Michael Reagan, FloydReports.com
President Obama, the Democratic Party and its members of Congress have spent years blaming former President George W. Bush for the nation’s current economic woes, which is akin to blaming the bank’s tellers for a bank robbery, or for the dishonesty of their bosses, the bank’s executives who were looting the till.
Nobody in the liberal-dominated media bothers to note that in the last years of the Bush presidency Democrats controlled the Congress and thus had a death grip on the nation’s economy, having complete control over the nation’s purse strings. They spent (and spent, and spent) the yet-uncollected taxes of future generations — as well as our own — as if there were no tomorrow.
It wasn’t a Bush Congress that jammed the incredible costs of ObamaCare down the throats of the American people and their children and grandchildren — it was our spendthrift president and his allies on Capitol Hill doing their classic imitation of the legendary drunken sailors on shore leave.
It’s simply common sense to understand that spending money one doesn’t have in the hopes that the future will provide the needed funds is something like believing that some beneficent tooth fairy will come up with the money in the future.
Now the president and the national Democratic Party have suddenly discovered a scapegoat for the latest economic mess they have thrust upon the American people. They insist that the credit-rating downgrade was the fault of the Tea Party trying to control the nation’s purse strings. I’m not kidding. They really expect us to swallow this whopper as the Gospel truth.
They expect us to ignore the fact that the millions of Tea Party members are simply Americans, deeply and sincerely concerned about the nation’s economy and the tendency of the government to spend their hard-earned tax money on whatever scam strikes its fancy.
It’s time to place the blame for our economic malaise where it belongs — on the shoulders of the Obama administration and the Democrats in Congress.
Tea Party members have been the voice of reason, not the wild-eyed terrorists portrayed by the Left’s crazy spin doctors.
What would have averted the credit-rating downgrade and the subsequent turmoil in the markets? Precisely the spending cuts advocated by the Tea Party.
According to a statement by Jenny Beth Martin, a co-founder and national coordinator of Tea Party Patriots, the debt-ceiling compromise was….
Ben Johnson, The White House Watch
Impeachment usually represents a punitive act following the commission of a crime, but some are looking to it as a last means of self-defense. At a Tea Party town hall meeting last night Rep. Michael Burgess, R-TX, said impeachment “needs to happen” to stop Barack Obama from inflicting more “damage” on this country.
The Fort Worth Star-Telegram claims an attendee “suggested that the House push for impeachment proceedings against President Barack Obama to obstruct the president from pushing his agenda.” Burgess, who represents four counties in northern Texas, responded: “It needs to happen, and I agree with you it would tie things up. No question about that.” He later stood by his comment. “We need to tie things up. The longer we allow the damage to continue unchecked, the worse things are going to be for us.”
The Star-Telegram adds, “Burgess said he wasn’t sure whether the proper charges to bring up articles of impeachment against Obama were there.” Since the reporter does not quote Congressman Burgess nor elaborate on this sentence, it is uncertain whether Burgess said he was not sure Obama had committed an impeachable offense or whether the charges could pass the Democrat-controlled Senate. While there are ample grounds for impeachment, it would take intense citizen pressure to force senators to vote for conviction.
Whatever the circumstances surrounding Burgess’ words, he is part of a significant and growing number of Congressmen willing to see Obama removed from office….
William E. Been, FloydReports.com
While watching the debt ceiling increase by $2.4 trillion just to cover spending until the next presidential election, the scam perpetrated on the American people could not have been any more obvious. While the Republican-controlled House of Representatives negotiated with itself for weeks in an attempt to propose something that might save our great nation from financial disaster, neither the U.S. Senate nor the White House proposed any plan at all. Even worse, while listening to Barack Obama’s rhetoric about the need for a bipartisan solution, the Majority Leader of the Democrat-controlled Senate announced that bills coming from the House were “dead on arrival.” In fact, nothing coming from the House was even allowed to be debated by the overly partisan Senate leadership. This resulted in another crisis-not-to-be-wasted. As the administration-imposed deadline of August 2 approached, the Democrats’ rhetoric followed a familiar pattern as they attempted to frighten the American public with false accusations that grandma won’t get her medical care, seniors will lose their Social Security, sick children will be turned away, and that a major calamity will occur if no increase in the debt ceiling is approved by August 2.
In attempting to understand how and why our government has become so blatantly irresponsible, I heard an interview with Orrin Hatch on FOX News. Senator Hatch spoke of his past attempts to pass a Balanced Budget Amendment, specifically one in 1997 that failed to pass by a single vote. I could not help but wonder what that one vote would have meant to the current situation. With the debt being $5.4 trillion in 1997 and heading for $15 trillion in 2011, it is clear that holding at the 1997 levels would have assured that no crisis would have occurred and that the spending being generated by the Obama administration would have been dramatically reduced. As a result, it is important to understand who those senators were who accounted for the missing vote that would have facilitated financial soundness.
