Obama is worried about the debt

I honestly had to check twice to see if this was satire. Interviewed in China, President Obama voiced concerns about the rising debt and consumer confidence.

“There may be some tax provisions that can encourage businesses to hire sooner rather than sitting on the sidelines. So we’re taking a look at those,” Obama told Fox News’ Major Garrett.

“I think it is important, though, to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession.”Tax provisions? That benefit businesses? Really? That doesn’t sound like the Obama I knew.

I love the qualifiers in the second paragraph. First, he makes sure to comment that the economy is currently in a recovery. But if we keep adding people could lose confidence and there could be another recession. So if the growing debt is bad, then how does that mesh with the high economic cost of programs like Obamacare and cap and trade?

There were some more surprising quotes later in the article.

And the president said that despite the federal government’s massive stake in General Motors, his administration will not weigh in on the possibility that GM could direct bailout funds toward its European Opel unit.

“We are not going to meddle in GM’s decisions,” Obama said. “We are a shareholder but we are not an active shareholder. We have specifically said that we are not in the business of running a car company. We’re not getting involved in day-to-day management.”

He said the Detroit automaker owes the U.S. government money, but that “we want to get out of that business as soon as possible” and encourage repayment.All this sounds very different from the President Obama of the past year. Actually, it sounds a lot more like candidate Obama. Which is why aspiring Republican candidates should sit up and take notice. I commented in a previous post that a year was a eternity in politics and was taken to task for it in the comments. Consider that right now, a strategy of fiscal conservatism versus big government spending seems like a slam dunk. But if Obama has proved anything it is that he is very good at winning elections. A year from now, a few token programs, a few sound bites, and a modest economic recovery and the political landscape could be quite different.

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