Monday, April 18, 2011

Economy - #2825 - Standard and Poor Downgrades Entire Nation's Financial Health - American Thinker (2) Saxby Chambliss (R-GA) Says Senate Republicans Will Support Tax Increases - Redstate

Regardless of happy talk from the Obamacrats, sober minds in the world financial community recognize that the US is following a suicidal economic plan. The latest sign comes from Standard and Poor's, the bond rating agency. CNBC reports: Standard and Poor's on Monday downgraded the outlook for the United States to negative, saying it believes there's a risk U.S. policymakers may not reach agreement on how to address the country's long-term fiscal pressures.  "Because the U.S. has, relative to its 'AAA' peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable," the agency said in a statement. As one would expect, the dollar fell and gold is rising to new records. Obama is certainly keeping his promise to "fundamentally transform" America -- into a third world country.

Saxby Chambliss (R-GA) Says Senate Republicans Will Support Tax Increases - Redstate - A few weeks ago, I reported that the Senate Republicans’ point man on dealing with the deficit, Saxby Chambliss (R-GA), said he’d support tax increases as a means to reduce the deficit. Chambliss promptly denied it.  Yesterday, in the New York Times, Chambliss admitted he and the Senate Republicans will support tax increases to pay off the deficit.  Mr. Chambliss has been increasingly outspoken in arguing that additional revenues must be part of a debt-reduction plan, given the scale of the problem.  “I’m taking arrows from some on the far right,” he told the Rotary Club of Atlanta in an appearance with Mr. Warner on Monday. “Are some people going to pay more in taxes? You bet.” Mitch McConnell put Chambliss in charge of the issue for the Republicans. He is their point man.  Read more........  AW: In view if the article above, I hardly believe tax increases will put the U.S. Economy on the 'Path to Prosperity,' Chambliss' office needs to be called as well as your GOP Senators.  Please call them, the vote will be soon.

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