Moody’s, best known for “Subprime is AAA,” is belatedly coming to the realization that a country running serial deficits of 10% of GDP is not a AAA credit.
Well, admitting you have a problem is the first step. And today, Moody’s is admitting what we’ve been telling you for some time, that the debt ceiling charade is a farce and the real problem is the debt itself.
President Subprime McTrainingWheels could not be reached for comment.
And, gee, who could've predicted such a turn of events?
House Speaker John Boehner had two nuclear weapons at his disposal. And he chose to use neither. He had the debt ceiling and a threat of a downgrade by the rating agencies.
Cut, Cap & Balance addressed both issues.
If Republicans had united behind CCB, they could have forced a vote in the Senate -- by putting massive pressure on the 20 Democrats who had earlier pledged to support a Balanced Budget Amendment -- and send it to the President's desk.
Boehner could then tell the American people: there's only one plan that addresses the deficit and prevents a downgrade.
And let Obama deal with the fallout of a veto -- if he has the guts.
Instead, we submit a plan that still results in downgrade and default.
Idiocy. Sheer, unmitigated idiocy.
We need to elect a boatload more conservatives in 2012, politically eradicate the RINOs, and jam true conservatives into leadership positions.
Because all of these pantywaists -- put together -- don't have the cojones of Michele Bachmann.
They're wimps who are selling out the American people -- just a tad bit slower than the Marxist, Democrat Left. We're headed for fiscal apocalypse and these feckless RINOs won't even put up a fight.