Portage County TEA Party Responds to Editorial Blaming TEA Party For Stock Market Crash


Portage County TEA Party
4682 State Route 43 • Kent, Ohio • 44240 • 330-474-3878 • 330-673-4672 (Fax)

Editor August 12, 2011
Ravenna Record Courier
126 North Chestnut Street
Ravenna, OH 44266

Dear Editor,

I must respond to your incredibly inaccurate and misguided editorial in today’s newspaper titled “Debt deal reward: Wall Street instability.” Your implication that Standard & Poors downgraded the US Debt because the deal did not include tax increases is patently untrue and is a total buy-in to the Obama class warfare spin. Standard and Poors never said there downgrade was based on the fact that paying down the deficit solely through spending cuts is “economically and politically unrealistic.” That is wishful thinking on your part. Our debt rating has been lowered, and should have been lowered even more, because we are borrowing 42¢ on every dollar, not because we did not raise taxes enough to pay for everything on the government wish list. It’s the spending stupid. If your business borrowed 42¢ of every dollar you spent what do you think your credit rating would be? Certainly not AA+ – that rating was a political gift. Your bank would not give you a loan, they would foreclose on your business! So, why are you outraged that our debt was downgraded after the debt ceiling was raised?

To suggest that the TEA Party was the driving force behind the “rule or ruin tactics” and “called the shots on the debt deal” is disingenuous at best. If John Boehner bragged that he got 98% of what he wanted, the TEA Party got 0% of what we wanted. We did not want the debt ceiling increased and it was increased! We did not want a “Super Committee” and we got one! We did not want our military spending used as a political bargaining chip! We wanted spend cuts and instead we got bogus “cuts” of spending increases!!!!! None of that helps our citizens, or our county, or solves the problem. It is all political theater and that is the reason the stock market is crashing, not the common sense demands of the TEA Party. If we truly “called the shots” and could reign in government spending, reduce government regulations and deliver tax policies that reward those who successfully invest in creating jobs and wealth – the stock market would be soaring!

Despite the media’s continued attempts to create a TEA Party Republican, they do not exist. We are honest enough to admit that both the Republicans and the Democrats are complicit in this destruction of our nation and the American way of life and we don’t support either of them. You just can’t admit that the big government, nanny state, “progressive”, anti-capitalist policies, of both parties, that you have supported your whole life, have failed us all and were a fantasy from the start. There can be no “great society” provided by government, there are only great Americans who make society great through their individual successes that benefit us all. The TEA Party is not causing the problems of your readers, it is big government and the people who support it.

Tom Zawistowski
Executive Director
Portage County TEA Party

OUR VIEW: Debt deal reward: Wall Street instability – A VOTE OF NO-CONFIDENCE FOR GOP LEADERSHIP, OBAMA ADMINISTRATION

THE EVENING AFTER HIS HOUSE PASSED A DEBT-CEILING BILL THAT WAS ALL SPENDING CUTS AND NO REVENUE INCREASES, SPEAKER JOHN BOEHNER TOOK A VICTORY LAP.

“When you look at this final agreement that we came to with the White House, I got 98 percent of what I wanted. I’m pretty happy,” he said. Other Republican lawmakers boasted that they had seized control of fiscal policy.
It may have been a “Mission Accomplished” moment — meaning, instead of a victory, the worst may be yet to come.
Late Friday, Standard & Poor’s downgraded the quality of U.S. debt on the grounds that the agreement’s mechanism to pay down the deficit solely through spending cuts is economically and politically unrealistic.

Confronted with the wreckage they had caused, Tea Party-movement followers, the driving force behind the “rule or ruin” tactics, began edging away from their handiwork.

Most of the American people aren’t buying it. A New York Times/CBS poll found 57 percent disapproving of the way Boehner is handling his job. That’s 10 points higher than President Obama’s disapproval ratings.

That’s not to say that the president didn’t have his own no-confidence moment: Wall Street plunged shortly after he took to the air waves with his analysis of the economy.

The markets, hopefully, can recover. We can only hope so for the savings of average Americans, who took a major hit when the economy tanked three years ago this fall. They don’t care about Tea Party followers’ ideological purity or the inability of a veteran legislator like Boehner to face them down. They care about their retirement money, whose fortunes are linked, for better or for worse, to the stock market.

The single-minded focus on spending cuts has prepared the way for another dilemma. The debt-ceiling deal calls for an immediate $350 billion cut in defense spending, and if a deal can’t be reached to cut even more defense spending, the Pentagon gets slapped with an automatic $500 billion cut.

With troops likely still fighting in Afghanistan, a residual force in Iraq and other potential hot spots, which member of the Tea Party is going to step forward and tell the armed forces they have to keep on fighting, although with $850 billion less to do it with?

Well, at least the Tea Party Republicans who called the shots on the debt deal can take comfort they got what they wanted. Maybe they got out of the market in time or put their money in gold.

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2 thoughts on “Portage County TEA Party Responds to Editorial Blaming TEA Party For Stock Market Crash

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  2. First,deregulation is what allowed the stock market and bankers to steal our retirement money.All those ponzis,hedge funds and the rest were against the law until Mr Bush repealed them. This question always comes to mind.Why do the people in this country that have the least are made to sacrifice the most?You sound like a person that means well but is on the wrong track.It seems that the GOP is trying to take as much money as they can from the Fed and only replace it with money from the poor.Help me see the light.Thank you

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