How long before this Obama economy costs us more than the national debt?

To date the Obama economy has cost the US about $3 trillion in wealth. That's only taken about a month and a half. At that rate, Obama will have eclipsed the entire unfunded obligation of the United States ($53 trillion) by the end of his second year in office. Is that right?|||Don't worry. Your wait will be minimal.|||How can any rational person call this the "Obama" economy? The man has not been in office for three months yet!





This meltdown is a product of decades of fiscal policy, beginning with the deregulation of the market by the Reagan Administration. It was encouraged by the export of capital and manufacturing jobs during the first Bush administration and ignored by Bill Clinton.





Now, thanks to the ideological blinders worn by George W. Bush and his fellow conspirators, we have destroyed our national infrastructure as effectively as the corporations have their own. Our plants are closed or in disrepair because not a penny has been reinvested in current technology. Our schools and roads have been treated to a dose of the same philosophy.





Conservatives take care of their possessions. We accept that as a part of the responsibility of ownership because of the cost of replacement. This is fiscal prudence. Somehow the Republican party has fallen into the hands of people who espouse conservatism but refuse to practice it.





This economic disaster comes from that neglect. Obama may or may not be able to fix the damage, but it is unfair to blame him for the mess we made ourselves. We elected the snake oil salesmen and we drank the Elixir. Once we are suffering from the effects of poison is it fair to blame the doctor if we get sick?





To use a different analogy, we bought a get rich quick scheme and got taken. Is it the policeman's fault, or should we have known better?





The Great Depression was caused by greed and dishonesty in unregulated markets. The South Sea Bubble that collapsed the European economy in the mid 1700s was exactly the same. It isn't as though history has not been warning us; it's just that we didn't listen.





I doubt that the stimulus package will work, because it does not reclaim the lost manufacturing sector. However, the Republican alternative of more tax cuts and deregulation is so gratuitously inadequate we are left with no credible alternative.|||With the bailout plans of last year and this year being entirely deficit spending, the interest payments on the national debt will be the largest item in the federal budget in 2010. That's what happens when you spend more than you make every single year for FORTY FREAKING YEARS. This is not just an Obama problem. Congress has continually raised the debt ceiling since 1969. If you or I did that we'd have to file for bankruptcy. Can you imagine if I called my credit card company and asked them to raise my "debt ceiling"? It's laughable that anyone in Congress thought this could continue indefinitely with no consequences. It's like they've just been passing it off for 40 years until it has gotten to a point where we're almost 11 trillion dollars in debt and somehow are using money we don't have to save banks that don't have money either from collapsing under the weight of their own bad decisions.





It's ludicrous.|||That is something some people fail to understand, no matter how it is explained to them.





Since you can fight ignorance but you cannot fight a refusal to learn, it's pointless trying to explain.





Let me just tell you that we're building a new country, and in the process we _will_ destroy that old country of yours.





It was made by your people, to benefit your people. It was never ours. But now we are the majority. And you'll have to live with it.|||If you don't like the results of Republican policies then don't vote Republican. Stop whining and passing the buck. As you well know, the stock market is down because American companies lost money last year, when Bush policies of churn and burn were still in force.





Your post is exactly why Republican approval rating is in the low teens.|||I dont like it either but how can we lay this at the doorstep of our new Pres when last Pres did same thing? IT is government period, regardless of who the Pres is. I am so sick of politics. Doesnt matter which side you are on because it is all the same.|||It already has...some people are just too stupid to know it.