President forgets debt, deficit, remembers to blame Bush

While our embassies around the world were under siege and in flames, President Obama was fortunate to find the time to talk to David Letterman. Eventually, the conversation centered around the national debt, which topped $16 trillion during the Democratic National Convention.

Letterman: “Here’s what I found troubling, and I want you to help me through this. They had the clock — the debt countdown clock. And I mean this thing is going like crazy. And it’s several trillion dollars? Now what is that?”

After making it clear that everything was fine until George W. Bush pulled us into two wars and reduced the income tax rates, he said, “ When I walked into office we had a trillion dollar deficit.”

When it got to the current national debt number, Letterman asked, “Do you remember what that number was? Was it 10 trillion?”

The president responded, “I don’t remember what it was precisely.” He then went on to say, “We don’t have to worry about it short term. Right now, interest rates are low because people still consider the United States the safest and greatest nation on earth.”

Interest rates are low because the Fed set them low. Meanwhile, our credit rating has been downgraded by two separate rating agencies under the president’s stewardship.

The president’s Letterman appearance received a fair amount of traffic on Twitter.,  Michelle Malkin’s website that monitors the social media, reported all the posts. Here are a few representative tweets:

Obama to Letterman, on debt: “We don’t have to worry about it short-term.” Reality: US adds $4B in new debt per day.

Obama to Letterman, on debt: “We don’t have to worry about it short-term.” Reality: US adds $4B in new debt per day.

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