Any chance this means Obama will stop trying to spend more or cut back on some of the proposed spending? I would not hold your breath.
http://drudgereport.com/flashocs.htm (transcript can be found there)
"SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?
OBAMA: Well, we are out of money now. We are operating in deep deficits, not caused by any decisions we've made on health care so far. This is a consequence of the crisis that we've seen and in fact our failure to make some good decisions on health care over the last several decades."
The quote happens 30 seconds into the clip.
Video embedded below. (from http://www.breitbart.tv/?p=344843)