Obama likes to say,“We inherited this mess.” The debt was 41 per cent of GDP at the end of 1988, President Ronald Reagan’s last year in office, the same as at the end of 2008, President George W. Bush’s last year in office. If one thinks policies from Reagan to Bush were mistakes does it make any sense to double down on those mistakes, as with the 80 per cent debt-to-GDP level projected when Mr Obama leaves office?
Believe it or not..the debt to per cent of GDP has been relatively the same for over 60 years, from what I can understand. We are going where the USA has never been before. But that is OK. Obama wants us to tighten our belts and buy little "green" cars and get aquainted with a more reasonable "lifestyle". I guess I'll have to cancel my $$$ trip $$$ to New York where I was gonna take my wife to see a Broadway Play. *sigh*
Keedy
|