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Obama, while visiting China, talks to imposter-news "reporter" Major Garrett of FOX....
Obama warned the United States' climbing national debt could drag the country into a "double-dip recession," though he said he's still considering additional tax incentives for businesses to reverse the rising unemployment rate.
"There may be some tax provisions that can encourage businesses to hire sooner rather than sitting on the sidelines. So we're taking a look at those," Obama told Fox News' Major Garrett.
"I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession."
Digby has it right, when she says that she hopes imposter-news mischaracterized what Obama was getting at....because the national debt has very little, if anything, to do with our current economic situation.
American "news" has been spinning phony yarns for so long now that I wouldn't be the least surprised to see Village Knee Pad streetwalkers successfully convince enough Americans into believing yet another lie.
Our current recession has absoluetly NOTHING to do with the national debt doubling under the last administration. While huge national debt increases under Bush, and now Obama, are, indeed, a concern.....that debt should not be blamed in any way for our current conditions. In fact, the current near-depression conditions were created ENTIRELY by the gambling-house industries of finance, insurance and real estate. Free market greed gone wild.
If Obama actually told imposter-news "reporter" Major Garrett that a "climbing national debt could drag the country into a 'double-dip recession'".....he's being dishonest. Obama knows better. The debt and the current recession have nothing to do with one another.....and even implying otherwise in front of imposter-news representatives is a huge political mistake.
What the country needs right now, not late next year but now, is MORE government spending to directly create jobs. Another trillion dollars is needed right now, with every dollar going to job creation instead of like the watered-down-to-mollify-dumbass-conservatives-stimulus-bill provisions passed back in February. The way to pay for that trillion is blindingly clear as well.....tax Wall Street transactions.
Wall Street is where the recession began. The recession didn't begin because the dollar crashed or China quit buying our debt. The recession began because unscrupulous money scheme connivers lost their reckless and unregulated bets to such an extent......that they all ran out of money and came to tax payers for bailouts.
As a result of banksters running out of money because they lost their reckless and unregulated bets.....money, almost overnight, became unavailable for lending to Americans in order to buy stuff...like cars, houses, etc. Massive layoffs followed. The downward cycle began. To add insult to injury...now the recession-causers are punishing consumers through reduced credit and higher interest rates and fees.
If President Obama is so foolish or "centrist" to believe that he can co-opt the TeaBagger insanity over government spending, even giving one inch by agreeing that government spending is the problem right now....then he is only setting himself up for political defeat and setting Americans up for a TeaBagger-led government in the future. I shutter at the thought.
Palin, FOX, and the TeaBaggers don't have a point when it comes to government spending......and they don't even care that they don't. The year-long wingnut nonsense about government spending, socialism, 'I want my country back', yada, yada.....is not to be taken seriously. The sole purpose of the Baggers and Co. is to return bankster-favoring Republicans back into majority government power.... the very people who helped banksters bring our country to it's knees in the first place.
Obama shouldn't attempt to triangulate with incoherent economic idiots or imposter-news "reporters".....ever.