Quote:
Originally Posted by Mutt
we are doomed, if I were Obama i'd walk away, his place in history is secure and none of this can be laid on him. he walked into a disaster of epic proportions.
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Fyi the economy was considered "bad" when Obama was elected because it was growing slower than average. Obama took an economy that was growing slowly and sent it straight down the toilet.
As of 2008, the country had accumulated $10 trillion in debt over 232 years. With just two years of Obama, we owed $14 trillion in 2011. No that's nearly a hundred years worth of debt in just two years.
He inheirited a situation where about $200 billion was in risky mortgages, where maybe $40 billion would default. His "solution" was to take $2 trillion from you and I and give it to the likes of ACORN. Two TRILLION dollars spent on a $40 billion problem and only made it much worse.
He came into a slow economy and CREATED a disaster. No serious economist will argue that fact at this point.
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