The federal government spending is out of control. 46 cents of every dollar spend is borrowed money (mostly from China). President Obama has racked up $6 TRILLION in new debt in his first 4 years as President. The President seems disinterested and disconnected from the whole budget, finance, debt, deficit spending issues.As a country we have to be realistic and honest with ourselves that this level of spending is "unsustainable." We hear many that say we will end up like the European countries, with such a heavy debt load that spending has to be drastically cut back.
I would like to see the President exercise some significant leadership on this. He put together Simpson-Bowles, but ignored his own commission's recommendations. Why?
His legacy will be the "the Ten Trillion dollar man"