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Obama on the debt: Do as I say, not as I do

Trying to soothe Chinese nerves on the calamitous state of his monetary policy, Obama comes up with this:
Obama: Too much debt could fuel double-dip recession

BEIJING, Nov 18 (Reuters) – President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.

I guess Obama must think that the Chinese can not read the news:
National Debt Now Tops $12 Trillion, an all-time record high:

It gets worse. The same document projects that by the end of the decade, the National Debt will hit $24.5 trillion — exceeding the Gross Domestic Product projected for 2019 of $22.8 trillion.

By Obama’s own estimation, then, we’re in for a “double-dip recession,” the Obamaism for all-out depression.

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This entry was posted on Wednesday, November 18th, 2009 at 2:22 pm and is filed under Barack Obama, business, China, economics, economy. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

3 Responses to “Obama on the debt: Do as I say, not as I do”

  1. Tweets that mention Fausta’s Blog » Blog Archive » Obama on the debt: Do as I say, not as I do -- Topsy.com Says:
    November 18th, 2009 at 2:57 pm

    [...] This post was mentioned on Twitter by Fausta, Fausta. Fausta said: Obama on the debt: Do as I say, not as I do http://ff.im/-bESuy [...]

  2. Gringo Says:
    November 18th, 2009 at 11:31 pm

    Like the alcoholic at the bar talking about Demon Rum while into his second bottle.

  3. “Obama: Too much debt could fuel double-dip recession” and related posts « Twitter Says:
    November 19th, 2009 at 7:36 am

    [...] Obama on the debt: Do as I say, not as I do - Fausta's Blog [...]