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Thread: United States loses its AAA Credit rating from S & P

  1. #1121
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    The replacement of one man, GW Bush, created the following results because it put one party in charge of the entire govt. and gave Obama a blank check, NO checks and balances there
    I think you're confused. Did you mean Bush? Obama has significant opposition in congress, he is constantly in check.

    Bush on the other hand enjoyed six years of a truly rubber stamp congress that accomplished nothing but war spending, expansion of gov't and domestic spying legislation.

    I'm just saying... you keep saying you're not republican, yet spew forth every republican talking point and false reasoning while blind to half the picture here.

    IT DOES NOT MATTER WHO IS IN OFFICE OR WHO IS IN CONGRESS, if they are from either party, the failures will continue.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Occam's Razor View Post
    I think you're confused. Did you mean Bush? Obama has significant opposition in congress, he is constantly in check.

    Bush on the other hand enjoyed six years of a truly rubber stamp congress that accomplished nothing but war spending, expansion of gov't and domestic spying legislation.

    I'm just saying... you keep saying you're not republican, yet spew forth every republican talking point and false reasoning while blind to half the picture here.

    IT DOES NOT MATTER WHO IS IN OFFICE OR WHO IS IN CONGRESS, if they are from either party, the failures will continue.
    For the first two years in office where was that opposition?

    Not sure where you get your information but Bush hardly had a rubber stamp but when he did 2003-2006 the economic results were a lot different than 2007-2008 when it appears that the Democrats were more interested in regaining the WH than doing their job in Congress.

    Your opinion of what Bush actually did is skewed by a leftwing media that distorted his record. Bush had a 4.5 trillion increase in GDP and a net job gain in those 8 years along with a AAA credit rating but again Bush isn't the issue here. It becomes an issue when Obama supporters want to divert from the Obama record. Not going to allow that to happen. Here is the speech that will turn this economy around

    Obama can reclaim his dignity with one speech - NYPOST.com

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Different issue, if they are already in debt having more take home pay helps them pay down that debt if the people choose to do that. I took the Reagan tax cuts and paid off my debt. That pay off gave my creditors more money to help expand and grow their business and that helped the economy.
    The bold is an example of how federal fiscal policy can allow for a private/public debt swap, but it doesn't (in any way) illustrate how output is effected. Also, paying your creditors does not necessarily increase output. Paying off debt reduces the lenders income from interest. Then, the lender must find another seeker of the said capital or be forced to dive into Treasury Securities as a means to hedge against potential losses. The 1980's was an era where a great deal of American capital was injected overseas only to be bailed out by the government via the Savings and Loan legislation (resolution trust corporation), so it is incorrect to automatically assume your creditors expanded the economy given the near financial crisis that occurred in the late 1980's.

    Even in our current situation, paying down debt with tax proceeds is in fact a negative for output growth... for exactly the same reasons above. The low interest rate environment incentives lenders to seek out higher yields, e.g. borrowing dollars and then lending in Brazilian Real's.

    You seem to believe that saving or paying off debt doesn't help the economy. Looks to me like as most liberals you have no concept of human behavior and that affect on the economy.
    You simply have no idea what you are talking about; there is a difference between the long and short run (the first being that the short run will actually exist!) Paying down debt does not result in increased economic output

    Interesting that I never expected you to pay for poor personal choices I made to create the debt in the first place but you seem to think it is my responsibility to pay off yours?
    Actually, due to the public/private debt swap that you illustrated above, I am forced to pay your debts!

    I really have no idea why you even bother discussing something which you know little (if anything) about....
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

  4. #1124
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Founders created the greatest country on the face of the earth and did indeed make mistakes. It was no mistake however to promote a small central govt. and rest power at the local and state levels. Politicians in D.C. however saw an opportunity to create career jobs and dependence thus took it. Support for the current massive expansion of govt. says a lot about millions today who believe in the nanny state. None of those people however recognize that the nanny state is a failure, see, Britain where they have huge entitlements and now want more.
    Why not stick to the subject of this thread, Con? Since S&P has questionable dealings in regards to the financial meltdown, why does their downgrade mean anything at all?


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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Misterveritis View Post
    LOL. You do realize that the same could be said of you and yours?
    Excuse me? You know my family? Oh, right, you don't. You also know nothing about me at all.

  6. #1126
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by j-mac View Post
    The bottom line for this thread is that the US suffered a downgrade in the rating of this country, and instead of studying the path that brought us he for the first time in nearly 100 years we have repubs politically assigning blame not totally without merit to Obama, and demos calling everyone names, and wanting to ramp up what pushed us over the edge...downright stupid if you ask me.


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    American politics-what do you expect? Non partisan discussion is apparently too difficult.
    “In politics, stupidity is not a handicap.” -Napoleon

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    For the first two years in office where was that opposition?

    Not sure where you get your information but Bush hardly had a rubber stamp but when he did 2003-2006 the economic results were a lot different than 2007-2008 when it appears that the Democrats were more interested in regaining the WH than doing their job in Congress.

    Your opinion of what Bush actually did is skewed by a leftwing media that distorted his record. Bush had a 4.5 trillion increase in GDP and a net job gain in those 8 years along with a AAA credit rating but again Bush isn't the issue here. It becomes an issue when Obama supporters want to divert from the Obama record. Not going to allow that to happen. Here is the speech that will turn this economy around

    Obama can reclaim his dignity with one speech - NYPOST.com
    I see you are stuck in the who failed less mode.

    All those gains, as we have seen, were bubble related. The result of giving easy money to folks who are told to go out and buy buy buy to support a consumer economy, itself a sham prop.

    The issue is not who failed less, but the UNBROKEN CHAIN OF EVENTS THAT LED HERE.

    Reagan and Bush sr doubled the debt as a percentage of GDP, Clinton reduced it, Bush Jr doubled it...

    Obama may yet double it, but that does not excuse anything that came before. Failure... everywhere, by all elected, for generations.

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by evanescence View Post
    so wait, you expect me to believe a source called "3chickspolitico" and if I don't, I have to disprove your unproven assertion?



    Btw, did you check out their "Obama Love" Page? Obama Love | 3CHICSPOLITICO
    I don't expect you to refute any facts. I merely point to the dishonesty of your ad homs
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by megaprogman View Post


    Did you just cite free republic? Seriously?
    He laughs at "three chicks" but he quotes a hundred morons as a source
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Misterveritis View Post
    I really love fairy tales and other bedtime stories.
    I know. I saw your link to freerepublic
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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