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Obama got something right, sort of...

From BLOOMBERG.COM

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."


It's weird - it's like he's reading my blog!   Actually, this is just his focus groups and teleprompter talking.  Obama and other Democrats have never cared or addressed the federal deficit - not while they are holding the federal credit card.   For the president to say the above and be oblivious to the damage he is doing is insane.

Obama is acting like he's not the president, like he's not the one causing the deficit to be $1.8 trillion dollars this year and $1.2 trillion next year.

Obama is pushing for health care reform thinking his plan for healthcare, whatever in the world it is going to be (he doesn't even know yet), will bring down healthcare cost and the deficit.  Like government and socialism are models of efficiency.

Whatever happens to healthcare, all I know is Obama and the politicians in Washington DC will end up having much better healthcare than the rest of us.   Democrats will make sure of that.