Friday, May 15, 2009

Democrisy in Action, Part 4: Obama Lectures Americans on Debt

President Obama lectured graduating college students about deficit spending living on credit.

"We've become accustomed to our economic dominance in the world, forgetting that it wasn't reckless deals and get-rich-quick schemes that got us there; but hard work and smart ideas -quality products and wise investments. So we started taking shortcuts. We started living on credit, instead of building up savings.

Emphasis mine.

Lest the President forget about living on credit:



It's hard to lecture about cutting corners and living on credit when you are mortgaging our grandchildren's future.