“The American people will never knowingly adopt Socialism. But under the name of ‘liberalism’ they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.”

Socialist Party presidential candidate Norman Thomas

Monday, August 01, 2011

Crisis averted? Not so fast

So now that there is a tentative deal to raise the debt ceiling, most brain-dead Americans and the media will return to their reality-TV obsessions and looking for missing, pretty white girls respectively. But is our AAA rating all that safe now?

We were never going to default on the interest payments on our national debt. Those would have been paid first and some other less important stuff would have been sacrificed. Besides, the investment rating we enjoy isn't just based, as the media would have you believe, on whether we pay our debts. It's partially about that, but it's really about our long-term path and whether it's fiscally responsible or recklessly heading us toward the same cliff we just avoided. If the spending isn't reigned in enough for the analysts, they'll still downgrade our rating, and deservedly so. Then the economy will really tank because suddenly interest rates will skyrocket and nobody will be able to afford to borrow money.

Yes, thanks to tea-party pressure, the notion of raising taxes to pay for the revenue shortfall never made it to the discussion table, but the next job is to rid the legislative branch of as many socialist democrats and RINO republicans as possible and of course rid the country of the two-bit, street-corner pamphleteer the media installed into the presidency. The price of fiscal conservatives not taking control of congress is one debt crisis after another....the uncertainty of which will surely cause a downgrade of our credit rating.


Bill said...

Right you are, Ed.

We (conservatives) need the Presidency and Congress both to make the kind of changes the Tea Party rightly wants.

Reid said...

We need some statesmen! We no longer need politicians. Our founding fathers viewed their government service as a "part time" thing without pay. It was a sacrifice made to one's country. They would all be aghast at the greed and averice shown daily by their successors!

David said...

Crisis Averted? Hardly! Try "crisis prolonged" with a sexy new name. Think Pontiac Aztek.

Ed said...

Reid, if tea-party guys like Rubio are joined in 2012 by others, perhaps some actual useful things can get done. A term limits bill, a flat tax, and a balanced budget amendment would keep me from whining about government for at least a couple of years.

Bill said...

The liberals have gotten us to this point through a decades long strategy of incrementalism. Conservatives who think it can all be reversed and replaced in one fell swoop via the vehicle of a dept limit extention are fantasizing. The #1, #2, and #3 priorities must be to replace Obama, hold the House, and control the Senate starting in January 2013. Then something concrete can be done.

DAvid said...

Bill, good point re: incrementalism, it works every time.
And you are right the Republicans et.al. think they can reverse 40-50 years worth of incrementaiism with on e election or one initiative. It'll never happen.

Anonymous said...

Is there really any difference between Republicans and Democrates?
They both spend money we don't have very well, they both are more concernced about power than the countries welfare and they both are more worried about their jobs for life than any thing else. The taxpayers of this country are no better. It will take radical change in government spending to head off this crisis. The problem is about who will be getting the haircut. In order for this country to survive we will have to get used to doing better with less. I just don't see the average American up to the challange.