Obama’s massive borrowing looks like sub-prime loan scandal all over again

Have you ever noticed the strange parallels between the last year’s sub-prime loan fiasco and this year’s Obama spending fiasco?

In the subprime fiasco, people borrowed money to live far beyond their means. In the Obama spending fiasco, the government’s borrowing money to live far beyond its means.

In the subprime fiasco, everyone in charge knew the borrowers would never be able to repay their debts. In Obama’s spending fiasco, everyone in charge knows the government will never be able to repay its debts.

In the subprime fiasco, Barney Frank and Chris Dodd assured everyone that everything was ok. In Obama’s spending fiasco, Barney Frank and Chris Dodd are assuring everyone that everything will be ok.

In the subprime fiasco, anyone who raised an objection was called a racist. In Obama’s deficit spending fiasco, anyone who raises an objection is called a racist.

In the end, there really is only one difference between these two fiascos. This one has a lot more zeroes.

Tagged as: Barney Frank, borrowing, budget, Chris Dodd, deficit, nding, subprime

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