• If you are having problems logging in please use the Contact Us in the lower right hand corner of the forum page for assistance.

Obama won’t escape blame for credit downgrade

hypocritexposer

Well-known member
Joined
Apr 12, 2008
Messages
24,216
Reaction score
0
Location
real world
Standard and Poor’s explanation for why it downgraded U.S. debt is written in such a way that it can be seized upon by all ideological stripes. The statement cites the unwillingness of Republicans to raise taxes and of Democrats to agree to entitlement cuts. And the rating agency’s discourse about the political dysfunction will provide column fodder for Washington pundits who long for the days when both parties would work together to reach compromises. But make no mistake, when all the dust settles, it will be difficult for President Obama to escape blame for this.

Defenders of Obama will attempt to pin the blame on his predecessor, President Bush, and on intransigent Tea Party radicals in the current Congress. But that would leave out the part in between. For his first two years in office, Obama’s party controlled both chambers of Congress – for part of that period, he had a filibuster proof majority in the Senate. During that time period, he and his fellow Democrats could have passed his supposedly ideal, long-term, deficit-reduction package -- one that represented a “balanced approach” between spending cuts and tax increases. It also could have delayed the deficit reduction for several years, so it wouldn’t have affected the current weak economy or the “investments” he considers crucial. Forget about actually accomplishing serious deficit reduction -- he didn’t even attempt it.

When Obama came into office, he argued that we needed deficit spending to boost the economy, so he passed a $800 billion stimulus package. Then, in one of his first supposed pivots to the deficit, he convened a ‘fiscal responsibility summit’ in February 2009. But that actually turned out to be part of a different pivot altogether. It was during that summit that then White House Budget Director Peter Orszag declared, “health care reform is entitlement reform.”

And so, for the next 13 months, Obama spent all of his energies trying to get health care legislation across the finish line. The end product was a plan that, according to both the Congressional Budget Office and actuary for the Centers for Medicare and Medicaid Services, did not bend the health care cost curve down. Let’s even set aside the argument over the accounting gimmicks that were employed to obtain a CBO score that showed modest deficit reduction. The reality is this: the law used money raised through tax hikes and Medicare cuts that otherwise would have been available for deficit reduction, to instead expand Medicaid by 18 million beneficiaries and create a massive new health care entitlement.

Of course, there’s more. After health care passed last March, Obama punted on the debt for the rest of the year as he awaited a report from his fiscal commission. He then ignored its recommendations and released a budget so ludicrous that within two months, it failed 0 to 97 in the Senate and he himself rejected it. He instead delivered a speech about his deficit reduction vision, which didn’t have enough details for the CBO to score. And then he spent the last few months arguing that he was prepared to offer Republicans a “grand bargain,” but to this day he hasn’t released details of this supposedly awesome deal that Republicans refused, beyond calculated leaks to favored reporters.

But there’s another reason why Obama won’t escape blame for this. Obama was elected president at a time when Americans felt the nation was in decline, and his central job was restore their faith that our best days were ahead of us, as President Reagan did after the Carter era. Whether you think he was dealt a poor hand or not, the bottom line is that the sense of decline has only deepened during the Obama presidency, and the first-ever downgrade of U.S. credit, whatever its ultimate financial implications, is yet another symbol of that decline.

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/obama-won%E2%80%99t-escape-blame-credit-downgrade#.Tj3hAOsFfVE.twitter
 

Tam

Well-known member
Joined
Feb 10, 2005
Messages
12,759
Reaction score
0
Location
Sask
But But But he inhereited the mess and there has been countless natural disasters around the world that have all worked against his Administrations ability to do what he needed to to fix the US economy :cry2: And if you don't believe him you are a tea bagging racist, terrorist, hostage taker that will say and do anything to see to it he is a failure.

There now all the resident liberals can stay hidden and not bother coming out in the light of day to look at what is really going on with their hero. :roll:

Oh and to what the article says He will find a way to blame someone, anyone and his supporters will back him all the way to the voters booth. :roll:
 

Tam

Well-known member
Joined
Feb 10, 2005
Messages
12,759
Reaction score
0
Location
Sask
Larrry said:
Just watch ole "Downgrade" try to take the credit for gas going down

He will try take credit for anything that might give him a chance at re-election and he willalso try blame the rest on anyone or anything but himself and his supporters seem to be blind to that. When do you think his supporters will start holding him responsible for the results of HIS AGENDA?
 

Larrry

Well-known member
Joined
Jul 23, 2007
Messages
8,645
Reaction score
0
Location
The good ole USA
Tam said:
Larrry said:
Just watch ole "Downgrade" try to take the credit for gas going down

He will try take credit for anything that might give him a chance at re-election and he willalso try blame the rest on anyone or anything but himself and his supporters seem to be blind to that. When do you think his supporters will start holding him responsible for the results of HIS AGENDA?

I sure hope it's before the US totally collapses from the downgrade obama regime
 

Tam

Well-known member
Joined
Feb 10, 2005
Messages
12,759
Reaction score
0
Location
Sask
Larrry said:
Tam said:
Larrry said:
Just watch ole "Downgrade" try to take the credit for gas going down

He will try take credit for anything that might give him a chance at re-election and he willalso try blame the rest on anyone or anything but himself and his supporters seem to be blind to that. When do you think his supporters will start holding him responsible for the results of HIS AGENDA?

I sure hope it's before the US totally collapses from the downgrade obama regime

He and his minions like Kerry have already blamed the downgrade on the Terrorist hostage taking tea baggers.(So much for stopping the heated rhedoric :roll: :x ) In their minds, they are not to blame for spending or debt so how could they possibly be held responsible for the Downgrade and the collapse of anything? :roll:
 

Latest posts

Top