Monday, August 8, 2011

S & P and Downgrade

This administration refuses to take responsibility for the rising debt as well as their economic policies contributing to the S&P downgrade. At first they blamed the previous administration and when the public got tired of hearing that, they are now attacking the Tea Party for their failures. If my memory is correct, I don’t think the Tea Party is responsible for all this accumulated debt. I believe it has to do with reckless spending by Congress, this administration and previous administrations of both parties that over the years have refused to admit that there is a spending problem, not an income problem. Congress has refused to address the so called entitlement issues, so instead they throw everything to a commission to avoid responsibility. Sound familiar. Increasing taxes is the Democrat mantra without any massive spending cuts that would actually reduce the deficit from the projected $17 Trillion to the 2008 levels for starters and not over 10 years, but within 3 years just like this administration has raised the debt to these historical levels in just under 3 years.




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