Horse first. Then Cart

Speaking at a Democratic fundraiser, where families paid $15,000 to get a picture with him, Obama defended his economic record and noted that problems in Europe were affecting the United States.

"We do have a serious problem in terms of debt and deficit, and much of it I inherited," Obama said. The financial crisis, he said, made the problem worse.

As Jeff G. at ProteinWisdom noted recently, he also inherited a 5.9% unemployment rate and a AAA credit rating…

Still, seems to me that the thinking is backward.  We have a financial crisis that has made the debt and deficit worse.

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