Wednesday, August 26, 2009

How To Ruin The U.S. Economy In 7 Months...

Patterico:

by Barack Obama:

  • A 10-year federal deficit of $9 trillion — more than the sum of all previous deficits since America's founding.
  • By the next decade's end the national debt will equal three-quarters of the entire U.S. economy.
  • Unemployment estimated to be at least 10 percent.
  • The American economy will "shrink by 2.5 to 2.8 percent this year even as it begins to climb out of the recession."
  • In mid-July, Obama taunted Republicans that he owns the economy now:

    "I love these folks who helped get us in this mess and then suddenly say, 'Well, this is Obama's economy,'" the president said, pointedly deviating from his prepared text. "That's fine. Give it to me!"

    It was a defiant moment, reminiscent of Bush's own "Bring 'em on!" taunt in 2003 to militants in Iraq.

    Like Bush's brash challenge, Obama's could haunt him, too. It's a calculated risk that confronts his critics head-on and casts him as an activist, on-the-job president."

    Obama took a $1.3T deficit and is turning it into a $9T deficit, all while his economic experts moan that the recession was much worse than they realized. Obama's policies are to blame for much of the bad news but if the economy really was worse than Obama's experts realized, why should we trust them to fix it?

    That is precisely the question we need to be asking ourselves and our elected representatives.  Repeatedly, and with feeling.

    There's my two cents.

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