Elijah Friedeman, the Millennial Perspective
If only his actions backed up his words on this issue.
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.
If a casual observer read this, he would certainly think Obama was tough on spending. And judging by this article, that seems to be the case. But Obama has run the highest deficit ever this year. In 2009 alone, according to the CBO, the deficit is $1.85 trillion.
To be fair, this has been happening for years and years under Republican presidents. Under Obama, though, the problem has been compounded.
The outstanding public debt is $12,031,299,186,290.07. And yes, that's in American dollars, not Zimbabwean dollars. I can't wrap my mind around a national debt that large, and the implications of it. If we don't get a handle on our debt, and we won't, we could be staring down, as Judd Gregg put it, the possibility of America becoming a third world country. I don't now about you, but I'm not relishing that possibility.