I think the folks at Standard & Poor’s kind of sealed Baroke Oblahblah’s fate as a one-term charlatan.
It’s always Groundhog Day with this guy, as he’s always going on and on about growing jobs. But during his disastrous three-year run, he’s managed to grow the size of government and nothing else. To be blunt, his economic policies are the antithesis of pro-growth. Worse yet, he seems to think that regressive taxation and suffocating regulations are what spur economic activity.
Yearly deficits in the trillions, massive bailouts, misdirected stimuli, exploding regulations on businesses large and small, the expensive uncertainty that is his divined and roundly unpopular health care plan and the wrong-headed belief that an interventionist government will pick the economic winners and losers have--within the blink of an eye--reduced this country to an economic basket case.
Two years ago, the Fedrule debt held by the you and I was less than $6 trillion, or about 40% of GDP. At the end of 2010, the debt was roughly $9 trillion, or 62% of GDP. And now, with the deficit ceiling having been raised to $16.5 trillion, the still soaring debt has now approached 100% of GDP.
He has failed. He is a failure. And he has failed every American.
Our descendants are going to look back on this still unraveling period of time as America’s lost decade. Perhaps, lost decades.
He can point his annoying finger of blame at all of the usual targets; Bush, Republicans and the Tea Party. Yeah, he can continue on with his petulant lecturing, chastising, berating and belittling of those of us who know him to be as utterly clueless as they come, but he might want to consider updating that blank page that is his resume.
Soon enough, it'll be time for him to eat his peas (while we can still afford them).
And with that, where once we donated goods to the Salvation Army, we might soon be doing the bulk of our shopping there.
I'll see you at the thrift store.