AMERICAS DOWNGRADE AND WHY WE THE PEOPLE MUST ACT - THE SUNDAY COMMENTARY
The people, not the politicians, but the people of The United States and the world were taken aback by the downgrading of the AAA credit rating of our beloved Nation. Since 1917 when this rating was first established we have held the highest rating without threat of that diminishing. The United States could always be counted on as a safe investment risk and the people along with the world rested easier knowing that.
Now we have been downgraded to a AA-plus rating and the first implications of that have already begun as foreign markets are seeing US interests losing several points in their values with no immediate end in sight to the loss. This is just the first of many trickle down reactions to our country losing its AAA rating.
The value of anything related to our country whether goods, stocks, etc. will drop affecting prices worldwide but especially here at home. Over the next several days and weeks we can anticipate interest rates climbing making loans harder to acquire which will have the immediate affect of further damaging our housing market which has still not recovered from the crash of 2008.
Yet those in Washington are either ignoring this true crisis or speaking of it in a rather nonchalant way as if this is just another part of business as usual when dealing with a nations economy. There has been NO reaction from the child in the Oval Office whose financial exploits are greatly the cause of this economic disaster. I am sure he has better things to do like golf, than concern himself with the pending financial downfall of our nation.
My hear ached when I saw the headlines that Standard and Poors had downgraded The United States. Especially in knowing that this was preventable had those who we have hired to serve us actually done their job. Instead they not only failed us and the country but in doing so showed they have NO concern over the nations well being but in only getting their greedy paws on more money to spend.
Standard and Poors had been warning Obama and Congress for weeks that this was coming and signaled what would be necessary to prevent it and it was NOT raising the debt ceiling. The warning was that a minimum of $4 TRILLION dollars would need to immediately be cut from our nearly $15 trillion dollar debt and then further decrease to come to lower the debt with real spending cuts.
Obama and Congress ignored the warning and concentrated ONLY on increasing the debt ceiling with NO real cuts. Oh, they brag that they have created a commission that will tell Congress where to cut the pittance they legislated in the debacle signed by Obama that raised the debt ceiling, but none of the cuts are real or immediate and Standard and Poors lowered our rating as they realized NOTHING was being done to reduce our debt.
In fact this debacle raises our debt nearly $1 trillion dollars before this year is out and sets a pace to raise it another $10 trillion over the same time they are claiming it will cut about $1.5 trillion over ten years. HOW STUPID DO THEY THINK WE ARE? Even John Boehner when asked about the lack of cuts just responded, "that's how things work in Washington."
Well if THAT'S how things work in Washington then they have ignored the mandate we sent them in 2010 and it is time for an uprising of the people the likes of which have not been seen before in this country. We are their authority and it is we who must act to save our country since they obviously will not.
The left has even tried to invoke President Reagan by using the times he raised the debt ceiling as a way of justifying raising it without deep cuts to counter balance and actually begin decreasing the debt. What they neglect to tell is the whole truth. Reagan allowed the debt ceiling to be raised to temporarily allow for additional monies until his tax cuts could bring in the massive amount of new revenue they did AND with the promise that Congress would cut spending along with receiving the additional revenues resulting from the increased spending of Americans who had more money in their pockets. Congress didn't fulfill their end of the deal and the debt grew.
I had thought that the major concern we would have as American voters in 2012 would be to get Obama out of office and eliminate the Reid controlled majority in the Senate. But with this debacle having taken place and the obvious lack of concern over our downgrade and debt problem by most of Congress and Obama, the time has come for Americans to completely clean house and send a new slate of strong conservative lawmakers and a President to DC.
There are only a handful of real representatives who are angered by this and they will continue the fight but they cannot do it without the will of the people and our vote to get them some help in DC to reverse this madness, get our AAA rating back and set our country on the path of fiscal responsibility and Constitutional principles restoring our Republic to the vision the Founders intended. We must stand together as Americans and MAKE this happen in 2012 for our nations survival and future generations who must have an American with the same opportunities that we and past generations have had.
Ken Taylor
Now we have been downgraded to a AA-plus rating and the first implications of that have already begun as foreign markets are seeing US interests losing several points in their values with no immediate end in sight to the loss. This is just the first of many trickle down reactions to our country losing its AAA rating.
The value of anything related to our country whether goods, stocks, etc. will drop affecting prices worldwide but especially here at home. Over the next several days and weeks we can anticipate interest rates climbing making loans harder to acquire which will have the immediate affect of further damaging our housing market which has still not recovered from the crash of 2008.
Yet those in Washington are either ignoring this true crisis or speaking of it in a rather nonchalant way as if this is just another part of business as usual when dealing with a nations economy. There has been NO reaction from the child in the Oval Office whose financial exploits are greatly the cause of this economic disaster. I am sure he has better things to do like golf, than concern himself with the pending financial downfall of our nation.
