Let's see...S&P downgraded US debt to AA+ last Friday. The most recent GDP numbers were dismal. Unemployment remains stubbornly high while net new jobs are pathetically low. Europe's own debt crisis is now so bad that the ECB is pledging to buy Italy's and Spain's sovereign debt, if necessary.
In the midst of this global economic and financial sluggishness, what do Wonderboy and his minions do?
Why, call for more spending, of course!
One of the Democrat's more liberal Representatives was on a cable news network calling for more stimulus spending. Wonderboy himself spent a good part of his Monday afternoon speech regarding the downgrade pleading for higher spending and taxes.
These people must be living on a different planet. The entire developed economic world is grappling with excessive public debt, pension and healthcare spending while their GDP growth rates have slowed.
There's insufficient private wealth being generated by business activity to pay for more government spending.
That's part of what S&P's downgrade was about- future fiscal budgets which strained credulity.
Apparently liberal Democrats really can only sing one tune- tax and spend. No matter what the context.
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