The Loser in the Debt Farce

While the establishment punditocracy squabbles over who won, it’s clear to everyone else who lost in the Boehner/Reid/Obama debt debacle: America.

The stock market responded to the RINO sellout to Cloward-Piven tax and spend Democrats by tanking:

Stocks were lower in choppy trading Wednesday, following a handful of tepid economic news and amid growing uncertainty over the euro zone crisis in addition to a possible U.S. credit downgrade.

The Dow Jones Industrial Average declined … heading for its ninth losing session. The Dow’s last 9-day losing streak occurred in Feb. 1978.

The S&P 500 turned negative for the year on Tuesday.

The Euro zone crisis was caused by government debt. So is the “possible” (more like inevitable) US credit downgrade. To the surprise only of the governmedia, handing Obama an extra couple of $TRILLION to grease the wheels before the election did not dupe anyone into thinking our rulers plan on paying their bills:

Moody’s Investors Service and Fitch Ratings affirmed their AAA credit ratings for the U.S. while warning that downgrades were possible if [when] 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 [Monday] after President Barack Obama signed into law a plan to lift the nation’s borrowing limit and [supposedly] cut spending following months of wrangling between Democratic leaders and Republican lawmakers.

Communist China — a model of economic freedom and responsibility compared to the boobs and scoundrels running our government — may wise up and cut off the spigot, leaving us to monetize even more of the debt:

China’s only credit rating agency, Dagong Global, downgraded US sovereign debt on Wednesday to A from A+ with a negative outlook due to the higher debt ceiling.

That would be the same higher ceiling that we were told was urgently required to avoid a downgrade.

Meanwhile, only 22% of the public approves of Boo-hoo Boehner’s sellout. Yet we’re told that Michele Bachmann is a dangerous radical for having opposed it along with 78% of the public.

Tighten your belts; hyperinflation, here we come.

Michele Bachmann
One of a handful who don’t deserve tar, feathers, and worse.

On tips from G. Fox, Bob Roberts, Full Tilt, and Byron. Cross-posted at Moonbattery.

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