Monday, January 17, 2011

The Big Owe

Market strategist and chief economist David Rosenberg, of the Canadian firm Gluskin Sheff, has a few choice words about the upcoming debate over whether or not Congress should raise the debt ceiling.

Writing about Obama’s ability to provide leaderhsip on the topic, he says: ”And what can President Obama really say in his defense.  Back in 2006, as Senator he went on record actually resisting support for a raise in the debt ceiling proposed by George Bush 43.  To wit:

“’Leadership means the buck stops here.  Instead, Washington is shifting the burden of hard choices today on to the backs of our children and grandchildren. America has a debt problem and a failure of leadership.’”

“Absolutely incredible.  And the debt bill has surged $3.5 trillion since the 'Big O" (make that Owe) took office in early 2009. “

It should not be news, but it’s nice to have an occasional reality check.

[An afterthought: in the likelihood that some of you do not recall it, but the first person to be called the Big O was a Hall of Fame basketball player named Oscar Robertson who played in the 60s and 70s for Cincinnati and Milwaukee. Link here.]

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3 comments:

  1. AnonymousJanuary 17, 2011 at 10:24 AM

    TO: All
    RE: Heh

    “Absolutely incredible. And the debt bill has surged $3.5 trillion since the 'Big O" (make that Owe) took office in early 2009." -- someone cited by Stuart Schneiderman

    Don't you just 'love' it, when a 'Plan' comes together?

    Problem is, WHAT is the 'Plan' and WHO does it 'benefit'?

    Therein lies the proverbial 'rub'.

    Regards,

    Chuck(le)
    [Qui Bono?]

    P.S. For additional 'clues', one should look to the Big O's mentors:

    • PoliSci, Bill [Bomb the Pentagon] Ayers
    • Spiritual, the good [God Curse America] Reverend Wright
    • Religious, bowing to the Sheik of Araby

    In military intelligence parlance, we see such as 'key indicators'.....

    ReplyDelete
  2. AnonymousJanuary 17, 2011 at 10:25 AM

    P.P.S. There's an old adage about how to 'rob a bank. The best way is to OWN the bank.

    Applying that to governance, what is the best way to destroy a country?

    ReplyDelete
  3. AnonymousJanuary 17, 2011 at 10:27 AM

    P.P.P.S. But there you have it.....

    As John Adams said, so long ago.....

    Democracy... while it lasts is more bloody than either aristocracy or monarchy. Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There is never a democracy that did not commit suicide.

    So that makes US a classic example of a 'self-inflicted wound'. We did this to US, by ourselves.

    ReplyDelete