President Obama: There Is No Debt Crisis: There has been no shortage of dire warnings about the mounting US national debt, but President Obama is now offering a different assessment: no big deal. “We don’t have an immediate crisis in terms of debt,” President Obama said in an exclusive interview with George...[ emphasis added]
Was it a big deal when Bush was president? It was a big deal then, but not now? What happened to change his mind?
For those who say that Obama didn't say "problem" but "crisis", there's Conyers out there saying that it is no problem for his party. For the Democrats, it's no problem. For Obama, it's no crisis. A difference with no distinction, I'd say.
Let's say that all nations in the world are worse off than we are. Then maybe, there's no crisis. But what if not all countries are experiencing debt problems. What then? It means that this country has a problem related to debt. Does China have a debt problem? If China doesn't have a debt problem, and we do, I'd say that's a problem.
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