Saturday, August 5, 2023
Friday, August 4, 2023
The US debt downgrades of 2011 and 2023 have one thing in common: Nancy Pelosi's record of the four most fiscally irresponsible years in the post-war
Nancy Pelosi owns the record for the four most fiscally irresponsible years in the post-war, spending 316% of tax receipts in 2020, 276% in 2021, 310% in 2009, and 296% in 2010.
Her four years as Speaker 2007-2010 averaged current expenditures as a percent of current tax receipts of 251%, highest for any Speaker ever.
S&P downgraded the debt in August 2011.
The Boehner/Ryan interregnum averaged 219%.
Pelosi's next four years as Speaker 2019-2022 averaged 252% in overspending.
Fitch has now downgraded the debt in August 2023.
Taken all together, Pelosi's Speakership produced the worst overspending in the post-war at 251% of revenues. The excess has to be borrowed, ballooning the debt.
The ratings agencies sound the alarm bells no one else will ring, but they are mocked by all the experts, whose livelihoods depend on the scam continuing.
All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.
-- US Constitution, Article One, Section Seven
Wednesday, January 2, 2013
OK, How Long Before The Ratings Agencies Downgrade Us Again?
Monday, December 31, 2012
Democrats Want To Kick The Sequestration Can To 2015
Tuesday, December 11, 2012
Rules For Radical Republicans: Bush Tax Cuts Edition
The enemy is trying to combine everything into one event, "the fiscal cliff", which tells you they perceive they are at a disadvantage. They are. You need to keep the events separate and do things piecemeal. Raising the debt ceiling should come later, crossing the tax rates fiscal cliff should come first. Fight for spending cuts later with the debt ceiling, not now. Sequestration already gave you some spending cuts, which you should embrace.
No more appearances with the enemy, especially on the golf course. You are third in line for the presidency. Start acting like it. Visit Afghanistan to encourage the troops.
The place you need to get to is the same place you were at two times when the president extended the Bush tax rates, so you should know the way. An uncompromising new insistence on tax reform and much lower tax rates might get you there. It changes the subject and focuses the argument on relieving the taxpayers. The president upped the ante. You need to see him and raise him. Aim for the moon, and you might get into orbit.