Last August our credit rating was lowered by the Standard and Poor's rating firm. Obama of course blamed the discourse on the Republicans and didn't take a lick of blame for the debt crisis we are facing in this country. Obama ultimately buffaloed the Republicans into believing he would get serious when it comes to the budget deficits. In return for an immediate increase in the debt limit, Obama promised a debt commission and automatic budget cuts aimed at getting both sides to come to an agreement. This debt commission was set up for failure from the beginning. There was no way the Republicans and Democrats that were named to the commission were ever going to be able to come to an agreement. Both sides selected ideologues for this commission knowing that if they couldn't agree that there was no way democrats would allow the medicare cuts and the republicans allow the defense cuts to be too large as to turn off their base. Obama gamed the system so that he could have his debt limit increase and would not have to worry about the deficit until he was at least a lame duck, when he would be enabled to demagogue the situation with no fear of reprisal. However, it seems he miscalculated.
Obama received his $2.1 trillion increase int he debt limit but it may not make it through the election cycle. Seems now that maybe the President will burn through $2.1 trillion in less than 14 or 15 months placing the debt limit front and center just before the election. In the event that Obama spends $2.1 trillion in addition to all of the revenue he takes in over what will amount to be 15 months, we as a country will be sunk. A $16.6 trillion debt on the books without even counting our unfunded liabilities will be taking America where the Greeks have already gone. Deficit spending in access of 100% of GDP will make it impossible to grow out of our problem. Having another downgrade in our credit rating will only compound the issue. As the costs associated with borrowing money increase so will the interest on existing debt. We will quickly spiral out of control.
Obama is busy attempting to buy enough votes to stay on as President. My question is why does he want to be President? Obama has done nothing to fix the economy. All Obama has done is spend us into oblivion by borrowing almost as much in four years as Bush did in eight. Obama is only focusing on the economy for the first time in three years because his poll numbers are weak. Obama talks about investing in the future but has not laid out what his vision for America is exactly. We can surmise from his actions that Obama sees an America that is unable to feed the, unable to protect the elderly, and unable to provide defense against our enemies. Obama is slowly ensuring anarchy ensues in his quest for an egalitarian utopia that does not really exist beyond the dreams of the left wing ideologues.
Obama is directly responsible for the first downgrade in the US credit rating and is cruising towards another. All Obama did was spend money we do not have. Obama calculated a number that would ensure another debt limit increase was either one of the last things he does as President or the first thing he accomplishes as a lame duck President. Obama tried to ensure that someone else would be to blame for his willful disregard of other people's money and the American way of life. now I am sure the Tax cheat from Treasury will do everything he can to game the system to ensure the $2.1 trillion makes it past November. The tax cheat will stop contributing to retirement benefits or other such accounting gimmicks to get Obama through. The problem is an out of control spend thrift that has run out of ideas. Obama may have miscalculated more than just the debt limit he requires. Let's hope that he miscalculated the mood of the American people and he becomes one of those waiting in the unemployment lines.