August 8, 2011
President Obama, the National Debt Crisis and the S&P Downgrade
On Friday August 5, 2011 about 9:30 pm, Standard and Poor's made good on their promise to downgrade the long-term bonds of the USA. For the first time in history the USA saw it's stellar credit rating take a hit. Where was our President all weekend in this time of need?
He went to Camp David. Why? Who knows, but I do know there is a golf course nearby. My guess is he got in at least two rounds, maybe three. He'd get the course to himself because the Secret Service doesn't want any rogue golfers on the course with something other than clubs in their bags. When you're all alone on a golf course, you can play 18 holes in as little as three hours.
In about an hour or so, the US stock markets will open. It's going to be a blood bath. Billions of dollars of wealth are going to be wiped out when the market opens.
A true leader would have been on television yesterday trying to calm the fears of the nation and sending a message to all of the world markets that we were going to make amends.
A true leader would have been on television leading with a plan. But Obama doesn't have a plan, or does he? Perhaps he's dumb like a fox.
You want my opinion? I actually feel like he's doing everything possible to destroy America's financial system. Bring everyone to their knees so they feel the only hope is the government. All you have to do is look back in history at other socialistic takeovers of other countries around the world. Economic bedlam almost always preceded such a change in government.
Have you really gotten your head around the National Debt and how serious the issue really is? When you start hearing numbers all the time, they sort of lose their impact. I feel it's best to show them graphically.
You look at the graph below and tell me if you think we're in trouble. Imagine instead of the graph being titled National Debt Since 1940 it said, "Your Monthly Bills Since 2000".
Do you think you'd be in a little trouble? If you think debt is good and we need to spend more, tell me where the money is going to come from to pay all the money back?
Oh, sure, tax the rich. Tax the evil corporations. Hey? Who passed all those laws? Wow, let's go look at the Congressional Record to see who voted for all those loopholes.
We're in deep trouble. We need to get the 50% of the people who pay no taxes to start to do their fair share. Everyone needs to pitch in to start to pay down the debt.
Oh, and the absolute BIGGEST thing to do is to cut spending. Freeze spending now and start to cut back 2 percent per year across the board. That's not draconian. It's a start.
If you have an idea on how to save the nation, share it below in the comments.
Remember, comment below. Show the world how you feel. Comments are like votes. But unlike voter fraud, just comment once. Get to the point and move on.