Monday, August 08, 2011

Obama, 8 Aug 2011 

Last Friday the United States was downgraded by a rating agency for the first time in history. Markets world-wide reacted negatively. This morning, about 20 min. ago, Obama spoke in public for the first time on the event. His reaction: more of the same.

He gave his #@&*! campaign speech! Blame S&P, blame the Repubs and Tea Party, blame Europe, blame tsunamis. He said he'd lay out his plan for recovery "in the coming weeks" and would work with the supercommittee on crafting legislation to deal with the debt. The only ideas he set out with any specificity were to extend the payroll tax holiday, extend unemployment, "invest" in infrastructure. The man hasn't had a new idea since February 2009!

I hate to say it but our President is a useless piece of baggage and is doing more to exacerbate the problem than to solve it. November 2012 can't come soon enough.

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