Surprised? Don't Be!
Straight Out Of The Dictionary
Harry's Answer Is To Raise Taxes
Of all the bumbling idiot politicians on Capitol Hill Harry Reid takes the cake, though Fancy Nancy gives him a run for the icing. This really shouldn't come as any great surprise that Harry and the Democrat's answer to the S&P downgrade of our nation's credit rating is to raise taxes to cover the excessive spending spree that they embarked on upon Obama's inauguration. It should be expected because of the nature of the Democratic motto - "Tax And Spend." It doesn't matter what order you put the words in as it all equates to the same thing.
So Harry wants to spin it again. He calls it a "balanced approach." I'll call it what it is - STUPIDITY. I'm beginning to wonder if these people can read and comprehend. You don't raise taxes during a recession and yes, we're still in one and heading south.
Here's what the S&P report said, "The political brinksmanship of recent months highlights what we see as America's governance and policy making becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge."
That's exactly what we just witnessed to a "T." Paul Ryan submitted a budget proposal that would have met with the satisfaction of all the credit reporting agencies. It went down in flames because Harry wouldn't hear of it. The Cut, Cap and Balance was submitted by the House. Harry tabled it and wouldn't allow debate in the Senate. Now then, go back up and read what S&P said one more time. They forewarned our government that they expected to see spending cut by at least the amount the Obama administration over spent during the first two years of his Presidency. They were ignored by this administration.
The expected shortfall this year is in the range of $1.5 trillion. Instead of addressing the problem in the short term, as was required, they played political theater again to raise the debt ceiling so that even more debt could be piled on without addressing the underlying issue. That issue is an out of control government spending more money rather than cutting the spending. So Harry's answer is to raise taxes to cover what should never occur in the first place.
So Harry pulls out Obama's favorite boogie men and announces, "The action by S&P reaffirms the need for a balanced approach to deficit reduction that combines spending cuts with revenue-raising measures like closing taxpayer-funded giveaways to billionaires, oil companies and corporate jet owners. This makes the work of the joint committee all the more important, and shows why leaders should appoint members who will approach the committee’s work with an open mind - instead of hardliners who have already ruled out the balanced approach that the markets and rating agencies like S&P are demanding."
That isn't what S&P is demanding (Harry's word) at all. Go back up and read what they said one more time, and see if you can equate Harry's nonsensical statement to what they said. They said not a word about raising taxes to do anything of the sort. Then the Treasury wants to cry foul ball with a 2 trillion dollar error. They (S&P) expected 4 trillion and really got 2.1 trillion according to the CBO analysis of what was done and that's stretched out over a 10 year period. They want real spending cuts, not smoke and mirrors. Even the majority of the American electorate sees it for what it is - horse hockey pucks.
Back Up The Van For More...
S&P requires affirmative action now to address the underlying issue of excessive spending by a large, bloated federal nanny state. Reid needs to go home permanently to the pomegranates and roses he so longs for. And someone please give him a roll of duct tape to wrap around his head in the lips area.
So which plan met the guidance issued by S&P to maintain our AAA rating? It was called Cut, Cap & Balance and was put on the table by The Tea Party caucus of the House, passed by the House and sent to the Senate where this very same Harry Reid tabled it. They seemed to have heard the message and if you aren't now listening, you should be.