Posts Tagged ‘S&P’

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!

Negative credit rating

Posted by Troy on 18th April 2011 in Current Events, Political

Say what?!  How much do you want to bet that they are running around, frantic in the White House right now?

As much as I dislike Obama, I don’t want to see our debt downgraded.  This is a huge, honking deal.  The White House is spinning this as though S&P was being political. 

The fact of the matter is, there’s not enough tax dollars available to make up the debt.  Even if we taxed 100% of every one’s income, we couldn’t pay for this level of spending.  The Democrats’ argument that we need to tax people more is about like a spouse that insists you get a second job to pay for their excess spending.  You can go out and get that second job, but they are probably going to spend that money as well.  We must cut spending.  It’s not optional at this point.  It’s not what you make; it’s what you spend.  There are plenty of bankrupt millionaires out there.

I am not against higher taxes in general, if I felt that the money would actually be used to pay down the debt, but I feel confident they would just waste that money as well and continue to borrow more and more money.  With our struggling economy, I would rather we lock in rates in order to provide a stable environment to grow the economy.  At the end of the day, we must start cutting the budget at all levels.  We must become self-reliant again or face ruin.

Love live the Constitution.  Long live the United States of America!