US Credit Downgrade – Tea Party’s Fault? Bah!

“If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year, & are $327,000 in credit card debt. They are currently proposing BIG spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget & debt, reduced to a level that we can understand.” – Dave Ramsey

The main focus of the Tea Party is to cut Federal Government spending. That’s it. Nothing more, and nothing less. So based on the above quote, why are the Tea Party folks considered insane, delusional, terrorists, and anti-American? Why is everything their fault?

If the above quote does not sound insane, then I ask you; Is that how you run your family finances? Does that sound normal? Of course not. The Tea Party movement is trying to make the Federal Government more sane when it comes to spending. They want to cut spending. Not increase it.

On the other hand, we have the left-wing Liberals/Progressives who want more of the same. They want more stimulus and more spending. They want more debt and a larger deficit. Based on the quote above, and if you had a friend who was is a similar situation, would you find them to be insane if they said they needed to cut spending, or would you find them insane if they said they needed to spend more? The Tea Party is the whole reason there were cuts in this latest spending budget bill, because the liberals were well poised to raise the debt limit without a single spending cut.

And as of today (august 5th, 2011), the United States Government for the first time in its history has had its AAA credit rating downgraded to an AA+ rating. This downgrade wasn’t a result of spending cuts. It was a result of spending too much money without enough cuts. While this is nothing but a small downgrade, it speaks volumes for a couple reasons.

The first being, no one thought S&P would ever downgrade the credit rating – no matter what. They didn’t during the housing mortgage crisis, the recession of 2008, or the Jimmie Carter era when the inflation rate was up around 18% a year. After all, this is the United States of America! How dare they! But guess what? They didn’t succumb to the government’s pressure … and cut it anyway.

Despite all the pressure coming from the government not to cut its rating, S&P still felt that Government spending no longer met the criteria of a AAA rating. And they are right. Especially when the debt to GDP ratio is now 100% (9th worse out of 129 countries in the world). The recent budget bill only cuts about $2 trillion from the debt over the next 10 years (70% of the cuts don’t happen until the year 2017), but the budget also spends $7 trillion over the same amount of time. So in reality, there is no cut. It’s simply a reduction in how much they are spending and it’s based mostly on the wars in Iraq and Afghanistan coming to an end.

The Tea Party folks who were being anti-American, terrorists, delusional and insane were in fact trying to stop the very thing that just happened; the first ever downgrade of the United States credit rating. They were the only ones who were protecting this great country. They were the ones yelling “STOP!”, we are heading towards disaster. All they wanted were cuts. And they barely got anything.

Instead, the liberals and progressives (President Bush was a progressive) who said we should spend more are the ones who just made it much more expensive for all of us to borrow money. Car loans, house loans, credit cards, student loans will be more expensive in the near future (maybe not now, but trust me, there will be inflation). They are the ones who have made the national debt a national security concern. They are the ones who have burdened our children with hundreds of thousands of dollars in debt the minute they are born.

It’s the liberals who wanted the Tea Party folks to get out of the way and simply pass the budget bill with a debt ceiling raise with no spending cuts attached. They are the real terrorists who fear-mongered virtually every senior into thinking they wouldn’t get their social security paycheck, the Medicare coverage, or their Medicaid coverage if the debt ceiling wasn’t raised, when in fact this was completely false. It was a complete and total lie.

So I ask you this … the US credit rating has been downgraded from AAA to AA+ for the first time ever because we didn’t cut enough in the budget bill (Those are S&P words, not mine). If the Tea Party wanted to cut spending and not raise the debt ceiling, how are they at fault?

Leave a Comment