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By the time Obama came into office, Washington had already agreed over a period of a few weeks to a $700 billion government infusion into the world banking system. Nothing of the sort had ever been done before, and it was done spit spot with very little national debate.

Let's face it, the Obama administration was handed a pretty poor deal from the previous administration.

Obama's primary constituency was financial institutions. They were the core of the funding for his campaign. They expect to be paid back. And they were. They were paid back by coming out richer and more powerful than they were before the crisis that they created.

Obama came in really wanting to change things, but he hit a wall of corporate money, oil and coal money: when he tried to pass the Cap and Trade system of pharmaceutical money, when he tried to pass the Obamacare - which, of course, then got watered down into a much less effective, much less economical, program.

At least Obama was half-way honest about how much he was going to spend on health care. He had it at $600 billion. And the real number... is $1.2 trillion.

I mean, the Obama position has been, 'We think government ought to be spending this money, not the people who earn it.'

The Obama administration, seemingly without any concern or worry, funneled money around U.S. law through foreign central banks to provide a state sponsor of terrorism with $400 million in blood money for American hostages.

When Mr. Obama entered office, he said all the right things about getting Washington spending under control. He even promised to cut the deficit in half by the end of his first term. Obviously, that didn't happen.

President Obama's call for nearly a half-trillion dollars in more government stimulus when America has more than $14 trillion in debt is guided by his mistaken belief that we can spend our way to prosperity.

During the campaign for re-election, Barack Obama at least made vague references to a willingness to accept $3 trillion of reduced spending in exchange for a $1 trillion dollar tax increase.