For more wisdom from the Fairy Prince, check out his attempt to explain raising the debt ceiling:
“This is important,” Mr. Obama said. “Raising the debt ceiling is not the same as approving more spending, any more than making your monthly payments adds to the total cost of your truck.”
Plowing ahead, Mr. Obama said, “I — you don’t say, well, I’m not going — I’m not going to pay my — my — my bill, my note for my truck because I’m going to save money. No, you’re not saving money. You already bought the truck, right? You have to pay the bills. You — you are not — you’re not saving money.”
Then the president seemed to give an argument supporting Republicans’ call for lower spending and less borrowing.
“You — you might have decided at the front end not to buy the truck,” Mr. Obama said. “But once you bought the truck, you can’t say you’re saving money just by not paying the bills. Does that make sense?”
The audience of unionized auto workers cheered and applauded.
“So raising the debt ceiling — it doesn’t cost a dime,” Mr. Obama continued. “It does not add a penny to our deficits.”
A few moments later, as if realizing that his explanation of the debt ceiling was getting lost in translation, the president tried his truck analogy again.
“So — so I — I just want to break this down one more time,” he said. “I go into a Ford dealership, drive off with a new F-150. Unless I paid cash, I’ve still got to pay for it each month. I can’t just say, you know, I’m not going to make my car payment this month. That’s what Congress is threatening to do, just saying, ‘I’m not going to pay the bills.’”
Smartest President ever - if he were President of Elbonia.