Skip to comments.Memes, Memes, Memes – Debt And The Battle For America’s Future
Posted on 07/26/2011 1:24:29 PM PDT by gjmerits
Rating agencies state they may lower Americas credit rating as soon as this Friday.
Read it again and let that sink in.
The reason provided has nothing to do with the debt ceiling. Nothing at all. However, it does have everything to do with one of those two words. That word is debt. Even if a debt ceiling increase passed today or two weeks ago if it did not include a long-term plan to restructure the countrys debt, rating agencies would lower Americas credit rating regardless.
This must be spread far and wide. The downgrade that is coming has nothing to do with the failure to raise the debt ceiling. It has everything to do with the amount of debt. Those who are going to downgrade us have said as much. Therefore any downgrade is not the fault of the Republicans for failure to give Obama what he wants, but rather rests squarely on the shoulders of Obama and the liberals for increasing debt at an astronomical pace since the President took office. Bailouts, quantitative easing, printing money nothing has worked. While true that shrinking government is a beast we have yet to meet even under Reagan government grew the recent crises brings into sharp contrast the complete failure of the Statist culture, a blame shared by both parties.
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