OBAMA’S ECONOMIC LEGACY: SUCCESS? OR, FAILURE?

By Marilyn M. Barnewall
September 20, 2009
NewsWithViews.com

One definition of insanity is continuing to do things the same way but expecting a different result. Understanding that, one must ask the obvious question: Why does the Obama Administration keep doing the things that got the U.S. economy in trouble? It exemplifies one of three things: Insanity, duplicity, or stupidity. I suppose incompetence could be added to the list.

Over-spending and debt is what caused our current problems. More over-spending and debt will cause more damage and offers no relief. It is insane. What is being done will likely cause the commercial banking industry great stress if not failure. It is impossible to breathe life into something that is already dead on the premise that the old economy can be brought back to life. Yet, advisors to Barack Obama seem fixated on doing just that. Consumer credit no longer drives the economy – and will not for many years. Americans no longer trust the system or the government that supports it.

Quite simply, America is going through a process of bifurcation. The most easily understood explanation of “bifurcateâ€