First of all, this debt ceiling issue is critical and could literally lead to the complete collapse of the United States.
The U.S. dollar is the official global “reserve” currency. Commodities such as oil are bought and sold exclusively in dollars. And because of this status, the United States is not only able to purchase these commodities much more cheaply than other nations, but it can borrow more and finance its debt at far cheaper interest rates.
Here is an article dated 10 February 2011 containing a VERY ominous threat to the status of the dollars as the reserve currency:
NEW YORK (CNNMoney) — The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world’s reserve currency.
Major countries such as China, Russia, India and Brazil have already determined that they want to END the almighty status of the U.S. dollar.
And note all of these articles precede the current “debt ceiling fiasco.” Which is to say that this was ALREADY a growing crisis.
If the United States defaults on any of its debt – or even if the U.S. credit rating is downgraded - the consequences could be utterly devastating. Our low interest rates will shoot upward beyond our ability to continue financing debt; we will suddenly have economy-killing oil and commodity prices.
This wouldn’t have been such a terrible crisis if Obama had been honest and promised that the U.S. would and could meet its obligations. Instead he used the debt ceiling deadline (said “deadline” already having been changed three previous times) to dishonestly demagogue and fearmonger the crisis ala Rahm Emanuel’s “never let a serious crisis go to waste” advice. In short, OBAMA LARGELY MANUFACTURED THIS CRISIS. Because all the rating agencies have done is take Obama’s demagogic rhetoric seriously.
I have said a number of times on this blog that when the Unites States financially implodes, it will happen very fast. And this could be the last card in the house that makes the whole unstable structure come crashing down.
And here’s the thing. Who is leading America through this minefield?
Barack Hussein Obama.
He is THE most inexperienced and unqualified president in U.S. history. Hillary Clinton RIGHTLY ran the “3 A.M.” ad against him:
Sen. Joe Biden (D-DE) Reaffirmed That Obama Was Not Ready To Be Commander In Chief. ABC‘s George Stephanopoulos: “You were asked is he ready. You said ‘I think he can be ready, but right now I don’t believe he is. The presidency is not something that lends itself to on-the-job training.’” Sen. Biden: “I think that I stand by the statement.” (ABC’s “This Week,” 8/19/07)
Sen. Biden: “Having talking points on foreign policy doesn’t get you there.” (“Biden Lashes Out At Obama,” ABC News’ “Political Radar” Blog, blogs.abcnews.com, 8/2/07)
Barack Obama’s primary qualification for being president was that he had been a U.S. Senator for only 142 days prior to announcing his run for the presidency. Prior to that, he had been a nobody. He had been a nobody Illinois state senator. He had been a community agitator. He had NEVER ran a business and he had NEVER met a payroll.
Barack Obama is also THE most liberal and radical president. He was THE most liberal Senator in the entire nation prior to announcing his run for the presidency.
“President Barack Obama is the most polarizing president in American history, according to a poll released by the Gallup organization Monday.
The average difference in Obama’s approval ratings between Democrats and Republicans turned out to be 65 percent — the highest first-year gap of any president so measured.”
And Obama is the most cynical and dishonest president in United States history.
Obama ran as a transformative candidate who would transcend the political divides. As the New York Times wrote:
WASHINGTON — At the core of Senator Barack Obama’s presidential campaign is a promise that he can transcend the starkly red-and-blue politics of the last 15 years, end the partisan and ideological wars and build a new governing majority.
To achieve the change the country wants, he says, “we need a leader who can finally move beyond the divisive politics of Washington and bring Democrats, independents and Republicans together to get things done.”
But this promise leads, inevitably, to a question: Can such a majority be built and led by Mr. Obama, whose voting record was, by one ranking, the most liberal in the Senate last year?
History proves that was an evil lie. You just TRY to show me how this country is more unified now than it had been. Anybody who isn’t an abject MORON knows that’s ridiculous. And if you’re a liberal and want to argue that Obama’s failure to fulfill the above promises was somehow all Republicans’ faults, then let me simply point out that it was an incredibly STUPID as well as incredibly dishonest and cynical promise to make. Because only the worst and frankly most demented of fools would not have realized that the other party would not follow him like some pied piper.
But when you read my article that refers to the New York Times article above, you will immediately see that Obama never even bothered to TRY to live up to his “core promise.” He was divisive and imperious from his very first day. Obama poisoned the well between Democrats and Republicans with his “I won” crap. He shoved a “stimulus” that ultimately was a $3.27 TRILLION Keynesian boondoggle down the nation’s throat on a bunch of false promises that it would create jobs and get America out of recession. He shoved a terribly unpopular socialist takeover of our medical system. Everything the man has done has polarized and divided the nation.
