From Roger Runningen and Hans Nichol (Bloomberg Press, Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ (Update2), May 14, 2009):
May 14 (Bloomberg) -- 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.
Obama was supposed to be able to hit the bricks running. Either this is news to him (and he's a nincompoop) or he thinks this is news to the rest of us (and he thinks we're all nincompoops).
Solution: Stop spending and then we won't need to borrow any more money. Something about "getting the horse out of the barn before the fire" or "carrots and carts" comes to mind. If I could work "feathers" and "tar" into it, I would, but that would make me a terrorist (according to the Department of Homeland Security).
H/t Drudge.
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