Sunday, July 24, 2011

July 24, 2011, A Day Of Reckoning?


We all knew that the "Day of Reckoning" was coming for our fiscal irresponsibility at the Federal level. Has that day arrived? According to Speaker John Boehner today Sunday, July 24, 2011 may be D-Day for the Debt Ceiling negotiations.

At 6:00pm ET today the markets will open in Japan to begin the trading week. The fear is without an agreement on a plan to raise the Debt Ceiling and Cut Spending that the markets will react very badly ala the TARP vote witch the failure of that first vote on TARP caused the Dow Jones Industrials to fall over 777 points which is the worse single day point loss in history. Now we all I know that most of us including myself and many who voted for TARP did not like that legislation at all and were very much against it. The last thing the leaders in Washington want to see in a flat economy is a market free fall like the first TARP vote. They are very fearful that a market plunge like that would send us deeper into a recession that we have been trying very to get out of despite the efforts of President Obama's agenda.


Folks what we are watching unfold before us is the "Ultimate High Stakes Poker Game." They are eyeball to eyeball. Who is bluffing? The President? The Senate? Or is it the House? We may very well know by 6pm today.

One thing is certain, if it wasn't for the "Patriot/Tea Party Movement" that rose up in the winter of 2009 none of this would be going on today. They would have hiked the Debt Limit without any talk about cutting spending. They would not have extended the so called "Bush Tax Cuts." They would be even further along in spending us into oblivion than they are today.

I am rather certain that the "Patriot/Tea Party Movement" will not get everything we would like to see happen with the budget. We want REAL CUTS! NO NEW TAXES! BALANCE THE BUDGET! The reality of Washington DC is that we have real influance in the House, only enough in the Senate to make things difficult for the Democrats and absolutly none in the White House which makes November 2, 2012, all that more important.

Regardless what the outcome may be the "Patriot/Tea Party Movement" has become a major player in the politics of Washington DC and the World. The "Patriot/Tea Party Movement" could not have accomplish this achievement if it wasn't for the Patriots who flooded the Congress with phone calls and emails, held rallies, marched on DC and voted in large numbers on November 3, 2010.

So who is going to blink in this "Ultimate High Stakes Poker Game?" For the sake of "We The People" let's hope it is Barry and the Democrats!

Tony




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