Obama To Suffer "Resounding Defeat"

The honeymoon is over, campaign promises for job creation remain unfulfilled, Biden has admitted that the administration "misread" how bad the economy was and California, under the Obama economics, has or will issue over $3 billion in IOU's this month alone.  That means, if you are doing business with the state, you won't get paid.  Instead you will get a slip of paper.

Well try paying your employees with a slip of paper, or try paying the costs of operating your business with a piece of paper.  As bad as it seems for the government of California, the trickle down effect of that crash will be devastating.

Now Bloomberg is predicting that the poor econmomic conditions in California are bad news for Obama.

The California morass has Democrats in Washington trembling. The reason is simple. If Obama’s health-care plan passes, then we may well end up paying for it with federal slips of paper worth less than California’s. Obama has bet everything on passing health care this year. The publicity surrounding the California debt fiasco almost assures his resounding defeat.

California has engaged in an orgy of spending, but, compared with our federal government, its legislators should feel chaste. The California deficit this year is now north of $26 billion. The U.S. federal deficit will be, according to the latest numbers, almost 70 times larger.

Bleak Picture

The federal picture is so bleak because the Obama administration is the most fiscally irresponsible in the history of the U.S. I would imagine that he would be the intergalactic champion as well, if we could gather the data on deficits on other worlds. Obama has taken George W. Bush’s inattention to deficits and elevated it to an art form.

The Obama administration has no shame, and is willing to abandon reason altogether to achieve its short-term political goals.

And hows all that "Hope" and "Change" going for you liberals out there?  GEEZ!