The President believes he can change US politics for a generation. If he's wrong he could bankrupt the whole country
One of the most seductive elements of Barack Obama's ascent to the White House was his unshakeable conviction that he was being called upon, at a time of epochal peril, to bend the arc of history America's way.
Only a candidate possessed with such boldness and self-belief would have challenged Hillary Clinton for the Democratic nomination two years after leaving the Illinois state senate, promising in his first campaign speech to “transform a nation and usher in a new birth of freedom on this Earth”.
Only a man who frequently compares himself to America's greatest President, Abraham Lincoln, would declare that when he was elected, “the rise of the oceans will begin to slow”. Only someone who believes that America is on the crest of a dangerous historic wave - and that he “can help guide it” - would have undertaken a glitzy world tour midway through the campaign...
...Then came his near-$4-trillion budget last week. It is a manifesto to usher in a new age of government activism that involves levels of borrowing and spending never before seen in the US and is a document of such staggering ambition and risk that even some of Mr Obama's Democratic supporters are suddenly beginning to feel a little queasy...
...The markets are so unnerved about Mr Obama's ability to rescue the financial sector, and by the numerous bailouts that have had little effect, that wealth is being destroyed on Wall Street at a rate not seen since the 1930s. The President said on Tuesday that he does not worry about “the day-to-day gyrations of the stock market”, but investors have made it clear that his economic prescriptions have so far failed to reassure them...
This is exactly what the man wants! If you paid any attention during the election(which, obviously, most people did not) you'd have seen and/or heard the tapes from his interview with WBEZ, Chicago Public Radio where he basically said he didn't like the way the Founding Fathers put together the country and his desire to redo it! Don't believe me?! See for yourself. I posted it on Wednesday, October 29 of last year under the title In His Own Words.
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