By Rand Paul
Obama acts as though we no longer have a Constitution
European shares traded lower early on Friday on waning hopes that U.S. President Barack Obama and key lawmakers would manage to reach an 11th-hour budget compromise.
"Even if it falls into the fiscal cliff, you will only reduce the deficit by about $100 billion," said Francis Lun, managing director of Lyncean Holdings in Hong Kong, referring to the U.S. economy. "In Chinese terms, it's like trying to douse a fire with a cup of water. They should do what Europe has done and try to impose austerity."
