Senate Majority Whip Richard Durbin (D), said the following;
The downgrade “is also a political one, partisan gamesmanship has left global markets, rating agencies and the American people searching for stability.”
No Dick, people are searching for stability because Democrats pressed the accelerator to the floor on spending and run up trillions of dollars in unsustainable debt in just a few short years. They've done so at such a pace that the out of control spending under President Bush looks minuscule by comparison. It's time to come clean on spending Dick, or this problem will only grow worse. You can't fix something you don't recognize as a problem. Admitting you have a spending problem is the first step to recovery.
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As an adjunct to the story, the Democrats, particularly the White House, seem poised and eager blame the messenger - Standard and Poors - rather than face reality. Republicans won't negotiate? You can't negotiate with those who can't or won't face reality. Standard and Poors are just the latest in the blame Democrats throw around for their own hyperbolic mistakes.
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There's been a breach in the Obamacrats' wall of denial and blame, that's the reason behind the panic reaction to the news of the credit rating downgrade by the administration. You'd better believe they are working furiously behind the scenes to get their Asian counterparts to stop this from becoming a full fledged collapse.
You know, it's actually kind of funny. S&P is one of the rating agencies who are blamed for the start of this current long running recession, in part due to their "not foreseeing and acting on" the indicators (Fannie, Freddy, housing bubble, etc) that led to this. Now, they in fact get their heads out of their you know whats and do the responsible thing (responsible in that if I run up to much debt, my credit rating goes in the dumpster so why should it be any different for government) and the re called political, wrong or whatever when in fact they are stating fact. So as usual, when the politicians get caught, the lies and propaganda steering the fault away from them get louder. Life as normal for the menagerie that is D.C.
ReplyDeleteDid you see Bob Beckel today on The Five on Fox? He was irate and so angry at S&P he was practically calling them idiots. The anger at S&P is all about the fact that it does damage to Obama.
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