Democrats in Denial About the Downgrade

Susan Stamper Brown, FloydReports.com

It has been said bad news does not get better over time.

I once knew a lady who discovered a lump in her breast, but ignored it until it had metastasized. She finally sought medical help when she reached the point that she could no longer ignore the pain. Initially, denial gave her a brief sense of security, but all the while, the cancer was spreading.

I could not help but notice an odd similarity this week while listening to Rep. Debbie Wasserman-Schultz, D-FL, tell MSNBC that Obama and the Democrats have “really begun to turn the economy around.” With the exception of inside the Beltway, Americans are hurting. Cities and towns across this great country bear the scars of recession in one form or another, from abandoned homes to emptied offices and pot-holed roads.

Last week’s stock market nose dive, coupled with anemic unemployment numbers, were symptomatic of a sick economy screaming for a huge dose of old-fashioned American capitalism. Obviously in denial (or worse), the Obama administration did everything in its power to convince Americans that “there is nothing to see here, just move along.” It’s like watching my friend exhibit all the symptoms of cancer and all she wants to talk about is how good she feels.

And now with Standard and Poor’s downgrade of the country’s AAA credit rating, for the first time in United States history, it will be intriguing to see how the administration tries to spin this latest revelation.

While most Americans are not economists, we are smart enough to see the economy is in dire straits. The administration seems to think throwing a bunch of numbers around as a shell game is enough to quiet the….

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Cartoon of the Day: What a Beautiful Day for Hiring

The Dirty Dozen Democrats Who Could Have Prevented the Downgrade

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….

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Bernanke, the Wizard Behind Obama’s Sham Economy

Dr. Mark W. Hendrickson

On July 11, The Center for Vision & Values posted my article decrying the insulting name-calling directed toward Federal Reserve Board Chairman Ben Bernanke. The very next day, Bernanke made me question my forbearance by telling Congress that a third round of “quantitative easing,” or “QE3,” could be a near-term option.

Now it’s my turn to call Bernanke a name, but I’ll use a clinical label, not a crude one. He is an inflationist, although he may prefer the label “anti-deflationist.” He so fears a deflationary spiral that he will create however many dollars he believes necessary to avert deflation.

Bernanke’s repeated attempts to patch over the nation’s economic weakness, rottenness, and dead wood with newly created dollars remind me of the “Potemkin village” ruse. The Soviet communists duped foreign visitors into thinking that communism was a viable and prosperous system by steering them to sham factories, stores, villages, etc., which appeared to be productive, bustling, and attractive. In reality, Potemkin villages were like movie sets, built to disguise the widespread poverty and backwardness that characterized life in the “workers’ paradise.”

Official statistics insist that the Great Recession ended two years ago. Yet unemployment is creeping up, record numbers of workers are remaining unemployed for record lengths of time, income is down for small proprietors, and millions of people feel as though the recession never ended.

It is proverbial that statistics lie. One such statistic is the gross domestic product….

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Video: Small Businesswoman to Obama, Stop Whining and Apologize, You Failure

As the economy slips into unprecedented territory, Barack Obama’s refusal to take responsibility for his actions have warn Americans’ patience beyond the breaking point. After S&P downgraded the nation’s credit rating Friday evening. a small businesswoman sent the president an unmistakable message: quit blaming everyone else and apologize to the American people for your abject failure in leadership. Amilya Antonetti, CEO of AMA Productions, told Neil Cavuto the president should only say one thing to the nation this morning: “I apologize, because I did not lead this country to success.” She echoed this author’s contention that Obama is an historic president, but not for the reasons people think. “He’s not gonna be known as the first black president,” she said. “He’s gonna be known as the president who had a downgrade.” Yes, the U.S. credit downgrade is another historic Obama first. Leaders lead; Obama ducks-and-covers. Watch her powerful rebuke here: