Tag Archives: Credit Downgrade

Five Things The Liberal Left Do Not Want You To Know ABout the S&P Credit Downgrade!

1)  The liberal left says the S&P downgrade had to do with the Tea Party not wanting to raise taxes.  They hope you don’t read this:

  • Standard & Poor’s takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.’s finances on a sustainable footing.

2)  Despite the liberal left’s positon, it’s not just about taxes.  S&P prominently criticizes the political impossibilities of containing growth in public spending and reforming entitlements.  Is that the tea party’s fault too?

  • We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process.

3)   S&P noted that the debt ceiling deal didn’t raise the debt limit far enough.  Most folks should certainly recognize that as the Tea Party’s position!

  • We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

4)  Along with the deepness of the recession, the sluggishly terrible Obama “recovery” was another reason for their negative position.  Is the Tea Party responsible for the Obama’s failed economic policies too?

  • First, the revisions show that the recent recession was deeper than previously assumed, so the GDP this year is lower than previously thought in both nominal and real terms. Consequently, the debt burden is slightly higher. Second, the revised data highlight the sub-par path of the current economic recovery when compared with rebounds following previous post-war recessions. We believe the sluggish pace of the current economic recovery could be consistent with the experiences of countries that have had financial crises in which the slow process of debt deleveraging in the private sector leads to a persistent drag on demand. As a result, our downside case scenario assumes relatively modest real trend GDP growth of 2.5% and inflation of near 1.5% annually going forward.

5)  They might downgrade us again if they see “less reduction in spending” than was agreed to.  Of course we all know the Tea Party is also responsible for not cutting spending enough!

  • 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.

Left-Wing Progressives: Domestic Enemies

“All that is necessary for the triumph of evil is for good men to do nothing.”

~Edmund Burke

 

I live in East Tennessee where you can still find some honest, hardworking, conservative, blue-dog democrats.  Some of them are my friends.  It is sad for me … because for some reason, they cannot see that the Democratic Party they currently belong to is not the same Democratic Party their fathers and their grandfathers belonged to.  Over the last several years it has become very obvious that the Democratic Party has been taken over by the Liberal-Progressive Movement, which is simply a modern, sexier version of the Communist Party.

Many of you are too young to remember when the Communist Agenda was read before Congress back in the late 1960’s.  In this agenda, it was clearly stated that a goal of the communist party was to infiltrate one or both of America’s political parties.

Most folks have heard of Van Jones; Obama’s former green czar.  Van Jones is a self-confessed communist and a follower of George Soros.  Jones stated in 1992 that, “The Democratic Party has been purchased by the Communist Party.”  Van Jones is truly a snake, hiding his true agenda behind a red, white & blue cloaked American Dream campaign.

The heart and soul of the Democratic Party has been purchased over the last few decades with money provided by George Soros through the set up and use of 501C3 organizations such as Media Matters, MoveOn.Org, OneAmerica, and the Center for American Progress.

George Soros is a progressive, left-wing billionaire who currently resides in New York City.  A large part of Soros’ many billions-of-dollars fortune has come from manipulating other nation’s currencies and capitalizing on the resulting crisis.  Kinds of an odd thing for such a “benevolent” supporter of the unwashed masses to do … don’t you think?  During the 1997 Asian financial crisis, Malaysian Prime Minister Mahathir bin Mohamad accused him of bringing down the nation’s currency through his trading activities, and in Thailand he was labeled an “economic war criminal.”  Soros is known as “The Man who broke the Bank of England,” for initiating a British financial crisis by dumping 10 billion sterling, and forcing the devaluation of the currency. Soros profited $1 billion on that one.  There is also speculation that George Soros may have used insider information to hedge a bet of $1 billion at 10 to 1 odds that the U.S. would lose its AAA credit rating.

Soros was recently termed “the single most destructive leftist demagogue in the country.”  He has given vast sums of money (over $7 billion) to radical progressive left-wing causes including ACORN, the Center for American Progress, Apollo Alliance, National Council of La Raza, Tides Foundation, Huffington Post, Southern Poverty Law Center, Soujourners, People for the American Way, Planned Parenthood, and the National Organization for Women.  Soros would like nothing more than to see America controlled by world organizations like the UN, the World Bank, and the IMF; and he is the sponsor of the “Open Borders” campaign.  Can you say “New World Order?”

Media Matters, founded by David Brock, is a politically progressive media watchdog supposedly dedicated to “fairness” in the media reporting.  It is interesting to note that, not surprisingly, all the “unfair” media outlets, according to Media Matters, are conservative.  Media Matters is most known for its openly-declared War on Fox News and conservatives in general. Liberal-Progressive donors to the Communist (oops … my bad!  Democratic) Party gave Media Matters $2 million.  MoveOn.Org and the New Democratic Network have also contributed funding. George Soros gave Media Matters $1 million in 2010.

MoveOn.Org was formed in 1998 in response to the impeachment of President Bill Clinton.  It is a “progressive” public policy advocacy group and political action committee that has raised millions of dollars for candidates it identifies as “progressives” in the United States. George Soros gave $1.46 million to MoveOn.Org.  MoveOn.Org is most infamous for its comparison of George W. Bush to Adolf Hitler and its “General Petraeus or General Betray Us?” ads. Sean Hannity and Bill O’Reilly have both asserted that MoveOn.Org basically owns the Democratic Party and that George Soros owns MoveOn.Org.  This claim stems from an email composed by Eli Pariser (Board President for MoveOn.Org), and others, stating that, in regards to the Democratic Party: “Grassroots contributors like us … bought it, we own it, and we’re going to take it back.”

