Tea Party Movement Isn’t to Blame for AAA Downgrade
To blame the Tea Party movement for the downgrade from S&P, for lost jobs, and growing global poverty is funny. I was looking for the link from Jon Stewart or the Onion, but it was the thoughts of a friend in D.C. and others in the media
This downgrade is a long time coming and cannot be blamed to one person, group, or political party. Unfunded mandates that have been passed into law the past 45 years, increased activity in wars in the Arab world and lack of revenues into the government during the most recent recession became the icing on the cake for the downgrade.
The entire time during the debt negotiation we heard that if there wasn't deal made we would have a downgrade. The Republicans submitted nearly 13 plans and the Democrats submitted maybe 3. None from Obama, but I doubt he wanted any part of this so he could get reelected in 2012. They chose a plan nobody wanted and one that Tea Party groups despised. Both parties went after them in the debate and did so foolishly. (I really liked Rand Paul's plan for cutting the budget at 1% for the next 10 years to balance the budget. Common sense be damned.)
What happened with the markets the past few days is the equivalent of an ice cold enema. The markets correct themselves regardless of what the political climate is doing and irrespective of political ideology.
I know the next talking points from the Left will be global poverty is growing, but be honest with yourself. Nobody in power gives a crap about poverty growing domestically or globally. That even goes for Obama.
I will leave you all with this from our President. "No matter what a ratings agency says, we will always be a AAA country."
Required reading today:
More From News/Talk 95.1 & 790 KFYO
