Showing posts from June 16, 2010

Obama government sinking in two major quagmires

Business Times - 17 Jun 2010

Obama government sinking in two major quagmires

President is in danger of losing balance and falling over the Gulf oil spill and Afghan war


US PRESIDENT Barack Obama addressed the nation from the White House Oval Office yesterday - the dramatic backdrop has been used by other presidents to address the American people in times of major crises - to outline his ambitious plans for cleaning up the oil spill in the Gulf of Mexico.

This huge environment catastrophe is threatening to become 'Obama's Katrina', a political disaster and an economic mess that could jeopardise the electoral future of the Democratic president and his party.

Accusing BP plc of 'recklessness', Mr Obama pledged to press the oil company to compensate the victims of the environmental disaster. 'We will make BP pay,' he said. And he announced that he wanted BP to finance a long-term Gulf Coast Restoration Plan that would rely o…