OneAmerica (and its PAC OneAmericaVotes) became famous when it was discovered that OneAmerica Votes (OAV) was using illegal aliens as campaign workers manning phone banks and going door-to-door. This group was formerly known as “Hate Free Zone” and is a Seattle-based “immigrant’s rights” group that is tied to George Soros’ “Open Borders” campaign.  Although this group was clearly raising and spending massive sums of money to influence state election campaigns, it did not register with the PDC or report its receipts and expenditures.  Major illegal!  According to their funding report, you will find that George Soros and the SEIU are contributors to this organization.

Center for American Progress is headed by John Podesta, White House chief of staff under President Clinton.  The Center for American Progress has been instrumental in providing progressive talking points and policy positions for the Obama administration.  There has also been a revolving door between the White House and the Soros-funded think tank, with Obama staffing his administration with many CAP officials

It is interesting to note that 501C3 organizations, such as these, are tax exempt charities, and are PROHIBITED by law from campaigning on the behalf of any candidate for political office, lobbying to influence legislation, or breaking the law or encouraging people to break the law (such as by hiring illegal aliens):

Political Campaign Activity

Under the Internal Revenue Code, all section 501(c)(3) organizations are absolutely prohibited from directly or indirectly participating in, or intervening in, any political campaign on behalf of (or in opposition to) any candidate for elective public office. Contributions to political campaign funds or public statements of position (verbal or written) made on behalf of the organization in favor of or in opposition to any candidate for public office clearly violate the prohibition against political campaign activity. Violation of this prohibition may result in denial or revocation of tax-exempt status and the imposition of certain excise tax.

Lobbying Activity

In general, no organization may qualify for section 501(c)(3) status if a substantial part of its activities is attempting to influence legislation (commonly known as lobbying)…

An organization will be regarded as attempting to influence legislation if it contacts, or urges the public to contact, members or employees of a legislative body for the purpose of proposing, supporting, or opposing legislation, or if the organization advocates the adoption or rejection of legislation.

Activities that are Illegal or Contrary to Public Policy

Violation of constitutionally valid laws is inconsistent with exemption under IRC 501(c)(3). As a matter of trust law, one of the main sources of the general law of charity, planned activities that violate laws are not in furtherance of a charitable purpose…

Thus, all charitable trusts (and by implication all charitable organizations, regardless of their form) are subject to the requirement that their purpose may not be illegal or contrary to public policy.

It is not surprising that these minor details have never concerned any tax exempt organization that supports left-wing liberal-progressives; nor has it kept Democrats from reporting alleged conservative 501C3 violations.  For them it is a win-at-any-cost mentality. Honesty, ethics, integrity, honor, the rule-of-law, and the Constitution are just meaningless words to these people.  Imagine that … just another bit of proof that liberal progressives only pay lip service to “democracy” in their attempt to destroy our constitutional representative republic and replace it with a “benevolent” Obama-led progressive dictatorship.

I can only hope that my truly “American” democrat friends will wake up to this before it is too late.  It would be so nice to someday again live in an America that has FAIR & HONEST Democrats…

When will Obama step up and be a man?

It is interesting to me how the current administration is so child-like in its actions.  One of the signs a child is becoming an adult is the willingness to accept responsibility for one’s own actions.  In light of the recent U.S. credit rating downgrade, democrats are scurrying to place the blame wherever they can.  Barney Frank, famous for his part in the Fannie May/ Freddie Mac fiasco, is blaming the U.S. military.  John Kerry, Howard Dean, and David Axelrod are, of course, blaming the “terrorist” organization known as the Tea Party (which while expected, is so blatently absurd it defies comprehension).  

The Tea Party conservatives are the only ones who offered any real plans to fix the problem;  i.e. Cut, Cap, and Balance and Mack’s Penny Plan.  The Tea Party has consistently fought against the dangerous borrowing and out-of-control spending  by both the  spend-happy Democrats and the fiscally irresponsible Republicans, that have caused this problem. 

The current administration (as in Obama’s administration), would hear none of it!!!

Back when our schools actually taught reading, writing, mathematics, and some personal integrity (rather than simply how to get by and work the government entitlement system), even an eight-grader would have realized that you cannot borrow 40 cents of every dollar you spend for very long without creating disasterous results.

It is interesting to note that S&P never mentioned a “lack of revenue or more taxes” problem; but was clearly focused on America’s sky-rocketing debt and out-of-control spending.  S&P had also let it be known that if  Congress could pass $4 trillion in real spending cuts, say as in CUT, CAP, AND BALANCE, the government could have avoided the credit rating downgrade!  And a furious Obama, in his day-late and dollar-short press conference, lashed out at S&P for trying to sabotage his presidency. 

The fact is that a year ago, Obama’s own Simpson-Bowles Debt Commission recommended many of the same measures included in the Cut, Cap & Balance plan, but of course Obama, being Omniscient, would not listen.  Instead we got this ludicris “compromise” in which the “proposed budget cuts” included in the plan were wiped out in one day of government spendng.  Democrats are just so good at playing the blame game!  Here are some more examples:

  • Obama blames wrangling for “downgrade”
  • Obama blames Reagan for America’s debt and out-of-control spending
  • Obama blames ATMS for high unemployment
  • Obama blames Arab Spring and Tsunami in Japan for lack of jobs
  • Obama blames YOU for high gas prices
  • Obama blames lazy oil companies for America’s energy shortfall
  • Obama blames Congress for Jobs
  • Obama blames U.S. high schools for dissing him
  • Obama blames everyone else on oil prices
  • Obama blames Bush, media and American consumers for craptastic economy
  • Obama blames everyone for everything

Hmmm! I am begining to see a trend here … can you? 

I did read that Obama is talking to a former Reagon aid (an expert on using trickle-down Reagonomics) to fix the debt problem … hmmmm!