Obama: A double-dip recession?

President Obama warned that the U.S. economy could slip into a double dip recession unless urgent steps are taken to reduce the rising public debt. Obama said it will be tricky to boost the economy to create jobs -- the unemployment rate hit a 26-year high of 10.2 percent last month -- while cutting the deficit and debt. But hasn't stimulus spending been one of the things that caused the country's debt to grow so fast? (Watch Obama warn of a double-dip recession)

Yes, Obama's warning about a disaster he caused: How "infuriating," says Jim Hoft in Gateway Pundit. President Obama spent nearly a trillion dollars from his stimulus bill to create jobs that never materialize -- nearly tripling the national debt in less than a year in office -- and he's the one saying we're piling up too much debt? "Unreal."

"Unreal. Biggest spender in history says too much debt could fuel second recession (video)"

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No, we need more stimulus spending, not less: Let's hope President Obama's economic advisers "set him straight," says Mark Thoma in Wall Street Pit. We needed a bigger stimulus to begin with, and the economy still needs help. Trying to balance the budget before a full recovery is what will cause a double dip recession.

"Obama's wrong-headed thinking on the deficit"

It's scary that Obama is even talking about a double dip recession: "The President is supposed to talk about how much the economy is improving," says Douglas A. McIntyre in 24/7 Wall St., "not how bad it could be." Especially since President Obama's options are limited -- any deficit fix involves cutting spending or raising taxes, either of which could break the back of a tenuous recovery. Obama's worry is "a sign that the chances of second recession are rising rapidly."

"Obama warns about 'Double Dip' recession"

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