After the Downgrade: The Suze Orman Election
No one has ever lost America’s perfect credit rating. Until Barack Obama.
by Rod D. Martin
August 8, 2011
The downgrade is a deep humiliation for the United States. But it’s a debacle for the Democratic Party. They just haven’t yet realized why.
This just became the Suze Orman election.
You know Suze Orman. She’s that nice, perky lady on CNBC. The one who likes leather and writes all those personal finance books on your shelf.
Well, the point is, you do know her. Or if you don’t, you know Dave Ramsey. Or someone else who’s taught you some pretty basic ideas, among which are: don’t max out your credit cards. If you do max out your credit cards, cut them up and pay them off. Don’t count on “new revenues” (like a better job you don’t have, or a tax hike) to bail you out. And above all, if you’re maxed out already, don’t apply for more credit: stop digging your hole.
You know this. Everyone knows this. These are our modern day Proverbs.
And therein lies the problem for Barack Obama.
When the debate was about shaving or adding a billion – or a hundred billi…