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. – John Podhoretz

The thing is, Obama is right that it would be a calamity for the government to default on its debt by not meeting its obligations. Such a thing has never happened and cant be allowed to happen. – John Podhoretz