Based on your comment, I almost didn't watch. But I did.

OMG, not only is he wrong, wrong, wrong, but the condescension...but, nothing new about that...

The Horror! The Horror!

(I can finally answer that essay question from high school...)....

Kind of makes you want to shrug, doesn't it?

It is somewhat consistent with Keynes but I see as just dangerous. The biggest problem, as you point out, is that little or nothing has been gained. We have just dumped money into failed programs.

That was hard to watch. How wrong was Obama???

Thanks for the correction on open mic night.

And yeah, I remember the MSM oohing and ahing over Obama's clear superior intellect and skill in foreign policy over the knuckle-dragging warmonger Romney.

I also remember seeing a lot of videos clips recently where a lot of things Romney predicted would happen in the debates, particularly in the Middle East, well, happened.

But let's not confuse important issues by referencing actual facts...

I see your point, and can't disagree. The deficits certainly are not being used to build up defense and defeat anybody. (True we lob a few drones here and there, give some marginal help in the Middle East, but this is no Star Wars spending). For the most part the spending is being totally wasted in failed domestic programs, like "jobs programs" that somehow fail to produce any jobs, increased welfare, and who knows what percentage going to corruption and cronies (e.g. "green" energy magnates, Solyndra), etc. etc. And they are indeed destroying our economy.

If you couple this with his Anti-Industrial regulatory policies. e.g., his very personal "War on Coal", his one-man refusal to approve the XL pipeline after his own State Department studies have shown it to be "safe" several times, and both Houses of Congress, in a bi-partisan vote, have also approved it, and I'm sure many more to list, I have to conclude that his was and is serious in his attempt to "fundamentally change America", in particular whatever is left of its Capitalist economy.

Open mic night was just one of many such statements, and that one was to Dmitry Medvedev, Putin's then puppet. Obama said something derisive about the Cold War being over very recently (in the last month), but everyone remembers his comments during the debate with Romney that allegedly won him the election.

I think in Obama's Far Left, 60's mind, it is over, and they won, and that's a Good Thing. Reset.

What was that on "open mic night" The One said to Putin (I'm paraphrasing) pre-2012: "Don't worry, once I'm re-elected, I'll be in a better position to take care of you..."...

https://www.youtube.com/watch?v=T1409sXB...

The scenario you describe is what I was calling the "inevitable mini-crisis".
It should be easy to eliminate the deficit. If they simply froze nominal spending at current levels the problem would go away. I am disappointed they only make token efforts.

Obama told us that the Cold War was over recently in a very dismissive way.

Provided our economy can survive. I have read a few times that the Fed has to be cautious when it comes to raising interest rates. Easy money has helped the stock market and given the illusion of a robust economy. Rising interest rates will have an adverse effect on the economy and eventually make even the interest payments on the debt rise to a point where we can't make the payments. I see no strategy in Washington to even slow down the increase in debt.

My suspicion is the "strategy" of borrowing (in the 80s and now) is more rationalization than strategy. It's easy to spend now at the price of slightly higher costs of debt servicing years from now. This is why many families and individuals are in bad financial shape and ignore it until some mini-crisis hits. The gov't is representing the people in this and taking the same approach. We'll find the political will to stop the borrowing once the inevitable mini-crisis happens.

Makes me wonder who won the cold war. I just can't understand how any one would think deficits at this level are sustainable.

Does that make Obama the Moscow Candidate or the Manchurian Candidate?