John Podhoretz on the President’s Monday press conference:
The president has asserted that the exemplary moral behavior for the United States (with its $16 trillion debt and $1 trillion-plus in annual interest payments on that debt) is . . . to borrow more money.
He won’t let the country be “held hostage,” nor will he pay Republicans a “ransom.” They are putting “a gun to the head” of the American people.
What Obama is saying is simple: The United States has become Too Big To Fail.
Obama needs to ask himself one simple question: Who bails out the bailouters?