You Don't Say

Barack Obama yesterday:

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.”

And the sun is hot and made of fire too. No offense Barry, but the reason we're having to borrow so much from China is the fact you're giving trillions of freakin' dollars to insovlent banks.

I appreciate the candor, because he's right. Amazingly enough as President, you have the ability to do something about it.

Try it.