How credible are ratings agencies in US debt game?

Video: During Congressional hearings, Rep. Kevin Brady (R-Texas) reminds Treasury Secretary Tim Geithner of his direct connection to the US fiscal crisis. Geithner was over the Federal Reserve Board of New York before he joined the Obama administration.

AS POLITICIANS MAKE CLAIMS to media about raising the debt ceiling and the need to cut spending, many of them quote various ratings agencies like a fiscal holy book.

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Sen. Harkin, 7th biggest earmarker, calls FisCons “cult”

Sen. Tom Harkin of Iowa is the latest Democrat to sound off against fiscal conservatives in Congress. Taking center stage with the man who brought IndyMac down at an opportune time for Democrats (Sen. Charles Schumer of New York), Harkin ranted about the debt ceiling fight, saying it is not between Democrats and Republicans. No. It’s between Republicans and their “cult fringe.”

Harkin not only omitted his own spending sins, he appears to believe President George W. Bush is still in office and Republicans still control the legislative branch.

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Viable plan is Cut, Cap and Balance; Gang plan rests on ‘revenue’

The US House of Representatives passed the Cut, Cap and Balance Act on Tuesday. The bill provides an increase in the debt limit of $2.4 trillion, according to Speaker of the House John Boehner (R-Ohio).

President Barack Obama shot the act down before a vote was taken. Why? Revenue.

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US debt limit will hit $14,294 trillion on May 16

It’s almost inconceivable—how can more than $14 trillion not be enough to operate the federal government? What’s worse—a deadline looms and leftist Democrats in Washington apparently are unconcerned about a day of reckoning that will surely come.

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Lack of border security and federal accountability cost taxpayers billions

A medallion marks the spot where the US and Mexico borders meet. [Customs and Border Patrol photo by James R. Tourtellotte]We’re hearing a lot about US debt these days, with both parties vowing to cut spending. There’s an issue that should be part of the discussion and the only reason it isn’t has to do with political tactics—no one wants to shine a light on our porous border and no one wants to discuss the failure of past and current administrations to hold the federal government accountable for fraud, and no one wants to talk about the costs associated with law enforcement when it comes to citizens of foreign countries.

Michael Cutler spent 30 years working with the Immigration and Naturalization Service. He’s a well known face on programs that cover politics. Cutler, who says on his website he is a Democrat, recently called attention to a particular case involving an “immigration consulting business” catering primarily to Indian nationals.

US Immigration and Customs Enforcement disclosed that principals of the consulting business were charging aliens (term used by government) as much as $60,000 for documentation. The owners have been charged with visa fraud.

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Ryan says Obama budget plan triples US debt over 10-year term

Ryan's 'Path to Prosperity' is posted online. Unlike many of the bills and plans crafted by Democrats, Ryan's plan is written in simple English and is easily comprehended.Rep. Paul Ryan (R-Wisc.) is known for his knowledge about the federal budget and spending, one reason he heads up the Budget Committee in the US House of Representatives. Ryan appeared on Fox and Friends on Wednesday, and he made the case for his fiscal plan ‘The Path to Prosperity’ with a declaration that should upset every American. “Obama,” said Ryan, “is accelerating us towards a debt crisis.”

Why? Because of “budget gimmicks and accounting tricks.”

Ryan delivered hard numbers that would send any business owner into a tailspin. Under President Barack Obama and his fellow Democrats in Congress, federal agency spending rose 24 percent across the board. Once Stimulus dollars were unleashed, the increase rose to 84 percent.

In a down year any business, large or small, raising budgets across the board by 84 percent would not be long for this world.

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On blaming Bush, do Dems forget or just lie?

Updated on Monday, July 19, 2010 at 7:19PM by Kay B. Day, Editor

If you listen to a speech by President Barack Obama, at some point he will remind you he “inherited” this economy and he will imply that America’s skyrocketing debt is all the fault of President George W. Bush.  Are Democrats lying or merely confused?

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