Monday, August 1, 2011
Having voted for Barack Obama in the 2008 presidential election and witnessing, in what was for those of my generation, his improbable victory as the nation's first African-American chief executive, I am beginning to feel a sense of buyer's remorse with each decision the president makes, the debt ceiling deal being the latest case in point. Despite the lofty rhetoric, Obama falls painfully short when it comes to bold, decisive action. At the outset of this manufactured crisis, Obama insisted on a balanced approach of budget cuts and increased taxes on corporations and the rich. What we ended up with is a deal that focuses on spending cuts but says nothing about the revenue side of the equation. So much for the balanced approach and shared sacrifice.