Obama grasps what is common sense, which is that although it is not possible to close the deficit nor pay off the debt in the here and now, because of commitments and choices that have already been made and cannot be changed (such as pensions, interest, tax cuts and the Iraq War), a consensus must emerge to begin passing budgets that are in the right direction.
The top one percent and wealthy corporations own the overwhelming majority of this country and have never been doing better. Nor have they ever had less tax responsibility. Meanwhile, the middle class has been drained dry and the lower class has no recourse either.
It is clear who should be doing more for this country.
http://costsofwar.org/Quote:
For example, while most people think the Pentagon war appropriations are equivalent to the wars’ budgetary costs, the true numbers are twice that, and the full economic cost of the wars much larger yet. Conservatively estimated, the war bills already paid and obligated to be paid are $3.2 trillion in constant dollars. A more reasonable estimate puts the number at nearly $4 trillion.
Then you throw in tax breaks which cost about US$2-3T (and have not succeeded in bringing up employment to even European levels, meaning they've failed 100% except enriching the richest). And the assorted other misfortunes and catastrophes big and small since the Clinton years (the BP disaster, the destruction of New Orleans, and, of course, the depression).
Debt is US$16T. When the war began, it was US$7T.
If we hadn't gone to war, and hadn't cut those taxes, the deficit would be only $2T more than it was - perhaps even less, if you factor in the civilian opportunity cost of the war (the human and material assets slated for war and not investment).
http://146.142.4.24/cgi-bin/cpicalc.pl? ... year2=2004If not for the war and the tax cuts, the debt would have
shrunk in real terms.
...so who deserves blame here?
Oh, and as to Obama. Obama is basically America's Chancellor Valorum. He's a nice, smart, well-intentioned guy trying his hardest with a difficult situation. But he's not what the situation calls for.
Obama was doomed to fail since day one because he plays by the rules. He tries too hard to compromise. What he needed to do was be bold and redefine the terms of the discourse by advancing comprehensive new policies - about the war, about the economy, about healthcare.
That's what Lincoln did. That's what FDR did. That's what Truman did.
Lincoln, Truman and FDR were never afraid to sack military leaders who didn't do what they wanted. They were never afraid to propose a bold and unprecedented new policy because they were worried some people might not like it. Obama may be a smart guy, he may be a good guy, he may even be a truly great man, and he would have been a great president in good times - but he doesn't have what it takes to be a great president.
