Obama tells town hall that government has to wean itself off of national ‘credit card’

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Obama: Attacking debt will be ‘our project’

RACINE, Wis. — President Barack Obama says the United States has to wean itself from its habit of using the national “credit card” and leaving future generations to pay the bill.

Obama told a town meeting in Wisconsin on Wednesday that curbing the deficit is going to be “our project” for the next few years.

But the president also said that the biggest problem is not the government’s stimulus spending or even the bailouts of Wall Street and automakers, but the long-term spending on health care and other benefits. Obama said the trick will be reining those in gradually without hurting people who depend on them.