Subject: Fiddling as the debt ceiling falls in - US economy - MSN Money
Fiddling as the debt ceiling falls in - US economy - MSN Money
8/06/2011 04:42:00 AM
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Key Words:
BARACK OBAMA,
Deficit,
REAGAN
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This entry was posted on 8/06/2011 04:42:00 AM
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BARACK OBAMA
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Deficit
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REAGAN
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4 comments:
So Standard and Poor downgraded the credit rating of the US. What a surprise. That means they think we're a bunch of bickering deadbeats.
Not quite. That implies that both sides are doing it and, quite frankly, only one side has been unreasonable, obstructionist, and placed party over country.
Well done, teabaggers and the billionaires who fund them. You've fucked up again. Trying to drown the federal government in a bathtub by using the debt (which you always run up like a ballistic missile when you're in charge) is so fucking stupid it defies belief.
IF you follow this to its logical conclusion, the US will have the poor groaning under taxation, the rich and the corporations will pay no taxes, the federal government will shrink to nothing, and states will go bankrupt one after the other.
What else is there but a return to feudalism and serfdom? Albeit a modified form with iPods and streaming media, but it will still be a form of bondage by the rich over the rest of us.
A telling quote by multi-millionaire Jay Gould in 1886: "I can hire one-half of the working class to kill the other half."
Good times.
S&P had said they would downgrade us if we did anything less than cut $4 trillion from the budget immediately. They were going to lower our rating regardless of any reasonable action, much like Tea Partiers are going for the jugular of any politician who made any sort of good faith attempt to lower the deficit without just shutting the whole government down.
One silly thing about S&P's decision is that they were off by $2 trillion when calculating the deficit, then fell back on "the politics of the deal were too ugly!" to support its reasoning.
So, congratulations, Republicans, for insisting on the immediate passage of constitutional amendments, screaming like petulant children about taxes, and insisting there's no such thing as a debt limit crisis. You got what you wanted -- a U.S. economy that's neither stable nor respected! Thanks!
The debt ceiling was raised 5 times when GW Bush was Pres. Is *anyone* even aware of that fact? If not, why not? Because there wasn't this ginned up ersatz "concern" and fear fear fear faked up to make citizens think that something "had to be done." It's bogus.
Yet another way that the upper 2% are shorting the country to make money for themselves. But hey: let's vote TeaBagger because then I'll get "my way."
Call the waaaahmbulance, bitches, cuz the only getting "their way" are the mega-rich.
Don't forget the S&P rated all those CDOs or whatever as A++ and/or AAA right before the housing bubble burst and the market crashed in 2008.
Think you trust S&P???
Good luck with your 401(k) plans all you libertarians who hate Soc Sec like poison. Enjoy watching your hard earned cash be ripped off by the mega-wealthy, once again, but you feel all proud 'n stuff for being such a "rugged individualist." Hope you enjoy your Ayn Randian propoganda as your bank account dwindles. Go Galt!!
No one noticed when the debt ceiling was raised during the Bush administration because Bush and his cronies hadn't destroyed the economy yet. They were just busy maxing out the credit card with wars and tax cuts and unfunded Medicare prescription mandates.
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