I watched Obama\u2019s speech tonight, followed by John Boehner.\u00a0 My primary reaction was:\u00a0 \u201cis this really the best we can do?\u201d\u00a0 Please!\u00a0 While I thought Boehner was better than Obama the reality is that both stunk.\u00a0 Obama gave a campaign speech and was primarily interested in fixing blame on everyone else.\u00a0 It was just plain awful.\u00a0 On the other hand, Boehner didn\u2019t exactly dazzle.\u00a0 Why is it that we can\u2019t seem to find a single Republican who can speak coherently?\u00a0 At a minimum he should have reminded people of how much Obama increased the deficit since taking office.\u00a0 He should have pointed out that if Obama spent the same amount of money that Bush spent during his last year in office, the deficit would be trillions of dollars less than it is today and there would be no need to discuss raising the debt limit.\u00a0 He should have closed with a reminder that in 2006 every Democratic Senator, including Barack Obama, voted against raising the debt limit.\u00a0 Then he should have quoted Obama:<\/p>\n
\u00a0\u00a0 The fact that we are here today to debate raising America\u2019s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can\u2019t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government\u2019s reckless fiscal policies. \u2026 Increasing America\u2019s debt weakens us domestically and internationally. Leadership means that \u2018the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.<\/span><\/em><\/strong><\/p>\n \u00a0<\/span><\/em><\/strong>He could have drove a stake in his heart by saying Senator Obama said:\u00a0 \u201cAmericans deserve better!\u201d\u00a0 We agree, which is why Republicans cannot and will not support raising the debt limit without a firm, no nonsense commitment to cut spending.\u00a0<\/p>\n \u00a0Boehner could have put Obama even more on the defensive by pointing out that Obama has increased spending at a level unprecedented in the history of the United States.\u00a0<\/p>\n \u00a0Who knows how this will play out.\u00a0 Even CNN did not exactly give Obama a glowing review.\u00a0 The standard group of KoolAid drinkers will continue to inhale.\u00a0 The real question is whether or not independents will buy this nonsense.\u00a0 If they do, Obama may get thrown a debt increase life line he does not deserve.\u00a0 But ultimately it won\u2019t matter.\u00a0 It will just delay the day of reckoning and unless we stop spending, that day is coming sooner rather than later.\u00a0 We are already technically insolvent and if we don\u2019t cut expenses default is probably inevitable.<\/p>\n \u00a0In the ultimate irony, the people putting pressure on the U.S. to get its finances in order are the same people who failed to do their job with regard to the financial meltdown.\u00a0 A lot of those companies, including Fannie Mae and Freddie Mac that melted down from toxic subprime mortgages on their books had AAA credit ratings from Moody\u2019s and Standard & Poors.\u00a0 Frankly, in my personal experience, by the time either of these rating agencies downgrades a company\u2019s financial condition it is already too late.\u00a0 \u00a0\u00a0<\/p>\n \u00a0Ultimately I don\u2019t think either speech will accomplish squat.\u00a0 Republicans are going to pass a short term increase in the debt limit.\u00a0 Democrats are going to hold their nose and vote for it and Obama is extremely unlikely to veto it.\u00a0 Nothing else really matters.<\/p>\n \u00a0TDM<\/p>\n","protected":false},"excerpt":{"rendered":" I watched Obama\u2019s speech tonight, followed by John Boehner.\u00a0 My primary reaction was:\u00a0 \u201cis this really the best we can do?\u201d\u00a0 Please!\u00a0 While I thought Boehner was better than Obama the reality is that both stunk.\u00a0 Obama gave a campaign … Continue reading