THE OBAMA DEBACLE?

Despite overheated rhetoric by its defenders, history will not prove kind to George W. Bush and his foreign policy decisions that have been or well be debacles. The Obama administration is quite right to argue repeatedly that the Bush team left behind a foreign policy mess exacerbated by economic and financial meltdowns. However, unless it is lucky or changes direction dramatically, Barack Obama is likely to prove as debacle-prone in his domestic economic policies as George Bush was in foreign policy.

The threats and dangers to this nation are both domestic and foreign. Unless cynicism was the driving factor underwriting the economic and financial policies that have translated into the execution of the already troubled Troubled Asset Relief Program or Tarp started by the Bush administration, the economic stimulus package and subsequent financial recovery programs not the least of all was the bailout of AIG and General Motors, will not accomplish their aims. Debate is now focused on health care reform that if the CBO is correct will add hundreds of billions of dollars to the national debt and hike taxes for the well off who already pay the lion’s share of federal revenue.

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