posted May 16, 2009 12:28 PM         

Of course, most of us already know that adding 11 TRILLION Dollars of new debt to the National Debt is mortgaging the future of our children and grandchildren.

What's startling about this is that President Teleprompter's teleprompter knows it too and is actively campaigning against President Teleprompter's economic policies.

Hey, who knew? Perhaps President Teleprompter's teleprompter should have been elected President.

Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
By Roger Runningen and Hans Nichols

May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”....
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJsSb4qtILhg&refer=worldwide