Monday, August 1, 2011

The President Surrenders

The President Surrenders: "A deal to raise the federal debt ceiling is in the works. If it goes through, many commentators will declare that disaster was avoided. But they will be wrong. For the deal itself, given the available information, is a disaster, and not just for President Obama and his party. It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status..."

4 comments:

MotivatedinOhio said...

I am heartsick and more than a little ticked about this.  I have defended the President, and while I would still vote for him over McCain, I am upset.  This will make our economy terrible.

Underground Politics said...

I'm pretty pissed about it too. When he said that there was going to be less domestic spending than what Eisenhower had my jaw dropped. You can't do shit like that during a recession. I'd rather see foreign aid get cut than domestic spending!

MotivatedinOhio said...

I don't know what to hope right now, but I will be fired up in the future.

Underground Politics said...

I will be too. I'm sick of these people expecting the poor, seniors and the middle class to pay more when we can't.