Obama Admits His Deficit Spending May Backfire

In an interview with FoxNews' Major Garrett, President Obama announced that deficit spending "could actually lead to a double-dip recession."

"It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession," he said.

And yet, keep spending he does.

One analysis from the Heritage Foundation projects:

President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016... Overall, President Obama’s budget would add twice as much debt as President Bush over the same number of years.

Here's a thought, Obama. Stop spending money you don't have. Stop spending money you don't have on programs we don't want, like "stimulus" that doesn't stimulate, health care "reform" that doesn't reform, and Cap and Trade that trades reasonable energy costs for "skyrocketing" energy costs to consumers to solve a problem that doesn't exist.

Stop spending this country into oblivion. Please.