As the Debt Ceiling Deal is Celebrated … US Treasury Borrowing at 100% of GDP … America Disapproves of the Raising of Debt Ceiling

American families struggle with their budgets and do without to make ends meet … NOT THE OBAMA LEAD US GOVERNMENT.

UNBELIEVABLE. US Borrowing now equals 100% of GDP.  I am sure the credit agencies will embrace this news. How is it that Obama and and other fool hearty politician on the LEFT or the RIGHT celebrates the debt ceiling deal while the United States is borrowing 100% of the GDP. In one day, just one day the US debt went up $239 billion, largest one-day bump in history.  As the PJ Tatler states, we will be downgraded, how on earth can’t we be?

US debt shot up $238 billion to reach 100 percent of gross domestic project after the government’s debt ceiling was lifted, Treasury figures showed Wednesday.

Treasury borrowing jumped Tuesday, the data showed, immediately after President Barack Obama signed into law an increase in the debt ceiling as the country’s spending commitments reached a breaking point and it threatened to default on its debt.

The new borrowing took total public debt to $14.58 trillion, over end-2010 GDP of $14.53 trillion, and putting it in a league with highly indebted countries like Italy and Belgium.

Obama took his minions out to lunch to congratulate them for all their hard work on the debt ceiling deal, with the looks of the financial state that Obama has taken America, I hope The One made them pay “Dutch” treat.

The actions of those in Washington, DC are just criminal. 2012 cannot come fast enough, I just hope we have an America left.

UPDATE I: Here is a shocker, the American public hate the debt ceiling law. According to a USA TODAY/Gallup Poll taken hours after the Senate passed and President Obama signed the deal, 46% disapprove of the agreement; while only 39% approve. Many believe that this the agreement that was passed to raise the debt ceiling will do more harm to the economy than good. A Rasmussen poll has the polling data even worse … just 22% of likely voters nationwide approve of the agreement while and overwhelming 53% disapprove.

The hard-won, last-minute agreement to raise the debt ceiling and cut the deficit gets low ratings from Americans, who by more than 2-1 predict it will make the nation’s fragile economy worse rather than better.

Priceless, the Burger King Barack Obama Takes Staffers for Burgers After Debt Ceiling Debate

Wow, pens and burgers for those who participated in the debt ceiling debate debacle. White House staffers got to take a lunch with Barack Obama after dealing with long hours for the debt ceiling debate. But wait, were they provided with a healthy meal? Nope, they had burger courtesy of the the Burger King. What would Michelle Obama say?

Congressional leaders will get the pens President Barack Obama used to sign the debt ceiling bill, but White House staffers who logged long hours to secure the deal got lunch with the boss.

Mr. Obama treated a handful of senior White House officials out for burgers at Good Stuff Eatery on Capitol Hill Wednesday afternoon.

“Michelle eats here all the time, but I don’t get out,” Mr. Obama said of his wife, who’s had a burger named after her on the Good Stuff menu.

How ironic, or is it hypocritical? Not only does Obama take his staff out for a non-healthy burger that his wife would most certainly disapprove of … but who does not find it pathetic that after a debate based on over spending and the need to increase the debt ceiling, Obama spends even more $’s for burgers. But it get’s better, one would think that Michelle Obama would be against burgers, at least she is when she tells us how we should eat. Oh the hypocrisy, Michelle actually has a burger named after her, the MICHELLE MELT, Free Range Turkey Burger on the menu at the the restaurant, The Good Stuff. Obama has a burger too, check on the calorie count on this beast.

Wait it gets better, what would Michelle say? Obama even lured an 11 year old boy into the evils of sugar, ice cream and calories by offering the boy a milkshake. Just like all attempts to addict one to something, the first one is always free.

The president was apparently in a good mood, sharing his spread with fellow diners, including 11-year-old Andrew Parker, who said Mr. Obama told him to choose any milkshake he wanted from his table.

