Saturday, August 13, 2011

Tea Party at Fault in Near-Default and Credit Rating Downgrade

PPPS (Washington) Recent data released by the U.S. Bureau of Economic Analysis supports the claim by many government leaders, such as Senator John Kerry, and independent pundits, such as David Axlerod, who conclude that the Tea Party is responsible for the recent near default by the U.S. government, and for the resulting credit downgrade by Standard & Poors. Our own PPPS Chief Economic Analyst Prognosticator Pete has evaluated the data, and presents his findings, as illustrated by the following graphs.

It is clear from this graph that the start of Tea Party movement not only coincides with, but had a causative effect on the uncontrolled expansion of government spending which ultimately led to the recent downgrade in the U.S. credit rating.

Furthemore, the following graph of unemployment, as adjusted to reflect Prognosticator Pete's most recent projections, indicates both a direct correlation between the start of the Tea Party movement and skyrocketing unemployment, and the potentially disastrous future consequences of the "Tea Party Downgrade". 

Tea Party proponents, in an attempt to deflect blame and spin their own interpretation of these telling statistics, suggest that the Tea Party movement was actually an early warning against out-of-control spending and not the cause. They also maintain that had their warnings been headed, the credit downgrade could have been avoided.

Our own PPPS survey of leading economists, including top economic advisers at the White House, finds little support for the Tea Party spin. In fact, noted Nobel Prize winning economist and New York Times columnist Paul Krugman, goes even further in disputing the Tea Party claims, "The recent analysis by Prognosticator Pete, while admirable, only suggests a direct correlation between Tea Party activism and our country's economic decline, whereas my own research indicates that the Tea Party's efforts to thwart the President's economic stimulus programs actually constitutes economic terrorism of the highest order, and should be prosecuted accordingly."

Unnamed White House and intelligence community sources are now indicating that the President's skillful maneuvers to keep the Guantanamo Bay detention facility operational, despite public opinion to the contrary,   have in fact been part of a strategic move to counter an anticipated nationwide expansion of dangerous right-wing extremist (terrorist?) Tea Party groups. As one anonymous source indicated, "It is essential that leaders of the movement be rounded up before they can cause further economic damage and interfere with our fragile democratic institutions ahead of the 2012 elections."

Look for further updates concerning political implications of the dangerous Tea Party movement from our PPPS correspondent, Progressive Pete, currently on undercover assignment.
Hat Tips:
For the GDP graph, we thank Randall Hoven at American Thinker.
For the Unemployment graph (before alteration) we thank the E21 - Economic Policies for the 21st Century.
Trackbacks: Tea Party Exposed and Citizen Pete Debates David Axelrod
Fair & Balanced Alternative Viewpoint: For a slightly irrational, but remotely plausible, alternative viewpoint which places the spin with the Democrats, we recommend Paul Kengor's article Dem's Risky Tea Party Smear at American Thinker.


  1. (this being a note to Obamabots and Democrats)

    I'm thinkin' ... if the Tea Party can exert control to that extent over the entire economy, maybe they're not the people you wanna be "effin" with...

    (paradigm-shifting witticisms courtesy of MajorWilliamsTree)

  2. Unbelievable blaming this crisis on the Tea Party. Never mind the decades of wreckless spending and accumulating debt. That has nothing to do with your credit rating. The truth is we should have been downgraded years ago.
    Keynesian economics and most of our politicians are to blame...borrow, spend, credit, debt. You can NOT blame the Tea Party, nor can you blame Obama (even though he has thrown gas on the fire in attempts to put it out). This has been DECADES in the making, and was accelerated when Nixon took us off the Gold Standard i.e. unlimited money printing.

  3. Wow! I also noticed that the Earth started to really heat up around the same time that Al Gore became VP. Therefore, the real cause of global warming must be Al Gore!

  4. Democrats and our president will blame anybody except themselves for any problem facing the country. They are masters of demagoguery. Their ignorant followers believe all their liberal crap.

  5. This is hysterical. Dude you need to submit this to I know they would publish it. Just awesome. Keep up the good work.

  6. How could a sane informed person buy into this BS? This warmonger government has been on an unbridled spending spree for over 10 years, the Federal Reserve is ripping our butts for interest the government can't pay on it's massive debt, Wall Street is a gang of criminals but it's the Tea Party's fault, geeezzzzz.

  7. General comments to Anonymous (and Michael).

    First of all, Anonymous, you are a rather prolific commenter, or else, like Pete, you have a lot of cousins with the same name.

    As for some of you, read the title and subtitle to this blog.

    As for some others, I just fell for your comment, and I need to read the title/subtitle. You just out did me.

    And as for Cousin Anonymous who commented on the Onion. Thanks for the compliment (I think), but the Onion does not accept unsolicited submissions, or any others for that matter. So we'll just have to bury them with competition. And you can help by telling your friends and linking to this blog. (If you are a true fan, you can send money).

    And as for the other cousin Anonymous with the Al Gore comment. Very good! I'm passing that on to Pilferer Pete (see staff list) for inclusion in an upcoming post.

    Finally, Michael Pelt, the only one of you with guts to comment under an actual (or assumed) name, I salute your courage sir. Most intelligent people, or those concerned about their reputation, would not want to be associated with anything written here. And even though I agree with what you said, I must warn you about the use of the word "crap", which although it might be descriptive of just about everything liberals say, it also might offend Pious Pete and get you booted. So keep it clean.

    Thank you all for commenting and God bless!


Feel free to comment, but keep it clean. Pious Pete will be monitoring.