Hey you know what else Obama inherited from Bush?
AAA credit rating.
Yesterday we watched history being made. For the very first time in our history the United States of America no longer has a AAA credit/bond rating.
Yesterday, Barack Obama ensured that your grandchildren and their grandchildren will pay for his incompetence, failed policy's, inept leadership, war mongering and fiscal irresponsibility.
Yesterday was indeed a day of change. A change brought forth by a back bench junior Senator from Illinois with visions of grandeur for himself at the expense of 280 million citizens.
Yesterday was the first day of our journey into the abyss, whether we come out just another third world banana republic or the great nation the founding fathers envisioned remains to be seen.
Yesterday the equivalent of an economic atomic bomb was dropped on our economy because of the actions of TWO men over the last ten years. Kind of ironic that today is the 66th anniversary of the dropping of the atomic bomb on Hiroshima. Makes me wonder if five days from now we'll lose our status as the worlds reserve currency.
Yesterday the Economic Court rendered it's verdict on Barack Obama and Ben Bernanke and their policies. GUILTY of Failing to lead, failing frankly at every aspect of being President.
1. Failure to exit Iraq & Afghanistan which would have saved billions if not Trillions
2. Starting Wars in Yemen & Libya incurring further costs that we can't afford.
3. Failure to move forward towards Energy Independence - Think of the jobs that would have been created? Oil Field work is high pay work too. NOT the minimum wage BS now
4. The so called stimulus which was nothing more than paybacks in the form of some 8,000 projects, many of dubious value and judging from the unemployment stats of very little job creation value. If we hadn't spent the 800 Billion maybe the bond rating wouldn't be downgraded
5. Obama Care which WILL cost us money we don't have. Yet he obligated us to implement a program that we have no hope of paying for.
Some would point to Europe and it's cradle to grave social safety net as proof that it can be done. Let's for the sake of argument agree with that premise. Now look at their Military Budgets as a percent of their GDP and compare it to ours. The United States subsidizes far more than ethanol, we prop up the entire European economy by taking on the burden of their defense to the detriment of those here at home. Same with Japan. We can no longer afford to be the Worlds Policeman AND have a strong social safety net. Something has to give. For me the ideal path would be a shared sacrifice in that we bring ALL of the troops home in the next 90 days, Work out a way for Social Security and Medicare to be solvent for the next 75 years and if we do those structural things we will be positioned to live on the tax revenue collected now. Sure we can tweak it and work on overhauling the tax code to make it more fair and promote economic growth without it being a tool for social engineering like it is now.
The first step is to remove Barack Obama and Ben Bernanke and replace them with STRONG fiscally responsible people capable of taking the heat that's required in order to right our floundering economic ship. This will be no easy task as EVERYONE will pay a price either in reduction or elimination of their favorite federal program or in the manner in which they're taxed. Most likely both IMO. We, as citizens have the stomach for this battle. The question is who at the top has the courage to lead. Certainly not the current Empty suit.