They posted :
The ConstitutionThe day after the increase in the debt limit was approved the federal government spent $239 billion, which amounted to 60% of their approved funding. LIKE this post if you think that Congress should work to restrain the ability of the government to borrow, tax and spend.To which I replied :
Bobby A Kearan The Debt Ceiling Compromise reveals the GOP agenda for dealing with high unemployment is to Fire People (by cutting funding for their jobs) - their solution to paying off debt is to eliminate income by cutting taxes more - their solution to a sluggish economy is to take money out of the economy (by cutting government spending).I wasn't done, because I had become a tad emotional about the whole issue :
What makes people think these are good ideas?
So, The GOP and Tea Party got it's way. NOBODY better blame the results on Obama. (stock market dropped like a rock, unemployment will rise even higher, economy will tank - congratulations.)
Bobby A Kearan Just some Historical Notes - the Boston Tea Party was thrown because government cut taxes for a favored corporation (East India Tea Company)This guy pipes up, directing it at me... (not sure which comment he was replying to)
Reagan turned the U.S. into a debtor Nation, Bush II ran the debt up like crazy. Obama inherited an huge boulder of debt rolling downhill - and that is hard to stop.
FDR had his 'tea party' moment when he tried what congress just did - which led to a recession until he started spending again to pull us back out of it and into years of economic growth.
Look it up. History doesn't lie. We just got screwed.
Jerome Easter Lol @Bobby! Do you really believe that BS? How does taking money from the people that earn so the idiots in DC can blow it on more bs stimulate any thing other than greed and corruption?
Bobby A Kearan @Jerome Easter - it is FACT, How can you deny fact? Greed and Corruption? Like tax breaks for those who don't need it? Many of whom don't even WANT tax cuts? Some of whom WANT to pay their share? Like increasing shareholder profit by firing long-term employees who "make too much" to keep? Like increasing CEO pay by 400 plus percent, but worker pay by only 4 percent? Like that kind of Greed and Corruption? Like getting bailed out by taxpayers and using it to give the people who caused the failures big Bonuses? That kind of corruption?Well, Standard & Poor's has now downgraded the U.S. Credit Rating to AA+
People need to do some REAL serious critical thinking and reasoning. You really think jobs are created by rich people? That is just plain idiotic. Ask around - why are businesses not hiring? Its not "uncertainty about taxes" - it is because the middle class is out of money and have nothing to spend to increase demand which is the ONLY thing that creates jobs. Money has been leeched out of the economy and into the pockets and vaults of the top 1% - who pay 40% of taxes while holding 90% of all the wealth. (percentages may vary slightly) They can't make much more money - because it Does NOT trickle down.
Congratulations to the Tea Party Terrorists - you got what you wanted. My 401k lost $800 today and I am going to hate to see what Monday brings.
Let me hilight a quote from their press release :
The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.Let the Bush Mistakes expire! They have taken us from a budget surplus to huge deficits and ... YES, the Tax Cuts! ... and have piled on the debt!
Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a 'AAA' rating.
Hold the GOP and Tea Party responsible for what they have wrought upon us all.