HONOLULU - In his first weekly address of the New Year, President Obama
touts the "fiscal cliff" compromise as "one more step in the broader
effort to grow our economy and shrink our deficits" but warns that
another "manufactured crisis" over the debt ceiling could wreak havoc on
the economy.
"manufactured crisis"? What does that mean?
Continuing his effort to frame the looming fight over the nation's debt limit, Obama makes clear "one thing I will not compromise over is whether or not Congress should pay the tab for a bill they've already racked up."
Of course not. Why should he?
"If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy
could be catastrophic," he continues. "The last time Congress
threatened this course of action, our entire economy suffered for it."
Yes BO. We know. But he wouldn't want the economy to collapse would he?
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