Tuesday, June 29, 2010

Our president at the G20 summit

Still concerned about slipping back into recession, world leaders signaled Sunday they have a new fear - that the deficit spending they used to stimulate growth could produce a crippling debt crisis that also could stagger the world economy.

They pledged Sunday to cut deficits in half within three years, their fear of debt outweighing warnings from President Barack Obama that cutting back too quickly risks starving the economy just as its starting to recover.

Our president is at the G20 economic summit, defending deficit spending.

It's as if he has no understanding of the respective roles and responsibilities of the public and private sectors.

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