Thank-You Tea Party for our Damaged Retirement Accounts
Mr. ToughMoneyLove is as fiscally conservative as most but I am also pragmatic. The same can’t be said for our tea party members of Congress who robotically activated their “no new revenues” autopilot. Then they didn’t know enough to deactivate it. They refused to see what was apparent to everyone else – that compromise was the only way to reach an agreement that consumers and the investing community would accept as a positive outcome.
As a result, we experienced the S&P credit downgrade and continued general fear about the future of our economy. These have combined to sink the markets again. People still won’t spend and businesses still won’t hire because they know nothing has been fixed.
That’s our new Republican party, now infected with tea party disease. The dominant symptom seems to be lost ability to think independently.
No I don’t want more taxes. However, the damage done to our personal balance sheets by tea party intransigence far exceeds what would be caused by higher marginal tax rates.
Don’t people realize this? Is the tea party view of the wealth forest that obscured by a fixation on tax trees. Is it so important that you bring Obama to his knees that you destroy billions in personal wealth in the process?
Why didn’t the Republicans dig in their heels when Bush was President and spending like crazy?
The Democrats deserve some blame for building a wall around entitlement programs. But I believe that wall would have been breached if the Republicans had put new revenues on the table in return.
We need economic leadership and statesmanship. I don’t see any.