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Thread: S&P tells White House it will downgrade U.S. rating

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    Re: S&P tells White House it will downgrade U.S. rating

    Quote Originally Posted by SheWolf View Post
    Cause we are Americans and Americans can't make anything happen anymore like pass a debt ceiling agreement on time.
    Or a budget even when you control all three branches.

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    Re: S&P tells White House it will downgrade U.S. rating

    Quote Originally Posted by MrVicchio View Post
    The solution is massive reductions in spending across the board. MASSIVE spending cuts.
    If our income to debt ration were the reason for the downgrade, why didn't it happen once our income to debt ration became what it is?
    Is it possible that the downgrade is because we flirted with default?
    I may be wrong.

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    Re: S&P tells White House it will downgrade U.S. rating

    To be fair, he seems to have said that in April under the assumption that Congress would get it sorted a little sooner than they did.
    I may be wrong.

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    Re: S&P tells White House it will downgrade U.S. rating

    Well, obviously it is very bad news, but if there is a silver lining, it is that hopefully it will force the Republicans to stop fighting against revenue increases and military cuts and we can actually get down to business on the deficit.

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    Re: S&P tells White House it will downgrade U.S. rating

    Quick question for people who know more about economics than me.

    If S & P's are really the same douches (along with their two buddies) who caused the financial collapse by giving AAA ratings to the subprime loan bundless, why the **** are they being taken seriously about anything?

    I mean that. It does not take a genius to know that sub-prime loans, regardless of their packaging, are extremely risky investments. They not only dropped the ball, but they deliberately tossed it to the ground and then raped it repeatedly.

    If I ****ed up at my job to that degree, I'd be fired. Without a doubt. Yet these three companies still exist. Something is astronomically ****ed up about that.

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    Re: S&P tells White House it will downgrade U.S. rating

    Quote Originally Posted by Simon W. Moon View Post
    If our income to debt ration were the reason for the downgrade, why didn't it happen once our income to debt ration became what it is?
    Is it possible that the downgrade is because we flirted with default?
    We didn't flirt with default. We were under absolutely no risk of defaulting. Now if you want to argue that politicians running aound "default, default, default" even though they knew it wasn't going to happen played a role, well I'll listen to that arguement.

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    Re: S&P tells White House it will downgrade U.S. rating

    Quote Originally Posted by Simon W. Moon View Post
    To be fair, he seems to have said that in April under the assumption that Congress would get it sorted a little sooner than they did.
    He was wrong, right?

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    Re: S&P tells White House it will downgrade U.S. rating

    Quote Originally Posted by teamosil View Post
    Well, obviously it is very bad news, but if there is a silver lining, it is that hopefully it will force the Republicans to stop fighting against revenue increases and military cuts and we can actually get down to business on the deficit.
    With plenty of people like yourself around it's unlikely. The problem is less with partisan politicians than it is those who will excuse them. It's the fault of BOTH sides and until everyone is willing to accept that and that all must give up something, it will indeed get worse.

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    Re: S&P tells White House it will downgrade U.S. rating

    Quote Originally Posted by 1Perry View Post
    We didn't flirt with default. We were under absolutely no risk of defaulting. Now if you want to argue that politicians running aound "default, default, default" even though they knew it wasn't going to happen played a role, well I'll listen to that arguement.
    What you think the US did or didn't do isn't as important as what our creditors think we did or didn't do. There seems to be a consensus among them that we talked about getting into a situation where our monthly receipts would not cover our monthly expenses and thus we wouldn't be able to pay certain expenses. We use a fair amount of borrowing to meet regularly occurring expenses.

    You can call it w/e you happen to prefer to call it. The gist is we talked about not paying people we owed money to.
    I may be wrong.

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    Re: S&P tells White House it will downgrade U.S. rating

    Quote Originally Posted by 1Perry View Post
    He was wrong, right?
    AFAICT, Congress did not get things sorted at the May meeting he talked about. So, yes, he got that wrong.
    I may be wrong.

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