Michael Goodwin | Obama taking America down same path as Greece

The list of Republican fatal flaws goes on, never mind that Mitt Romney fell only about 360,000 votes short in the four swing states of Florida, Ohio, Virginia and New Hampshire combined.

Had he won their 64 electoral votes, we’d be hailing him as brilliant, and dissecting the downfall of Barack Obama. But, in politics and football, winning is everything, so the demolition derby of the GOP is inevitable.

But the expiration date has arrived, so let’s move on to an alternative question: How long can the business model of the Democratic Party last?

The short answer is, not very. Dems are doomed by their success at creating ever bigger government with ever more handouts and entitlements. All the giving can’t go on and the Obama binge has created a crisis.

Deficits exceeded $1 trillion in each year of his first term, and his combined debt is a staggering $5 trillion. It brings the nation’s total to $16 trillion, and the possibility of default already has caused one rating downgrade.

And there is no end to the spending spree. Obama’s last budget, although chock full of rosy scenarios, still projected the debt would grow by $6.7 trillion over 10 years.


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