"the Obama administration is the most fiscally irresponsible in the history of the U.S."

That from Kevin Hassett at Bloomberg:

The federal picture is so bleak because the Obama administration is the most fiscally irresponsible in the history of the U.S. I would imagine that he would be the intergalactic champion as well, if we could gather the data on deficits on other worlds. Obama has taken George W. Bush’s inattention to deficits and elevated it to an art form.

The Obama administration has no shame, and is willing to abandon reason altogether to achieve its short-term political goals. Ronald Reagan ran up big deficits in part because he believed that his tax cuts would produce economic growth, and ultimately pay for themselves. He may well have been excessively optimistic about the merits of tax cuts, but at least he had a story.

Obama has no story. Nobody believes that his unprecedented expansion of the welfare state will lead to enough economic growth. Nobody believes that it will pay for itself. Everyone understands that higher spending today begets higher spending tomorrow. That means that his economic strategy simply doesn’t add up.

Well... perhaps his economic strategy doesn't add up because he's so busy and preoccupied correcting those thousands of Bush mistakes.

Perhaps.

Comments

[Locutisprime]

Yep, we went over a trillion dollar deficit for the year today.

[salvage]

>Obama has no story. Nobody believes that his unprecedented expansion of the welfare state will lead to enough economic growth

Yeah, it totally didn't work in the 30s and 40s. Obama should spend billions on an illegal war, that would do the trick!

[Locutisprime]

See there Salvage, I told you that we regularly go after your man on issues of substance didn't I.

Now, I just had a thought.....isn't "fiscally responsible" an oxymoron when describing liberal democrats and their socialist mentors?