US President Barack Obama warned that the US economy could head into a “double-dip recession” unless urgent steps were taken to rein in mounting public debt.
The US president’s remarks – in an interview with Fox News in Beijing on Wednesday, towards the end of his eight-day tour of Asia – marked his strongest language yet on the necessity of putting public finances back on a sound footing.
It is important though to recognise 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 US economy in a double-dip recession,” said Mr Obama.
UPDATE 1-Obama: Too much debt could fuel double-dip recession
Obama warns on US public debt pile
Obama harbours fear of ‘double-dip recession’
Obama warns of debt-inspired double-dip recession
First Roubini, Now Obama Warns of “Double-Dip” Recession
Obama Warns Of ‘Double-Dip Recession’; Says Afghan Decision Is Weeks Away
President Obama cautions against double-dip recession
Excuse me, now Obama is suddenly concerned about our national debt? Is this the same Obama that makes George Bush look like a piker when it comes to deficit spending, the same Obama that quadrupled the annual U.S. budget deficits and has the U.S. national debt on track to double to $20 trillion in less than ten years?
/there’s some serious cognitive dissonance happening here