When I read history, I [see] what typically happens to presidents and the other party during tumultuous times and how people react when the economy is collapsing and they're losing their homes, losing their pensions - it sort of tracks, what ended up happening, because some of that is human nature.
Barack ObamaWhat we also have to recognize is that the deficit levels that I'm inheriting, over a trillion dollars, coming out of last year, that that is unsustainable. At a certain point, other countries stop buying our debt, at a certain point, we'd end up having to raise interest rates, and it would end up creating more economic chaos and potentially inflation.
Barack ObamaIf you look at what happened, I came in the middle of the worst financial crisis since the Great Depression. And unlike Franklin Delano Roosevelt who waited, well, didn't take office until about three years into the Great Depression, it was happening just as I was elected.
Barack Obama