By John W. Lillpop
Worried about August 2 and the financial “Armageddon” that will allegedly wipe out the U.S. and the world if the debt-ceiling is not raised by then?
Forget August 2, patriot!
Thanks to genius unleashed in Washington D.C., the drop dead mark has been moved up to 4pm, EST.
According to financial wizards(the same who failed to keep America from falling into this mess to begin with), the Congress must solve the crisis by this afternoon in order to prevent the “markets” from melting down in Asia, and snowballing into complete disaster on Wall Street come Monday.
Thus, Congressional critters are working this Sunday in a heated rush to show Asia that Yankee ingenuity and Exceptionalism are still formidable, the Presidency of Barack Hussein Obama notwithstanding.
But would America actually be better off if our vaunted AAA credit rating was knocked down a notch or two?
As it now stands, America is cursed by the presence of Democrats in the White House and U.S. Senate who refuse to accept the fact that reckless, irresponsible spending must be halted in order to assure the long-term solvency of the American economy, and our democracy itself.
Yet, despite all the warnings, Democrats continue to pursue the “spend and tax agenda” that has America reeling out of control and on the brink of bankruptcy.
Part of the “problem” may be our cherished AAA credit rating, which makes it possible for Harry Reid, Nancy Pelosi, and Barack Obama to continue the pattern of spending like drunken sailors with impunity.
Default and downgrade, unthinkable to most, might just provide the medicine needed to treat the liberal addiction to excessive spending.
Would America be better off, in the long-term, if the ability of our government to borrow additional sums, which we cannot afford, was involuntarily reduced by downgrade of our credit?
At least until the American people can remove woefully ignorant and reckless progressives from the White House and Senate in November 2012?