Let’s add this data point: the Obama administration projects $1.2T 2012 budget deficit.
Didn’t our Dear Leader promise to cut the deficit in half? Instead he is taking it to new record highs.
Here is another example of fiscal mismanagement by the Obama regime: GM (Government Motors) ramps Up Risky Subprime Auto Loans To Drive Sales.
Let’s review recent history, it was the federal government policy of forcing record numbers of subprime housing loans that lead to the last fiscal crisis. A policy formed by the so-called “Community Reinvestment Act” that was put in place and defended by the far left wing of the democrat party.
Can anyone see the subprime auto loan market turning out any better than the subprime home loan market?