Bloomberg Online: Obama Says U.S. long-Term Debt Load 'Unsustainable'
President Obama finally acknowledges that we can’t tax, spend, and borrow our way back to prosperity:
“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”
Posted by: Press Secretary