I was listening to CNN TV 85 65 37. In a recent poll shown on CNN TV it was found that 85% of Democrats want a balanced debt reform of spending cuts and new taxes. 65% of Independents want the same thing. 37% of Republicans want the same thing. However, Tea Partiers in the House and Senate have all signed "No Tax" pledges. One one level it is admirable that they are taking this stand. But it is a lot like the lone person standing in the way of the tanks at The Tiananmen Square protests of 1989 in Beijing, China. It's the right idea but it can't work yet. So, as a result of what they are trying to do in a completely impractical and non-pragmatic way, they have just elected Obama to a second term just like Gingrich re-elected Clinton in 1996.
However, because of their principled stand without practicality or pragmatism they may have doomed their movement for the time being, just like the Democracy movement was murdered at that time by China. They may also have doomed our credit rating to go from a triple A rating to a double A rating as a nation and just caused a double dip recession by so doing or possibly long term a second Great Depression covering the whole world. Only time will tell. Because of Globalization it is important for Americans to realize that there is no longer any way to separate one world economy from another world economy. Not really. Because of Globalization what happens to one large country happens to many large and almost all small countries on earth. The tea party through short sightedness may have doomed the whole world to at the very least a double dip recession, lowered credit ratings for our country, higher interest rates on everything in the U.S. and less jobs for everyone. Though their principles were sound their lack of practicality may have doomed us all to something worse than anyone has bargained for.
Later: I just found out that this article was much more prophetic than I wanted it to be:
Egan-Jones Ratings downgrades U.S. Credit Rating t...
No comments:
Post a Comment