As Iím sure you know S&P has downgraded our credit rating. And there is plenty of blame to go around. As I write this, the Dow Jones experienced its worst drop since December 2008 and its 6th worst decline in history when it lost over 600 points on Monday.
So who is to blame?
Well letís consider some potential candidates.
At the top of most peopleís lists is President Obama. My question isÖwhy hasnít he fired the treasury secretary? Clearly his economic team is not working.
He spoke after the latest economic chaos but as usual, had no real plan. It was the same ďrah, rahĒ chant of how we are going to rally together. Iím tired of not hearing a plan come from his lips. Itís the same rhetoric again and again. And just to demonstrate how effective he is, just 10 minutes after his speech the market dropped another 200 points.
Not only has he failed to come up with a plan but I am really beginning to think he is absolutely delusional. A few days ago he was talking about giving loans out so that our roads, bridges and airports can be fixed. How in the world can we give loans when we have no money to give?
I truly believe the state of our economy has sealed the deal for Obamaís chance at being re-electedÖit is not going to happen. Something miraculous would have to transpire and I really donít see that happening.
Blame the Democrats? Blame the Republicans? Yes, I blame both parties. Everyone is so busy playing politics that they are forgetting about the people.
Congress has hit what I believe is an all time low. There was no compromise made. The debt deal stunk and the results of it are beginning to show.
But hereís the best one I have heardÖletís blame the Tea Party. There are some who believe that members of the House of Representatives were influenced by the Tea Partyís desire to see economic upheaval in our country. Remember? The real terrorists are the Tea Partiers. They are the ones who want to blow our economy up.
Letís get realÖthe main premise of the Tea Party is smaller government, not the demise of our country.
The blame game will continue and our economy will experience a significant setback.
Meanwhile we Americans have to sit here and watch government destroy our economy. There is absolutely nothing we can do. Itís like being the witness to a horrific accident and knowing there is nothing you can do to stop it. But while that may be true, we will certainly have the opportunity to do something in the next election.