Check out Weasel Zipper’s pic of Obama chowing down on a burger, good grief, is he trying to inhale it in one bite?

Remember this Promise from Obama: If Debt Ceiling Limit Deal Passed … It Would Avert a US Economic Crisis

President Barack Obama and his minions pounded the drum that if the debt ceiling crisis was averted with a deal to raise the debt limit, that it would bring stability to the markets and business.

REALLY MR. PRESIDENT?

August 2 came, D-day for the raising of the debt limit where the sky was supposed to fall, the bill was signed into law to raise the debt limit and guess what … stocks fell 256 points!!! What happened to the stability? Obama claimed that the raising of the deb limit to prevent the elderly from not getting their social security checks would sooth the markets and the economy. Barack Obama was once again wrong on the subject matter. Didn’t Obama tie job creation and the economy to the debt ceiling? The Lonely Conservative asks a similar question … “wasn’t the debt deal supposed to save the economy?”It can’t be a coincidence that the markets plummeted on the day that Obama signed the bill into law under the cloak of darkness as no one wanted to be associated with this “sugar coated Satan sandwich”.

The Dow Jones Industrial Average tumbled 265.87 points, or 2.2%, to 11866.62, on Tuesday. The blue-chip index’s eighth consecutive decline marks its longest losing streak since October 2008. It has lost 6.7% during the skid, dating back to July 22.

Obama and his minions also told us that a bipartisan deal would prevent the US credit rating from falling? WRONG AGAIN BARACK. Credit agency Moody’s presently has outlook for the U.S. grade is now negative. Why? Because the debt ceiling deal did nothing to change the spending habits or really address paying down the debt in any serious manner. It’s not just Moody’s who has an issue and a negative view of the US debt, its all of them. Thanks again Barack Obama.

Moody’s Investors Service and Fitch Ratings affirmed their AAA credit ratings for the U.S. while warning that downgrades were possible if lawmakers fail to enact debt reduction measures and the economy weakens.

The outlook for the U.S. grade is now negative, Moody’s said in a statement yesterday after President Barack Obama signed into law a plan to lift the nation’s borrowing limit and cut spending following months of wrangling between Democratic leaders and Republican lawmakers.

It was said by GOP leaders that the debt deal was the best that they could get since they only controlled the House and Democrats controlled the US Senate and the Presidency. If America is serious about paying down the debt and its future, Obama and the Democrats must be thrown out of office in 2012. It is obvious that Obama’s policies are failures and his agenda is far too LEFT for the United States. It is obvious that Obama was and is the lest qualified individual ever to be President and is the worst ever. The only person in America who is happy today is former “misery index President Jimmy Carter.

The issue is not just the debt increase and out of control spending, its the continued poor jobs creation and no growth in the economy. But wait, Obama has reassured the people that he is back focused on jobs. WHAT A COMFORT.

2012 cannot come fast enough.

Debt Deal Reached Between House/Senate Leaders, Now Come the Votes … Obama Sprints to Podium to Hold Press Conference As If He were Involved

Tonight there appears to have been a Debt ceiling deal met between the Republican and Democrat leadership of the House and the US Senate. Interestingly enough, Barack Obama rushed to the podium and in front of the cameras to announce the deal as if he had anything to do with it.

I would be really interested to see if the credit agencies buy this sausage that was created as a legitimate form of debt reform. On Friday Moody’s said that neither the Boehner or Reid plan was adequate. Why would they think this compromise is? Wasn’t the point of this supposed to be that we not get downgraded and pay the bills? How can anyone really call this a success?

Also, Obama stated that he would be driving for tax increases in the future. Obama said that the rich need to pay their fair share of taxes. Are we or are we not going to raise taxes in the face of another possible recession? Just curious Barack, what about the 50% of individuals in the US who pay no taxes, are they going to pay their fair share to?

