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Obama is worried about the debt

I honestly had to check twice to see if this was satire. Interviewed in China, President Obama voiced concerns about the rising debt and consumer confidence.

"There may be some tax provisions that can encourage businesses to hire sooner rather than sitting on the sidelines. So we're taking a look at those," Obama told Fox News' Major Garrett.

"I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession."

Tax provisions? That benefit businesses? Really? That doesn't sound like the Obama I knew.

I love the qualifiers in the second paragraph. First, he makes sure to comment that the economy is currently in a recovery. But if we keep adding people could lose confidence and there could be another recession. So if the growing debt is bad, then how does that mesh with the high economic cost of programs like Obamacare and cap and trade?

There were some more surprising quotes later in the article.

And the president said that despite the federal government's massive stake in General Motors, his administration will not weigh in on the possibility that GM could direct bailout funds toward its European Opel unit.

"We are not going to meddle in GM's decisions," Obama said. "We are a shareholder but we are not an active shareholder. We have specifically said that we are not in the business of running a car company. We're not getting involved in day-to-day management."

He said the Detroit automaker owes the U.S. government money, but that "we want to get out of that business as soon as possible" and encourage repayment.

All this sounds very different from the President Obama of the past year. Actually, it sounds a lot more like candidate Obama. Which is why aspiring Republican candidates should sit up and take notice. I commented in a previous post that a year was a eternity in politics and was taken to task for it in the comments. Consider that right now, a strategy of fiscal conservatism versus big government spending seems like a slam dunk. But if Obama has proved anything it is that he is very good at winning elections. A year from now, a few token programs, a few sound bites, and a modest economic recovery and the political landscape could be quite different.


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Comments (15)

dan - Obama has only won tw... (Below threshold)
Michael:

dan - Obama has only won two elections...both where is was running against weak candiates. Next time he is running defending his dismal record....I think he will need more than a few good soundbites and a modest recovery to prevail against the fact that he ran as one thing and govern dismally as another.

"I think it is important, t... (Below threshold)
DaveD:

"I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy...."

Those people losing confidence being the Chinese I suppose.

"But if Obama has proved an... (Below threshold)
914:

"But if Obama has proved anything it is that he is very good at winning elections. A year from now, a few token programs, a few sound bites, and a modest economic recovery and the political landscape could be quite different"

And dont forget about ACORNS dead vote surplus initiatives.

"I think it is important... (Below threshold)
914:

"I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery,"


"I think it is important, though, to recognize when we keep on adding to the debt, even in the midst of this recovery,

There, fixed it for You Alinsky..

In other news: Fox worried ... (Below threshold)
Jeff Blogworthy:

In other news: Fox worried about chickens.

Here's a way he can actuall... (Below threshold)
bobdog:

Here's a way he can actually make good on a promise - cut the national debt by killing the Health Care bill. Bingo - three trillion dollars created or saved.

Then kill Cap 'n Trade, and kill the rest of the Porkulus bill. While he's at it, he can start asking the banks to start paying back what they owe, since by all accounts they aren't using it.

Then pass an executive order outlawing Congressional earmarks forever, and pledge to refuse to sign any legislation that contains it.

Turn all that around, by executive fiat, and give everyone in America a serious and permanent tax cut.

The country would turn around in six months.

Wait...Obama spoke to someo... (Below threshold)
slagathor:

Wait...Obama spoke to someone from Fox News??

Guess I should be ... (Below threshold)
chain smoker:

Guess I should be concerned about lung cancer.

So now we know from Gore's ... (Below threshold)
eaglewingz08:

So now we know from Gore's own mouth that global warming or 'climate change' is not due to anything mankind has done, but is due solely to the million degrees that the earth's core has started spewing out evidently during the past twenty or so years. Time for Mr. Gore and his acolytes to board their yellow submarines, go drill to the earth's core, and let in some water to cool it down. Or not.

"dog, I think he'll cut the... (Below threshold)
ODA315:

"dog, I think he'll cut the payroll tax by 0.25% and when it has no impact he'll cry "see, tax cuts don't work".

Great. NOW he's worried ab... (Below threshold)
JLawson:

Great. NOW he's worried about the debt he's been passing out IOUs for left and right?

Obama is telling us to not ... (Below threshold)
mike:

Obama is telling us to not get in debt? Isn't this the same guy that enticed millions of Americans into getting a car loans with the Cash4Clunkers program? I can't wait to see the wave of repossessions hit (see http://www.repofinder.com) that sinks us into another recession.

As far as the GM thing goes... (Below threshold)

As far as the GM thing goes, they are getting alot of criticism right now for using American taxpayer bailout money to further their overseas operations. The news media is all over it.

http://www.newsy.com/videos/gm_criticized_for_using_bailout_money_to_boost_overseas_growth

"In other news: Fox worried... (Below threshold)
gary gulrud:

"In other news: Fox worried about chickens."

Priceless.

I think we will see some co... (Below threshold)

I think we will see some collapse, significant regulation, significant cuts to our military, a loophole free progressive tax code, and perhaps a few public options are the way to stabilize our national budget.




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