hypocritexposer
Well-known member
Like a troubled bank, President Obama is overleveraged. When a bank makes risky loans and many of them default, the bank goes bankrupt (or gets bailed out). When a first-term president adopts risky policies and many of them fail, his prospects for sustained public approval and reelection diminish.
So Obama, like a banker who made a bad loan, is confronted with a problem of his own making. The president said Bush acted too hastily in setting up Guantánamo. But Obama's announcement, two days after his inauguration, of a deadline for closing Guantánamo was a rash decision made in even greater haste.
Obama has set "energy independence" as a goal. But his policies make that goal harder to achieve. His administration has refused to open new areas in the United States and offshore for oil exploration and production. It favors lavish subsidies for renewable energy (wind, solar) that will do little in the foreseeble future to make up for the shortfall in domestic production of gasoline. As the demand for gasoline increases, as it almost certainly will, there will be only one place to turn: foreign oil.
His takeover of the Big 2 in Detroit, General Motors and Chrysler, poses another risk: downright failure. The auto companies are a money pit, requiring tens of billions in federal subsidies just to stay alive. The public opposes the continued bailout of the auto companies, but Obama is stuck with it. And the chance that either company will soon return to profitability is slim.
Taken together, Obama's policies on energy, health care, and financial institutions are risky for still another reason. They require more government control of the economy, which leads inevitably to a less dynamic and innovative economy and to less growth.
http://www.weeklystandard.com/Content/Public/Articles/000/000/016/541ixtmi.asp