Mama Bin Cranky

Screaming on the Inside

US Downgraded

Posted by madjillmom on August 6, 2011

Last week wasn’t bad enough, so Standard and Poors downgraded America’s AAA rating.  After rumors bubbled up all day, they announcement came early evening, guaranteeing another horrible week in the market.  The compromise to raise the debt ceiling was too little and showed little hard evidence that the country understands and is willing to do what is needed to get our fiscal house in order.

I sure this will be spun as the fault of the Republicans and most especially the Tea Party members.  If the Tea Party Republicans had their way, the cuts would have been much greater, probably saving the US from the downgrading.  Remember, the Republicans only control the house.  The Dems control the Senate and the Presidency.  They wanted less cuts and tax increases or revenues (as they now like to call them).

Obama and Geitner promised no downgrade.  No that it has happened, the claim S & P calculations are incorrect.  Great response.  When will the Dem’s take the responsibility for massive spending and greater and greater debt on programs that do not work.

Everyone should get back to DC, including Obama (scheduled for a “joe six-bus” tour to counterbalance his trip to Martha’s Vineyard).  Appoint the members for the new super congressional committee, go straight to the Presidential Debt Commission report (totally ignored by the President), and start cutting for real right now.  Not next month, not next year, but now.

Quit Whining and Starve the Beast!

 

 

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