"I'm Calling..."

"Bullshit On This..."

Well... it's August 2nd... the much feared economic melt~down date according to President Obama and his cronies colleagues...   he has told us that if we didn't have an end to the debt ceiling crisis by now, that our credit rating would be lowered, and all Hell would break loose...

It hasn't yet... and of course, if we are dumb enough to believe that the passage of whatever this bullshit legislation is will stop the economic collapse that we are heading towards, we deserve whatever happens to us.  


Yesterday, Vice-President JoeBiden (the male, Democrat equivalent of Sarah Palin) was mentioned to have referred to some 'Tea Party' representatives as terrorists that were holding the legislation hostage...

... so I started looking for information online that indicated that anyone would possibly stand in the way of refusing to raise the debt ceiling so that our government could continue to borrow and spend monies that we don't have in order to keep running...


I found this...


"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. 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. … Increasing America’s debt weakens us domestically and internationally. 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 problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit."


Damn... it DOES sound like someone may have been wanting to derail the efforts to raise the debt ceiling... Could it have been Boehner? ... or  Bachmann?? Or some other rogue Tea Party-ist or Republican??


Nope, this quote comes from 2006, when then U.S. Senator Barack Hussein Obama was speaking against a request by President Bush wanting to do something similar to what President Obama is wanting to do now...  in fact, President Obama thought it to be such a bad idea that he voted against two requests for debt ceiling hikes requested by the Bush Administration...


If we can then believe President Obama to be speaking the truth, has he admitted to 'leadership failure?'

I was NOT happy with the Bush Administration and their level of  spending...  and I have to admit to being quite shocked when I heard on one of the Sunday Morning Pundit Talk shows that it was estimated that the Bush  Administration was spending roughly $1.5 Billion per day compared to the Obama Administration's current clip of about $4.3 Billion per day...

I am thinking... given my current income level, that if I had the ratio-to-debt figures that our Federal Government does... and that if I had to borrow money from a lending institution to pay my bills just to exist...  do you think that lending institution would lend  money to me?


If the banks were dumb enough to lend money to me, what interest rate do you think they would charge to justify the risk of my not being able to pay them back the money I would owe... plus interest??

Do you know that China owns the largest amount of our Treasury Bonds?  Last time I looked, Japan was the second largest owner of our debt... The good news about government securities is that they are not 'callable'... that means that the owner of the debt can call for repayment on demand...  That prevents China from being able to place us over a barrel and demand payment for those bonds when we don't have any money... like right now.



The Federal Government should be worrying, however, about China... their economy is NOT doing well... if their money should dry up... who will buy our debt?? Who will lend money to us??


I don't know if the Senate has voted to ok whatever nonsense that was that the House voted on and approved yesterday... it doesn't matter...  If I were a rating agency, I would have down-rated our government's ability to repay its debt a long time ago...


... and quietly throughout all of this... have any of you noticed that we have 'settled' for about $3.75 per gallon as the 'normal' price for gasoline?


I would love to see consistency on the part of our politicians... either party... both parties...

I tend to be an optimist about things like this, but...

I fear we are greatly fucked...

I hope I'm wrong...

but I don't think so...

~shoes~