Monday, August 08, 2011

Thank Tea Party

Thanks Tea Party for decimating what little is left of my 401K.

(Thanks to Mock, Paper, Scissors for finding this one.)


K T Cat said...

What, not Goldman Sachs?

Oh, that's right. We were always at war with the Tea Party. We were never at war with Goldman Sachs. Or the S&P ratings bureau.

Dude, when you pay off your Visa bill using your Mastercard year after year, someone's eventually going to notice.

Kelly the little black dog said...

KT, the TP'ers have made it clear that they want to tear down the government. In Wis. they cheered at being blamed for the credit downgrade. So I don't think you can claim now that they didn't get want they wanted - or at least what they thought they wanted.

One of the primary reasons stated by the S&P for the credit lowering was the recent behavior in congress. They rightly so believe that nothing is going to get decided because (part of) one side refused to compromise in ANY way. It's not the debt that they saw as the real issue, but the inability of congress to reach any consensus.

The reality is that a large percentage of the debt would go away by simply letting the Bush tax cuts expire. Things are not as dire as you and other would suggest. The problem is the TP'ers.

Frankly this morning I was thinking about how Republicans never worry debt unless a democrat is in office, and the only time we've actually lowered thendebt is with a democrat present and republican Congress! So forgive me if I can't take any of the TP'er hysterics seriously.

K T Cat said...

The S&P ratings committee can read.

Seriously, do the math. Show how tax increases are going to solve the problem in any way, shape or form. Ignore political parties, they're irrelevant. Just look at the math. The downgrade was inevitable without major changes in the chart linked above, so blaming this group or that is pointless.

Throw away politics and just look at the numbers. There are lots of political parties in the Euro countries, certainly more than just the two we have here. Pick whichever one you want to blame. Then look at their income and expenses charts. It's all the same. Politics is just noise in the data. It doesn't change the trajectories of the curves in the charts. It's simple math.