This morning when asked if he was prepared to deal with America’s debt by cutting spending, President Obama showed just how out of touch with reality he actually is. “We’ve already made deep spending cuts. I proposed a freeze on federal spending,” said the President.
A spending freeze locked in at elevated levels of spending will do nothing to stop the government from borrowing forty cents of every dollar that it spends. With this year’s deficit set to once again top a trillion dollars, it’s time for the President to send a real signal that he is serious about getting the nation’s fiscal house in order and put forward a plan to deal with America’s debt and prevent Medicare from going bankrupt.
- President Obama: Well keep in mind, we’ve already made deep spending cuts. I proposed a freeze on federal spending during the last threatened government shutdown, we made some really tough cuts on some programs that I actually think make a big difference. But given the size of the deficit I think it was important to send a signal that we were serious about getting spending under control. (Today Show, 6/14/11)