Sunday, August 7, 2011

Another National Debt comment.

It seems that some people are surprised by S&P's downgrading of the US debt rating. Words like "It came so quickly" etc. The fact is that S&P has been warning the US for at least the last 6 years! But we took no notice at all.

Now think for a minute here, would YOU loan money to someone who acted like Uncle Sam? Just think about the antics of these clowns in Congress over the last few weeks and months. You have an outright refusal by one side - The Republicans - to negotiate at all. You have dozens of supposedly intelligent Congressmen, and women, saying "No problem, let the country reneg on its debts."! If that is not scary to an investor I don't know what is. Here we have a bunch of men and women who openly advocate not paying the countries debt. These are people voted in to help the country, and instead they are prepared to destroy the countries rating in the eyes of the whole world. Quite frankly I am surprised that the rating was not dropped more. After all there is a distinct possibility that more of these Tea Baggers could get in and have their way even more than they managed to do this time. They could say, "To hell with our bond rating or any other rating, we are not going to pay anyone back." This could create a problem! These simpletons think that it is more important to avoid any new taxes, now or ever, than for the USA to pay its bills.

I would like to point out here that taxes in the US are lower now, under Obama, than they have been at any time, under any President, for at least the last 60 years! That is for individuals, especially the wealthiest, and for Corporations. Yes he HAS lowered taxes several times since he came into office - in spite of what some would have you believe.

President Obama, a Democrat, or so he says, you could have fooled me, makes concession after concession to the Republicans, who make none at all, until finally he gives in completely and accedes to all of the Republicans demands. To John Boehner's "I got 98% of everything I asked for." I would say - what was the 2% he didn't get? Did he ask Obama to bring him a cup of coffee? And Obabma forgot - or didn't put enough sugar in it?

There have been rumors flying around that Obama is a secret Kenyan, or a secret Muslim, or a secret Socialist, but it turns out that he is in fact a secret Republican!

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