The AP is reporting that the debt rating will be downgraded if we do not have a budget deal and because we are engaged in an ongoing spendathon. Our Aaa rating will fall one notch. A year ago we were downgraded one notch to a negative rating for the first time in our history and it was on Obama’s watch.
The ratings of global competitiveness released last week downgraded us from 5th to 7th place. We are not competing in the global marketplace. Is it a surprise given our regulations, taxes, and lack of a budget?
For almost four years, Harry Reid, who is complicit with Barack Obama, has refused to allow budgets be brought to the floor for discussion. He put Obama’s budget up and it was rejected by every member of the Senate. In other words, it’s the Obama spendilicious budget or it’s no budget.
The media will blame partisan wrangling but the fact is that Obama will only allow his budget and there is no compromising on that. The Republicans cannot be blamed for this but that doesn’t stop the media from publishing the absurd because people don’t have time to research the propaganda.
On January 2nd, we will reach the fiscal cliff without a budget deal but Obama, in the form of his shapeshifter, Harry Reid, refuses to discuss the real problem of Medicare and Social Security. If we reach the cliff, we will go back into recession. We barely left the last recession.
House Speaker Boehner said no serious negotiations will take place before the election, which is why we haven’t had budgets in three years. Democrats don’t want to be associated with trillion dollar plus deficits and have it affect their elections. We pay 40 cents on every dollar in interest and we borrow 40 cents on every dollar. How long do you think we can keep this up?
After the election, Obama will simply keep spending, passing executive orders and rules, add more agencies, destroy all our nuclear weapons, and do his big government thing. Expect more of the same. He WILL take a re-election as a mandate to do more of what he is doing, when he has “more flexibility.”