Tonight the Standards & Poor’s credit rating agency downgraded the United States' credit rating from AAA to AA+, and suggested that they might downgrade America again within the next year. So the worst of three worlds has all occurred as a result of years of irresponsible Washington spending, capped by the recent actions of Congress and the President. We now have 1) more debt; 2) no real cuts; and, 3) a downgrade of our debt.
Since this campaign began in December, I have been talking about ending the fiscal insanity in Washington.
I have said time and time again that federal spending needs to be decreased immediately and significantly in order to get our massive debt problem under control, and that the permanent structural restraint of a balanced budget amendment is absolutely necessary. I have noted that this problem can no longer be kicked down the road, because we have run out of road.
The Washington Establishment -- of both political parties -- called those of us who wanted serious spending cuts and a balanced budget every name in the book. Vice President Joe Biden went so far as to call us "terrorists." The Establishment promised their debt ceiling increase would preserve our AAA credit rating. We Tea Party Republicans said a debt ceiling increase would almost certainly guarantee a downgrade.
Tonight, less than five days after the debt ceiling was raised, that downgrade has occurred. Through their actions, President Obama and the Washington Establishment have guaranteed much higher interest rates for everything from homes to cars to credit cards. They have effectively raised taxes massively on the American people, and taken us even closer to the brink of financial ruin.
We absolutely must send a new generation of courageous conservatives to Washington who will rock the boat, ignore the lobbyists, make serious cuts to federal spending right away, and pass a balanced budget amendment.
As part of the Washington Establishment, Senator George Allen and DNC Chairman Tim Kaine helped put us in this terrible position. I stand with Rand Paul, Jim DeMint, Mike Lee, Michele Bachmann and others who have the strength to stand up against Allen’s and Kaine’s Establishment and do the right thing for the American people.
More at Midnight Blue and American Power. Gateway Pundit has video of a former Obama adviser on Bill Maher's show saying "We're f**ked" and laughing. Just great!