Moody’s: Boehner And Reid Plans Both Completely Fail To Avoid Downgrade

Gee, this is unexpected, Obama and Geitner lying about default.

What is the problem? Its the debt stupid!

And Moody’s fesses up to the Tea Party:

Moody’s, best known for “Subprime is AAA,” is belatedly coming to the realization that a country running serial deficits of 10% of GDP is not a AAA credit.

Well, admitting you have a problem is the first step. And today, Moody’s is admitting what we’ve been telling you for some time, that the debt ceiling charade is a farce and the real problem is the debt itself.

President “Sub-prime Training Wheels” could not be reached for comment.

And, gee, who predicted this obvious turn … next time Obama or his allies in the press go back to the well and recite the well-worn verse that spending is all the other guy’s fault, take a look at the facts. The lies are crystal clear.

It’s the debt stupid!!! The debt limit is just a distracting kabuki dance. And yes it is all Obama’s fault. As are the lies about GDP, recovery summer and all the other crap spewed by this liar.

No country can run debts of these percentages of GDP, think debt to GDP ratio, and survive.

Cut, Cat and Balance anyone???

Here is Sen Rubio and the real problem defined … read the report.

“can’t raise the debt limit without addressing the real problem, the debt”

I know, don’t pay any attention to the idiot

Obama’s Ditch

Besting FDR’s Fascism.

Banks Continue To Fail, Despite Bailouts

Regulators Close Banks in South Carolina, Virginia, Indiana

Three more U.S. banks failed Friday, including the first this year in Virginia and Indiana, according to the Federal Deposit Insurance Corp.

With the latest failures, 61 banks have failed in 2011.

The FDIC said it was appointed the receiver of Integra Bank Corp.’s Integra Bank NA of Evansville, Ind.; Virginia Business Bank of Richmond, Va.; and BankMeridian NA of Columbia, S.C.

Integra Bank is the third-largest bank to fail.

Rush Limbaugh

Back in 1994, Rush Limbaugh wrote See I Told You So. From page 88 of the book, the cure all:

[T]he cure for:

a) the budget deficit = more taxes;

b) unemployment = more taxes;

c) recession = more taxes;

d) environmental problems = more taxes;

e) illiteracy = more taxes;

f) L.A. riots = more taxes.

It doesn’t matter what the nature of the problem is, more taxes will fix it right up.

What’s the cure for tyranny?

Hot 1930s: Fixed The Temprature Record, Removed Man Fiddled Data

Much hotter in the 1930s.

More here:

Steve Goddard’s Rules #1 and #2 For Alarmists

1. Make a wild prediction of disaster, get it to every press outlet in the world. Any forecast of doom automatically makes you an expert in the eyes of the press.

2. When your forecast fails to materialize, make a press release saying that “it is worse than we thought.“

The End Of Harry Reid As We Knew Him

Has Obama reduced Harry Reid to an unwanted rubble pile? Sure seems so.

We don’t know all the details of the negotiations between Mitch McConnell and the White House which apparently are closing in on an agreement, but one thing is clear, Harry Reid has become a sideshow. Loaded with down stream taxes for the unwary.

BreakingNews: GOP leader in Senate says ‘there are no tax increases in this proposal’

The master of the Senate was left to denouncing Mitch McConnell as, basically, a liar for saying an agreement was close and there had been progresss, only hours later to announce that a vote on Reid’s futile bill would be postponed for at least 12 hours at the request of the White House.

Reid was left looking like the only guy in the room who didn’t know. Maybe the dysfunctional Nancy knows

And as McConnell went around Reid, so had John Boehner’

Whatever else these negotiations yield, the end of dingy Harry Reid as we know it is one positive outcome.

That’s two down, one more to go.

CONLAW Professor Ann Althouse Weighs In On the Debt Limit And The 14th Amendment

 THE DEBT LIMIT AND THE FOURTEENTH AMENDMENT:

Isn’t it funny how this “tea party” philosophy just sounds like a fair reading of the text? But only Clarence Thomas is crackpot enough to do that! I added the boldface to highlight what to me seems like the obvious interpretation: No one is talking about questioning the validity of the debt! When you fail to pay debts, you’re not claiming they aren’t valid. Why wouldn’t all the Justices say that? Why would that inapt clause take precedence over the specific and clear clause in Article I, listing among Congress’s powers the power “To borrow Money on the credit of the United States”?

We can’t follow the plain language of the Constitution. Doing that would unacceptably constrain the behavior of elites. Instead, the Constitution must be interpreted by an elite priesthood that will insure it means whatever the elites want it to mean.