By the way, Obama’s dishonesty literally permeates from Obama’s very first decision to even break his promise and run for president:
SEN. OBAMA: I will serve out my full six-year term. You know, Tim, if you get asked enough, sooner or later you get weary and you start looking for new ways of saying things, but my thinking has not changed.
MR. RUSSERT: But, but—so you will not run for president or vice president in 2008?
SEN. OBAMA: I will not.
Governor Chris Christie has similarly promised he would not run for president. I have a feeling that Christie is a far more honest man than Obama and will stick to his word. More on that later.
Obama began his presidency by breaking his promise not to run for president. Obama’s “core promise” is now clearly revealed to have been a cynical lie. The man has lied without shame so many times it is unreal. And it becomes ridiculous to try to keep track of his lies.
Obama is also a pathetic incompetent. He is a disgrace to the presidency. He presided over a Democrat Party that had complete control of both the House and the Senate and his government couldn’t even produce a budget. It was an unprecedented dereliction of a basic duty. And we’re at something like the 815 day mark since the Democrats last passed a budget. And Obama was the man in charge of this abject fiasco.
And then when Obama himself finally came up with a budget earlier this year, it was just a useless piece of garbage that it was voted down 97-0 in the DEMOCRAT-CONTROLLED United States Senate, with not even one DEMOCRAT able to say, “This budget WASN’T the brain-dead result of a complete fool who is an utter disgrace to this country.” Obama is out doing press conference after press conference pretending that he wants to reduce the deficit; BULLCRAP! That terrible budget fiasco he submitted would have added $12 TRILLION to our debt!!!
And if you’re fool enough to try to argue that Obama ISN’T incompetent, you explain those two facts. You explain how Obama and his party could preside over this kind of complete failure to perform even the most basic function of governance.
Yesterday Harry Reid shut down any vote of the House-passed cut, cap and balance bill. That bill has the distinction of being the ONLY bill that has passed either house of Congress or the White House that would solve our debt ceiling crisis, for what it’s worth. No vote. No debate. Harry Reid just shut both down using his status as Majority Leader. Reid called the cut, cap and balance bill “weak and senseless” and “perhaps some of the worst legislation in the history of this country.” Apparently because this racist bigot Reid liked the Fugitive Slave Act that his Democrat party once passed.
Meanwhile, the Democrats who refused to even DEBATE or VOTE on the ONLY bill that ANYBODY has passed to solve our debt crisis continue to say that Republicans are “unreasonable.” Because apparently shutting down discussion on the ONLY piece of legislation we’ve got to save this country is “reasonable.”
So Democrats don’t have anything to offer but demagoguery and demonization.
Obama is discussing some kind of deal without bothering to have anything on the table. Speaker of the House Boehner has described negotiating with Obama as trying to negotiate with Jello that’s been left out of the refrigerator. He’s all over the place because he doesn’t have any proposal of his own to adhere to.
SEN. KYL: But we have no idea what he’s talking about. That’s the problem. Republicans are not willing to make a deal based upon some vague commitment that, sometime in the future, the president might be willing to look at something that he won’t identify.
It is an abject disgrace and a complete failure of leadership that Obama doesn’t have a plan to argue from or rally consensus to.
Oh, oh. I just said “failure of leadership.” Which forces me to quote Barack Obama on what even asking for an increase in the debt ceiling means in his own words:
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure,” he said. “It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America’s debt limit.”
That remark from Barack Obama alone epitomizes why this fool has ZERO BUSINESS being president of the United States. The VERY WORST THING any Democrat can possibly say about Republicans is that they are being as despicable and cynical as THEIR OWN WORTHLESS DISGRACE OF A PRESIDENT.
How DARE this fraud lecture anybody about anything related to the debt ceiling after his own shrill demagoguery?!?!?
And so here we are. We’ve got a president who is clearly incompetent, who has proven himself untrustworthy, attempting to pass a deal without having any kind of a plan whatsoever about what he wants to get done. Republicans have nothing to examine and nobody to trust.
Republicans have been burned more than once by dishonest Democrats who want tax hikes now and promise cuts later. The fact of the matter is that no agreement can bind a future Congress.
We may well be going down because we voted for the Antichrist’s useful idiot. In voting for Barack Obama, we voted to cut our own throats.
Just remember this is God damn America. And we’re getting precisely what we voted for.
One last thing. The ONLY reason we “need” to raise our debt ceiling is because Washington CANNOT get it’s act together and CANNOT stop itself from reckless spending. We need to cut spending, not raise our debt ceilings over and over again. We need a balanced budget amendment, not four more years of Obama’s reckless policies.