I heard a great little analogy from Rick Santelli today (CNBC Host of Tea-Party fame), in regards to Obama's Administration:
"If my wife started spending 30% more this year than last year, and her answer was that I'm supposed to get 2 more jobs...that's the same analogy. We have a spending problem in this country."
"You know what leadership means? It means that it doesn't really matter what S&P says. We all know deep inside that no country is the same as it was 5 years ago. And the market seems to be okay with it. And as for stocks going down we were already Ralph Cramden (of Honeymooners) on thin ice. Now an infant jumped on our shoulders. It’s just even more weight.
"In the end, in the end we need to address problems we know exist. A Treasury Secretary or a President should be out here not fighting S&P, not grabbing the other coach and slapping him around, taking the umpire behind the barn. He should be getting the team psyched to overcome.
"See I remember I had a professor in college. I wrote a great paper. Could never please this guy. But it made me better. Okay? We’re better than this. Don’t get caught up in the minutia. All this BS. We’re better than this. We need to prove it. We’re off the track. Whether we're better than some other country or not, the real issue is we're on the wrong path.
"Blame the Tea Party? Geez, no wonder Kerry did so well in an election. If it wasn't for the Tea Party, they would have passed the debt ceiling thumbs up, we would have been rated BBB."
Oh, and Congress is on Vacation until September 7th.