By Les Dunaway
This April 18th, 2011 will be one of those dates hated by school kids – because it will be part of the dreaded “essay question”. It’s still to be seen what the essay will describe – the beginning of America’s slide into oblivion or the beginning of her heroic escape from the yawning abyss of Euro-socialism.
One essay tied to 18 Apr 2011 can be written now “The End of Smoke and Mirrors”. The day when politicians could publish a bundle waste paper, label it a “budget” or a “recovery plan” and get away with it is gone. The markets and the nation of the world are out of patience and will no longer give the US the benefit of the doubt. If you haven’t read the “frank and open” statement from S&P conference call, I strongly recommend that you do and then read it to your Congressman.
The next hurdle is the debt ceiling. If the Congress and the Administration fail to agree to real spending reforms, expect to see more from the financial community and from other nations.
Did you know that S&P wasn’t the first to downgrade the US? Do you know who “Dagong” is? [read more]
Regardless of the side of the aisle on which your Congressman is seated, helping heshe to understand that IT’S TIME TO GET REAL would be a good idea.