Despite some fairly grandiose undertakings, including the moonshot, JFK was generally prudent with the pursestrings, and economically savvy. For example, he cut taxes to stimulate the economy, and was rewarded with increased overall revenues, much as Ronald Reagan did two decades later.
President Obama, by contrast, appears to be economically clueless, and is running the economy into the ground. Economic forecaster Gerald Celente tells a reporter in this video that the Obama national debt has now metastasized such that it will "never" be paid off, and that a very serious depression is in the offing as the capital markets react to that.
Gerald Celente : The Debt Is Never Going to be Paid Off, Raising the Debt Ceiling is Just a Stimulus Cover-up
Gerald Celente on Russia Today to speak about the debt problem
The House voted to increase to the legal debt limit to $14.3 trillion. Another way of describing it is that the House voted to allow the government to go $1.9 trillion deeper in debt - or about $6,000 more for every U.S. resident. The Senate approved a similar measure last week and the bill will now go to President Barack Obama and be signed into law. If Congress doesn't hike the debt ceiling, the U.S. would be unable pay Social Security and Medicare payments.
Trends Expert Gerald Celente is regarded as one of the foremost trend predictors in the world. This author of Trends 2000 and Trend Tracking, and publisher of The Trends Journal, is frequently a guest on television news and talk show programs.