Even President Obama has come around to acknowledge that “all of us should be worried about the fact that we have been running the credit card in the name of future generations. We’ve got to get our debt and our deficits under control.”
In office less than two years, Obama has already become the biggest-spending chief executive of all time. His newfound concern about debt and deficits is reminiscent of the old story about the guy who killed his parents, then begged the judge for mercy as an orphan. Even so, we welcome Obama’s lately discovered fear about the long-term consequences to this nation of a nearly $14 trillion national debt and $1.4 trillion federal budget deficit for 2010.
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