S&P lobbed a hand-grenade into the markets today by lowering its outlook on the United States financial condition.
It is now obvious that even with the historic turnover in the House last year, Congress and the President are going to do basically nothing to cut spending in Washington, and it's nearly two years before any further electoral changes can make a difference. WE DON'T HAVE THAT KIND OF TIME!
My initial assessment of Barack Obama was that he was a pathological narcissist. While I stand by that assessment, as we get deeper into his first term, we find there are other contributing factors that will, when history is finally and honestly written, determine his presidency to have been even worse than both Woodrow Wilson and Jimmy Carter.