The Party Propaganda Ministry (formerly called "the media") will never point out the inconsistency here.

Last week, he was telling us we didn't have to own up to what we owe. He was going to get those we borrowed from to forgive part of the debt, and part of it would be passed on to the taxpayers.

A consistent approach would be to ask our creditors (the Chinese maybe) to forgive and forget for the part of our debt that is above the "affordable level."

Maybe we as a nation shouldn't be in debt over 50% of our GDP. Everything above that, the holders of that debt take a haircut on.

If it works that way for mortgages, why not do it that way for the national debt.

And if it can't work that way for the national debt, is it right to ask mortgage lenders to operate that way? Is it right to tell mortgage borrowers that they don't have to own up to their own debts?

[RipSawyer]

As I watch Obama’s first weeks in office I am struck by how directionless and incoherent his actions are. He really has no clue about what is going on in America.
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Are you sure you understand his motives? He may know exactly what he is doing. I suspect that he does.