Unbelievable Spin: Obama claims at "some point, the government will run out of money"

Obama has run trillion dollar deficits every year he has been in office. We ran out of money a long time ago and are living on credit. 

Via Washington Times:

[M]r. Obama, speaking at the State University of New York-Buffalo, said he’ll cap student loan repayments at 10 percent of their future paychecks, but will also take steps to punish students who are attending school on federal grants by doling out the money in chunks to make sure they stay in school.
Mr. Obama said the government and colleges have been in a type of arms race in recent years, with the government boosting its contributions and schools raising their prices.
“So some point, the government will run out of money, which means more and more costs are being loaded on to students and their families,” the president said.
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