Monday, August 08, 2011

Obama on the Downlow: US Credit Rating Lowered

S&P decided to lower the AAA rating, held by the United States for 70 years, to AA+ after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation’s growing spending. -- Zachary A. Goldfarb
Democrats prevented the spending cuts needed to avert the lowering of the U.S. credit rating. Thus, for the first time in America’s history the U.S. good faith and credit is called into question under president Barry Hussein Soetoro and the Democrat controlled Senate. Democrats were wrong and House Republicans were right. (see story)

Typically, the term “on the downlow” is reserved for guys who sneak around, and hide abnormal activities from girlfriends. Therefore, the term, I think, is an appropriate metaphor to explain the story of why the full faith and credit of the United States of America has been downgraded from AAA to AA+ for the first time in the history of the United States of America under president Barry Hussein Soetoro and Democrats. (see 9:30min video)

Lowering the nation’s rating to one notch below AAA, the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.” It said the bipartisan agreement reached this week to find at least $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would not be likely to achieve more savings in the future.-- Zachary A. Goldfarb

First, to explain, guys on the downlow lie to their girlfriends or wives. Usually these heels keep up a fa├žade that life within the relationship is complete normal, likewise, the president and his Party have for 2 ½ years been keeping up appearances with the American people. They’ve been pretending to look out for the interests of the American people. Instead, Democrats were looking out for their own Partisan special interest agenda. (S&P Report on Obama Down Grade below)

Standard and Poor Down Grade of US Credit Rating 2011

In other words because Democrats controlled both branches, the Legislative and the Executive, at the beginning of the Barry Soetoro presidency Democrats pushed the greatest Liberal social spending agenda upon Americans in the last 50 years. 1) Repeal of "don't ask, don't tell" policy was approved by both the Democrat controlled House and the Senate,

2) the DREAM Act, a false immigration reform written to make it easier for young Mexicans illegally in this country to go to college, got through the Democrat controlled House and came within a few votes of overcoming a filibuster, gaining sufficient support so that advocates of this unconstitutional and anti-American measure could incredibly argue for including a version of it in any comprehensive immigration reform measure.

3) Trillions of dollars of spending in Obamacare

4) The American Recovery and Reinvestment Act, otherwise known as “stimulus II” a 3.27 Trillion dollar hit on taxpayers.

5) $275 Billion Stimulus Package – Homeowners Bailout The Obama Administration handed out a $275 billion mortgage stimulus plan

6) $30 Billion Stimulus Package – AIG Bailout The federal government intervened under Obama once again to help insurance giant AIG

7) $15 Billion Stimulus Package – Small Business Loans The Obama Administration introduced a $15 billion economic stimulus venture

8) $1 Trillion "Toxic Asset" Program – Banks Bailout The Obama Administration launched a public-private economic stimulus venture

9) $22 Billion Stimulus Package – Automakers Bailout The Obama Administration extended another $22 billion in loans to Chrysler and GM Had the president kept his campaign promises to cut in half the deceit in his first term and focus on job creation Americans AAA rating would still be intact.

Instead, the President and Democrats squandered almost 2 years of his presidency passing and signing Obama care. (see previous post)

Jobs and deficit should have been priorities numbers 1 and 2 from the very beginning of the Soetoro presidency, though he gives them lip service they were not. In this election year that talk about jobs will dominate Washington discussion. In addition, instead of halving the deficit, as he promised, the president’s policies and agenda have increased the deficit by four times. To put that in perspective, Bush with all of his spending doubled the deficit in eight years.

Soetoro’s spending in 2 ½ years has remarkably not tripled but quadrupled the deficit. That’s eight years under Bush doubled, to two and a half years under Soetoro quadrupled.
What is so incredible regarding the recent national discussion about the National deficit is that Republicans offered three plans, The Ryan Road map, The Cut Cap and Balance and finally the Boehner Plan all plans that would have addressed Standard and Poor ‘s concern about the U.S. deficit spending.

Democrats in government and media lied and excoriated Republicans saying that Republicans were Tea Party Republicans, terrorists, hostage takers, highjackers, crazes, unreasonable, Wahabees, suicide bombers, holding a gun to the head of the American people. When it was the Republican’s plans that would have prevented the reduction in American’s good faith and credit.

In other words, Democrats were fighting like babies, resisting taking the medicine of spending reductions from Democrat historic spending, which they racked up under president Soetoro. Republicans attempted to cut the credit card of irresponsible spending only to have Big baby Democrats spit the epithet terrorists in the faces of Republicans who were offering the medicine of solutions. Solutions, which would have prevented the historical downgrade from AAA to AA+

That is the low down, downlow of president Soetoro and Democrats. They pretended that raising the debt ceiling was what was going to protect Americans credit rating while lambasting Republicans as villains who were attempting to destroy the good faith and credit of the United States. While now we see that it was Republicans all the time who were the adults, who were attempting to save our credit rating.

Democrats like angry rebelling adolescences were crying, “I hate you,” at Republican parents who were attempting to set parameters for the national family. Democrats in both media and government mischaracterized the whole argument to get what they wanted the raising of the debt ceiling without cutting deficit spending.

To which S&P said enough of the childishness you are grounded America.

No comments:

Post a Comment