[kabar]

The real reason for the downgrade is that the US lacks the political will to cut its spending. You can't run trillion dollar plus deficits three years in a row and be fiscally responsible. When Obama took office the national debt was $10 trillion. At the end of his fourth year, the nation will have a national debt of $17 trillion.

We are witnessing the collapse of the welfare state. The entitlement programs are the real drivers of our debt along with means tested welfare programs. Obama is partially responsible for increasing the discretionary budget, but the welfare state is the real problem. We can't afford it, especially with an aging population and mass retirements associated with the baby boomer generation.

[Lucky9teen]

[Terry Mross]

I thought Clinton ended “welfare as we know it”. I guess he didn’t mean what we thought he meant. Maybe Bill egO will ask Dick Morris, from dickmorris.com, about it.

[tcrlaf]

“We are witnessing the collapse of the welfare state.”

Which is EXACTLY what the Obama’s Pals like Bill Ayres and Wade Rathke, (you know, just guys from the hood) and Berkeley Radical Socialists have been trying to do, FOR DECADES, so they can rebuild the US in to the Socialist Utopia of thier dreams.

George Wiley (founder of the NWRO, later ACORN), would be proud of Obama.

I really wish more people knew the history of the people running America today.