Results 1 to 2 of 2
  1. #1 Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ 
    Senior Member Rebel Yell's Avatar
    Join Date
    May 2008
    Location
    South GA
    Posts
    5,181
    Obama Says U.S. Long-Term Debt Load ‘Unsustainable’

    May 14 (Bloomberg) -- 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.

    “We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

    Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”
    http://www.bloomberg.com/apps/news?p...efer=worldwide
    Really? You don't say. Where have I heard that before? Oh, yeah. It was from everybody with any common sense in the country, which doea not include our glorious Republicans who passed the first stimulus bill.



    Welcome back, Carter.
    I feel that once a black fella has referred to white foks as "honky paleface devil white-trash cracker redneck Caspers," he's abdicated the right to get upset about the "N" word. But that's just me. -- Jim Goad
    Reply With Quote  
     

  2. #2  
    HR Corporate Scum patriot45's Avatar
    Join Date
    May 2008
    Location
    Plant City, Florida
    Posts
    10,813
    Quote Originally Posted by Rebel Yell View Post
    Really? You don't say. Where have I heard that before? Oh, yeah. It was from everybody with any common sense in the country, which doea not include our glorious Republicans who passed the first stimulus bill.



    Welcome back, Carter.
    Ha, what is the 0s cure!? Well lets spend more!

    Old Nealz Nuzes take on it-


    PrezBO says that the current rate of deficit spending by the federal government is "unsustainable." He says interest rates are going to go up for US consumers. Why? Because the government is competing with the consumers to borrow money. High demand, lower supply = higher cost. For those of you educated in government schools, this means higher interest rates. Obama's projected deficit for this year alone is over $1.8 trillion dollars.

    : “Grow your own dope. Plant a liberal.”
    ” Obummercare, 20 percent of the time it works everytime.
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •