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Clearing the Browser Tabs – Dogs and Cats Living Together Saturday and Sunday Edition Posted: 07 Aug 2011 03:10 AM PDT What is this? A two-day Clearing the Browser Tabs post?Have I gone mad with power? Well, yes, except for the mad with power bit. See, the news has moved so quickly the past couple of days that I spent more time reading than I did writing, which is generally seen as a bad idea for a writer. I’m going to try to make up for that with a big post today, with plenty of links that should give you reading material not only for tonight but for tomorrow, too. The big news is that Standard and Poor’s pulled the downgrade trigger on us and knocked us down to an AA+ credit rating. You can get a good summary of what that means from this Cato Institute video and this blog post by Dan Mitchell. I can’t begin to predict what the consequences of S&P’s actions will be, but I’m sure there will be some and they won’t be good for us. What infuriates me is that we could have avoided the first credit downgrade in our nation’s history if Congress had passed a real debt ceiling bill and not the mushy ball of compromise and can-kicking that ultimately won through. Mark Steyn, whose new book will be out very soon, has the right idea for what our timetable to fix the problem should be (via memeorandum). The real story is that this downgrade is entirely due to the fecklessness of a President who can not stay on a simple economic course for more than two weeks without wandering into the Keynesian weeds. His indecision, as this business owner points out as well as anyone I’ve ever seen, has caused nearly the entire business community to hunker down until he makes up his mind. At some point, the small government crusaders in the Tea Parties and the GOP are going to have to seize the initiative because we really can’t wait until the 2012 elections to set our economy on the right course. I’ve no doubt the Tea Parties are eager to begin and we have a significant part of the nation, entirely ignored by the MSM and actively opposed by the Democrats, with us. I have serious doubts about the Republican Party. Oh, and one last thing. Christina Romer needs to shut the heck up and slink away into well-deserved obscurity surrounded by her utter failure.. And now, links!
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