President Obama: “The One?” Or “The Prodigal Son?”

That popcorn-like sound you hear are the eyes of conservatives around the nation bugging out so far they pop out of their sockets. Thousands, possibly millions of Republicans and conservatives are blindly stumbling around now with their eyes dangling by their optical nerves.

President Obama calls deficit spending “unsustainable:”

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.”

I mean, for crying out loud. Chutzpah.

You’ve probably seen this chart already:

Yeah, remember how Democrats used to bleat about President Bush inheriting a surplus and turning it into a deficit? Yeah. Wonder what they’d have said if someone had predicted this. That the next Democrat president would make Bush’s deficits look like surpluses.

This is kinda like President Obama’s pledge to “cut the deficit in half by the end of his first term.” That right there is some low-hanging fruit.

Stacy McCain surmises that this is a prelude to – an excuse for – more tax increases. He’s probably right. But just to keep our options open, let’s explore:

We knew coming in that President Obama is the least-experienced President in U.S. history.

So in he comes, wanting to “solve problems” without any real understanding of those problems, their histories, the dynamics involved. That’s a real good way to make the problem worse, and lo, he has. He then realizes: oh, crap. And wants to reverse himself to some extent and relieve the problem he’s now created/made worse.

If this is, indeed, the case, we should applaud him. Welcome him to the fold. The Prodigal Son returning!

Er…not returning, I guess, so much as showing up for the first time. Ever. But you get the point.

If President Obama is indeed realizing that spending more money than any nation has ever spent on anything – especially when that nation doesn’t have that much money – is a really bad idea, we should support this epiphany.

President Obama, feel free to give me a call. No recriminations. No criticism. Just heartfelt support for your newfound fiscal senses. Plus, I could use a new bike.

Via Memeorandum