I have my issues with Sarah Palin, but the crux of what she says here is right-on. Of course those who most desperately need to hear it won't listen, and the media has long ago written her off as a bumbling moron even though she's anything but. Speaking of bumbling moron, have they heard Obama's speeches lately?
Anyone with half a brain who was willing to reason could have seen this coming. If a bank is looking at issuing me credit they look, first and foremost, at my debt, my spending habits and my ability to pay down my debt in the future. If I made $30K / yr, spent, $90K, had outstanding debt of $300K and showed no willingness to cut spending I'd have to be a crackhead to expect to maintain a 750 credit score. I certainly wouldn't blame Equifax when my credit score plummeted.
Liberals can hem and haw about the other factors involved in S&P's analysis during the debt ceiling talks, be it global economic outlook, failure to raise taxes or the contentious political climate, but that doesn't change reality. Those are secondary issues. Reality is that we weren't downgraded because the Tea Party took us to the brink by being obstructionist. We were downgraded because we are spending too much bloody money!
Saturday, September 17, 2011
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