Eugene David
...The One-Minute Pundit

Thursday, January 27, 2011

Obama's expedient evasion is the opposite of presidential leadership. It maximizes short-term approval ratings while running long-term risks. A loss of investor confidence could trigger a chaotic flight from Treasury bonds and the dollar. One economist recently wrote in the Financial Times: "I hope it does not ultimately require a crisis to restore fiscal [responsibility] . . ., but I fear it will." That was Peter Orszag, Obama's first budget chief. Sobering.

Thankfully Benny and the Wall Street Casino will figure a way to save us. Pffffffffffffffffffffft!

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