Wednesday, April 20, 2011

Obama Attempted To Strong Arm Standard and Poors - No Surprise

Secretary of the Treasury Tax Cheat Timothy Geithner, under orders from Socialist President Obama, attempted to strong arm Standard and Poors, the credit rating agency, when the Administration learned that the S & P was about to lower the US credit rating from Stable to Negative.   This rating change caused the stock market to fall and the price of gold to go up.  Given the huge Obama deficits and the growing National Debt, the US Triple AAA rating is clearly at risk.   Naturally, Obama does not want this Negative rating publicized because it will eventually force responsible elected officials (Not Obama) to cut spending.   It will also demonstrate that Obama's Socialist Schemes are bankrupting our country.  If the US loses its Triple AAA rating, the US will have to pay much higher interest rates to borrow money in the markets; much the same as has happened to bankrupt Ireland, Greece, Portugal and various banana republics.   As it is now, the US is paying about $500 Billion a year in interest on the National Debt and that is with very low interest rates.   This is out of the $3.7 Trillion budget for 2011.  The US now owes more money than any other nation in the history of the world. 

In the mean time, one of my heroes, Republican Senator Jim DeMint of South Carolina has said that he will filibuster the vote to raise the National Debt Ceiling unless the Congress approves a Balanced Budget Amendment.   This blogger hopes that DeMint plays this card and sticks with it no matter what the outcome is because otherwise, we will never see the end of deficit spending and our National Debt will just grow by Trillions more on the way to the bankruptcy of the United States.   In the laugh of the day, Socialist President Obama is calling the sensible Ryan Plan to end deficit spending and repay the National Debt "radical".  What part of broke does this President not understand especially since Obama has no plan other than raising taxes on the "rich", defined by Obama as those making more than $250,000 a year.  Obama is the most "radical" left wing President in American history so for Obama to call anything, or anyone "radical" is really a joke.  If only it was so simple; but raising taxes will just result in lower economic growth and job loss and therefor less revenue to the federal government.   Class warfare may play well with Obama's Socialist base; but it will never result in an end to deficit spending and a balanced budget.  

Standard and Poors fired a shot across the bow of the federal government.   We are on our way to losing our Tripple AAA credit rating unless deficit spending is ended and we begin to pay off our National Debt.   This will never happen as long as Socialists, including the President, are in office, which is the reason we must sweep them out of office in 2012 and 2014.  This fight is about preserving our freedom, our nation and way of life for the sake of our children and grandchildren.   We must make Obama a one term President.   We must take back our nation in 2012 and 2014 by electing common sense Conservatives.  We can do it.  We must do it to prevent the bankruptcy of our nation. 

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