I love Rick Santelli's rants. He always puts notions that have fallen askew back in their proper perspective.
I agree with Rick that regardless of the details of the S&P report showing Republicans sharing the blame for not agreeing to tax increases to go with tax cuts, the most important thing we know is that we are on the WRONG PATH. History shows that with any increase in taxation, increases in spending are soon to follow (Parkinson's 2nd Law: Expenditures rise to meet income). And this is because the politicians act like they have more money for pet projects.
Plus, it's my opinion that S&P was attempting to be a bit too politically correct in trying to spread blame evenly. The Democrats were never interested in reducing the debt, and it took Republican (Tea Party) pressures for the Dems to consider ANY reductions in their horrendously high projected increases in the debt ceiling and runaway spending, both of which have become "routine." Remember, even after the downgrade President Obama made a speech promising more spending on even more social programs with money we don't have. They still think the solution is to spend, spend spend. THAT should've been at the top of the list of reasons for the downgrade, not because the Tea Party tried to stop the Democrats.
But the biggest reason of all to question the motives of S&P for any blame given to Republicans is that back in April they gave a negative outlook (threat to lower rating in future) if the government didn't reduce the deficit by $4 trillion, which Cut, Cap, and Balance would've done. It was the Republican party which tried very hard to pressure the Dems into passing this bill in order to avert a downgrade.
But the biggest reason of all to question the motives of S&P for any blame given to Republicans is that back in April they gave a negative outlook (threat to lower rating in future) if the government didn't reduce the deficit by $4 trillion, which Cut, Cap, and Balance would've done. It was the Republican party which tried very hard to pressure the Dems into passing this bill in order to avert a downgrade.
2 comments:
Why are you arguing with facts, Matt? Progressives don't care or acknowledge them. ;)
I have seen several liberals say that the Republicans should have just raised the debt ceiling first and THEN they all would have been willing to work together for meaningful spending cuts.
The absurdity of that is that they weren't willing to do that when the G.O.P. had the leverage of the debt ceiling available to try and make them cut spending. The thought that they would take that task seriously AFTER the fact is ridiculous.
Well, how can anyone work with Republicans when they make something as routine as raising the debt ceiling so darn complicated and frustrating. <--I wish I could remember the name of the democrat congresswoman who asked that question.
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