Another Quote On The U.S. Debt

"The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic." Presidential Candidate Barack Obama in Fargo, ND Campaign Event July 3, 2008

Remember, Barack Obama would not wear a U.S. Flag lapel pin on the campaign trail, preferring to find other methods for expressing his love for the USA and all it stands for; The U.S. Constitution and the rights it protects.

A Quote and an Observation

"The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government -- lest it come to dominate our lives and interests." - Founding Father Patrick Henry

I just read an interesting article on the "Debt Runup Race" between George W. Bush and Barack H. Obama. Bush took 96 months to add $4.9 trillion to the U.S. debt. In 31 months Obama added $4.0 trillion to the U.S. debt. Is Bush a slacker compared to the overachieving Obama?? Or is it the other way around, Bush is an overachiever in fiscal responsibility compared to Obama's tax and spend, rinse and repeat approach to the U.S. debt problem??? Unless Obama really puts the brakes on the pending train wreck of the U.S. debt, I think Obama's one term spending will make Bush look like a penny-pincher, not a common characteristic of a U.S. politician, regardless of party.

I'm in Love!!!

Wow, Amilya Antonetti,chairman and CEO of AMA productions, is even smarter than she is gorgeous. Here is a brief clip of her on Fox morning news with Neal Cavuto. Just watch this to see what I mean.

S & P lowers the U. S. credit rating to (gasp, moan ) . . . . AA+!!!

Standard & Poor reduced the U.S. government's long term credit rating to AA+. The good news is AA+ is the 2nd highest credit rating. Microsoft now has a higher credit rating than the U.S., but AA+ is still the envy of many governments and corporations. Ford Motor Company has a B+ rating, pretty impressive when you realize Ford did not request any stimulus, bailout or any other form of handouts from the U.S. government.

Here are a few fearless predictions on the effects of this historic event. (S&P has rated the U.S. government's long term debt at AAA since they first rated it in 1917)

1. No increase in the interest charged to the U.S. government. Remember, AA+ is still investment grade. Also remember lots of countries and the U.N. are dependent on the U.S. for protection from larger enemies.

2. We do have a large stockpile of thermonuclear weapons.(sarcasm alert!!)

3. We give away loads of money in foreign aid.

4. In the long term, The U.S. will learn a few valuable lessons and mend its ways. One of the biggest messages the election of 2010 sent to Washington was the lack of approval many voters have for the Pirates of the Potomac (our politicians). They believe D.C. suffers a severe lack of adult supervision.

Ignore all the finger pointing and blame setting. the U.S. did not get into this depression overnight because of one political party or one presidential administration. It took a long time and a lot of bad judgment by lots of people to get into this mess. It will take a while to undo the damage. The Japanese have a saying, fix the problem and not the blame. (Sean Connery to Wesley Snipes in Rising Sun, a great movie worth watching more than once )