This Is Truly A Good Time To Be A Democrat!

[humbled_opinion]

52. Yes it is great that he is the one in the WH

However, I will reserve my jumping for joy until after I hear exactly what his plans for this term are. Already I have the idiot teabaggers at my job talking about the Obama debt bubble. They claim that if Obama does nothing different on this term than his last that in 2017 when he leaves office he will be leaving a legacy of 22 Trillion in debt massive inflation, and higher interest rates. They claim that there will come a time when the FED will not be able to keep the interest rate on the debt at the current 1.5 percent and it will return to the historic norms of 5-6 percent when that happens the interest payments alone on the debt will eclipse more than half of the current revenue causing austerity to destroy SS and Medicare. They believe there will be no way to tax our way out of that problem and any massive tax increase on the Middle class will meet with a major revolt against Obama at the end of his term they believe that historians will ask why Obama did nothing to deal with the bubble as it will destroy the currency, as they run the media talk circles with this type of debt bubble fear mongering it will not take much to make it stick in many persuadable minds.

My fear is that Obama himself will succumb to the future debt bubble talk early on this term and be enticed to cut spending and give in on the GOP dream of privatized SS and major cuts to Medicare. The baggers say that Obama has no stomach for massive cuts to the DOD because the news streams of his term will continue to show a resurgent Communist Russia, a building of massive military from Communist China, the Iranian nuclear threat becoming a reality and further deterioration in the Middle East not to mention the rise of Al Queda in Africa. They claim the only thing left he has is massive spending cuts and every day we spend at current levels it means those cuts get just a tad bit deeper.

I know what the correct solutions are to this debt problem but I have yet to hear them spoken by the President that is why I said my jumping for joy is reserved for now.