S&P delivers a hammer blow to the Obama presidency and graciously tells America — “It’s time for you to be responsible for yourselves and embrace what made you a great nation.”
What a fun day the markets have lined up for Monday. I don’t expect it to be pretty but predicting what markets will do? Isaac Newton said it best: “I can calculate the motion of heavenly bodies but not the madness of people.”
It’s The Spending, Stupid
It has also been very comical watching the liberals and the MSM in quite the frantic spin-mode trying to pin this on the GOP and the Tea Party. Their spin reeks a desperation and a setting in of reality. Barring some miracle, Barack Obama will not be re-elected President. The belief was that Barack Obama would be a transcendent type of president. They were prophetically right, though not in the reasons one may have envisioned. To be the first president of the United States to be in office when our credit rating is downgraded is a political atomic bomb. Of course, the White House has responded by challenging the credibility of S&P and smearing them. This shouldn’t surprise us as this is typical for this administration. The days of stimulating the economy through erroneous Keynesian/New Deal economic policies (a.k.a. jump starting by increased government spending) have come to an end as well. The Democrats have known this for at least a couple of years. They couldn’t and will not present any budget or plan that puts our country back on track. Why?
They Are The Party of Ever Increasing Spending to Create Government Jobs, Always Resulting in a Higher Tax Burden Upon The Private Sector and All The People of This Country
This is the fundamental, economic folly of socialism. This is why it never works. Margaret Thatcher as you all know put it quite eloquently “The problem with socialism is that you eventually run out of other people’s money. “ Any collective government fueled by intellectual elistist politicians both in the Democratic and Republican party, that continuously grows government because they think they know what is best for the country, becomes too big in the end and the government explodes, ruining our nation’s finances and ending this country’s constitutional form of government. There are many whom believe that this is intentional, to install a new form of government in America. The conclusion that must be reached is the political establishment in Washington is completely incompetent mixed with a high concentration of arrogance, or is diabolical to such a corrupt degree that would be appalling to most Americans.
The Tools of The Democratic Party of Today: Envy, Anger, Bitterness, Division. These are used to make people dependent on the government, rather than themselves.
What saddens me most about how far this nation has fallen is the fact that people have forgotten how rich they already are. We have freedom, we can worship any way we please, we can innovate, work hard and reap the fruits of our labors and ideas. We have a great country! We have allowed the definition of “rich” to be defined as how much money we have in our bank accounts or the physical assets we have. What ever happened to working hard, being grateful and content with whatever wages your labor pays you? If you’re not happy with what you’re being paid, go work for a competitor or start your own business to compete with your former employer. Don’t go into a union. Unions are nothing more than institutions founded by a rebellious, discontent few whom empower themselves by embittering fellow workers and in the end, taking a portion of those wages to fund big government politicians. Unions and Democratic politicians are married at the hip for this reason. Unions tax their workers through union dues. Democratic politicians funded by unions tax citizens across this country but even worse, tax those dues-paying workers in the union again. What a double taxation racket they have set up. The workers in the end are stuck crying out for more because their burden is always increased. Democrats and the leadership in unions are destructive to free enterprise. They will embitter any person possible who will listen. They are puppet masters who will use any means necessary to shake the money out of people’s pockets for their own selfish ambitions and to grow government. The one lesson you should file in your memory is this: Discontent and bitterness are the robbers of freedom.
The Road Back: Working Hard, Being Responsible for Ourselves, Making Government Smaller, Eliminating Job Killing Regulatory Agencies and Regulations
With a big hat tip to BigGator5, I completely agree that the S&P was quite gracious in their downgrade. The downgrade in all reality should have been more severe. S&P didn’t yield to the Chicago-style pressure that was coming from the White House. Now S&P does have its black marks recently, most notably when the mortgage meltdown happened, but they called it as they saw it. Our fiscal trajectory is careening toward an abyss. Corrective action will entail reforming entitlements, cutting down federal agencies, programs, and everything else that composes the federal government. Tom Coburn put out a plan, “Back in Black” that really tackles this. The tax code will need to be revamped and simplified. A lot of deductions will have to go away. The tax rates should not be changed however but the tax base will need to be expanded to include all the people of this country. Government budgets are impossible to balance when only half the people in this country pay any taxes at all. The capital gains tax should be eliminated so individuals can invest in companies, raising their capital so they will hire. Regulatory agencies like the EPA and others will need to be defunded almost entirely and then new legislation will need to be written post 2012 to kill hindering job creation regulation, most notably Obamacare and the Dodd-Frank Act. But above all else: Everybody in this country will need to contribute by means of hard work and paying their taxes, not by a inept, money squandering, self-serving government that forces contribution in the form of higher taxes. Personal and individual responsibility, rugged individualism with a significant reduction in government will turn this country around.
The Audacity of A Government With a History of Failure, Asking For Higher Taxes
This one just bewilders me. It is incredible to me that Obama and congressional Democrats continue to push for higher taxes in the name of social justice (there are those tools they use again!) I’ll never understand this. Their record is one completely of reckless spending and terribly managing this country’s finances. And they want more money now because they promise they’ll correct their enormous screw-ups? No thank you! If this is their record, it is time to fire them in 2012. Higher taxes do not create jobs, they stifle job creation. If government cannot manage themselves, then government must be cut and you do that by cutting government spending.
Finally, to liberals and the MSM, here is what the Tea Party is
I hope Brian Williams and Andrea Mitchell of NBC eventually figure this out. I am going to make an educated guess at this. But apparently what the Tea Party stands for is a huge portion of Americans who are fed up with the political establishment in Washington whose only concern is to get re-elected by means of pork and other government expanding legislation, flipping the cost and burden to the people of this country and future American generations. It is being fed up with politicians in Washington whose are only concerned with getting re-elected rather than being a government for the people that aims to serve the people and solve this nation’s problems. It is being fed up with politicians in Washington who sell out their convictions to lobbyists or their political party’s kingmakers so their re-election campaigns can be funded. That is why those 22 brave Tea Party congressmen had no concern in getting re-elected and insisted on getting a balanced budget amendment into an already bad piece of compromise legislation. We believe that our government is failing us by not doing their duty in solving this nation’s problems. We are only concerned with cleaning up the mess that the political establishment has created for this country and making the hard decisions to get this country back on track to being great.