A familiar pattern was again evident. The vote was 66-34, with a super majority of 67 votes required to pass the Amendment. Upon review of the senators’ vote, it was once more aggravating to see the partisan politics that has ruled this country since the early 1990s. The “one vote” that killed the bill was cast by 34 Democrats as a block. They collectively killed the chance for financial sanity. Even more remarkable, every GOP senator voted for the bill, joined by 11 Democrats. Yet, the 34 Democrats blocked a bill that could have prevented the debt ceiling crisis of 2011.
Sadly, 18 of these 34 senators are still in the Senate, and still blocking all attempts to reduce spending and debt. This Group of 18 has destroyed the financial stability and strength of the greatest nation in history. Every American needs to know these senators, who will be listed as the “Dirty Dozen plus 6” at the end of this document.
Having documented the Democrats’ destruction of mortgage lending standards during the 1990s, this irresponsible destruction of a bipartisan Balanced Budget bill in 1997 coupled with the mortgage lending debacle should be an indictment of the entire Democratic Party. No theft of wealth at any level can even begin to approach what the Democrats and their allies in the Progressive movement have committed against our country. The Democrats have destroyed our financial reputation, the reserve status of our dollar, and are continuing reckless spending at the….
Ben Johnson, The White House Watch
Obama scored another historical first on Friday, becoming the first president to see the U.S. credit rating downgraded by Standard & Poor’s, from AAA to AA+. While we hope his presidential reign lasts no longer than January 2013, Americans may have to live with the consequences of Obamanomics for more than a decade to come. The chairman of Standard & Poor’s sovereign debt ratings, John Chambers, told ABC’s This Week program on Sunday the United States could be stuck with the lower credit rating between nine and 18 years. “We’ve had five governments that lost their AAA that got it back,” he said. “The amount of time that it took for those five range from 9 years to 18 years.” He forecast that digging America out of the debt ditch “could take awhile,” and that it would require two things: “a stabilization of the debt as a share of the economy and eventual decline” and “more ability to reach consensus in Washington than what we’re observing now.”
The president’s commitment to deficit spending and unwillingness to make enforceable budget cuts leave a grim prognosis. But the outlook gets worse. As this author noted Friday, there is a chance America will be downgraded yet again. Chambers placed the odds of a future downgrade at one-in-three. Scoring a AA rating would place the Land of the Free on equal terms with Spain and Qatar.
These realities had Obama in full Alinsky mode during his 1 p.m. speech (which took place at two o’clock this afternoon). He opened by saying, while Tea Party intransigence forced S&P to cut our debt rating, “The markets, on the other hand, continue to believe our credit status is AAA.” To bolster his case, he added, “Warren Buffett, who knows a thing or two about good investments, said, ‘If there were a quadruple-A rating, I’d give the United States that.’” Even as he spoke, the stock market was in free fall. The Dow Jones industrial average fell 634.76 points this afternoon. The slide capped off a string of losses so severe that CNBC reports, on this eighth day of the month, “August is already on track to be the worst month for the S&P  and Nasdaq since Oct. 2008,” the first full month of the economic meltdown. And despite earning the Obama administration’s seal of approval, Standard & Poor’s marked down Buffett’s Birkshire Hathaway holding conglomerate from “stable” to “negative” today.
Obama’s Surrogates Savage the Savers
Democratic talking heads did their best to pin blame on their political opponents. This weekend, both David Axelrod and Sen. John Kerry repeated the phrase “Tea Party downgrade.”
Treasury Secretary Tim Geithner eschewed presidential responsibility, as well. “Congress ultimately owns the credit rating of the United States,” he said. This would be true in the sense that Obama offered absolutely no leadership during the debate and presented no plan of his own but would overlook the president’s addiction to deficit spending and hostility to fiscal (or political) responsibility. Geithner, suddenly discovering the Founding Fathers, noted Congress has “the power of the purse in the Constitution.” That fact did not keep Geithner from publicly musing about having Obama unilaterally raise the debt ceiling in late June, leading to a chorus of Democrats demanding the president invoke the 14th Amendment to claim the power of the purse as his own.
Not everyone is reading from the same script, though. As usual, Bill and Hillary Clinton have taken the crisis to spin things in their favor. The Hill newspaper reports former Clinton administration appointees, who insisted on remaining anonymous, said Obama….