I'm unsure why people say stuff like this that's so, well, false? Do you guys just love to not know how the economy works in the real world & instead suck the cock of your favorite ideology?
As a real world, micro example: my mainstream business partner has roughly $2.4 million in loans out for various enterprises. He can walk into the bank today and get another $1 million loan pretty easily (assuming he has the biz plan etc in order) - he just recently got 75k by just calling the branch, then going into fill out paperwork & it was deposited next day. Do you know why? Because he pays on time, every time, usually a bit extra.
Even then, that's not how the federal debt / deficit spending even works, but it's close enough.
Either way, yes, we should collect more tax revenue to be able to better service our debts (read: investors) & pay that down quite substantially. The GOP doesn't do this - they lower taxes & spend as much, if not more.
Also, calling Obama a socialist is a very good way to demonstrate to others that your knowledge of political science is sub-par at best. He's center
right on most issues, especially concerning the economy.
And finally, Obama (or any POTUS)
does not control what the budget is; only how to spend it
in some cases.