Obama's Financial Failure

Instead of hitting the brake, he hit the gas as we head for the cliff:

Obama’s Financial Failure

Peter Wehner – 04.05.2010 – 12:41 PM

It’s impossible to know with certainty at this point because we’re only about 30 percent through President Obama’s first term, but I suspect he will be judged quite harshly by history and his countrymen for not simply avoiding but dramatically accelerating the major domestic concern facing the United States: our unsustainable and soon-to-be debilitating deficit and debt.

I don’t lay all, or even most, of the blame on President Obama for the debt he faced upon taking office. While his party, like the GOP, was clearly complicit in the situation, and Obama’s own actions in the Senate (especially blocking reforms of Fannie Mae and Freddie Mac, which played a role in the collapse of the housing market) contributed to what went wrong, much of the river of red ink he inherited was due to a financial and credit implosion for which he wasn’t chiefly responsible. More…