Obama's FF- rated Administration

Just hours after the stock market closed on Wall Street this evening, the credit rating agency, Standard and Poor's, downgraded the credit rating for the United States of America from a top rating of AAA to AA+.  Thus, Barack Obama goes down as the first American president in history to have a debt downgrade during his administration.  Even the thoroughly-failed one-term president, Jimmy Carter, did not have a credit rating agency down-grade during his disastrous four years.

Obama should receive a double F- for crashing America's economy.  He inherited a bad economy from his Republican predecessor, but he made the economy much worse with his trillions of dollars of additional spending; adding some $4 trillion to the national debt and many more trillions to be spent in the near future.  Obama's two major programs, the trillion-dollar stimulus law and the multi-trillion ObamaCare law have been complete disasters.  Both were opposed by the majority of the American people. 

Today's lead editorial in "The Wall Street Journal" entitled "The Global Rout" points out that there is absolutely no silver lining in yesterday's stock market crash of 512 points in the Dow Jones Industrial Average.  The editorial says:  "They say there’s always a silver lining. Yesterday there wasn’t. Markets around the globe sold off in a chaotic day. The Dow Jones Industrial Average’s hair-raising ride ended the day down 512 points. The discernible theme among the wreckage was a generalized loss of confidence in the policy-making role of governments, here and in Europe."

We are approaching the third anniversary of Obama's inauguration, and he and his White House minions are still blaming President Bush for his huge economic problems.  "The Wall Street Journal" concludes its editorial today by saying:  "In the wake of the debt deal, liberal economists are now complaining that the downward pressure on spending violates the Keynesian commandment to flood a faltering economy with government outlays.  We’ve done that. From the first months of the Obama Presidency, billions of stimulus have been injected into the economy, budgeted federal spending has grown toward 25% of GDP and the Federal Reserve has poured oceans of cash into the markets.

The Keynesians have fired all their ammo, and here we are, going south. Maybe now President Obama should consider everything he’s done to revive the American economy—and do the opposite."

Unfortunately, many political analysts believe that the most liberal United States Senator out of 100 Senators during his two years in the Senate, who was elected president in 2008, will not reconsider the destructive path upon which Obama has put the United States.  If he does not reconsider, Obama will be another one-term president.

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