Patterico @ Patterico’s Pontifications:
Today, we (re)inaugurate a liar.
What stunned House Speaker John Boehner more than anything else during his prolonged closed-door budget negotiations with Barack Obama was this revelation: “At one point several weeks ago,” Mr. Boehner says, “the president said to me, ‘We don’t have a spending problem.’ “
There is no possible way Barack Obama is that stupid.
He knows spending as a percentage of GDP has exploded under his presidency.
He knows that whether the top tax rate is 90% as it was in 1960, or 30-40% as it’s been since 1990, federal revenue is always 15-20% of GDP:
We don’t have a spending problem? That’s precisely what we have and Barack Obama knows it.
And he doesn’t care.
When this guy was first elected, I knew he was going to enact disastrous policies. But the reality, while it has been less disastrous in many ways than I imagined, has been far worse on the economic front than I could have dreamed possible.
I worried that he would destroy the balance of the Supreme Court. So far, he hasn’t been able to. I worried that he would close Guantanamo, try people like Khalid Sheikh Mohammed in federal court, and generally close down the war on terror. He tried some of that, but on balance, he’s been OK fighting terror.
But on the debt and deficit, he has been an unparalleled disaster.