Mama Bin Cranky

Screaming on the Inside

Archive for August, 2011

Tea Party Downgrade

Posted by madjillmom on August 9, 2011

The Democrat’s new mantra is that the Tea Party is responsible for the S & P downgrade.  The downgrade was issued because the rate of spending at all levels of government exceeds the rate of growth in the economy. If the Tea Party Caucus had gotten what they wanted, a downgrade would have been much less likely.  The Tea Party Caucus wanted more real cuts in spending, less of a credit extension, and no new taxes.

What would have happened if the President had gotten his first (of ever-changing) wishes – a clean debt ceiling vote?  That would have been a definite downgrade because there would have been no cuts (even the phantom ones that are a part of anything out of DC).  Then Obama wanted a big deal or the so-called balance approach.  There might have been a few more cuts, but Obama wanted  1.2 new taxes for every 1.6 in cuts.  Any taxes would rock the anemic recovery so there would  be a downgrade based on another recession.

Please remember, because there are not supposed to be earmarks in bills anymore, the traditional way to get important legislation through the House and Senate is not available anymore.  Another good thing that doesn’t run up expenses.  However, this makes it much harder to pass legislation.

Posted in Pres. Barack Obama, Republican Dissent, The Economy | Tagged: , | Leave a Comment »

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!

 

 

Posted in Pres. Barack Obama, Tax Reform, The Economy | Tagged: | Leave a Comment »

 
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