From the White House that will “never let a crisis go to waste,” Obama is now whining about our manufactured debt crisis — not that we’re over our heads in debt, but that we can’t take on more.
His latest speechifying as reported by Real Clear Politics:
“In the last few months, the economy has had to absorb an earthquake in Japan, the economic head winds coming from Europe, the Arab Spring and the rise in oil prices, all of which have been very challenging for the recovery. But these are things we couldn’t control. Our economy didn’t need Washington to come along with a manufactured crisis to make things worse. That was in our hands. It’s pretty likely that the uncertainty surrounding the raising of the debt ceiling for both businesses and consumers has been unsettling and just one more impediment to the full recovery that we need and it’s something we could have avoided entirely…”
Obama’s right – this is a man made crisis. But if he really thinks that the underlying problem is his inability to borrow more money by raising the debt limit, I’m scared. He’s like a man who thinks his real problem is that his drivers license has been revoked for repeated drunk driving offenses, not that he’s an alcoholic.
If you don’t know what the problem is, there’s no way you’re going to fix it. And it doesn’t look like we are fixing it.