Five things the media didn’t mention from the S&P downgrade report

Yes, people like John Kerry were quick to blame the Tea Party and claim that the S&P downgrade was solely due to a lack of  tax increases, but that’s not what S&P said.  Still, that's probably all you heard. So, here are five things the media made sure you missed:

1)      The left says the S&P downgrade had to do with the Tea Party not wanting to raise taxes.  They hope you don’t read this:

Standard & Poor's takes no position on the mix of spending and revenue

measures that Congress and the Administration might conclude is appropriate

for putting the U.S.'s finances on a sustainable footing.

2)      It’s not all about taxes.  S&P prominently criticizes the political impossibilities of containing growth in public spending and reforming entitlements.  Is that the tea party’s fault too?

We lowered our long-term rating on the U.S. because we believe that the

prolonged controversy over raising the statutory debt ceiling and the related

fiscal policy debate indicate that further near-term progress containing the

growth in public spending, especially on entitlements, or on reaching an

agreement on raising revenues is less likely than we previously assumed and

will remain a contentious and fitful process.

3)      They note that the debt ceiling deal didn’t go far enough.  You might recognize that as the Tea Party position.

We also believe that the fiscal consolidation plan that Congress and the

Administration agreed to this week falls short of the amount that we believe is

necessary to stabilize the general government debt burden by the middle of the

decade.

4)      Along with the deepness of the recession, the sluggishly terrible Obama “recovery” was another reason for their negative position.  Is the Tea Party responsible for the Obama’s failed economic policies too?

First, the revisions show that the recent recession was

deeper than previously assumed, so the GDP this year is lower than previously

thought in both nominal and real terms. Consequently, the debt burden is

slightly higher. Second, the revised data highlight the sub-par path of the

current economic recovery when compared with rebounds following

previous post-war recessions. We believe the sluggish pace of the current

economic recovery could be consistent with the experiences of countries that

have had financial crises in which the slow process of debt deleveraging in the private

sector leads to a persistent drag on demand. As a result, our downside case

scenario assumes relatively modest real trend GDP growth of 2.5% and inflation

of near 1.5% annually going forward.

5)      They might downgrade us again if they see “less reduction in spending” than was agreed to.  Is the Tea Party also responsible for not cutting spending enough?

The outlook on the long-term rating is negative. We could lower the

long-term rating to 'AA' within the next two years if we see that less

reduction in spending than agreed to, higher interest rates, or new

fiscal pressures during the period result in a higher general government

debt trajectory than we currently assume in our base case.

Would Glenn make a better bounty hunter or a Jedi? You'll have to find out in a new episode of the Beltway Banthas Podcast, where Glenn goes deep on Star Wars with host Stephen Kent. In this 45 minute discussion, Stephen and Glenn explore the political themes of the Star Wars franchise, Darth Vader's redemption from Return of the Jedi, Glenn's earliest memories of seeing the films and even debate elements of the latest Star Wars films.

If you enjoy the pop culture and nerdy discussions that Glenn, Pat and Stu get into on the radio show, you'll love this! After you're through, you can also check out Stu Burguiere's appearance on Beltway Banthas to talk Star Wars. You can find that here.


It's never too early to start your Christmas, Hanukah, or Kwanzaa shopping. Or even birthday gift shopping. Especially if that special someone in your life is a Democrat. Because at last count, pretty much all the Democrats are now running for president. And that means there has never been a wider selection of official candidate merchandise to choose from. Whether you're into environmentalism, feminism, classism, socialism, or just plain love, there is a smorgasbord of classy items that you and yours will treasure forever... or at least until the next presidential election.

We have browsed each of the candidates' online stores, so you don't have to (it only took us three months). We have curated only the finest items from each of the Democrats running for president of the United States of America. Without further ado, here is your handy progressive gift guide – or maybe your what-not-to-gift guide.

First, the bargain basement options. Hurry! Time is running out to grab your Beto bandana, or your Delaney pack of golf balls, because at this point Stu has as much of a chance as these guys of getting the nomination.

Tom Steyer, for example – is he still in the race?


https://shop.tomsteyer.com/collections/frontpage/products/tom-2020-pattern-tee


There's way too much Tom here. That shirt's got more Toms than a Caucasian dentists' convention.

For the slightly more moderate Democrat in your life, perhaps they'd like to join the "Yang Gang"…

https://shop.yang2020.com/collections/bumper-stickers/products/yanggang-decal


Andrew Yang is a lock for Math Club president…


https://shop.yang2020.com/collections/apparel/products/math-hat


But for actual president? Well, I wouldn't make plans for how you're going to spend your $1,000-per-month Yang allowance just yet.

If you happen to be shopping for your dog, may I suggest this lovely "Dogs for Delaney" dog collar…


https://store.johndelaney.com/products/dogs-for-delaney-collar


John Delaney's definitely going to secure the canine vote with this kind of outreach. As for any human votes, that's another question entirely.

How 'bout this tastefully understated "Natural Canvas" Michael Bennet tote to remind you he's also still here?...


https://store.michaelbennet.com/michael-bennet-for-america-natural-canvas-tote/


Then again, it's a tote. So, it'll end up on the floor of your closet and you won't have it with you until that one random moment when you're out somewhere and you really need a tote bag. Just like Democrats will really wish they had a moderate when we're in the middle of the socialist nightmare of their creation.

