I am heading out on vacation with my family tomorrow, but fully expect the Country to be in the shitter by the time we get back. Only 6 days left and the Republicans have had everything but a cure for cancer handed to them, and they continue to walk away even when they get what they want. They have been doing a lot of screaming lately about where the President's or Democrats plan is? While progressives have placed a wide variety of unpopular measures on the table as tools for a deal, that doesn't qualify as a plan. A plan is what Republicans offer, that have wonderful names like "Cut, Cap, & Balance", but no chance of passing and do nothing but waste time we don't have. So while Democrats don't use the luxury of naming their plans, they also don't waste precious time pursuing them if they have no chance of passage. So the debt ceiling looms ever closer, while the political theater plays on and people are beginning to wake up, (albeit late), to the impending economic disaster that is preparing to unfold just 6 short days from now.
The Government rating agencies Moody's, Standard & Poors, and Fitch, are all getting out their red pens ready to lower the Nations credit rating for the first time in 235 years. So for all those fiscally responsible Republicans who outright refuse to raise the debt limit (ie: the Tea Party crowd), stick these facts in your portfolio. For each percent interest rates rise because of default, add $1 Trillion dollars to the debt. If we pay only the interest on the debt with only 60% of our revenues remaining, while domestic obligations fall to the waist side, in just six weeks our debt would be $78 Trillion dollars. Hows that for a debt crisis?
So who is to blame here? Well there is plenty to go around. The President, our delegator in chief, came late to the party after the Biden talks broke down when Republicans walked out. The President continues to show his inability to get his hands dirty, making sure everyone in the sandbox has a toy and then looks down to find he doesn't have any for himself. He also continues to reinforce the Republican talking point that he leads from behind. The Congress, for once again waiting until the last minute to address this problem until it became a crisis. Then last but not least, Tea Party Republicans who will not budge off their no tax increase pledges, which they made to Grover Norquist, their constituents, or both. This group more than any other has been the fly in the ointment. John Boehner is Speaker of the House, but he's weak. He lacks the character and personal strength needed to force his caucus to the table and deal. Eric Cantor has contributed to this by hamstringing Boehner, and working behind the scenes to keep the Tea Party caucus entrenched. However, with the cliff rapidly approaching Cantor my now just realize what he has created, and it's to late.
So if the Bumpkin Wing of the Republican Party remain uncompromising by their misguided, and purely ignorant political dogma, then basically we're fucked. Honestly, it's that simple. I doubt they would even let a clean bill just to raise the debt ceiling pass, because they have to have cuts equal to the debt increase. So save your money, don't buy a new car, home, or major appliance, because divided government is about to deliver big time for those of you that voted for this in 2010. My advise, work late, and kiss your bosses ass, cause hard times are coming.
The Government rating agencies Moody's, Standard & Poors, and Fitch, are all getting out their red pens ready to lower the Nations credit rating for the first time in 235 years. So for all those fiscally responsible Republicans who outright refuse to raise the debt limit (ie: the Tea Party crowd), stick these facts in your portfolio. For each percent interest rates rise because of default, add $1 Trillion dollars to the debt. If we pay only the interest on the debt with only 60% of our revenues remaining, while domestic obligations fall to the waist side, in just six weeks our debt would be $78 Trillion dollars. Hows that for a debt crisis?
So who is to blame here? Well there is plenty to go around. The President, our delegator in chief, came late to the party after the Biden talks broke down when Republicans walked out. The President continues to show his inability to get his hands dirty, making sure everyone in the sandbox has a toy and then looks down to find he doesn't have any for himself. He also continues to reinforce the Republican talking point that he leads from behind. The Congress, for once again waiting until the last minute to address this problem until it became a crisis. Then last but not least, Tea Party Republicans who will not budge off their no tax increase pledges, which they made to Grover Norquist, their constituents, or both. This group more than any other has been the fly in the ointment. John Boehner is Speaker of the House, but he's weak. He lacks the character and personal strength needed to force his caucus to the table and deal. Eric Cantor has contributed to this by hamstringing Boehner, and working behind the scenes to keep the Tea Party caucus entrenched. However, with the cliff rapidly approaching Cantor my now just realize what he has created, and it's to late.
So if the Bumpkin Wing of the Republican Party remain uncompromising by their misguided, and purely ignorant political dogma, then basically we're fucked. Honestly, it's that simple. I doubt they would even let a clean bill just to raise the debt ceiling pass, because they have to have cuts equal to the debt increase. So save your money, don't buy a new car, home, or major appliance, because divided government is about to deliver big time for those of you that voted for this in 2010. My advise, work late, and kiss your bosses ass, cause hard times are coming.
