What It's Not About
Don't Be Confused Or Bamboozled
This isn't, or shouldn't be, about raising taxes. Ever wonder why the Democratic Party is called the "Tax & Spend" party? During the first two years of this administration, when the Oval Office and both houses of Congress were controlled by The Great Thinkers, we saw lots of spending - too much spending. They saw the opportunity to commandeer the tax payer gravy train and they jumped right on in. In two short years they increased the national debt from the $10 trillion range to the $14 trillion range. That was in two years folks. It's going up again, if Obama and his cronies get their way.
This is all about politics at the expense of the American people, even a 5th grader can understand that. This short video will explain, in child like terms, what The Great Thinkers are failing to grasp. Or do they and just want to exercise their political agenda of more spending and more taxes?
Smarter Than A Fifth Grader?
Remember that a good crisis should never be wasted according to the occupants of The Whine House. The latest gambit is to seize upon S&P down grading the economic outlook to a negative. Here's the ploy. Nowhere in that report to down grade the outlook did they once mention having to raise the debt limit as the cure all, or reason, to turning the negative to a positive. There was not a mention of the debate on raising any debt ceiling. But remember not to waste a crisis. In fact, Barclay's Bank let it be known when issuing the report that, "This announcement was not about the debt ceiling." But remember to never let a good crisis go to waste.
I won't go into the complexity of the debt rating system. Just suffice it to say that it is extremely complex. There is a parallel to look at when back in 1995-1996 Moody's put parts of the the official US debt, but not all of it, in the negative ledger. That was a result of the debt ceiling impasse at that time and it was stated as such. Even if the debt ceiling issue is resolved in the short term, there will be little, if any, impact of turning the corner on the downgrade. Debt service is part of the key to understanding a part of this.
In the near term, the US brings in more than enough revenue on a monthly basis to service the interest payments on our debt. But that isn't necessarily a good thing if spending isn't cut. But it appears that The Great Thinkers up there don't grasp that part. If spending is not drastically reduced, the national debt cannot be reduced to lower those interest payments. Look at the bottle cap closely that I used for this Hub. Raising taxes isn't the answer because they'd have to go through the roof to make the present budget even come close to balancing, much less make any headway on reducing the debt. I wrote about "how much" we'd all be looking at yesterday here:
Back to the crisis. The Democrats have seized on the S&P downgrade as the issue to have to raise the debt ceiling, even though that had nothing to do with the "why." The why is because of the continued excessive spending that this administration is once again proposing. As noted earlier, Barclay's specifically stated that it had nothing to do with the debt ceiling debate. But why let a good crisis go to waste? Lets just mix apples and oranges and see if the American people are as stupid as we think they are. Some of us aren't, some of you are.
Prepare yourself for this latest inane, insane Democratic attempt to spin a crisis. Isn't this the same Obama who, as a Senator, opposed the raising of the debt ceiling back in 2006. Didn't he say then that "Increasing America's debt weakens us domestically and internationally." I happen to agree with that statement of actual fact. Joe Biden and Harry Reid chimed in at the time stating the same thing just using more words. Aren't those same three responsible for raising the national debt another $4 trillion in two short years. Either they have short memories or very selective ones.
Harry Reid had this to say at the time, "Given the explosion of debt in recent years, it is long past time for Washington the course and adopt a new fiscal policy." Did that include financing the Cowboy Poetry Festival or bemoaning the fact that if the federal government was shut down that all those people who missed The Cherry Blossom Festival would suffer horrific misery? After all, they only bloom once a year. Is that what it means Harry, this new fiscal policy that you helped usher in to send spending through the roof?
That was back then when George Bush was President and yes, he shares part of the responsibility for the debt explosion. But this bunch is making Bush look like a clown at the rodeo in comparison to their spending binge. The first part of their new fiscal act was to spend like a drunken sailor for two years solid. Now they want to try to play catch up at the American tax payers expense? Their answer is to tax the rich? You mean those guys and gals who create the jobs we desperately need?
They just want to renew their credit card so the spending can continue. Obama calls it "investment" now since "spending" has become a dirty word. The Republicans could dance the jig naked and still not win over the Lames Stream Media, so why bother. They need to take the hard line and not raise the debt ceiling without adopting spending policies that significantly cut what we, the American tax payer, can't afford to pay.
I believe that the American people understand that economic disaster looms over the horizon when one refuses to pay off their existing debt and just ask for a new credit card. Well, many of them do, the other ones end up in bankruptcy proceedings. Nuff said? I you don't understand the basics here, I suggest you catch on quickly.
Understand this about The Frog. I'm not a Democrat nor am I a Republican. I'm a registered Independent and a very concerned American who has had about enough of this political posturing going down on The Hill. It's about decreasing spending, not raising taxes. When you get a chance go back and read yesterday's Hub that I wrote about taxation if you haven't already. It speaks volumes. Hang onto your wallets folks, the professional pick pockets are going at it again.
PS - Isn't that video so easy to understand that a 5th grader can grasp the concept? Low spending = low taxes. Think about that one for a while.
The Frog Prince