OBAMA REFUSES TO TAKE ANY BLAME FOR LOSING AAA

In a typical arrogant and meandering statement Barack Obama refused to take any blame for the loss of our AAA credit rating from Standard and Poors. In fact he talked as if in some sort of denial stating The United States will, "always be a AAA," country. While it may be a nice sentiment it is a denial of reality and the facts of our economy. The 400 point drop during Obama's speech shows investors understood he had no interest in making cuts. He claimed this downgrade was a signal against gridlock in Washington and not a result of our massive debt, which in actuality IS the reason for the downgrade.

Another sign that he is not interested in heeding the true signal that decreasing our debt and spending is necessary to regain our AAA rating, Obama stated that the pittance of cuts that were mostly created by number maneuvering which were approved in the bill which raised the debt ceiling were about all the cuts that could be made. Indicating that cutting spending is not part of his agenda but raising taxes, the central part of his so called, "balanced approach," is.

Obama and his administration are more willing to blame the messenger and the Tea Party for this first in history downgrade of American credit than accepting responsibility as stewards of our government for out of control spending, uncontrollable debt and unsustainable deficits. Once again Obama's ONLY answer is to place a greater burden on the backs of American business and American citizens by increasing taxes to gain more revenue for continued spending which WILL NOT attack any debt or decrease ANY deficit.

When Washington has more money they DO NOT pay debt nor do they use it as a means to decrease spending but look for more ways to expand government and increase spending. Raising taxes does NOT tackle any debt since it will ONLY be used for new spending, new programs, new pork and new government. None of this will begin decreasing the debt.

The ONLY answer to decreasing debt in to cut spending and use current revenues that will be saved by immediate and deep spending cuts to begin paying off the debt. We do not have a lack of revenue problem we have a spending problem. Our revenue is at the highest level in our Nations history an average on nearly $200 billion dollars each month.

With $2 trillion in revenues during the year we are spending over $3 trillion to keep an over bearing government at its current size and scope. Raising additional revenue won't solve any problem except satisfying Washington's need to fulfill its greed to continue spending like drunken sailors. The ONLY way to get our fiscal house in order is to cut current spending below current revenue and use the saving to begin paying off the debt.

Yes it requires hard decisions. Yes it means every aspect of government must take a hit but unless the spending binge ends and our government is downsized our country faces a future that brings possible bankruptcy and the further downgrading of American credit which affects all aspects of our economy. The huge crash of the stock market as a result of Fridays downgrade is only the beginning of the real affects which will ripple throughout the economy.

Tackling our debt/deficit problem is going to take serious measures and serious cutting, both of which are NOT on the agenda nor of any interest to Barack Obama and most in Congress. In order for serious measures to take place we the people must rise and remove those who are obviously NOT interested in making the tough decisions. Replacing the whining child in The White House and the greedy self centered politicians in Congress with fiscal conservatives who are willing to make the cuts, end deficit spending and begin paying off our debt.

Ken Taylor