The "Debt Debate," as the media has dubbed it, only existed because Obamanomics have failed. If Washington could just be honest about that, we could have a conversation about how to fix the economy and move forward. But Liberals can't admit it, and I don't expect them to do so--it's an admission that Liberalism (including Keynesian economics) doesn't work. Never mind an entire century of modern history proving this inconvenient fact, we now have confirmed what we already knew and what Conservatives warned of nearly three years ago.
The Debt Debate proceeded with both sides arguing for tax increases, spending cuts, or a combination. If we cut out the noise and listen to what S&P has said we can get some clarity...
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.Why didn't S&P mention taxes in its outlook? Because everyone knows taxes will merely expedite the death spiral depriving the Free Market of the resources to recover. And yes, Liberals at the top know this as well--it was their plan all along.
The only way to prevent a future downgrade is to cut spending. The consequences of another downgrade could be higher interest rates which would force us to cut spending anyway. Why not do it now in a controlled manner?
Turns out Conservatives were right.
The Tea Party was right.
Cut spending = save America! Cap and reduce debt = save America!
Liberals, Dems, Obama were wrong (if you believe they wanted what's best for the country). We are past the point of Liberalism being a relatively harmless and redundant exercise. If they cannot acknowledge what their policies have done to this country, and stop, they move from the "radical" category into the "evil and dangerous" category.