Thursday, August 11, 2011

Dr.Thomas Sowell on the downgrade

In Don Marquis’ classic satirical book,   Archy and Mehitabel, Mehitabel the alley cat asks plaintively, “What have I done to deserve all these kittens?”

That seems to be the pained reaction of the Obama administration to the financial woes that led to the first-ever downgrading of America’s credit rating.

There are people who see no connection between what they have done and the consequences that follow. But Barack Obama is not likely to be one of them. He is a savvy politician who will undoubtedly be satisfied if enough voters fail to see a connection between what he has done and the consequences that followed.

To a remarkable extent, he has succeeded, with the help of his friends in the media and the Republicans’ failure to articulate their case. Polls find more people blaming the Republicans for the financial crisis than are blaming the president............

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