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The Debt Downgrade is the Best Thing that could have Happened to America

NEW YORK -

 

There are many who would think this title is crazy, but that’s because they may not understand the full scope of what is happening. The country’s debt has tripled in the last few years from $5 trillion to near $15 trillion, and all the President and the fools in Congress can talk about is cutting the rate of growth of government.  Our national debt is at 100% of GDP, meaning our national debt exceeds our economic output.

The President and Congress pretend that, because the debt will only grow by $7 trillion over the next 10 years instead of $9 trillion, they’ve actually fixed the problem.  Fools, all of them.  We have over $100 trillion in unfunded liabilities to Social Security, Medicare and Medicaid, which is more than six times the debt.

This is part of the reason The S&P  downgraded our debt.

Dave Ramsey made a good point: “If the US Government was a family, they would be making $58,000 a year, they spend $75,000 a year and have $327,000 in credit card debt. They are currently proposing big spending cuts to reduce their spending to $72,000 a year.”

Here’s the scoop.  They think that they can monetize the debt by printing money and borrowing more to pay the service on the debt and that the rest of the world is fine with it.  All currencies are based upon the dollar and therefore will be hurt as well.  If we keep on this path, the world will eventually drop the dollar as the reserve currency, thus forcing sovereign nations to sell their dollars for more stable currencies.  This will further erode our dollar’s buying power, thus ushering in hyperinflation.  That’s the real debt ceiling, one that can’t be raised by a vote of a bunch of America-hating congressman who only cares about being re-elected.

Ben Bernanke is a crack head.  Hyperinflation is already here, but because the princes in government took food and energy from the inflation readings, they’re able to pretend it isn’t.  They pretend that, because we have deflation in the things we want and inflation in the things we need, we actually have low inflation.  But when you can’t afford the things you need, you normally have to sacrifice some of the things you want- that’s life.  But crack heads aren’t really acclimated to life and for that reason, Bernanke’s kept the Fed Funds rate near zero, allowing banks to borrow money for free and then invest in the stock market and government bonds instead of lending it to folks that may not be as secure as the government.  Well, the party’s nearing its end.

If he won’t raise the rates, the buyers of bonds will.  With the lowered credit rating, the United States government will have to eventually pay more interest if it is to borrow money by selling bonds.  This will force all the the cost of debt service to be raised for the future, thus forcing the spendaholics in Washington to come to terms with the reality that the US is broke.

Sure, there’s going to be pain for everyone, but it’s a choice between pain now or societal collapse later.  If the dollar falls, all currencies fall, because they’re all based on the dollar.  I don’t mean to sound unpatriotic, but this is the kick in the head Obama needed.  His Marxist teachings haven’t equipped him with the knowledge of economics needed to run the free world.  His education is all theory from Karl Marx, who never worked a day in his life.  He just lived off his buddy Engle’s family money while he theorized a world of wealth redistribution without ever addressing the question that ultimately needs to be answered:  “What do you do when all the wealth is gone?”

We at the Frederick Douglass Foundation of New York are not rooting against America.  We’re rooting against America’s government, which refuses to listen to the will of the people.  Instead of listening to the Tea Party, which is for less government and for a fiscal responsibility, they’ve scoffed at the only people in the United States who are making sense.

 

Ayesha Kreutz, President of the Frederick Douglass Foundation of New York, had this to say “ When I think about America today, this debt crisis and how the left calls us Tea Party folks and Republicans racists and demonize us for disagreeing with socialism and Marxism and communism, I cannot help but think of the last three commandments, EIGHT: ‘You shall not steal.’ – because all big government wants to do is take more of our money.  NINE: ‘You shall not bear false witness against your neighbor.’ – because they call all those who oppose Obama’s socialism racists.  TEN: ‘You shall not covet your neighbor’s house; you shall not covet your neighbor’s wife, nor his male servant, nor his female servant, nor his ox, nor his donkey, nor anything that is your neighbor’s. – because of their tactics of class warfare.”

She went on to say “Our focus should be on revival and focusing hearts and minds on the one and only True living God Jesus Christ.”

 

Instead, Obama’s been served a nice plate of maggot-infested crow.  Eat up buddy.  The country can’t afford your largesse.  And the rest of the world is getting sick and tired of you too.  On Obama’s 50th birthday, the stock market went down 512 points to signify that investors didn’t like the fact that he was given another $2.4 trillion in borrowed money to blow over the next year and a half to buy votes.  It went down ten points for every year that he will have lived by the time the people of America will get the chance to sign his pink slip in November of 2012.  Hopefully, we’ll still be able to afford the gas to get us to the polls.

Congratulations big guy, you’re the president who earned our country a downgrade on its full faith and credit.  And it wasn’t like President George W. Bush left you with anything less than AAA.  You did this yourself.  America has two paths- shape up or fizzle out.  But let’s not forget, as the rates eventually go up, our dollar will be stronger.  If our leaders won’t do what’s necessary to save our country, the bond vigilantes eventually will.  And since the bond vigilantes are the people that the government refuses to listen to, that’s real democracy in action.  Thank you Standard and Poors.  Maybe now we can avoid societal collapse if our government will STOP SPENDING so much borrowed money.

 

Oh and here is a great piece by Mark Steyn in the National Review for you to Review if you would like and you should: http://www.nationalreview.com/articles/273876/mad-debt-mark-steyn#

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