Sorry it came out too small. I will redo it and post the new one
The text says
Mr. National Debt. Let me introduce myself. I am President Obama. I will do everything I can to ensure your continued growth.
I can't read the print but I assume this is related to the U.S. debt.
Remember...the crisis began with a political ideology fight over who should pay for the fix and the debt ceiling was used as a weapon. The resulting mayhem yielded only a reduction in our credit rating (that will cost taxpayers billions), and a weak debt reduction bill.
Does any political party or faction really expect a reward for this fiasco?
Come next election, throw them ALL out. Everyone who is up for re-election must go -- they have all shown themselves to be unfit for the offices they occupy.
With things like this going on no wonder were in so much trouble.
http://www.nytimes.com/2011/08/07/busin … r=2&hp
I think the financial set call it "Strategic Default" maybe we all should try it?
submissions from the Patriot Post today
we must look at all perspectives, and not dismiss them just because we may not agree...we must be looking for the correct answers to the problems, which can be found somewhere between the lines of all the perspectives...
"The Obama administration and congressional Democrats are betting their political futures on the hope that the American electorate is ignorant and forgetful, and hence the memo has gone out to functionaries hither and yon, from David Axelrod to John Kerry: This is to be called the 'tea-party downgrade.' That this is said with straight faces bespeaks either an unshakable contempt for the mind of the American voter or an as-yet unplumbed capacity for Democratic self-delusion. Let us revisit the facts. The original debt-ceiling deal put forward by the Democrats totaled $0.00 in debt reduction. This would have fallen approximately $4 trillion short of the $4 trillion in debt reduction the credit-rating agencies suggested would constitute a 'credible' step toward maintaining our AAA rating and avoiding a downgrade. ... The Democrats have suggested that Republicans' refusal to accede to tax hikes is the main reason Standard & Poor's felt it necessary to issue a downgrade, the first in American history, last Friday evening. In their assessment of Standard & Poor's reasoning, the Democrats are acutely at odds with Standard & Poor's. The credit-rating agency did not call for tax hikes in its assessment. ... But S&P, along with the other credit-rating agencies, has long taken a position on one aspect of our fiscal troubles: entitlement reform. ... As anybody who has looked at our long-term deficit projections knows, entitlement spending is the major driver of our future deficits. ... Tea-party leaders, far from being a barrier to entitlement reform, have demanded it. ... The deal that finally did pass would have contained significantly more in deficit-reduction, except for the fact that Democrats categorically refused to consider -- is this sounding familiar? -- entitlement reform, the most important issue. ... Democrats believe that they have discovered a cartoon villain in the Tea Party, and they are hoping that American voters are gullible enough to be distracted by the political theatrics. Come November 2012, Americans should keep in mind both the insult and the injury -- to the nation and its credit." --National Review
What does the downgrade mean?
Opinion in Brief
"It seems to me that, on any reasonable assessment, the gulf between the parties on fiscal policy is becoming more difficult to bridge, not less. Pessimism on that score seems entirely justified, so it's hard to argue with S&P['s credit rating downgrade] on at least that specific point. I do think the outlook for fundamental fiscal agreement before the 2012 election is bleak. After that, things could change dramatically for the better, or not. In any case, whether S&P is being fair or unfair to move at this juncture, the political standoff we're in is, sadly, necessary right now, despite its costs. Americans are in the midst of a great debate on the future of our society. Everyone seems to agree that the outcome of the next election will have a decisive impact on what kind of country we are -- or become. Will we retain our distinctively American characteristics, or move irrevocably toward the European model? ... Whether or not Barack Obama is reelected will be the single most important factor determining the direction we take. Nothing much will happen until that question is resolved, S&P notwithstanding. And for all the problems it causes, that is the way it has to be." --Ethics and Public Policy Center senior fellow Stanley Kurtz
"[On Friday] it was announced that the unemployment rate is 9.1 percent. The unemployment rate has now been above 9 percent in 25 of the last 27 months. [On Thursday] stocks fell 512 points. Consumer confidence has fallen again as has consumer spending. Manufacturing has slowed to the slowest pace in more than two years. GDP growth is a sickly 1.3 percent. Meanwhile, the national debt has risen to $14.8 trillion. Federal spending has risen to $3.6 trillion -- $700 billion more than just three years ago -- and continues to rise, despite the fact tax receipts have fallen to $2.2 trillion -- $300 billion less than three years ago. [Obama] promised that if Congress passed the $812 billion stimulus bill in 2009, the unemployment rate would be approximately 5.5 percent by November 2012. That would require that between 800,000 and 1,000,000 jobs per month (depending on the labor participation rate) be created between now and election day. Given that over the last quarter we've been running between 750,000 to 950,000 jobs per month short of that goal, what are [his] plans to boost the employment rate? [Obama has] announced [he's] going on a Midwest bus tour beginning the week of August 15 to focus on job creation. How many jobs [will his bus tour] create? Isn't it reasonable for Americans to conclude that [his] jobs-creation program consists primarily of borrowing money, deficit spending, and giving speeches?" --National Review's Peter Kirsanow
...here's a few more
http://blog.heritage.org/2011/08/08/mor … ing%2BBell
so now we have a patriot, a conservative and a libertarian view
by Gary Anderson 7 years ago
I have been watching the Yahoo boards and people are furious at the Republicans, especially the Tea Party. They are getting the lion's share of the blame for the debt downgrade. Here's why:1. Obama wanted a grand plan. The Republicans rejected it.2. Obama wanted shared sacrifice including taxes for...
by Aficionada 7 years ago
http://news.yahoo.com/p-reconsidering-u … 07261.html"The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday in an unprecedented reversal of fortune for the world's largest economy.S&P cut the long-term U.S. credit rating by one notch to AA-plus...
by Sophia Angelique 5 years ago
From Forbes Magazine.http://www.forbes.com/sites/rickungar/2 … ack-obama/Quote: "So, how have the Republicans managed to persuade Americans to buy into the whole “Obama as big spender” narrative? It might have something to do with the first year of the Obama presidency where the...
by Eugene Hardy 6 years ago
14 Trillion Dollars.That is a lot of debt.If we were a house hold with a $15,000.00 debt that the house must pay, or face bankruptcy, then the house and all it’s members must work to together to do it.It will take more than 20 years probably to pay it off, meaning multiple administrations and...
by Jack Lee 8 months ago
Let me be consistent and bring up the topic of our debt, which was doubled under Obama’s 7 years to $20 trillion and now under the first year of the Trump administration is rising to $20.5 trillion. It is Congress’s mandate to control spending. Let’s hope they have some backbone and say no to...
by MikeNV 8 years ago
"The U.S. national debt hit $13 trillion today, a stratospheric number with looming implications for every citizen.With about 309 million people living in the U.S., the average American owns a $42,000 piece of debt — and the 110 million taxpayers owe an even larger chunk per person as the...
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