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Friday, August 05, 2011

Obama First President to Face U.S. Credit Downgrade

The big question in the White House? How can we blame this on the Republicans?

Leadership Quiz:

Q. You are aware of a looming fiscal crisis. What do you do?
a. Throw lavish parties and go golfing.
b. Give lots of speeches blaming your predecessor and the other party.
c. Try to find ways to increase government spending and double the accumulation of debt.
d. Engage in class warfare and use allies in the Senate to block serious solutions.
e. All of the above.

We all know that the answer Obama chose is e.

The news that Standard and Poors downgraded the U.S. credit rating for the first time in history really won't come as a surprise. We've seen this coming for a long time as Obama continued massive increases in spending and debt to pay for his plethora of big government boondoggles.

The S&P action is just the latest in a growing list of negative economic indicators that raise the most serious doubts about Obama's economic stewardship. Unemployment, a diving stock market, a further dip in housing prices, loss of consumer confidence and lower retail sales are all just signs of the inevitable consequences of putting a President in the Oval Office whose only real job experience outside government was as a Community Organizer.

Try as me might, the former Community Organizer won't be able to blame this on Republicans. All the GOP has to do is point to the Ryan Plan which Democrats defeated in the Senate and the Cut, Cap and Balance Plan which was never allowed to come up for a vote. Republicans are also pushing a Balanced Budget Amendment to the Constitution which Democrats are fighting tooth and nail.

To paraphrase Obama's mentor Reverend Wright: Obama's chickens are coming home to roost. And the American people will left to clean up the mess!

1 comment:

Tania said...

We were warned by S&P that this was a distinct possiblity prior to the 'debt deal'.

What should be shared from every rooftop is that Cut, Cap and Balance contained the dollar amount of cuts that S&P specifically stated they wanted in any debt deal bill. Democrat Senator Harry Reid made sure CC&B was DOA in the Senate. If you want to point blame then Harry Reid is solely to blame for this downgrade.

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