When Democrats attack

[SteveIrving1]

This time http://blog.dccc.org/mt/archives/002556.html">it's Pelosi:

This is the first time that a President of the United States has declared that we, the United States Government, will not put the full faith and credit of the federal government behind the Social Security trust fund. What this President is saying is, we have two kinds of debt. Let's see how we get the debt first. It is in deficit spending, so we have to go borrow in order to keep the government going.

So where does he borrow? He borrows from the Chinese. He borrows from the Japanese. He borrows from the trust fund. And what he is saying now to the American worker: "We will honor our debt to the Chinese and the Japanese, but we are treating you differently. We are not honoring our debt to you."

Very nice. Keep it coming.
http://www.dailykos.com/story/2005/4/6/203341/1836">Daily Kos Article

[annabanana]

1. I heard Randi R on this very subject today..

(and Sam Seder too)

[pnorman]

2. That Pelosi link doesn't work

and I can't seem to find the above quote by Google. Please help.

pnorman

[Old and In the Way]

3. I think Bush opened the door to a major backlash.

If our bonds are no good....who do we blame? Clinton left the strongest government balance sheet in my lifetime. Bush has taken that $500BB surplus and turned it into a $500BB deficit. Bush's economic policies have added trillions more to the national debt.

If we have a treasury that is as bad off fiscally as Bush says, the basis is clearly in the policies that Bush and the Republican majority have enacted.

Howe to fix? Raise taxes on the richest 5%. Start nailing businesses that shelter their income offshore. To do that is to admit defeat and acknowledge that Republican economics is bankrupt. And it will assure their political self-destruction. To not do anything will be to assure the destruction of this country. Which will it be?

[blm]

4. You should tighten that post up and send it as a LTTE.

It has some very simple and compelling points that are irrefutable.

[Erika]

5. Excellent post!

This country is increasingly owned by foreign entities but you don't hear Bushco say a word about it. Nor do you see conservative sites posting about it. World global corporatism is thriving nicely under King GW Bush.

[gratuitous]

6. Peter DeFazio of Oregon made the same point

Those bonds are backed by "the full faith and credit" of . . . whom? Apparently, George W. Bush, on his own, has decided that the United States government no longer has to honor its debts, or that he will decide which debts the government will honor and which it won't.

Bush's comments were reckless and irresponsible. Sure wish the "librul" media would let the people know.