Posted on 08/06/2011 8:32:34 PM PDT by jazusamo
S&P tells it like it is: the U.S. is out of money
The Obama administration has made history by presiding over the first-ever downgrade in the U.S. credit rating. President Obama has outdone all his predecessors in wrecking America’s good name. His answer to this problem: Spend even more.
Raising the debt ceiling was sold as a way of guaranteeing the U.S. credit rating. It had the opposite effect, which makes sense to anyone who understands credit. Take a family with a median household income around $50,000. If they spend $85,000 a year and have debt at $300,000 and growing, it’d be foolish to let them borrow more because they don’t have the income to pay it back. Raising the debt ceiling ignored this reality. Then, the Obama administration immediately demonstrated its utter lack of creditworthiness by blowing 60 percent of the initial $400 billion increase in one day, the largest single-day accumulation of debt in U.S. history.
The White House blames the George W. Bush administration for every economic woe, but the numbers speak for themselves. In 2008, the federal budget deficit was around 3 percent of gross domestic product. In 2011, it’s around 11 percent. Total federal debt was $10.7 trillion at the end of 2008 and is currently $14.3 trillion. Debt as a percentage of GDP was a painful 69 percent at the end of the Bush years, but Mr. Obama is pushing it over 100 percent...
(Excerpt) Read more at washingtontimes.com ...
The AMERICAN people elected this Dolt,so By extension the Morons being educated in Public schools Downgraded the Country,we may not like it but we have been screaming about this decline for Years and now it is staring us in the Face.
Yes Obama is the result of what we have seen coming,we havge Met the enemy and the enemy is US.
We can continue to Complain or we can get off our asses and Not be Afraid to speak against these Marxists who everyday spew their Bilge on TV,Yes even FOX,and the New York Times ,Krugman ,Dowd,who the hell are these wimps and weirdos who we Bow too,I would rather Listen to a Plumber or Bus Driver or store Clerk trying to raise a Family, this Country has Become a Pathetic Joke,THE MILITARY is the Exception,where we Still get the Men and Women we do to serve as they do is the only thing that gives me Hope
The reason for America’s credit access has been its job machine..which has always ensured a steady tax revenue
Nobody in DC wants to correlate the rising debt ceiling with declining jobs.
The rising debt ceiling has two consequences....
more regulation ...
to occupy employees in expanding federal bureaucracies...which expand because “they have more money” and another layer of bureaucrats need their 20 year promotions... Each round of regulatory expansion is the effective equivalent of another targeted tax increase on the object of the regulation.
more taxes...
The rising debt ceiling has demands and expectations of creditors for new elements of “revenue raising” by the Feds...taxes or fees.
In this strangling environment job creation is simply NOT possible.
In fact the only logical conclusion..can be ..is that the Federal apparatus -initially an asset to the United States..by virtue of its abilities to raise an effective Navy in the late 1700’s, and early 1800’s to facilitate overseas trade on behalf of the States, has become nothing other than the States greatest liability at this point in time. In the absence of profound regulatory and taxation reform-which is not capable of coming from the same minds that created the problem..we may well be at the end of the line.
For DC to face this fact...means the end of the K St-Congressional Party cycle in DC-the one that keeps repeating “2.4Trillion” as their mantra.
IMHO...the only solution is a 50 state secession from DC at this point...with a completely new “Constitutional Re-Federalization”..
That is an amazing image! Is it YOURS?
(Of course, I recognize its origin)
...she knows the negatives and the hateful media stacked against her.
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Exactly... BUT.... after 3 years, she’s been vetted to the max... she’s weathered the storm... what other lie can they come up with against her? No October surprise with Sarah; can’t say that won’t happen with some of the other candidates.
LOL.... Your tagline “dates” you Oceander. We used to say “Good enough for government work” when I was in the Air Force during Viet Nam.
“Sure, he’s got a cultish following but that’s dwindling.”
Its amazing how falling polls can be overcome by an edict!!
“This isn’t a dictatorship yet, but a strong challenge from Palin will tempt Obama sorely to try to crush the Tea Party with martial law.”
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Well, at this points, all bets are off, and Obama will be seen as an unConstitutional leader unfit for office...and he will be removed. You see, lawlessness begets lawlessness, and unless the Kenyan has a Civilian Force to enforce his decrees, he’s out of luck. There’s also the small matter of geting all of the military to go along with him.
This would be the worst mistake the Kenyan ever makes.
For sure, he is the least competent person in any room/place he goes. He could kill the enthusiasm of Andy Hardy.
Sarah will run and I think Obama will refuse to debate her... his minions in the media have declared her as unfit and that will give him cover.
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Sorry, but in today’s media age that simply would not be a viable option for the Kenyan and he knows it. They’ve had since 2008 to declare her unfit, and all of their attacks have produced Nada!
No, he’ll be forced to debate her should she run. This thought scares the crap out of him because she’s the only one he truly fears.
And it is time for us to do the Lee and Davis.....
What truly, truly scares the crap out of him, is the thought of having to take a ride up Pennsylvania Avenue with her, having abused her as he and his scumbuddies have done .... within arm's reach.
That woman could skin him, dress him, and hang him up like a white-tail deer before they got up to the Capitol. That thought should make his little nuts suck up into his chest!
Thanks! Unfortuntately, it more accurately dates my Dad, from whom I got it; he was an FSO starting in the late 60s through until he retired in the late 90s.
That is indeed my image (the composited image, not the underlying original, of course).
Obama’s not acting alone. It takes a village to destroy a nation - a village of dem idiots giving away everything that’s not nailed down...
Maybe a stand alone post of freeper photo/artist explaining dems destroying the nation? This picture would be a great start...
My compliments to you on your iconic and evocative image!
Thanks!
Headline: Obama downgraded from AAA to ASS.
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