Posts Tagged ‘Downgrade’

DOW crashes – S&P Downgrade – Tea Party Downgrade

Posted by Troy on 8th August 2011 in Current Events, Political

The spin is out…this is the “Tea Party Downgrade.”  This is a complete lie.  S&P downgraded our debt based upon our deficit spending.  The Tea Party is all about cutting the debt.  The Democrats originally wanted just a debt increase without any added income or reduced spending.  That should tell you where they are.  At best, they are at the status quo.  However, prior speeches by key Democrats state that they think that we should reduce the debt but continue to “invest” in our future.  Investing is a codeword for spending.

I said it once, and I’ll say it again.  The only time to have deficit spending is in Congressionally declared war or to fund a major project which is exceptional/temporary in nature.  It is okay to borrow in order to build an interstate system.  However, we cannot borrow to maintain the road system.  Ask any business owner.  They will tell you that it is okay to borrow in order to do a remodel.  However, if you are having to borrow constantly in order to  buy inventory and make payroll, you might as well close down.  If your normal revenues cannot cover your day-to-day expenses, it is unsustainable.

Long Live the Constitution!