Obama Fiddles While Wall Street Burns
by Jed Babbin
03/09/2009
In part....
Barack Obama has been president for only seven weeks. The sub-prime mortgage crisis had been building for years before his inauguration. George Bush began the nationalization of our banking sector with the failed “TARP” plan. Congressional overspending has been a continuous problem since before World War 2. So how soon can we reasonably begin to hold Obama responsible for the accelerating economic decline?
The answer is that we have to hold Obama accountable now in proportion to his action and inaction. His actions -- the spending spree in the trillion-dollar so-called “stimulus package” and his proposed $3.5 trillion budget -- have further stalled the recovery by intervening too deeply and spending trillions of dollars we don’t have. His inaction on the promised financial market recovery plan fuels Wall Street’s panic.
Obama has proposed a budget of over $3.5 trillion accompanied by tax increases -- such as the anti-global warming “cap and trade” emissions tax that will raise energy prices -- resulting in an increase in the federal deficit to almost $2 trillion.
In a March 8 New York Times interview, Obama said this was a fiscally responsible plan. Unfortunately for our economy, the real world doesn’t agree.
Snip....
http://www.humanevents.com/article.php?id=30984
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The weird thing is Nero spent money like crazy and had these HUGE projects for Rome that were a monument to him. He pretty much bankrupted Rome. Sounds like the stimulus bills.
He is either very ignorant and oblivious OR he is doing it on purpose. Considering the speed and efficiency he has taken to destroying this country after his swearing in, I’m beginning to really believe it’s the latter.
Obama Fiddles While Wall Street Burns
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