Posts Tagged ‘Debt Ceiling’


Dear Readers: A press release has been issued that I want to share with the SOCAL TAX REVOLT COALITION – SAN DIEGO TEA PARTY PATRIOTS:

Today, the San Diego Tea Party organization, the Southern California Tax Revolt Coalition (SCTRC), has formally released the following statement regarding the downgrade of the credit rating of the Unites States of America to AA+ by Standard and Poor’s (S&P):

No one here in San Diego, across the country, or elsewhere in the world, who has been closely following the news, is surprised that S&P downgraded this nation’s credit rating from AAA to AA+. The simple, bitter truth is that the United States of America spends money it doesn’t have. And S&P formally stated what the taxpayers of this nation have been saying loudly these past three years — .you can’t spend us back to solvency.

The Tea Party was started in 2009 out of the growing frustration that our representatives in Washington DC were more interested in reelection instead of representation. The Republican Party had abandoned it’s fiscally conservative roots, approving more entitlement programs and agreeing to continue baseline budgeting that automatically increases spending levels. The Democrats, especially when they gained control of both Houses in 2007, dramatically escalated spending while rewarding their base constituencies. President Obama has seen fit to promote his vision of wealth distribution as he demonizes this country’s wealth producers and uses his regulatory agencies to harm our businesses. All of them stopped representing the average tax paying American. TARP, Stimulus, Cash-for-Clunkers, and Obamacare are prime examples of bi-partisan betrayal that set America firmly on the road to fiscal disaster.

This week’s bi-partisan Debt Ceiling deal was a bitter reminder that establishment GOP have learned nothing from the Tea Party uprising and the demands of the taxpayers for a more responsible government. It also shows that the Democratic Party will resort to vigorous hyperbole, fear-mongering rhetoric, and crass class-warfare tactics to undermine any call for serious entitlement reform. We applaud those who voted against the measure (including local representatives Duncan Hunter and Bob Filner), and we are ashamed of those who supported supposed ‘spending cuts’ that amounted to less than a day of Washington’s spending.

So, thank you, President Obama. Thank you Harry Reid. Thank you, John Boehner. And an extra thank you to Congressman Issa, Congressman Bilbray, Senator Boxer & Senator Feinstein. Thank you bureaucrats. Thank you for contributing to this national humiliation, for making everything more cost more, for condemning us to more expensive debt and for guaranteeing that it will take well beyond any of our lifetimes to dig out of this debt black-hole we are in as a nation.
America spends too much. This needs to change, and quickly, for the sake of its hard-working citizens.

Sarah Bond, SCTRC CEO, offers this statement: It’s time for real spending cuts. Time for “shared responsibility” to mean something more than tax hikes for everyone. Time for redundant regulation to be slashed so that the businesses of this once great nation can roar back to life. It’s time for the rule of law to mean something. And time for government to STOP bailing out every bank, home owner, and union dominated industry that fails. Capitalism is self-correcting and will reward our entire economy if we believe in and encourage it’s time-tested principles.

Dawn Wildman, SCTRC President, offers this statement: ““This event was clearly foreseeable and we were warned. It was up to Congress to make the tough choices to keep the US still at an AAA rating. They chose to bunt, so now we will all pay because Congress and the President have an addiction to spending. All we ever wanted to was to see a few heroes in Congress who could say enough is enough let’s get our fiscal house in order. Now, Americans will pay for yet another mistake by a comatose Congress and Administration. The focus of the Tea Party in 2012 will be getting more like-minded citizens into elected office who are willing to make the needed fixes”.

Leslie Eastman, SCTRC Media Director, offers this statement: “Republican and Democrat establishment politicians, and their elite media supporters, own the downgrade. They fought Tea Party representatives at every turn, while using derogatory terms such as “terrorists” and “hobbits”. They were the ones who forced a deal which was insufficient, essentially kicking the can of fiscal responsibility down the road and off the cliff. The downgrade shows that the best course of action is the one set by the Tea Party – drastically changing our spending habits. Apparently, China (our main creditor), also agrees and has gone “Tea Party” (hat-tip, Instapundit).

