Dollar Sign


Here are the facts:
Prior to the downgrade, S&P, Moody’s and even the IMF had told us exactly what Amercia’s problem was. The crisis was overspending. The solution was that we needed to shave $4 trillion from the deficit. There was no requirement to increase taxes or for that matter to do much more than cut spending. Everyone knew it.
So we shaved a very questionable two trillion from the budget and unrolled George Bush’s Mission Accomplished banner.
S&P responded by doing exactly what they said they would do: they downgraded US debt.
The real crisis is leadership. Boehner, Obama and Reid all knew where the goal line was, and then instead of compromising to reach the goal line, they compromised with the goal line.  It was the worst call in the history of American democracy. It was breathtakingly stupid.
So is American democracy broken completely?  Will there be British-style riots in the streets as  pre-revolutionary as Rasmussen pollster Pat Caddell predicts?  Not likely.  We are too close to a presidential election.
That said, we need someone who knows what they are doing to run for office. The time for likable losers is over.

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