Our Ten-Trillion-Dollar Man

Pajamas Media ^ | 7/25/2011 | Victor Davis Hanson

[JudyM]

Borrowing Is No Longer Stimulus?

The Congressional Budget Office not long ago forecast that Barack Obama’s $1 trillion-plus annual deficits — scheduled over the next decade — would result in almost another $10 trillion in aggregate debt. Going back to the pre-Bush tax rates this time won’t balance the budget. Slashing discretionary spending will not. So large has the splurge become, and so hooked are the constituencies of federal money, that massive cuts to entitlements necessary to stave off financial implosion may well prompt Greek-like protests.

That staggering sum was apparently conventional wisdom until the November 2010 election. But now there is fear that at some point in the future, Obama will not be known as the first African-American president. Nor will he be cited even as the hope-and-change phenomenon of 2008. Instead, posterity shall know him as the single greatest borrower in American presidential history, a novice who nearly wrecked the U.S. economy by borrowing over $4 billion a day without any feasible proposal how to pay back such a vast sum — taking a post-recession recovery and turning it into a stagflationary mess. In the third year of his tenure, Obama is still left only with “Bush did it” as an explanation of what went wrong.

[JudyM]

Excellent summary of the Obama presidency to date.

[CaptainAmiigaf]

20 times WRONG. I correct-—
TERRIFYING summary of “HIS” presidency to date.

[Don Corleone]

so hooked are the constituencies of federal money, that massive cuts to entitlements necessary to stave off financial implosion may well prompt Greek-like protests.

CLOWARD-PIVEN!!!!!

[Mother Mary]

>>Excellent summary of the Obama presidency to date.<<

AGREE! Highly recommend reading the article and the responses. Thoughtful and Truthful.

[camle]

"$1 trillion-plus annual deficits — scheduled over the next decade — would result in almost another $10 trillion in aggregate debt""

no!!!! really????? who'd a thunk?

[Mother Mary]

“So we have what we have always had — the most partisan and the least experienced man in the U.S. Senate as president, elected by a perfect storm of events (e.g., the 2008 meltdown, the media adulation, the anemic McCain candidacy, the furor over Bush and the Iraq war, the orphaned election without a single incumbent, etc.), in which no one was allowed to ask “Who is this stranger?” and “What has he ever done?”, in which the media finally gave up its last shred of impartiality and became a megaphone, as we were assured that Mr. Obama’s most intimate associates were really total strangers, his once praised avid church-going was merely sporadic, his most partisan voting record was in truth bipartisan, and his bad habits of saying disturbing things were simply a symptom of racialist, raise-the-bar nitpicking on behalf of his Neanderthal critics.”

This is a long and overly wordy article, but many will find it is RIGHT ON. The responses are of higher level thinking also.