Bring out the finger bowl so the Administration and the Democrats can wash their hands of responsibility for the nation's economic woes.
Secretary of Treasury Tim Geithner was asked over the weekend if the Obama Administration was "in any way responsible" for the credit rating downgrade by Standard & Poor's issued last Friday. Geithner responded "absolutely not."
If there are none of the White House's finger prints on the downgrade, then who is responsible? Geithner said "Congress owns it."
Not surprisingly, Senator John Kerry doesn’t think he and his Congressional colleagues are to blame. "This is a Tea Party downgrade" he said in an NBC interview.
Obama's hotshot campaign strategist David Axelrod echoed Kerry when he told CBS News that "this is essentially a Tea Party downgrade."
Do you think it possible that Axelrod and Kerry exchanged talking points?
This isn't the Tea Party's fault. The Tea Party came into being because they saw the same fiscal problems that S&P was sounding the alarm about, and has now seen fit to downgrade for the first time since 1917. The fact is that Kerry voted for and Axelrod promoted the agenda of the last three years that pushed the U.S. over this cliff: Stimulus, bailouts, ObamaCare, Cash for Clunkers – and Caulkers, etc, etc, etc…. Federal debt has increased $5 trillion, a 50 percent increase, on the Democrats watch, and now exceeds total annual GDP. The Tea Party sure didn't make Congress and Obama do that!
And, is sure wasn't the Tea Party that suggested to the Democrat controlled Senate that they not even bother adopting a budget any time in more than 800 days, even with the repeated warnings from S&P of possible downgrades due to the policies put forward by Obama and the Democrats.
Blaming the Tea Party for this downgrade is akin to blaming the guy who called 9-1-1 to report a fire for the building having burned down.
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Thursday April 17th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Wednesday April 16th, 2014 | John Ransom
New Time 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for Thursday April 10th, 2014 | John Ransom