The downgrading of America’s credit rating by the credit agency Standard and Poor’s last Friday evening was totally a reaction to the refusal of the Republican Party and the Tea Party Movement to negotiate and understand the need for new tax revenue, and also its carrying out a threat, all the way to the brink, to allow the government to go bankrupt, rather than agree to a clean one sentence bill raising the debt limit!
The recklessness of the Tea Party radicals demonstrates just how dangerous they are, as they had no concern before, and now hail the downgrading of credit as a victory for their cause! Just how much more irresponsible can any group be, when it will undermine the economic recovery, likely lead to a double dip recession, and make the economic collapse continue for many more years!
It is also clear that Standard and Poor’s made its decision to lower the credit rating based on incorrect information, and they failed to keep accurate track of past economic activity, which helped to lead to the greatest economic disaster in 70 years, when their ineptness helped to cause the Great Recession of 2008 and since!
Does this mean that the Democrats and Barack Obama are faultless? NO, as it is clear that Barack Obama failed to rally the American people against the opposition, refused to use the “bully pulpit”, seemed unable to understand the importance of clear communication, and has to understand that the American people will have his back if only he will show aggressiveness, make the economic future an issue of the people against the special interests, not worry about personal attacks since they will never stop anyway, and show the country that he is serious in following the example of Theodore Roosevelt, Franklin D. Roosevelt, Harry Truman and Lyndon B. Johnson in pursuing their goals, come hell or high water!
The President needs to take leadership, present a strong jobs program, and put the GOP on the spot! Even if nothing gets passed, as long as he makes the pitch for action, he will convince the nation that he is serious about jobs, and willing to put his neck out, rather than continue the “compromiser” image which fails to win Republican respect, and at the same time, alienates much of his progressive base for being too timid!