Hat-tip: Bokbluster

“Additionally, I hold the media minions of the elite politicians responsible. For example, they fiddled over Palin’s emails while our economy burned (MUT NOTE: Palin’s policies earned her state the AAA rating — read any coverage of that?). The Fourth Estate abrogated its First Amendment responsibilities by failing to report the significance of the Debt Ceiling until we were fast encroaching on the supposed deadline; we in the Tea Party were discussing this issue in depth immediately after the election in 2010. The tone of many pundits was an amalgam of snide condescension and elite derision whenever they interviewed a representative with Tea Party–based objectives. And the elite media promulgated the atmosphere of fear and panic, so that no reasoned discourse was aired.

“One of the most galling aspects related to recent events is that President Obama had the temerity to imply that average Americans didn’t understand what the Debt Ceiling was. Apparently, we knew better than he. I hope he can learn a lesson from President Bill Clinton, who managed to work in a truly bipartisan manner for welfare reform that helped enhance the American economy. Given Obama’score on this matter, I am doubtful.

“I also hope he has some plans to address the five likely consequences of this downgrade: US debt service costs will rise, interest rates for individuals and businesses will go up, increased costs associated with these rises will shaveat least1% off of GDP, the stock markets drop dramatically because of the slowing economy, and, and the increasing interest rates will cost America thousands upon thousands jobs. Here is a hint I will give him freely: The solution will not be found on a golf course.”

To Check out what other San Diego Tea Party Pundits are saying about the downgrade, check out THE SLOBS: SAN-DIEGO LOCAL ORDER OF BLOGGERS. (MUT request – If you use Facebook, please “like” us on the right menu!). Here are some headlines:

* W.C. Varones: Timmy the Tax Cheat joins Zimbabwe Ben in the Idiots or Liars Club

* Left Coast Rebel: S&P Credit Rating: It Could Get Worse

* Charles Caesar: Super Congress or Freedom Kryptonite?

Lorraine Yapps Cohen: Tea Party = Taxpayers; Tea Party Means Taxpayers, Not GOP or Anything Else

UPDATE: This is OUTSTANDING! Thank you, Tammy Bruce, for this retweet!

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Dear Readers: I have a few items to share today before I start my profit-making activities.

A summary of my thoughts on Obama speech last night can be found here:


My husband, Horemheb, indicated that the O-bots crashed the House of Representatives email system. If you appreciate one of the House plans proposed, or simply don’t like Obama’s scare tactics, let them know. If you liked Boehner’s speech, let him know. A Legal Insurrection fan, Rose, added more contact information that I would like to share:

Office of the Speaker
H-232 The Capitol
Washington, DC 20515
Phone: (202) 225-0600
Fax: (202) 225-5117

◼ E-MAIL via webform: http://www.speaker.gov/Contact/
◼ FACEBOOK: http://www.facebook.com/OfficeofSpeakerBoehner
◼ TWITTER: http://www.twitter.com/SpeakerBoehner

Eric Cantor……….. (202) 225-2815…………(202) 225-0011
Paul Ryan………….(202) 225-3031………..(202) 225-3393

Mitch McConnell.. (202) 224-2541………….(202) 224-2499
Jon Kyl…………… (202) 224-4521………….(202) 224-2207

… let them know you appreciate what they are doing. Braveheart: “Hold! Hold! Hold!”

Look at that picture, I see some good hair. You know another person in the news who has good hair? Rick Perry. I came across an interesting article I wanted to share: Dear Yankee — Eight things you ought to know before you start writing stories about Rick Perry. You’re welcome.

5. Perry is not a male hair model. The late Molly Ivins coined the nickname Governor Goodhair, and it has stuck, especially with ­liberals and journalists from up north. It is true that Perry has a much-remarked-upon coif, but don’t let this lead you to assume that he’s soft, or feckless, like that other recent walking shampoo ad, John Edwards. Perry is a hard man. He is the kind of politician who would rather be feared than loved—or respected. And he has gotten his wish. Perry does not have many friends in the ­Legislature.

