Saturday, August 6, 2011

Obama is winning his war against America

Standard & Poor's Downgrades U.S. Credit Rating to AA+

Not only were the majority of the American not fooled by the dog and pony show that Washington put on during the debt ceiling debate, neither was the S&P.

S&P downgraded the U.S credit rating to AA+ in what has been clearest message yet to Washington that we need to be serious about this mess, and do something positive to address America's debt problems.

The White House response has been predictable. They blame the messenger, S&P, for miscalculating 2 trillion dollars in debt. The S&P said it discussed the issue with the Treasury, but that it did not change their decision.

No one was convinced when Congress and the White House said that their agreement over a debt ceiling increase will include $1 trillion in spending cuts over the next decade.

Most of it is backloaded, and is another attempt to kick the can down the road. One of the caveats Obama wanted in this deal was to raise the limit until after the 2012 elections. His concern is more with getting re-elected, and not having to make any potentially damaging political decisions until after his re-election.

Boehner is in serious trouble of losing his leadership role, seventy four percent of the House members polled in 3,500 chapters said it is time to look at new leadership, and want somebody in the House who is more fiscally responsible.

The republicans are right to insist on cuts before tax increases. The game is to promise future cuts, but the cuts never happen, and the taxes are forever, but they didn't go nearly far enough.

Mark Meckler, 49, the co-founder of the Tea Party Patriots in the United States, has said we have compromised our way to disaster
The compromises that we have witnessed on debt have taken our country to the brink of financial collapse. Currently, the American government is spending 44 cents of each dollar on interest payments. We have compromised our way into disaster. None of the budget plans proposed have real cuts in them -- only promises to cut. The reality is that legally one Congress cannot bind the future Congress to cut, so these promises are actually a lie. We need real and immediate cuts.

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