Someday, in the future, President Obama and his staff will actually take responsibility for their own actions and their own failures. From the very first day of his presidency he has sought to blame all that ails on someone else. Occasionally, he has been at least partially correct. The economic collapse did occur on George Bush’s watch. While the foundation of the trouble (housing crash) can be rightfully tied to democrat policies under Clinton, Bush had his chances to fix Fannie and Freddie. But after a year or so, the economic troubles belong to the current administration, no matter how much he tries to paint this otherwise. Obama and his spending policies have sent our national debt into the stratosphere.
Now his staff and his main stream media sycophants are attempting to place the blame for the S&P downgrade on the Tea Party. Never mind that the Tea Party and the representatives they sent to Congress tried to get a balanced budget amendment passed and also championed deeper cuts. The lack of both of these was cited by S&P officials as reasons why the downgrade occurred.
It seems strange to me that a group of people who called for deeper cuts in the federal budget, wanted a plan for elimination of the deficit, and wants to see the budget balanced are the focus of ire from the left and their press lackeys. S&P clearly stated that lack of a plan for elimination of the current deficit and the feeble cuts presented were the cause of the downgrade. What is it about this that the democrats don’t understand?
It is amazing that democrats can actually say with a straight face that George Bush’s economic policies were entirely responsible for the economic meltdown. During Bush’s tenure as president, our nation experienced a significant explosion in economic growth. On the day that the democrats took control of the Senate and the House of Representatives, the previous quarterly GDP was 3.5%, unemployment sat south of 5%, the Dow Jones was over 12,600, and we had 52 straight months of job creation. These policies don’t seem like a failed economic policy to me.
Enter the democrats. Within two years of them wresting control of Congress, unemployment topped 10%, the housing market had collapsed, GDP was negative for almost two years running, and our national debt sat at over $1 Trillion. While there have been an occasional flicker of hope over the past year to 18 months, the fact remains that unemployment remains high, the housing market is still sick and will remain so for the foreseeable future, and democrat policies have caused the Dow Jones to collapse. President Obama needs to man-up and begin to accept responsibility for what is going on, then turn his attention to doing what needs to be done to fix it.