August 10, 2011

President Downgrade

By Selwyn Duke
When Barack Obama promised change that would transform America, most never suspected that he would make history by presiding over the nation's first-ever credit downgrade.  But, well, yes -- he can. And he did. Of course, the blame cannot be laid entirely at Obama's feet.  Since Congress controls the purse strings, it allocates the money (the president does have a veto pen, however).  And, if in light of this we can still say that a president "spends," for two terms Obama's predecessor, George W. Bush, spent like a drunken sailor.  Yet the reality is that Obama has spent like three drunken sailors and a tipsy cabin boy.  And this isn't just rhetoric.  According to a Weekly Standard piece featured at the very liberal NPR, deficit spending under Obama is three and one half times what it was under Bush, as he has signed budget increases amounting to a whopping one trillion a year more in deficit spending.  So the reality is that, in a great measure, the...(Read Full Article)