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Water Cooler – S&P Waves The Red Flag, Republicans Charge

Bull Fight 7

Bull Fight 7 by George L Smyth, on Flickr

Today the consequences of having a “Know-nothing” party as one of two political parties became even clearer (as if not paying for two war, and a major Medicaid increase while drastically cutting taxes for the wealthy were not enough evidence). Standard and Poor’s lowered it outlook on the United States being able to pay its debt in the future.

Was it because we have massive deficits? No not really. Was it because we have a ton of debt built up by giving millionaires and billionaires tax breaks in order to spur economic growth that did not happen? Not directly.

The reason that the S&P is down grading the likelihood of the US meeting its debt obligations is actually because they do not believe that there is any chance of real fundamental agreement on what steps need to be taken before the 2012 elections.

Yep, that’s right. The S&P thinks that there is no chance that there will be enough adults in the conversation about our revenue issues before the country gets to decide if they want to keep any or all of the Bozo’s in Washington. Now, ya’ll know me, I am going to say that for all the weakness of the Democrats, they are not the ones insisting on illusionary solutions to a real world problem.

In fact I can demonstrate that the galling and frustrating compromises that we have seen over the last six months on this very issue show that it is not the Dems who are so intransigent and oblivious to the reality of the situation that they will play political games with the economic health of the nation. That falls the Republican Party, and solely to that party.

Democrats are not the ones who insisted that we lard up an already huge tax break renewal with another 700 billion for in breaks for billionaires. Democrats are not the ones that have just passed an new Budget Resolution that would drop the top tax rate by 10%. This is a budget that claims to balance the budget but it will actually add 7 trillion to the debt over the next decade and won’t balance it until, wait for it, 2081 if it ever did.

Democrats are not the ones who are insisting that tax increases are “off the table” from the very start. No friends and neighbors, that is the Republicans and their insanity has gotten so bad that the S&P does not see how we can get past this issue until there is a new election, in 17 months.

The S&P is not even talking about the debt ceiling vote, which Majority Leader Cantor has said will not happen until after we reach the debt ceiling and are on the precipice of disaster. All so the Republicans can get more draconian spending cuts to the middle class and the working poor.

It is hard for me to understand how anyone can take the bleats of this Republicans and the Teahadists seriously when they are playing with the fiscal health of the United States. While Donald Trump is out there distracting people from how dangerous this all is, they Republicans are going full steam ahead with hostage taking. They are relying on the basic decency of the President and the Democrats to keep their tactic from destroying our economy. Of course that assumes that these cuts don’t do the job themselves.

When a credit rating agency is willing to talk about the United States having a problem paying back its debt, that is a big red flashing warning sign. It is too bad that Republicans are like the provable bull and only see it as a reason to charge in that direction.

Why else would Rep. Paul Ryan take this warning as a sign that his budget is the right thing to do and Republicans should double down on their insistence that holding one House of Congress gives them the right to dictate all policy or else?

What is on your minds tonight Firedogs? The floor is yours.

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Bill Egnor

Bill Egnor

I am a life long Democrat from a political family. Work wise I am a Six Sigma Black Belt (process improvement project manager) and Freelance reporter for Govtrak.org

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