Obama’s triple-A nation

I actually sat through Obama’s last lecture to the nation and listened to him tell us how there’s nothing wrong with our economy. Quoting from the Associated Press;

In his first public comments on the credit downgrade, which S&P announced late Friday, Obama said Washington had the power to fix its own political dysfunction.

“Markets will rise and fall,” he said. “But this is the United States of America. No matter what some agency may say, we’ve always been and always will be a triple-A country.”

That’s the problem with Democrats…they make policy without understanding that what they do nullifies much of their policies. For example, they raise cigarette taxes thinking sales will continue at the same rate as before the tax was imposed. they don’t take into account that people will smuggle, cut back their smoking or even quit, thus cutting revenue.

In the case of the current debate, they don’t recognize that raising taxes on the employers will hurt employment as well as how much employers will spend on new equipment thus impacting the whole economy. The only reason they want to raise taxes is to show the ignorant that they’re willing to “tax the rich” and make them “pay their fair share” while most of the country pays little or no taxes.

The Standard & Poor people came out and said they downgraded our credit rating because of the partisan rancor in Washington and the only people playing politics with the economy are the Democrats. Republicans have presented rational plans that would actually cut government spending, which we can all agree is the problem, but the Democrats are that afraid buying into that would alienate the class which depends on government largesse – their constituency.

Democrats talk about increasing revenue sources which is long hand for raising taxes. But after President Bush cut taxes, revenues were actually higher than under Clinton – because there was full employment mostly.

Yes, President Obama, the US is a triple-A nation, but your policies don’t happen in a vacuum. Your policies have made us a double-A nation and all of the pretty rhetoric and incessant yammering about cutting payroll taxes and increasing unemployment eligibility is falling on deaf ears because we’re looking at becoming a single A nation in a few months. You have to cut the size of government and loosen regulations on businesses and quit threatening employers with higher taxes, that they’ll only pay with increased prices in the marketplace, which begins the ugly cycle we’ve been battling the last two years.

And there’s more to cut than defense and nickel and diming retirees of all stripes to death. My 401k lost $13,000 in value last week – that’s what I planned to spend in a single year of my retirement – so that’s a year longer I’ll have to work if this gang doesn’t get it’s act together. And it’s not counting what I lost today. I haven’t moved a dime of my money because I still have faith in the US economy, but it’s time for the Democrats to do the right thing for the country for a change instead of their re-election efforts.

Category: Barack Obama/Joe Biden, Economy, Liberals suck, Politics