I found something that makes Barrack Obama the greatest president in our history -- in this one respect.
“The Obama administration is projecting that when the current budget year ends on Sept. 30, the imbalance will total $1.84 trillion, more than four times last year's record-high.”
Without the stimulus it may have only been about twice as much.
There is a website I go to occasionally to get deals on cigars (cigarbid.com). I can attest to how spending on stuff you like is addictive. That site is great. Unfortunately, you spend more than you ordinarily would and end up valuing the higher quantity of good stogies you get less. For Obama, at some point no matter how good you think the deals are, you have to stop spending and be disciplined. Whenever I have gone on a spree at cigar bid, I am reminded of my stupidity when it shows up on my statement at some point. I don’t think Obama’s got that bill yet. Or maybe he really doesn’t care about it since we need 3rd quarter, credit card inspired growth… All he wants, I think, is your approval for the illusion that he's turning things around in the here and now.