HEADS UP folks!!! I'm watching foreign markets trading down over 2% right now!!! US futures markets are also down and indicate a nose dive when US markets open this morning. Everything is coming UNDONE! We're in for a FREE FALL! BRACE YOURSELVES! We were hit by the first financial TSUNAMI wave on Thursday. The wave went back out on Friday and now prepare for the second financial TSUNAMI WAVE to come in this morning with more force!
When Obama took over the presidency he knew our country was in trouble. Now let us examine his priorities: Obama spent his first TWO YEARS in office devoted to campaigning for his healthcare bill. AND what good is it with a COLLAPSED ECONOMY and HIGH UNEMPLOYMENT?!?! PLUS OBAMACARE DOESN'T TAKE FULL EFFECT UNTIL 2014!!! So let's RECAP when Obama became president our economy was screwed and he spent his first 2 YEARS campaigning for and getting the democrats to deem and pass a monstrous Healthcare legislation bill that doesn't even take full effect UNTIL 2014! Then Obama and Biden spent the rest of the time touting "THE SUMMER OF RECOVERY 2010" They spent a TRILLION in stimulus and we have NOTHING to show for it other than a COLLAPSED ECONOMY and HIGH UNEMPLOYMENT! I just want to remind everybody that the democrats CONTROLLED congress, the senate and the presidency for 2 years.
This is not a left or right issue! We merely want our federal government to be fiscally responsbile. LET'S PUT THINGS IN PERSPECTIVE SHALL WE: The National Debt stood at $10.626 trillion the day Mr. Obama was inaugurated on Jan 20, 2009. The National Debt today has hit an all time high of $14.576 trillion. The Debt increased $4.9 trillion during President Bush's 2 terms/8 YEARS. President Obama has increased our national debt by $4 TRILLION in 2 1/2 YEARS!!!
Our national debt to GDP ratio is now at 100%. We need to GROW our U.S. economy. Obama's policies that he has signed into law are strangling our economy.
When Obama took over the presidency he knew our country was in trouble. Now let us examine his priorities: Obama spent his first TWO YEARS in office devoted to campaigning for his healthcare bill. AND what good is it with a COLLAPSED ECONOMY and HIGH UNEMPLOYMENT?!?! PLUS OBAMACARE DOESN'T TAKE FULL EFFECT UNTIL 2014!!! So let's RECAP when Obama became president our economy was screwed and he spent his first 2 YEARS campaigning for and getting the democrats to deem and pass a monstrous Healthcare legislation bill that doesn't even take full effect UNTIL 2014! Then Obama and Biden spent the rest of the time touting "THE SUMMER OF RECOVERY 2010" They spent a TRILLION in stimulus and we have NOTHING to show for it other than a COLLAPSED ECONOMY and HIGH UNEMPLOYMENT! I just want to remind everybody that the democrats CONTROLLED congress, the senate and the presidency for 2 years.
This is not a left or right issue! We merely want our federal government to be fiscally responsbile. LET'S PUT THINGS IN PERSPECTIVE SHALL WE: The National Debt stood at $10.626 trillion the day Mr. Obama was inaugurated on Jan 20, 2009. The National Debt today has hit an all time high of $14.576 trillion. The Debt increased $4.9 trillion during President Bush's 2 terms/8 YEARS. President Obama has increased our national debt by $4 TRILLION in 2 1/2 YEARS!!!
Our national debt to GDP ratio is now at 100%. We need to GROW our U.S. economy. Obama's policies that he has signed into law are strangling our economy.
and when you hear Obama supporters or an Obama media mouthpiece reply well Bush did not include the cost of the two wars in our national debt. Turn around and let them know that Barack Obama has done the same!!! Please click HERE to read the entire article I posted on my blog 3/30/10. One More War Supplemental please! Oh and just a reminder, President Obama is paying for 4 WARS!!! Iraq, Afghanistan, Libya and Yemen!!!
Standard & Poors Research UpdateA huge chunk of the cost of the wars in Iraq and Afghanistan has been done outside of the regular congressional appropriations process through “supplemental” spending bills, which don’t count on the budget and mask the actual impact the wars are having on the deficit.
This is something Obama vowed to change on the campaign trail. “As President, Obama will end the abuse of the supplemental budgets, where much of the money has been lost, by creating system of oversight for war funds as stringent as in the regular budget,” a campaign document (.pdf) on defense spending stated.
Last April, Obama was forced to request a war supplemental from Congress because war money was running out and President Bush’s 2009 budget was still in effect. At the time vowed to make it the last.
But, last Thursday, the Administration was back in front of Congress asking for another supplemental for the Afghanistan surge:
August 5, 2011
Overview
- We have lowered our long-term sovereign credit rating on the United States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term rating.
- We have also removed both the short- and long-term ratings from CreditWatch negative.
- The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics.
- More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.
- Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.
- The outlook on the long-term rating is negative. We could lower the long-term rating to 'AA' within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.
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