Thank You Standard And Poors….

Thank you, Standard and Poors! Don’t let the president dissuade you, as he’s trying to do. And it’s going to take guts, as your authorization to rate comes from the FED. And the president wants to continue the great lie. It’s time STAND UP America.

And it’s time to bring the tiniest iota of common sense into government. Every housewife in the U.S. knows how to balance a budget…why doesn’t congress?

Rating agencies in the U.S. are partially responsible for the current mess we’re in; had they properly rated those loans Wall Street sold to investors in the U.S. and across the world, they would have never been sold in the first place and the problem would have been stopped before it began.

Now we face a downgrading of our country’s credit by Standard and Poors…sorry, folks, but I think it’s the proper thing for them to do and this time maybe by doing their job they’ll get the attention of those who refuse to close the country’s wallet. WE’VE GOT TO LIVE WITHIN OUR MEANS.

It’s not like we haven’t lost the respect of the world already, and maybe by being forced to be honest, we’ll regain some of it.

Barney Frank and Harry Reid led the charge into the quicksand of debt, and the rest of the sheep, both Democrat and Republican followed…and we refused to let them get sucked under in the last election.

It’s time to TTBO, throw the bums out. There’s not a gram of guts in congress, and until we get some folks elected with some courage, nothing is going to change.

This from Talking Points:

Eric Cantor: S&P Rating Hit A “Wake Up Call” For Debt Ceiling Vote
Benjy Sarlin | April 18, 2011, 12:23PM

Rep. Eric Cantor (R-VA)
Budget, Debt Ceiling, Eric Cantor

Reacting to the news that rating agency Standard & Poors is downgrading its outlook for the U.S. economy based on political gridlock over cutting the deficit, House Majority Leader Eric Cantor (R-VA) claimed vindication for the GOP. According to Cantor, the report strengthens the Republicans’ argument for holding out on a debt limit increase unless they can get major cuts as part of the deal.

The White House — and the bulk of mainstream economists — have warned that a failure to increase the debt limit would lead to an economic catastrophe.

“Serious reforms are needed to ensure America’s fiscal health, and today S&P sent a wake-up call to those in Washington asking Congress to blindly increase the debt limit,” Cantor said in a statement. “Today’s announcement makes clear that the debt limit increase proposed by the Obama Administration must be accompanied by meaningful fiscal reforms that immediately reduce federal spending and stop our nation from digging itself further into debt. For decades, Washington has blindly increased the debt limit while doing little to stop spending money that it doesn’t have, a dangerous pattern that must end. As S&P made clear, getting spending and our deficit under control can no longer be put off for another day, which is why House Republicans will only move forward on the President’s request to increase the debt limit if it is accompanied by serious reforms that immediately reduce federal spending and end the culture of debt in Washington.”

Left unmentioned: the same news story Cantor sent to reporters on the S&P move notes that the last time the agency downgraded their outlook on US debt was 1996, out of fear that the GOP would block a debt ceiling vote.

Update: Rep. Peter Welch (D-VT) released a joint demand from 114 House Democrats that the House hold a “clean” debt limit vote and claimed the S&P rating bolstered their argument.

“America pays its bills,” Welch said in a statement. “I hope Majority Leader Cantor and those in Congress seizing upon debt ceiling pressure as a ‘leverage opportunity’ are listening to the markets today and thinking twice about their risky strategy.

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