Friday, May 15, 2009

Guns and Butter Update: Obama Lectures Public About National Debt

What??? Does Barack Obama think the Chinese are buying our credit card debt and will soon grow tired of that? That would be Treasury Debt, Mr. Obama. That is how your crazy, amazing spending program is being paid for, by borrowing 50ยข on the dollar, some of which is being fronted by the Chinese. Oh, and do ask Alexi about how the vig works next time he comes over to shoot some hoops. That makes for more debt!!!

How can any sane person explain why--after pushing and prodding and presiding over the passage of legislation creating the largest debt increase of debt load in the history of the United States and in the world--the America people are suddenly being lectured and warned by their president about our heavy national debt load? Anybody got the key to the asylum around here? This is totally nuts and I want out!

Note: US Government borrowing has quadrupled while tax revenues have been falling. Only the government still thinks no income verification loans are really spiffy. Apparently the President is thinking of a big tax increase. Could someone please tell them that even if the rates are doubled some people still will be sending smaller checks this year than last?


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