Obamanomics – Dismantling The U.S. Economy One Brick At A Time

Obamanomics – Dismantling The U.S. Economy One Brick At A Time
Flopping Aces ^ | 04-18-11 | Curt

Posted on Monday, April 18, 2011 5:42:28 PM by Starman417
You know Obama's doublespeak is getting pretty damn bad when a lib like Jon Stewart calls him on it:
[VIDEO AT SITE]
On the heels of this "spending reduction in the tax code" baloney the Standard & Poor credit agency has officially downgraded the outlook for the debt in the United States:

Standard & Poor’s on Monday downgraded the outlook for the United States to negative, saying it believes there’s a risk U.S. policymakers may not reach agreement on how to address the country’s long-term fiscal pressures. “Because the U.S. has, relative to its ‘AAA’ peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable,” the agency said in a statement.
In an interview with CNBC, David Beers, S&P’s global head of sovereign ratings, said the agency has been “struck increasingly by the difference in how other governments are dealing with fiscal consolidation.”
“The U.S. to us looks to be an increasing outlier in that context,” Beers added.

As Kevin Williamson writes, this downgrade isn't the opening act of our downfall....it's the fat lady singing: (h/t Nan)

As one investment strategist put it to me this morning: We’ve been watching this train go by for a while now, and this is the caboose. ...A little over a year ago, the markets already were telling us that the government’s story about how it is finally going to fix its finances is pure fiction. Yields on U.S. Treasury bonds went higher than those on a number of blue-chip corporate bonds, leading your obedient servant to remark:

[snip]
Stealth tax hikes, no cuts in spending, no more drilling for oil, higher energy costs, higher costs for staples because of those higher energy costs…add these kinds of things together and you have to come to the conclusion that the man isn’t serious about fixing anything.
(Excerpt) Read more at floppingaces.net...