My hear ached when I saw the headlines that Standard and Poors had downgraded The United States. Especially in knowing that this was preventable had those who we have hired to serve us actually done their job. Instead they not only failed us and the country but in doing so showed they have NO concern over the nations well being but in only getting their greedy paws on more money to spend.
Standard and Poors had been warning Obama and Congress for weeks that this was coming and signaled what would be necessary to prevent it and it was NOT raising the debt ceiling. The warning was that a minimum of $4 TRILLION dollars would need to immediately be cut from our nearly $15 trillion dollar debt and then further decrease to come to lower the debt with real spending cuts.
Obama and Congress ignored the warning and concentrated ONLY on increasing the debt ceiling with NO real cuts. Oh, they brag that they have created a commission that will tell Congress where to cut the pittance they legislated in the debacle signed by Obama that raised the debt ceiling, but none of the cuts are real or immediate and Standard and Poors lowered our rating as they realized NOTHING was being done to reduce our debt.
In fact this debacle raises our debt nearly $1 trillion dollars before this year is out and sets a pace to raise it another $10 trillion over the same time they are claiming it will cut about $1.5 trillion over ten years. HOW STUPID DO THEY THINK WE ARE? Even John Boehner when asked about the lack of cuts just responded, "that's how things work in Washington."
Well if THAT'S how things work in Washington then they have ignored the mandate we sent them in 2010 and it is time for an uprising of the people the likes of which have not been seen before in this country. We are their authority and it is we who must act to save our country since they obviously will not.
The left has even tried to invoke President Reagan by using the times he raised the debt ceiling as a way of justifying raising it without deep cuts to counter balance and actually begin decreasing the debt. What they neglect to tell is the whole truth. Reagan allowed the debt ceiling to be raised to temporarily allow for additional monies until his tax cuts could bring in the massive amount of new revenue they did AND with the promise that Congress would cut spending along with receiving the additional revenues resulting from the increased spending of Americans who had more money in their pockets. Congress didn't fulfill their end of the deal and the debt grew.
I had thought that the major concern we would have as American voters in 2012 would be to get Obama out of office and eliminate the Reid controlled majority in the Senate. But with this debacle having taken place and the obvious lack of concern over our downgrade and debt problem by most of Congress and Obama, the time has come for Americans to completely clean house and send a new slate of strong conservative lawmakers and a President to DC.
There are only a handful of real representatives who are angered by this and they will continue the fight but they cannot do it without the will of the people and our vote to get them some help in DC to reverse this madness, get our AAA rating back and set our country on the path of fiscal responsibility and Constitutional principles restoring our Republic to the vision the Founders intended. We must stand together as Americans and MAKE this happen in 2012 for our nations survival and future generations who must have an American with the same opportunities that we and past generations have had.
Ken Taylor
posted by The Liberal Lie The Conservative Truth | 1:34 PM
2 Comments:
You say:
"Standard and Poors had been warning Obama and Congress for weeks that this was coming and signaled what would be necessary to prevent it and it was NOT raising the debt ceiling. The warning was that a minimum of $4 TRILLION dollars would need to immediately be cut from our nearly $15 trillion dollar debt and then further decrease to come to lower the debt with real spending cuts."
The budget (or deficit) can be cut, but the debt must be reduced by actually paying back our creditors. This must happen above the level of cutting the budget to $0 deficit; only then can we begin to pay back against our debt, even if only by $1. Your statements above don't follow this principle, and therefore don't make sense.
To quote the S&P report ratioanle:
The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently.
It should be obvious what brinksmanship is a reference to; The GOP, driven by the blind obedience to the ridiculous Tea Party position that default was an option, and the absolute inability to consider taxation changes is what this is all about. President Obama was clearly discussing a $4 Trillion reduction package, with 1/4 revenue and 3/4 budget cuts. The GOP had their chance to step up, but played politics instead. For you to avoid the obvious games they were playing is irrational.
If you can't face the reality of events, then your position and subsequent comments are only worthy of being ignored as the rantings of one who is unable to think critically.
BTW, it would be impossible to begin to pay back the debt without increases in revenue. The is no math that one could suggest that the budget could be balanced, and some debt re-payed with our current tax code. If you think otherwise, try and show your math as to how this could happen.
Your play, sir.
FactYouAll (login failed)
p.s. - your precious hero, President Reagan understood the nature of these ideas; he raised the debt ceiling time and time again to cover his unfortunate, but reckless budgeting. And both Dems and Reps also understood and simply voted on the increase with no crisis; no media circus. Makes you kind of wonder what is different this time; oh yeah; the GOP is clinically and insanely in a criminal state of hate of President Obama, and they don't care what happens to Americans as long as Obama is brought down. The lack of any Jobs bill since their rise in the 2010 election shows they don't care about us (both you and I are unimportant).
ninest123 08.03
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