Wall Street Train Wreck

Obamagedddon: "Debt Man Walking"

And Barack Hussein Obama came on the air yesterday to blame the GOP and the Tea Party Movement. Pfffft.

From this column by Dana Milbank (Of all people!):

...The economy crawls, the credit rating falls, the markets plunge, and a helicopter packed with U.S. special forces goes down in Afghanistan. Two thirds of Americans say the country is on the wrong track (and that was before the market swooned), Obama’s approval rating is 43 percent, and activists on his own side are calling him weak.

Yet Obama plods along, raising gobs of cash for his reelection bid — he was scheduled to speak at two DNC fundraisers Monday night — and varying little the words he reads from the teleprompter. He seemed detached even from those words Monday as he pivoted his head from side to side, proclaiming that “our problems is not confidence in our credit” and turning his bipartisan fiscal commission into a “biparticle.”

He reminded all that the situation isn’t his fault (the need for deficit reduction “was true the day I took office”), he blamed the other side (“we knew . . . a debate where the threat of default was used as a bargaining chip could do enormous damage to our economy”) and he revisited the same proposals he had previously offered to little effect: extending unemployment benefits and the payroll tax cut, and spending more on infrastructure projects.

This, he said, is “something we can do as soon as Congress gets back,” along with further deficit reduction. “I intend to present my own recommendations over the coming weeks,” he said.

Over the coming weeks? As soon as Congress gets back?

In the White House briefing room after Obama’s statement, the press corps grilled Jay Carney about the lack of fire in the belly.

“The president said our problems are imminently solvable, and he talked about a renewed sense of urgency,” CBS’s Norah O’Donnell pointed out. “Why not call Congress back to work?”

Carney chuckled at this suggestion.

“I mean, the Dow dropped below 11,000 — where’s the sense of urgency?” O’Donnell persisted....

Read the entire essay HERE.

OUCH!
Obama's dead-looking eyes and general lack of affect in his speech yesterday indicate to me that he finally realizes that he's out of his depth and, even worse in his own eyes, has the very real possibility of losing in November 2012.