So, I am sure we have all heard by now, the effect that the complete and catastrophic failure to raise the debt ceiling is going to cause: American debt default, Social Security checks may not be sent out, soldiers will not be paid, and quite possibly, the whole damned world may cease to exist. Democrats, in no real position to try to claim even an iota of financial responsibility, are now telling us that unless they are enabled to continue to spend as they have for the past two years, everyone’s life is going to get much, much tougher. It is a new spin on their old unspoken belief that they know better than Main Street, USA, how to run everything and spend tax dollars. Oh, no, silly taxpayer – it is not you who sees everyday, how valuable tax money could be used — it’s the politicians in Washington D.C. who know better. If you want to say something about it, well go ahead, and maybe we can get a pork-barrel project sent your way – with your Congressman’s name all over it, of course. The tax-and-spend-and-give-the-constituents-crumbs is a cycle which seems to have finally gotten so bad, that an entire political movement has risen up to try to bring it to a complete halt.
The excuses for why the government has so taken to tax dollars worse than ever before runs the gamut, from “It was the last guy’s fault we are running short now”, to the more dramatic, “It’s simple – if we do not get more money, the government (and all of its associated ‘freebies’ for people) are going to end.” Now, I have never been one easily swayed by threats and intimidation, and the dramatic, threatening tactics are just as wasted on children throwing fits in grocery stores aisles. Leading up to the current budget crisis/debt ceiling talks, it had always been my understanding of government that the legislative branch was supposed to prepare and pass a budget for the president’s signature. Except now, for the 800 and who-knows day, there has been no budget passed. The Senate happily plays whatever the president’s game is that week, and neglects the country’s most important business. They’ve done next to nothing to solve the current debt-ceiling fiasco, and seem perfectly content to allow six of its senators to cobble together a plan. This bi-partisan plan, the country’s financial savior as the left would have us believe, is long on hope, and short on actual details. I guess “hope” in D.C., is still recognized as some sort of political asset to be sold to the American people. The thing is, the people aren’t buying anymore. The president’s budget plan, when sent to the Senate was narrowly voted down, 97-0. Yes, that is right, not even the president’s own party would vote for his monstrosity.
The Senate’s “Gang of Six” plan would have the net effect of $3.75 trillion dollars in deficit reduction. When pressed for how the plan would actually work, the authors turned to the typical Washington explanation, “Trust us – it will really fix things.” Apparently, the easily-swayed-by-Senators President Obama was happy to sign on, anticipating a lower than expected cut to entitlements. Truth is, the plan does not seem to address any entitlement reforms at all. The earlier created, Mitch McConnell plan would have a $1.5 trillion deficit reduction effect. At this time, there is no point in even describing the McConnell plan, since the left is happy to support the useless G.O.6 plan, and the House of Representatives has passed “Cut, Cap, and Balance”.
So, where does this leave us? Moody’s, the company recognized as a trusted source of ratings for countries’ bonds, has threatened to downgrade the United States’ rating if nothing is done. The CCB plan, creates a deficit reduction of $6 trillion over ten years. Moody’s has said that to maintain a Aaa rating, the agency would need to see serious deficit reduction – their number? At least $4 trillion. Obama has gone on record as saying if the CCB plan somehow makes it through the Senate, he would veto it. So, I ask you readers – who’s fault would an “under funded” government be at that point? To think, all the years that the U.S. has enjoyed an Aaa bond rating. Of course, that was back when the Senate passed budgets as they are charged with doing.