"Let's recall how we arrived at this crossroads. A credit mania of several years that no one wanted to end suddenly turned into a financial panic in 2008. In their anxiety, and with Republicans holding the White House but having no explanation, the voters turned to the candidate who seemed coolest under fire. Though relatively unknown, Barack Obama was at least promising "hope and change."
Upon taking office, Mr. Obama proceeded to unleash the entire liberal economic and social policy arsenal in the name of ending the panic. Whether or not these were his own convictions, the President allowed the Pelosi Congress to use that rare political opening—and 60 Senate Democrats—to pursue a 40-year wish list."
Review & Outlook: A Downgrade Awakening - WSJ.com
Wednesday, August 10, 2011
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1 comment:
The downgrade hurts seniors, boomers and retirees the most. Maybe it's O's revenge on the Tea Party for calling his bluff.
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