If the stock markets continue their roller coaster ride this week, blame 4,823 straw poll voters in Iowa. After all, the S&P made clear that its historic downgrade of America’s credit rating was not a reaction to government debt and spending levels but, rather, the irresponsible and reckless fact that “people in the political arena were even talking about a potential default.” Yet here come 4,823 Ames straw poll voters endorsing Michele Bachmann, head cheerleader for defaulting on our nation’s debts.
Perhaps their judgment was clouded by fried butter. But it’s our economy that will suffer the heart attack. If the markets have yet another precarious week, blame Michele Bachmann.
After all, Bachmann’s the one who led the absolutist Tea Party charge against increasing the debt ceiling and said that default would not lead to a credit downgrade. But Bachmann also said that high unemployment and a struggling economy would help her chances at winning the presidency. “I hope so,” Bachmann quipped, literally cheering on national economic decline.
Republicans are accusing President Obama and Democrats of trying to pass the blame on the S&P downgrade and resulting market declines. But the S&P has made it unquestionably clear that the rhetoric and actions of anti-government zealots like Michele Bachmann caused this disaster.
Still, 4,823 Iowans voted for Bachmann. This week, Wall Street will feel the aftershocks. Going forward, all of us — especially the 25 million out of work Americans — will pay the price.
My thoughts on debt ceiling negotiations and Republican “ideological terrorism”; and a coda on June jobs report >> If you want to receive my adVantage Points every weekday morning in your inbox, email email@example.com
Republican “Ideological Terrorism” on Debt Talks - story
What once seemed like hyperbole is now an understatement: The Republicans are “ideological terrorists” willing to blow up our entire economy for the sake of petty ideology. The fact that we’re even talking about spending cuts at a time when we need government stimulus more than ever is a nod to their ideological victory to date. But that’s not enough. In addition to billions in cuts that will cripple the middle class, Republicans stubbornly refuse to consider any tax increases on the richest of the rich who are paying historically low taxes and still not creating jobs. Enough is enough. President Obama needs to call their bluff and let Republicans take the blame for default. The United States does not negotiate with ideological terrorists.
My thoughts on unemployment rate, debt negotiations, 14th Amendment option, space shuttle launch and Texas execution of a Mexican citizen >> By the way, if you want to receive my adVantage Points every weekday morning in your inbox, email firstname.lastname@example.org
Unemployment Rate Edges Up to 9.2% - story
Wall Street profits and CEO bonuses are at record highs this year. But unemployment continues to plague middle class Americans. Oooooh, I know — let’s give the rich people more tax breaks! ’Cuz that already worked well so far…
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