A bipartisan committee of House and Senators will meet later in the year and report back to Obama in November to suggest new solutions which may include tax hikes. Who really believes that in such a toxic environment that any such thing can be accomplished?

Overall, it would appear that Republicans and especially the TEA PARTY have won a major victory in the debt ceiling debate. However, this is far from over and just the beginning. For too many years the culture in DC has been to blindly tax and spend the people’s money without consequence. I agree with the Astute Blogger as they astutely stated, “LET’S DECLARE VICTORY (one the left hates even more for!) AND MOVE FORWARD TOGETHER TO EVEN BIGGER AND BETTER WINS.”

Please remember, it was not too long ago that Obama wanted a clean bill to raise the debt limit and give him a blank check.

Look for this to be the number two issue after jobs in the 2012 elections. Make no mistake about it … GREECE IS THE WORD, the United States need a Balanced Budget Amendment.

Make no mistake about it, the 2012 elections will decide whether the United States gets back to exceptionalism or whether we become Greece. With only having control of the House, the GOP managed to control the debt debate and shift it to the right … the GOP will need the Senate and Presidency to control really paying down the debt.

UPDATE I: Durbin: Debt Deal Will Be The Death Of Keynesian Economics … well let’s hope so.

UPDATE II: So does this mean the USA loses its AAA rating? How does this compromise even come close to what the rating agencies wanted?

UPDATE III: Speaker Boehner’s Talking Points to the GOP.

TWO-STEP APPROACH TO
HOLD PRESIDENT OBAMA ACCOUNTABLE
Emerging framework has three main features:
(1) cuts government spending more than it increases the debt limit;
(2) implements spending caps to restrain future spending;
(3) advances the cause of a Balanced Budget Amendment
Framework accomplishes this without tax hikes, which would
destroy jobs, while preventing a job-killing national default.

UPDATE IV: LIVE COVERAGE at Business Insiders: DEBT DEAL REACHED

TEA PARTY Already Has WON & Why Establishment GOP’ers Must Go … Senator Jon Kyl (AZ-R) Says Tea Party Republicans Remind Me a Lot of Senator Obama Who Was Also Refused to Raise Debt Limit

Tea Party like Obama … How out of touch are some Republicans and ever wonder why we have a government that spends our money with complete disregard?

Ever wonder why the debt, the economy and the jobs situation ever got to a place where we find it today? Its not just because of liberals and Progressives  like Obama, Pelosi and Reid, they cannot help themselves … the blame also falls on establishment Republicans like Jon Kyl and RINO’s who have aided in the “look the other way”, out of control spending and raising debt limits without issue. How many times were these people going to raise the debt limit with complete disregard? Imagine running your household budget by the answer being, lets just put more on the credit card.

It is obvious that establishment Republicans must go, either by retirement or voted out of office. This could never have been more evident than the comment this morning of FOX NEWS SUNDAY whey Kyl said, “Tea Party Republicans remind me a lot of Senator Barack Obama who also refused to raise the debt limit.” WHAT???!!! Are you serious Senator? As the Gateway Pundit reminds us, it was not just Obama who voted against raising the debt limit under GWB, it was most of the Democrat party. They did not vote against raising the debt limit out of principle, they did so because they were going to vote against Bush at all cost. Get real.

A note to establishment Republicans and RINO’s, make no mistake about it, it was the TEA PARTY who made it possible that the GOP even has control of the US House of Representatives and made the margin in the US Senate much closer. The Tea Party revolution that took place during the 2010 midterm elections had nothing to do with the RINO’s and tired GOP Party. You just happened to be the beneficiaries.

Also, the TEA PARTY has already won the DEBT CEILING debate for if Barack Obama, Democrats and the useless progressives in the GOP had their way, Obama would have been given a blank check and clean bill that raised the debt ceiling. The TEA PARTY lead, while Obama stayed in the wings and tweeted. It was Barack Obama who stated from the outset that he wanted a clean bill to raise the debt ceiling.

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