Seen on Instapundit, reference to an editorial in USA Today on “Deficit-Attention Disorder”. Very very clever.
In the US the level of debt has just gone over $16 trillion with not a thought in the President’s mind about what he is going to do about it, other than to raise taxes on productive enterprise which will only make things worse. We are dealing with the American mainstream media so the editorial had to begin by placing blame on GW Bush and the Republicans. But it then went on to say this:
If there is a single area in which Obama deserves failing grades, it is his failure to demonstrate serious, sustained leadership on long-term fiscal issues. Call it deficit-attention disorder.
In each year since Obama took office, the government has borrowed, or is projected to borrow, well over $1 trillion, pushing the government’s total debt to $16 trillion, or about $121,000 per household.
The math behind these shortfalls is plain to see. On Obama’s watch, the federal government has been spending at a rate equal to 24.4% of the economy (the highest rate among presidents since World War II) and taxing a rate of 15.4% of economy (the lowest of any post-war president).
The only issue is, in what area should Obama be given passing grades? None I can think of although it is true that he has probably knocked a couple of strokes off his handicap.