Obama Warns of Double Dip

President Barack Obama said during an interview with FOX News, that he's worried that spending too much money to help revive the economy could undermine a fragile U.S. recovery and throw the economy into a double-dip recession. What I believe he intends is to ignore the many political and economic voices, who say he should focus on the economy and drop the Health Care Reform. He added in the interview, that it's important to recognize that if the nation keeps adding to deficit spending through tax cuts or more stimulus spending, at some point people could lose confidence in the U.S. economy and that could lead to a double-dip recession.

Deficit spending is deficit spending. Does it matter whether it is on Health Care Reform or the economy? President Obama also told FOX News that his administration is weighing tax breaks that could encourage businesses to begin hiring again. How do you tax wealthy people and give tax breaks to businesses at the same time. Who is it that own the businesses?

My take is that if Obama predicts a double dip recession, we will have one. If he want to avoid the dread "W" recession, then quit scaring investors and undermining market confidence.

If you want to read the article you can find it here:http://news.yahoo.com/s/ap/20091118/ap_on_re_as/as_obama_economy