Bob McCarty Writes

After being complicit in creating an $11 trillion-dollar deficit during his first four months in office, President Barack Obama admitted in a pre-Memorial Day weekend interview with CSPAN’s Steve Scully, “We’re out of money now.”

Now, it will be interesting to watch for answers to two pressing questions:

• Will President Obama and his Democrat colleagues stop spending us into oblivion? and

• How will the world financial markets react to President Obama’s admission?

To watch other portions of the interview, see the videos below:

To read the transcript of the entire CPAN interview, click here.