Was Buffet, Trump & Wynn Be Wrong On the Debt Ceiling?
No, they aren’t wrong and more importantly Americans have just been gouged again by Obama, Republicans and Democrats. When John Boehner reassured us that Republicans got just about 95% of what they asked for, we should have smelled the decaying “rat.”
The debt ceiling fiasco was nothing more than an ex-rated movie, Obama the director and Republicans and Democrats the actors. Spending remains excessive and the National Deficit is growing at the rate of about 4 million per day – Obama, the House & Senate need to get their fannies back to the White House put a freeze on spending and ruthlessly implement immediate cuts that will reduce our National Deficit.
Jim Dement tried to tell us that the debt ceiling bill isn’t actually cutting our National Deficit and after deducting the few trillion that we were promised, our debt will grow about 7 to 9 trillion over the next 10 years. How can we do this to our children and grandchildren – why did we buy Obama, Republicans and Democrats’ political rhetoric?
Politifact verified Jim Dement’s estimate saying 7 trillion was on the low side. Put the url below in your browser and you soon realize that they played the “gotcha game,” against Americans and won again.
Since there isn’t any transparency in our White House, Americans will never know what the existing spending commitments are or how much Obama will increase our obligations between now and 2013. But, there are three very wise businessmen who forewarned us about the debt ceiling crisis.
Warren Buffet didn’t just say kick the debt ceiling down the road, he said the US should do away with the debt ceiling. Moody’s Investors Service agreed with Warren. Warren told NBC News that it merely slows down a process creating undue problems by diverting people’s energy. Warren says the debt ceiling doesn’t make sense.
Steve Wynn has mentioned the way Obama has mislead Americans about the consequences of not raising the debt ceiling. Steve was angry over the debt ceiling crisis and pretty much said our economy can’t improve until Obama is gone!
Donald Trump was emphatic about the debt ceiling issue and basically said balance the budget and don’t even think about raising the debt ceiling. Donald inferred that DEMS were using their usual scare tactics and he encouraged Republicans to stand strong and not give in to the Obama rhetoric.
William Hickey, chief executive of Sealed Air, Executives at companies ranging from Bristol-Myers Squibb, a spokeswoman for AAR American Association of Railroads(Patty Reilly), Henry Harteveldt, airline and travel analyst at Forrester Research all reported consumer confidence sliding rapidly leaving companies pretty much in a state of limbo.
Did raising the debt ceiling 2.4 trillion without immediate cuts on our National Deficit restore consumer confidence or did consumers tighten their belts even more? Consumer confidence remains at a very low ebb and businesses are starting to lay off employees.
Businesses aren’t elated about the debt ceiling increase. Moody and S&P aren’t ecstatic or jumping in joy, because the debt ceiling increase represents more spending, no immediate deficit cuts and nothing has been accomplished.
So why the big fight over the debt ceiling crisis, could it be the 2.4 trillion represents money that our Government has already spent? Or has the 2.4 trillion been appropriated to the Obama Redistribution Fund?
Here’s what Americans do know: (1) Our National Deficit is climbing at an accelerated rate, (2) Our Credit rating is at risk once again, and (3) Obama, Republicans and Democrats have placed our Nation on auto pilot while they play and we pay.
May God Bless America