Saturday, August 6, 2011

Dems Blame America's Downgrade On Not Raising Taxes

It wasn't even 15 minutes past the time that S&P announced the downgrade of our creditworthiness that the Democrats were immediately popping up on TV screens and calling for tax increases. Of course, there were no real or specific calls for spending cuts; just more taxes and, especially, on those billionaires (making more than $200K a year), the corporate jet owners, and the oil companies. Then, too, they blame the Republicans for getting us into this credit rating mess by blocking any increased taxes in the credit ceiling negotiations.

However, what the Dems don't want to talk about is how they were able to increase our national debt by a whopping 35% in just 2-1/2 years; a feat unmatched in our history. You think, maybe, that might have had a lot to do with our downgrade in creditworthiness? After all, the Democrats had both houses of Congress and the Presidency and, while they were busy spending, they could have easily raised taxes at any time during that period. But, they didn't because they were afraid of losing the 2010 elections. If I recall, it was the Obama Stimulus Package that extended those tax breaks on corporate jet owners. And, I'm pretty sure that there were millionaires and billionaires and oil companies around in 2009 and 2010. Weren't there? Or, did the millionaires and billionaires and oil companies just arrive on the scene after the Republicans won the House of Representatives? Lastly, reaching an epitome of ignorance, there were 114 House Democrats who signed a letter urging a "clean" debt limit increase without any cuts in spending or increases in taxes. If their wish had come true, we wouldn't just have one rating agency downgrading us; we'd have all three.

The fact is that it will be the Democrats and Obama who will get the blame for the S&P downgrade. It was their spending with massive increases in our debt that got us here without any offsetting and measurable increases in revenues. Obama will be forever known as the first President to have ever presided over a loss in our pristine credit rating. This is just more proof of Obama's incompetency as President in a long series of failures since taking office. Jimmy Carter must be feeling pretty good right now. It's looking more and more likely that that idiot will be replaced by the current idiot as our "worst president ever"!

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