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July 30, 2009
Obama, Democrats, taking America to second-class status of a debtor nation as market dries up for U.S. debt
Topics: Political News and commentariesAs put by Right Wing News, it apparently never occurred to the profligate fools in Congress who go along with Obama's deliberately disastrous Cloward-Piven economic policy, but there are limits to how much the government can borrow.
This stems from the news that the U.S. Treasury sold $39 billion in five-year debt Wednesday in an auction that drew poor demand, and plans to issue $2 trillion more in new bonds this year to finance Obama's and the Democrats' economic and financial spending sprees.
The government spending flies in the face of Fed Chairman Bernanke's warning that Obama and Congress need to get spending under control or the interest payments will start to destroy us, yet undeterred, Obama and the Democrat-controlled Congress continue to take us full-speed ahead toward "the second-class status of a debtor nation that can't pay its bills."
Posted by Richard at July 30, 2009 3:25 PM
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