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Saturday, March 7, 2009

Obama "Bets The Farm"

I think the British paper The Times of London has it right, in its article, "Barack Obama bets the farm in $4 trillion poker game."

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 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”....

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.

A keen poker player, Mr Obama is gambling not only his own presidency, but the future wellbeing of the country. If he pulls it off, they might find room for him on Mount Rushmore. If he fails, he could bankrupt the world's largest economy.

I'm not sure if poker is the best analogy. I would compare what Obama is doing more to Russian roulette, with the gun to our collective economic head.


  1. "A keen poker player, Mr Obama is gambling not only his own presidency, but the future wellbeing of the country."

    We already had a poker playing President, who bet on huge tax cuts to bring us endless prosperity and an invasion of Iraq to lead to democratization of the Middle East.

    I can understand why people are queasy.

  2. With Obama, it's playing Russian Roulette with a semi-automatic.

  3. I have just been reading some of the best history on the banking crisis at the American Thinker... The finger gets pointed back to Barack Obama... his involvement stems from his work for ACORN as a lawyer and lobbyist with regard to ensuring that there is not strong oversight over Fannie Mae and Freddie Mac - something that John McCain attempted to introduce back in 2005.

    Of the many things discussed the Cloward-Piven Strategy stands out as being the most likely reason that Obama has failed to act to stem the crisis but has acted to prolong the financial crisis.