U.S. President Barack Obama continues to defend his controversial position in spending record sums of money and hiking up the national deficit, which many see as the wrong path to financial recovery. He restated his claims today in New Hampshire on America's East Coast, regarding these hefty spending initiatives. Somebody please give him a calculator, as this is not going to add up.
U.S. President Barack Obama
A few fellow members of his Democratic Party erroneously insist, America must "spend its way out of the recession" which in actuality is a depression. Such financially reckless, spendthrift thinking is a faulty premise and dangerous assumption. America is currently racking up enough debt to break the nation in two in coming years.
Clyburn: 'We've got to spend our way out of this recession'
By Michael O'Brien - 02/01/10 12:56 PM ET - The U.S. government must spend its way out of the recession, the Democrats' third-ranking House leader stressed Monday.
Rep. James Clyburn (D-S.C.), the House majority whip, said that trying to find greater savings in the budget, which was released by President Barack Obama this morning, wouldn't help alleviate the recession.
"We've got to make some decisions here as to what's in the best interests of our country going forward," Clyburn said during an appearance on Fox News. "And I think the best interest is to invest in education, control these deficits, while at the same time trying to get people back to work."
"We're not going to save our way out of this recession," the majority whip added. "We've got to spend our way out of this recession, and I think most economists know that." ...
"You're not going to bring down the deficits, you're not going to eliminate these problems without growing this economy," he said. "And you're not going to grow the economy by wishing it; you've got to invest in it. And that's what we're doing with this budget."
