In an amazing feat of political suicide, it took only four years or so for the Democrat party to ruin the financial standing of the strongest national economy the world has ever seen. Because, as I'm sure everyone out there knows by now, S&P has downgraded the credit rating of the United States. The AAA rating itself had been held since the year it was first earned, 1917.
What the results and costs of the downgrade will be, nobody knows for sure, but one thing is certain. The failed economic policies and financial mismanagement of the current administration is not news. In fact, I've been highlighting the ineptitude myself in these entries for almost two years, and I'm just a guy sitting here alone, typing my opinions from only the input I see in the media.
While I have no doubt that our fiscal problems are basically due to the president's belief in an economic system that cannot possibly work, I think there's far more to the situation. Because the basis for our incredible losses isn't really simply financial, it's actually political. And the goal from the get-go has been to break the nation's fiscal back and reducing it to third-world status because, in the president's eyes, our huge success was unfair to all the other nations around the globe.
It's also now obvious to me that while the debt crisis was surely worth everyone's attention, because so much was at stake, it was also a diversion. Because it took most folks eye off the ball. And that allowed another, perhaps larger issue, to drop from view for a while although it insidiously keeps undermining our whole economic system. And that issue is: our growing dependence on foreign oil.
It's been proven many times in our history that the nation can grow its way out of almost any financial calamity. The best illustration of that premise is the Reagan era which drove the economy for twenty-six years. And I'm sure if Reagan was at the helm right now we'd be drilling everywhere in the U.S. that you could set up a rig and the price of gas at the pump would reduce to where it should be, about two bucks or less per gallon.
But, as for us right now, we're sending money to the Middle-East hand over fist so folks over there can buy more goats and camels while they bleed us to death. And about half of our own population can't spend a cent to help our own economy grow because every time fill up, they're leaving a hundred bucks or so at the pump for export.
So, with un and under-employment stifling about 20% of our work force, and then exporting most of whatever meager funds they have left, the president's just about totally succeeded in his goal. Financial ruination of the U.S.
That's it for today folks.
Adios
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