WELCOME TO THE BLOG This blog reflects my views of current political issues.. It is also an archive for columns in the Sky Hi News 2011 to November 2019. Winter Park Times 2019 to 2021.(paper publishing suspended in 2021) My Facebook page, the muftic forum, posts blog links, comments, and sharing. Non-political Facebook page: felicia muftic. Subscribe for free on Substack: https://feliciamuftic.substack.com Blog postings are continuously being edited and updated.
Saturday, August 6, 2011
Blame the Teaparty for credit rating downgrade
Listening to Anderson Cooper's CNN interveiw of the Standard and Poor's representative, we can pin the blame directly on the Teaparty. The S&P official said the reason they downgraded the credit rating on 1) debating even whether the ceiling should be raised; 2) failure to heed Bowles-Simpson recommendations on a long term plan. My observation: Simpson-Bowles recommended raising some taxes and reforming entitlements...neither of which the compromise did. ...and which were the key components of the Teaparty's opposition and obstinate votes in the House. The liberal wing of the Democratic party also deserves a paddling for failure to approve entitlement reform, but they at least tied their position to increasing taxes on the very rich which left the door open for some tradeoffs...if you parsed their litany.
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