Thursday, July 28, 2011

Speaker Bonehead And The Debt Ceiling

Like many of you, I have been following this manufactured crisis over raising the debt limit. The misinformation that the Republicans have been throwing around along with their lies and distortions of historical facts is unfortunate. Raising the debt ceiling was no big deal under Presidents Reagan, Bush and Clinton, so why is it such a crisis for President Obama. My answer is that the Republicans on the extreme right believe that the election of our first black president was a fluke and that if enough shit is thrown at him the electorate will not elect him for a second term. Senator Mitch McConnell (R-KY) has said from the beginning that his number one job is to see to it that President Obama is a one term president. But, the President isn't without his own party, as surely will be seen by the stupid exercise going on in the House of Representatives. Speaker Bonehead and Cantor think the American people will place all the blame for the debt raising fiasco on the President. I think the majority of American's sense of fair play will lead them to the correct conclusion about the debt ceiling debate. The Republicans, that control the House, have squandered valuable time by refusing to compromise, and thus placing the United States' triple-A credit rating at risk. Remember, credit ratings are based on two primary factors: the ability to pay interest on the debt and retire principal in a timely manner, and, the willingness to pay. The Republicans, by their refusal to raise the debt ceiling for this president, has placed our willingness to pay on past debt the main question. I would like to make mention of the fact that had President George W. Bush not taken us into Iraq based on the bogus claim of WMD, the United States would not have the debt that we are dealing with. Also, had the war in Iraq been paid for by not lowering taxes, the debt situation would not be where it is today. I certainly hope we get through this debt ceiling crisis before August 2, 2011, as 70 million Americans not receiving their checks could cause a break down in our society's willingness to live within the law. Think about it.

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