Posted on 08/05/2011 6:16:35 PM PDT by Iam1ru1-2
“Well, so is our credibility is shot as well.”
You said it. We are being played for higher taxes on the “rich”. Socialist definition of “rich”: Anybody with a job.
This on the day I get my annual property value notice. Down another 24 thousand. From $254,000 to the new $230,000.
The high water mark in 2007 we were sitting at $325,000.
Good thing we aren’t planning to sale.
My sentiments too.
That is the original effect. From it a come the necessity of truly reducing real spending in order to keep from adding to the Debt at a much higher rate. If we continue to spend at the same rate with higher interest rates then the rates will go yet higher as the "rating" is downgraded further. It simply is the next leg up on Collapse because the political class WILL NOT rein in real spending. No departments will be eliminated, etc. If we do cut spending sufficient that we seem to be paying off a tiny corner of the Debt it will make no difference in the not very long run because all those Departments and Agencies and Bureaus will still be there. It is like Fat cells in your body. As you stuff yourself unto obesity your body creates additional fat cells. As you seriously diet and exercise and lose weight those fat cells get smaller and you appear to be thinner but you have all those extra fat cells and you can't get rid of them without Surgery. As soon as you relax your diet-and-exercise regimen those fat cells grow back and more new ones are created to ride along with them.
Or McRomney.
We are very vunerable right now. Our enemies are happy. Especially obama.
I guess now where The Great Sat-n, what with the removal of that last A.
correction: I guess now we’re The Great Sat-n, what with the removal of that last A.
Market watch is quoting someone who says this is the Tea Party downgrade. ... Wolf Blitzer said it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.