Earlier this week, we highlighted Jack and Suzy Welch?s take on the Obama administration?s long-term budget impact.
Today we turn our attention to George Will?s assessment in Newsweek:
The trajectory of Obama’s presidency might have been determined by what he did in his first 100 days. His budget calls for doubling the national debt in five years and almost tripling it in 10. If the necessary government borrowing soon causes a surge in long-term interest rates, the result will be the 1970s redux?inflation and stagnation. If so, the 44th president will be remembered not as the second iteration of the 32nd (Franklin Roosevelt) but of the 39th (Jimmy Carter).
