Those who have been following the fauxsterity from the spending behemoth in DC will not be surprised at this news. From Reuters, U.S. loses AAA credit rating from S&P: NEW YORK (Reuters) – The United States lost its top-notch AAA credit rating from Standard & Poor’s on Friday, in a dramatic reversal of fortune for […]
The so called grand compromise over the debt-ceiling was little more than window dressing. The real heavy lifting of deficit reduction, a task the congress is Constitutionally charged with, was “delegated” to a new, so called, super congress or super committee. This star chamber is to be made up of 12 members of congress. The […]
Yesterday I wrote of the consequences we face if the debt-ceiling is raised and if President Obama chooses to default. The reality is even worse. The compromise being sought by establishment Republicans, The Senate, and the president will ultimately lead to both higher inflation AND higher interest rates. A crushing double whammy on the US economy. The “limited magnitude” […]
Today on the Senate floor, Marco Rubio gave an incredible speech on the raising the debt ceiling debacle. He also did a rare thing — yield some of his time so John Kerry could interject some comments and questions to Rubio during his speech. I think you’ll like Rubio’s responses to Kerry’s questions. It’s good […]
Well, now that the GOP House has screwed the pooch and passed the Boehner debt ceiling increase bill, it’s worth reading Andy McCarthy’s Against the Boehner Plan to see what we got. To Thomas Sowell, the Boehner plan seems commendable because it would not only “spare the country a major economic disruption” but also “spare […]