Unreal… Obama Warns That Spending Cuts Will Hurt Economy

Obama warned today that spending cuts could hurt the economy.
This was after he increased the national debt by $4 trillion or 28% in two years.

Barack Obama tripled the national deficit his first year in office.
Last year it was at $1.29 Trillion dollars.
This year it will be even higher.

(The Captain’s Comments)

Reuters reported:

President Barack Obama warned on Tuesday that immediate, deep budget cuts could hurt the fragile economic recovery, but Republicans pressed to slash spending and brushed off concerns about potential job losses.

Republicans lambasted Obama’s budget for 2012 released this week and demanded cuts now in areas such as education and space exploration. Obama — who promises $1.1 trillion in deficit reduction over 10 years — still wants to invest in areas such as high speed rail and energy efficiency to boost U.S. competitiveness.

The debate is moving toward a standoff. Republicans aim to pass legislation in the House of Representatives by week’s end to cut this year’s spending by at least 14 percent, or $61 billion. The White House says Obama would veto such a bill.

“I think it is important to make sure that we don’t try to make a series of symbolic cuts this year that could endanger the recovery,” he told a news conference.

“We’ve got to be careful … Let’s use a scalpel; let’s not use a machete,” he said.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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Thanks for sharing!