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Dear Readers: You have one assignment from the Goddess of Capitalism today — share this news bit far and wide:

…“The Speaker, Sen. Reid and Sen. McConnell all agreed on the general framework of a two-part plan. A short-term increase (with cuts greater than the increase), combined with a committee to find long-term savings before the rest of the increase would be considered. Sen. Reid took the bipartisan plan to the White House and the President said no.


Proof Obama has not been negotiating in good faith. Once this is understood, the remainder of this Kabuki Theater production is easy to follow.

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Dear Readers: Another post after reviewing the next, dramatic installment of the “Debt Ceiling Saga”. I have come to the conclusion that the President is under the erroneous assumption that if he manages to shut-down government, as Clinton did in 1995, he will ride onto victory in 2012 because the rascally Republicans will be blamed.

That is not how it is going to play out. Why?

It is quite clear to all of us paying attention via the new media that the Democrats had oodles of time to address both the debt ceiling and create a budget. In fact, I had Professor Athena chime in with her savvy financial perspective:

I can sum up my feelings about the debt ceiling problems in a few sentences. There has been ample time to fix this. Democrats have not passed a budget since 2009 (and which they are REQUIRED to do by law). Who is the leader of that party who cannot be bothered??? Oh! That adult who just came back from a golf outing to remind us to eat our peas.

Let’s all rush to do that. I was for cut, cap, and balance. Because I am after all a finance person. We can’t afford any more nonsense, and we all know most of the fat in the three big entitlement systems are just that — nonsense. But that said, we can afford Social Security with just a few tweaks, one of which needs to be that Congress is no longer ALLOWED to spend the Social Security Trust Fund. I am for raising the eligibility age, and other minor reforms. Social Security for everyone 50 and under should be a phased-in privatized deal. If Americans only realized how much compound interest the government was cheating them out of there, they would opt for that system with open arms. The investment in a (think similar to IRA rules) private social security account should be deductible from your earnings and could even be withheld, with a cap up to a certain amount just as we see for Roth IRAs. Stop letting the federal government spend our retirement. Where the other two are concerned, we can afford Medicaid if we limit it as originally designed for the very poor (annual income of $40k or below), everyone else buys private insurance or goes to a Medicare voucher system, as Paul Ryan explained. A combination of the two would also work to phase out the huge federal spending for this entitlement and the running of hospitals and medical practices by the government instead of physicians and those who deserve to practice medicine as opposed to Medicare reimbursement. Make Medicaid block grants to the states, who do a much better job with accountability.

Next month I start on the huge waste of public dollars and resources by our public school systems and why they are the equivalent of buggy whip factories in an I-Phone world…

Professor Athena is one of many business and finance leaders unhappy with the “vision” the White House has for this country.

And while both sides share the blame for this fiasco,
it is also apparent that John Boehner is no Newt Gingrich.

No matter what you may think of the House of Representative’s proposal, his press conference came from the gut, and was devoid of arrogance. It contrasted considerably from the Obama’s press snit. Keith Hennessey (via Instapundit) had an outstanding piece today, which indicates just how much Obama moved the goalpost and was undermining the deal he discussed with Boehner by using the “Gang of Six” proposal.

  • As of last weekend, the President was willing to support three individual tax rates, and the top rate would be less than 35 percent. Team Obama also agreed that the difference between the top individual and corporate rates would be limited.
  • After the Gang of Six released their plan, the President’s team backed away from this position.
  • In addition, Team Obama suddenly insisted that refundable tax outlays (for the poor) not be reduced by tax reform.

Professor Jacobson (Legal Insurrection) adds an interesting new dimension on the debt ceiling saga from yesterday: Obama may be trying to create a market panic on Monday for so the Republicans are forced to cave and give him even more power under the McConnell plan: I agree with the analysis with one big exception, the use of the terms “first time” and “entirely new.” In fact, talking down the markets and creating a sense of panic is one of the few things Obama has done well.

