Obama Tells Asia He's Fighting Deficit
"As the economy recovers, I intend to take serious steps to reduce America's long-term deficit," he told the Asia-Pacific Economic Co-operation (APEC) forum in Singapore. "Debt-driven growth cannot fuel America's long-term prosperity."
The assurance comes amid growing doubts across the world over the wisdom of White House spending plans. The US Congressional Budget Office expects the deficit to remain around $1.8 trillion (£600bn) as far ahead as 2019 under current plans, pushing the US national debt into the danger zone.
China, Japan, and other Asian states with large holdings of US Treasury debt fear that Washington may be embarking on a course that will lead to "stealth default" through dollar debasement and creeping inflation. The public mood in the US has also been shifting as the Republicans score points with calls for a return to fiscal rectitude.
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conservabit
Obama and Congress DEFICIT spent $176 Billion in October alone! Yeah, right, he's cutting the deficit. LIES, DECEIT, MANIPULATION, INTIMIDATION, THREATS...THE OBAMA WAY!!!
USA Made
Obama's plea: "I'm doing everything to fight what I inherited, I'm spending more then the last 24 presidents combined, now what position did you want me in since I bowed to the last guy!!!"
imsteph555
HAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAAHAHAHAHAHAHAHAHAHAHAHAHA!!!
You LIE!
Carolina Blues Billy-Bob
Since they're carrying a huge chuck of the US debt that BO has tallied in his first year - he better reassure them that he's fiscally responsible - until he can get back to his check writing desk and spread some more wealth.... he lies to everybody!
Midwest Patriot
He certainly is trying and I have a bridge to sell you. The man of many masks.
Equality 7-2521
and pigs are gonna fly out of my arse.
http://bni-rwp.blogspot.com/
http://bni-rwp.blogspot.com/
Bill589
You might think he’d be doing a better job with all that experience being a community organizer.
Tony T
This President is an embarrassment. How can he stand there and flat out lie, even the Asian know he is lying. Porkulus, the Omnibus liberal Christmas gift bill, the joke known as health car reform and the cap and tax windmill fantasy. If all of this wasn't so real and so tragic for our country it would be funny.
ledbythnose
I'm glad to see that hes not just lying to the American People. I think the folks over in Asia are seeing that our Emperor has no clothes now. Apparently he thinks they are too stupid to watch the news. This guy makes Forest Gump look like a Scholar.