The other day a group of us were at a restaurant. All of a sudden there was a child stomping his feet and stating he was not going to do what he was told. He made a big scene even after he was told that these are the rules and you have to follow them. It was quite surprising that people were watching this and not pointing out the wrongness of the behavior. Then everyone realized that it wasn’t a five-year-old but rather our president on TV stating he was not going to negotiate with Republicans about the debt ceiling. Frankly it was hard to tell the difference.
The president does have a point. The fact is that prior presidents have not been held hostage by Congress regarding the debt ceiling, so why should he? Well, prior presidents have not run up a deficit of $6 trillion dollars in four short years. Prior presidents collectively had run up only a little over $10 trillion collectively.
Then there is the other thing – Obama’s own previous position. We are sure you have read Senator Barack Obama’s commentary on raising the debt ceiling from March 16, 2006. We will not bore you will all the details; you can find it all online. Suffice it to say it was a full-throated attack on raising the debt ceiling and a statement he was voting not to do so. You can use the word hypocrite, but that would not be exactly fair to Obama. He has pulled a Gilda Radner and said “Never Mind.” So his attack against raising the debt ceiling did not really count.
And why should Obama apologize for excessive spending when he has so many leftist adherents making fun of those silly Republicans concerned about the annual deficit. One leading lefty, Katrina vanden Heuvel, stated in a recent column “This deficit obsession not only saps attention for our shameful health failures, but also contributes directly to them.” But she pales in comparison to the King himself – Paul Krugman. Krugman has written column after column belittling Republicans for their stupidity about deficits.
In a recent column Krugman again stated, “The budget deficit isn’t our biggest problem.” He went on, “It’s true that right now we have a large federal budget deficit. But that deficit is mainly because of a depressed economy. The deficit will come down as the economy recovers. Revenue will rise while some categories of spending (unemployment benefits) fall. Still will economic recovery be enough to stabilize the fiscal outlook? The answer is, pretty much.”
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