I hope to God that the Republicans can make their case forcefully on the Sunday talk shows, as we have seen several fine examples of this over the past couple of days (e.g., Senator Ron Johnson). I also hope my citizen activist friends stay fully engaged with the new media and avoid the distractions the elite media is going to offer.

If we stay strong, we may have an economy as good as Canada’s! 🙂 (Hat-tip, W.C. Varones).

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Dear Readers: Profit-center activities have kept me from opining regularly this week, which is a good thing. I do not think I have ever been more disgusted with the Ruling Class and the elite media during my lifetime than I have been this week, and it would have shown. Reading the comments from fellow citizens across this country, I came across the acronym FUBAR (fu##-ed up beyond all repair). That is the most succinct description of the debt ceiling situation.

All this drama, and in the end, it looks like our country’s AAA rating is still going to go down the crapper! Why? Not because of the chimera of the “debt ceiling”, but because most sensible financial institutions see the obvious — there are no controls on spending and no accountability for where the money is going or to whom.

Most of us Tea Party types have been anticipating that there will no be spending cuts and reductions in governmental control while the current crop of golf-playing establishment types are in charge. My disdain includes BOTH PARTIES. I will note that the Tea Party is now being blamed because we actually are holding all of our elected representatives accountable for this financial monstrosity — created by decades of back-room money “mulligans“. Dawn Wildman, President of the SoCal Tax Revolt Coalition (San Diego’s Tea Party Patriots), had this to say:

Minimal political fallout seen locally in debt debate

Dawn Wildman, president of the SoCal Tax Revolt Coalition, said there remains a misconception that members of the tea party were reluctant to support a plan that cut spending, capped future outlays and balanced the budget. That’s because the plans were tied to raising the debt ceiling, she said.

“We know the debt ceiling is going to get raised. We’re not living in a fantasy land,” said Wildman, also a state co-coordinator for the Tea Party Patriots. “But somebody has to stop, take a deep breath and say ‘You know, sometimes standing on principle matters.’”

Those who don’t, she added, would be held accountable.

When she was in a meeting with Sen. Mitch McConnell, author of the truly vile plan that would have placed “wet-blanket” Obama in charge of the debt ceiling level, his staffers all but ignored her. Our DC elites are quite upset we “Country Class” rubes, who actually have to balance our budgets, are trying to “play through” on this course.

Like many other Americans, including the inimitable Smitty of the Other McCain, I suspect the debt ceiling debate will slide past Aug. 2nd with a lot more drama and very little results. Meanwhile, the unexpected will continue to occur.

Meanwhile, many aspects have gotten lost in this hyped-up production.

Obamacare, anyone?????

Beers with Demo offered this chart, as a reminder of exactly how much a “wet blanket” Obamacare has been on real employment.

I thought the Nov. 2010 election sent people into Congress whose main focus would be on Obamacare’s repeal (or at least defunding, until a new President in 2013 could actually repeal it). WHY IS THERE NO MENTION OF OBAMACARE? WHY IS THE FUNDING FOR THIS NOT BEING NAMED AS PART OF ANY TRIMS ON THE SPENDING BEING OFFERED???

Furthermore, here is something Congress needs to know: A REDUCTION IN ANTICIPATED SPENDING IS NOT THE SAME THING AS A SPENDING CUT. That dog just won’t hunt anymore, so don’t embarrass yourself when trying to explain how good a “deal” is.

In the pre-Tea Party Days, the elite media would have shielded Obama's lack of real engagement so that the full scope oh his business-hating attitudes would have never seen the light of day. Without the new media, and citizen engagement, Republican citizens would have never have observed the full weakness and willingness to sell-out from their leaders. Shame, shame, and more shame — eternal shame.

B-daddy preps us for what is likely to be the real outcome, and what should be another worry: …any ten year deal can be undone by next year’s Congress. That should be obvious to all of us following the debate.

Keeping the golf analogy, this video summarizes the exact level of competency being offered by both Democrat and Republican representatives in Washington DC:

Americans will not forget in 2012.

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