Who knows; the only mystery left is how much damage will the last gasp of 2016 bring?
by Victor David Hanson // PJ Media
Three things so far have saved Obama’s otherwise unfortunate tenure; all came over his own objections.
One, after the 2010 midterm tsunami, the newly elected House Republicans put a lid on spending — ratified by the wins of 2014. Sequestration is a crude blunderbuss and slashed defense, but it at least slowed down Obama’s disastrous serial $1 trillion-plus budget deficits. In spending terms, it certainly has vastly reduced the government’s share of GDP. We know that because Obama occasionally brags of falling deficits, as if to say, “Thank you for not letting me be entirely myself.” When he leaves office, we will have $20 trillion in debt and nearly 100 million permanently out of the work force, as well as uncontrolled and unaddressed entitlement spending on life support through zero-interest rates. But we will still be alive for now, thanks to sequestration. Shutting down the government may have been politically unwise (or not — given the 2014 midterm elections [1]), but it kept the debt financeable.
We don’t know yet what issue will end up driving the autumn phase of the 2016 election. In 2008 a hectoring Obama thought it would always be Iraq — an issue that he had scrubbed from his website by mid-2008 when the surge had rendered his anti-war traction irrelevant.
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