The news on the economy this morning is not encouraging. The GDP numbers have been revised downward to an anemic 2.7%. When asked to identify the Obama administration’s greatest accomplishments so far, one of his ardent supporters identified: 1) ObamaCare and 2) Afghanistan. Yikes! 60% of the country remains opposed to ObamaCare with 55% supporting its repeal and Afghanistan is in need of a complete overhaul, especially on the civilian side meaning the Ambassador and special envoy Holbrooke.
President Obama now travels to the G8 and G20 meetings this weekend to try to get the rest of the major economies in the world to follow Obama’s leadership into recreating the Great Depression. The good news is that the other heads of state are not members of the Democratic Party or beholding to Obama. They are responsible to the citizens of their own countries. For the European countries, they cannot go on a similar spending binge that Team Obama has embarked upon, if for no other reason than their declining birth rates will not create a new generation of people to hand the bill to. They see the flashing warning lights that emanated from Greece and are rapidly changing course.
Either President Obama will use his silver tongue to convince the others to open the spending spigot or he will come home with his tail between his legs, his policies discredited worldwide. Either way it will not be positive for the United States of America.
