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Today the US stock markets fell again, as they have for the last several weeks, and it has nothing to do with the “deficit” and everything to do with the game of chicken that the GOP has been waging with not only increasing the debt limit but also the upcoming 2012 Federal Budget.  One needs only recall that the budget deficit was well over 100% in the final years of World War II, and the National Debt incurred by that war weighed upon the economy throughout the fifties, yet we managed to recover without having to go through a serious recession (and without dismantling Social Security either).

What the rating agencies Standard & Poor’s and Moody’s have explicitly stated in their warnings is that the twin issues of refusal to come to terms with the debt limit and an almost certain deadlock on the 2012 budget will make a ratings downgrade mandatory.  Hear that, GOP?  Are you listening, Paul Ryan?  Got your hearing aid plugged in, Mitch McConnell?  

The GOP are like eight-year-old boys playing with matches in a hay barn.  They are determined to wreck Social Security, Medicare, Medicaid and income stability for all Americans who make less than one million dollars a year, and they don’t care what they destroy to achieve their aims.  

The only ray of sun in all this mess is that the GOP have committed the colossal blunder of making the Ryan Budget Plan the litmus test for any viable presidential candidate.  Good luck with that guys.  With the Ryan Budget and Sarah Palin, who needs enemies?

Poll

What will sink the GOP at the polls in 2012?

68%11 votes
12%2 votes
6%1 votes
12%2 votes

| 16 votes | Vote | Results

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Comment Preferences

  •  Tip Jar (1+ / 0-)
    Recommended by:
    chrississippi

    "The best lack all conviction, while the worst
    Are full of passionate intensity." --W. B. Yeats

    by Pragmatus on Mon Jun 06, 2011 at 12:34:30 PM PDT

  •  Somebody here said earlier today that a financial (1+ / 0-)
    Recommended by:
    Pragmatus

    advisor was telling a friend that the stock market is going to tank ong>when GOPers don't raise the debt ceiling, and was advising people to get out of stocks. The point being that it's becoming more apparent that the GOP is more than willing to fuck up the economy to make sure Obama loses in 2012.

    Startling to think so, but who here really doubts that the Republicans are this destructive?

    •  What GOP is capable of (1+ / 0-)
      Recommended by:
      chrississippi

      All you have to do is look back to the period before the Civil War, when the nutbag party was the Democrats, whose obsession with slavery led them to support the most obscene positions and, I might add, directly prodded the nation into the war.

      I don't think the GOP is in mentality any different from the pre-Civil War Democratic Party.

      "The best lack all conviction, while the worst
      Are full of passionate intensity." --W. B. Yeats

      by Pragmatus on Mon Jun 06, 2011 at 12:53:56 PM PDT

      [ Parent ]

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