Obama: Spending could create double-dip recession

Forget about trying to get a read on the economy these days. Some indications say it's recovering, while others say it's spinning clockwise in the drain.

But Barack Obama, of all people, is warning about the possibility of a double-dip recession -- the kind that recovers for a few minutes only to plunge back down again. A double dip, just like you'd see on a graph.

According to the Associated Press, he's "worried that spending too much money to help revive the economy could undermine a fragile U.S. recovery and throw the economy into a double-dip recession."

OK. His administration has squandered $787 billion on a stimulus package that isn't working, except maybe in congressional districts that don't exist. They're playing with a health care package with a cost in the trillion-dollar range (which makes the price tag on the Senate version of the bill look like a blue-eyed bargain at $849 billion). There's scuttlebutt that a second stimulus package may be in the offing.

And he's worried about spending?

Fasten your seat belt. It's gonna be a bumpy ride.

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