Saturday, August 6, 2011
To the surprise of nobody except the entire Obama adminstration, the credit rating of the United States was downgraded yesterday for the first time in history.
Standard & Poor's issued a harshly worded criticism of Washington politics, saying that our (ahem) leaders are "less stable, less effective, and less predictable" than at any time in the past. Moreover, after months of watching Barack Obama and Harry Reid swear to veto anything which actually reduced our debts, Standard & Poors opined that they don't think the current Washington establishment is likely to achieve more savings in the future. To put it mildly.
Barack Obama is already trying to pin the blame on others (including, especially, the American people) but it's hard to imagine how he can make it stick. During the two years the Democrats enjoyed a supermajority, they not only didn't address deficit-reduction, they completely ignored writing budgets and went on an astronomical spending spree.
Subsequently, Republican fiscal plans were offered which would have prevented the downgrade - including the Ryan plan, and "Cut, Cap, and Balance." But Obama and his happy little band of socialists made sure that those plans never had a chance to get voted on.
So Obama drove through a money-borrowing "deal" which added another $7 trillion to the deficit and guaranteed that our credit rating would get trashed...and then excused himself for two huge fundraisers in Chicago, and a gala Whitehouse birthday party where he lead drunken revelers in a conga line, and made rabbit ears above Stevie Wonder's head in official photographs.
Now the stock market is in the toilet, the United States is in dangerous and uncharted financial waters, and every dollar we borrow (and we borrow a LOT) is going to cost us more because our leaders have been proven irresponsible and untrustworthy. We have met the enemy...and it is the Obamaconomy.
So, Birthday Boy - how's that Hope and Changed credit rating working out for you...?