In his remarks Tuesday, Obama issued a stern forewarning on the upcoming debates, and reiterated that he will not negotiate with Republicans over the debt ceiling.
“As I’ve demonstrated throughout the past several weeks, I am very open to compromise,” he said. “But we cannot simply cut our way to prosperity.”
“While I will negotiate over many things, I will not have another debate with this Congress over whether or not they should pay the bills they have already racked up,” Obama said. “We can not not pay bills that we have already incurred.”
Actually, anyone who’s ever had both a credit card and a savings account knows you can spend your way to ruin, but you can also save your way to wealth.
I’m constantly surprised by how Obama thinks any government spending, no matter how wasteful, is an automatic unalloyed good.