Obama, unfortunately, cracks me up…
"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.”
The State is Ridiculous! What’s so aweful is the Federal Reserve will be having to fork over even more bailouts to those banks that the stress test indicated. Meanwhile Bernanke is talking about how the bank stress tests didn’t reveal everything and there are internal problems with those banks that still need to be addressed. So they will go into even more debt as Obama comes out and says this! [^o)]
Yeah, the State is awful, ridiculously awful.