Monday, August 8, 2011

So the Tea Party is to blame?

I have just about heard all I care to hear from these career politicians that the Tea Party is blame for the U.S.'s credit rating being lowered.  I hope the public can see that the REAL issue is that for too long this nation has spent, and spent, and SPENT beyond its means.  It is exactly like what happens in your home if you continue to spend more than you earn.  You will go into debt and that debt, along with the exponentially increasing cost of carrying that debt, will begin to spiral out of financial control.  The next step is the credit bureaus notice that you are carrying too much debt and are at a greater risk of defaulting on your debt and they lower your credit rating.  All the folks to whom you owe money see this and say, "Oops, we may not be able to get our money back from this guy.  Let's raise his interest rate so we can recoup our investment faster before he goes bankrupt."  Suddenly your expenses are raised, but your income has remained the same (if you are fortunate).  What are you to do?  If you have any sense, you quickly figure out how to reduce your spending.  If you don't, the debt just 'snowballs' out of control and you go bankrupt. 

This is where our nation is.  There are a few sensible people in congress who realize this and they are demanding our nation cut expenses.  So let's (referring to the career politicians who want to protect their phoney-baloney jobs) point to the commission's comment about the deadlock between parties being a part of the decision to lower the nation's credit rating and totally ignore the uncontrolled spending frenzy WE have carried on for decades!  Folks what this country needs is an end to entitlement programs and enforced term limits on all public offices.  We need to quite funding needless research programs with results that totally useless.

Wake up, America!  We are on the brink of chaos!  It is time to stop pointing fingers and admit that we have all played a part in creating the mess we are in.  Let's work to find a solution.

1 comment:

  1. This comment is from my long-time friend, Steve Prince: Gene, I enjoy reading your blog but "you are preaching to the choir." I agree with you. I was so disappointed with President Obama's speech today. The market took a dive today because investors are not satisfied that Congress did enough to get our debt under control. Not because of the Tea Party's actions.