Captain Planet himself, Jay Inslee recently dropped out of the race, but don't let that stop you from picking up what may be the greatest single item sold by anyone in this race…


https://store.jayinslee.com/elvis-the-elves-the-mystery-of-the-melting-snow-by-jay-inslee/


A children's book called Elvis & the Elves: the Mystery of the Melting Snow. Written and illustrated by Governor Jay Inslee. Talk about a whodunnit – how could that snow possibly be melting? Spoiler alert: it's because of evil, white, patriarchal capitalism. And Donald Trump.

Then there's the candidate who thinks you're a moron that can't pronounce his last name: Steve Bullock...


https://shop.stevebullock.com/collections/apparel/products/emoji-t-shirt


Get it? Bull. Lock. Oh, so that's how you say the name that sounds exactly how it's spelled.

There's another candidate who also thinks you need help pronouncing his last name…


https://store.peteforamerica.com/collections/apparel/products/boot-edge-edge-t-shirt


And he is definitely right about that. So, thank you, Pete "Boot Edge Edge." That helps.

Just outside the bargain bin section, but just barely, are candidates like Julian Castro and his "El Presidente" t-shirt…


https://store.julianforthefuture.com/julian-castro-loteria-card-white-tee/


When your last name's Castro, do you really want to go with a weird drawing of yourself as if you're a classic Latin American dictator on a postage stamp?

If you prefer a little "dark psychic forces" battling in your candidates, you'll love Marianne Williamson's "Turn Love Into a Political Force" rally sign…


https://store.marianne2020.com/collections/signs/products/love-rally-sign


"Turn Love Into a Political Force" would be an even better title for a Marianne Williamson album of 80s cover songs. And if you think I'm joking, then you haven't heard Bernie Sanders' classic 1987 folk album, We Shall Overcome. That's not a joke. Well, it is a joke, but it's also a very real thing.

Now, just a quick pause to consider the peculiar baby-wear that way too many candidates are selling…

…including Elizabeth Warren's trans-pride flag onesie. Let me get this straight – we can't force any gender on a child, because that's just cruel. But we can force a political advertisement on a baby? How do we know that baby is actually a Biden or Warren fan? The child may not even be a Democrat or a Socialist at all. That baby might self-identify as a Libertarian, or Republican, or even worse – a moderate Democrat.

Now to the premium items from the premium candidates. Elizabeth Warren – the candidate with the most honesty in her advertising…


https://shop.elizabethwarren.com/collections/apparel/products/impolite-arrogant-women-make-history-unisex-t-shirt

-AND-

https://shop.elizabethwarren.com/collections/drinkware/products/strong-american-unions-mug


Warren's merchandise reflects the woman herself – cold and humorless (watch her "This isn't funny" clip from the last debate here at the 4:27 mark). I'm sure she's really fun once you get to know her. Then again, maybe not.

Speaking of serious women, Kamala Harris wants to be president very badly for you, the people, as you can tell from her "For the People" poster…


https://store.kamalaharris.org/poster-for-the-people/


At $29.99 though, she's sure not charging "people's" prices. Of course, she might be having to pay royalties to a certain someone for riffing on their poster. Just saying.

For the race's number one socialist, there's a whole lot of capitalism going on in Bernie Sanders' campaign. He sells so many delightful items that it's hard to choose. But we did anyway. The most random item is this hundred-dollar, black, "Art of a Political Revolution – Artists for Bernie Sanders Coaches Jacket"…


https://store.berniesanders.com/collections/apparel/products/artists-for-bernie-coaches-jacket


Coaches across the land will be clamoring for this one. You know, since coaches are such a strong Bernie-socialist demographic.

If that's a little over your budget you might consider a "Feel the Bern" fanny pack, to help store all those government freebies you'll get from Bernie…


https://store.berniesanders.com/collections/apparel/products/feel-the-bern-fanny-pack


This is the only context in which you'll ever want to hear "feel the burn" and "fanny" in the same sentence.

And finally, from front-runner Joe Biden, we have this fine "Women's Fitted Biden Polo." Which is just about the best polo description ever…


https://store.joebiden.com/collections/apparel/products/biden-polo-womens-fit


It promises the kind of snug approach that Biden loves to provide women. Even when they don't ask.

This was one of the first homesteads in the area in the 1880's and was just begging to be brought back to its original glory — with a touch of modern. When we first purchased the property, it was full of old stuff without any running water, central heat or AC, so needless to say, we had a huge project ahead of us. It took some vision and a whole lot of trust, but the mess we started with seven years ago is now a place we hope the original owners would be proud of.

To restore something like this is really does take a village. It doesn't take much money to make it cozy inside, if like me you are willing to take time and gather things here and there from thrift shops and little antique shops in the middle of nowhere.

But finding the right craftsman is a different story.

Matt Jensen and his assistant Rob did this entire job from sketches I made. Because he built this in his off hours it took just over a year, but so worth the wait. It wasn't easy as it was 18"out of square. He had to build around that as the entire thing we felt would collapse. Matt just reinforced the structure and we love its imperfections.

Here are a few pictures of the process and the transformation from where we started to where we are now:

​How it was

It doesn't look like much yet, but just you wait and see!

By request a photo tour of the restored cabin. I start doing the interior design in earnest tomorrow after the show, but all of the construction guys are now done. So I mopped the floors, washed the sheets, some friends helped by washing the windows. And now the unofficial / official tour.

The Property

The views are absolutely stunning and completely peaceful.