Scare tactics backfire into a financial downgrade

The old adage.. actions speak louder then words... is true. But when the rhetoric is composed of words like:

 Armageddon, default, debt crisis, withholding social security checks, financial meltdown, etc, 





 combined with not following one directive from the Simpson-Bowles Commission (appointed by Obama) and throw in the Cut-Cap & Balance Bill presented by the House, dismissed by Democrats, is the reason we had downgrade. 

In roughly 31 months in office this guy has raised the debt ceiling 40%. After the debt ceiling bill passed we are looking at another $2.4 trillion added to the debt, the highest in the history of the country!

When Bush left office the national debt was $10.7 trillion. How much of that was related directly or indirectly to 911 I don't know. Nevertheless it was a staggering amount and if we were downgraded then I couldn't come up with a compelling argument against it.

Since March 1962, the debt ceiling has been raised 74 times, according to the Congressional Research Service. Both parties are to blame.

Why does Congress even bother to set a debt limit? In theory, the limit is supposed to help Congress control spending. In reality, it doesn't.

Every time the debt limit needs to be raised, lawmakers and the president are forced to take stock of the country's fiscal direction, which isn't a bad thing necessarily.

But the decision about how high to set the ceiling is divorced from lawmakers' decisions to pass spending hikes and tax cuts. It's also made after the fact, so it doesn't do much to pull in the purse strings.

That's why budget experts say it would be better to tie the debt limit decision to lawmakers' legislative actions.

That's why we need a balanced budget amendment..NOW!

Proving once again this administration has no clue.

Is it they can't see a problem, or they don't want to see it?

Scare tactics backfire into a financial downgrade