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Question for my liberal friends: is this sustainable or is the administration lying?

Neither. It's not the case.

If you held Obama's debt, would you continue to lend him money? How long before the government's variable rate credit cards start to reflect the unrealistic spending patterns?

You don't need to ask, the answer is demonstrable. People the world over continue to line up to lend money to the USA. I know, the bond vigilantes are right around the corner, where they've been for decades, and they're going to punish us any day now by taking their money and buying gold with it or something. Any day now.
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