Thursday, August 4, 2011


The Debt Ceiling Is Fixed
Obama signed the debt ceiling "deal" as soon as it reached his desk. This immediately shot-up the national debt another $238 BILLION dollars. This is a BAD thing America.

The new debt makes our borrowing equal to the gross domestic product (GDP). Things are good for America when that ratio is 18% of the GDP. Now it's 100% of the GDP. Countries who are in dire financial straits have GDPs at 100% or over 100%. You really don't have to understand the mechanics, just know that now America is approaching GREECE in GDP ratios! (Greece is where they riot in the streets because the government cannot pay for their entitlements any longer).

But Don't Worry
Hey, nothing's wrong. Everything now is A-OK. Well, that may not be the case America. (Remember that politicians lie on a regular basis - especially before re-election time). You see, there may be some unintended consequences from this new legislation.

The new law creates a committee that will be in charge of proposing "cuts" in government spending if Congress cannot reach decisions on government spending. It is feared by many that this commission will place strong emphasis on cutting military spending. Hey, that makes sense - doesn't it? Sure, we are only fighting three wars at the same time. We can afford some military cutting! Congressional logic: Start with bullets?

The new legislation may also affect Obama's favorite legislation: ObamaCare! There are at least 17 provisions in ObamaCare that this newly created commission will have to cut! Too bad ObamaCare! I guess that's the price you pay when you pass legislation that you don't read!

The new legislation may push Standard and Poors and Moody into downgrading our credit ratings. This will have a severe impact on our economy. It will hit all of us in the wallets and perhaps push our economy into a DEPRESSION! We'll have to just wait and see because the people who give the ratings are not convinced that our Congress did anything significant to fix our problem.

There are other things that will be uncovered, but hey, it's only been law now for two days! This is what happens when the IDIOTS in Congress wait until the eleventh hour to try and "fix" the debt ceiling problem. Not only do we get NO CUTS, but we get a $2.4 TRILLION increase in government spending.

Warning Ohio Voters
Recall that Speaker of the House John Boehner (R,OH) was in charge of this DISASTER! He should take a big chunk of the responsibility for INCREASING the debt ceiling without any substantial cuts in entitlements. This does NOTHING to help resolve the problems - just postpone them until after the November 2012 elections!

Next time choose a Tea Party candidate to replace John Boehner in Congress. As for the rest of us, we too have a responsibility. If our Representatives voted for Boehner's bill to raise the debt ceiling without any REAL cuts, we need to vote for Tea Party candidates to replace the IDIOTS who are still there!

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