After months of watching nonsensical argument, the debt crisis is over. House Republicans and Senate Democrats finally decided to co-operate, in a bipartisan way, to ensure our financial stability, our credit rating, and our long term outlook as a nation. Both sides dropped the partisan bickering and tackled the issue of the $14.3 trillion debt in a logical and professional manner. You can relax now America, things are going to be fine. Don’t we all wish it were that easy?!?!
Instead, we have witnessed another “dog and pony” shows performed by Congress whenever they are asked to do what is best for this country and it’s future. Senator Reid finds the TEA party “disconcerting” and Vice President, Joe Biden, is calling the TEA party “terrorists”. But let’s not leave out the RINOs in the Senate and Speaker of the House, John Boehner, who demanded those damn TEA party representatives get in their “asses in line”. Or how about the media outlets, who painted the picture that a failure to raise the debt ceiling would result in a national default to our creditors and that the TEA party was using this “hostage” to get it’s way.
Well, the majority of Congress co-operated, the President signed the bill, and the debt crisis is over, right?
While the debt ceiling was raised and cuts were made to the budget, Washington operated as usual and put a giant band-aid over a gaping wound. As previously discussed, the “debt ceiling” debate never tackled the “debt crisis” or the pending credit rating downgrade that looms in the VERY distant future of the United States.
If you take the time to register for free, both Moody’s and S&P will allow you to read the criteria for national credit evaluations along with the credit rating of each individual nation. It is not difficult to see that these credit rating agencies use the exact same criteria as the private credit rating agencies who evaluate an individual’s credit score.
When you, as an individual, abuse your credit and are downgraded, what happens when you try to get a loan? You pay higher interest rates or are refused credit based on your past practices, and amount of debt you’ve accrued. New revenue sources do not change your credit score because you can abuse large amounts of money as easily as your can abuse smaller amounts of money. The only way to restore a bad credit score is to show the credit rating agencies that your patterns have changed and you are a responsible debtor.
President Obama is still in denial that there is a debt crisis and insists that it was manufactured by Republicans as a political tool to use against him… and maybe so… but the TEA party had nothing to do with the backroom deals or “hostage taking”. That is reserved for the DINOs and RINOs in Washington who care more about being re-elected than doing the correct thing for the constituents they represent. This Congress and this President voted “yes” to 2-3 days worth of spending cuts a year and declare that the debt crisis is over. S&P and Moody’s, however, are not so optimistic and the outlook for the United States looks financially grim.
Russian Prime Minister Vladimir Putin pretty much sums it up by stating how lending more money to the United States is causing a massive strain on the world economy. This type of irresponsible behavior will either lead to to war or to the U.S. dollar being dropped at the world’s reserve currency. No, my friends, this debt crisis is only starting and the TEA party are the only ones who are abandoning the false rhetoric of the elite politicians and media for common sense.
The TEA party does not want to suffer the consequences of losing our credit rating, the world’s reserve currency status, or risk a war over the lack fiscal responsibility in Washington. Giving these DINOs and RINOs more revenue through taxes just empowers them to improperly spend more revenue.