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

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

    Quote Originally Posted by Phys251 View Post
    Yeah that's a great idea. Let's make sure that states can set their own educational standards, like they did in the good old days before Civil Rights. And without that pesky EPA in the way, we will no longer have to endure the evils of clean air and water. Give me a break, man. I mean, really--do conservatives even THINK about this stuff before saying it?
    I understand. That pesky constitution and the very idea of a limited government is bothersome. Give me a break, man. I mean, really--do liberals even THINK about this stuff before saying it?

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

    Quote Originally Posted by AdamT View Post
    Sure, that would be a natural consquence of the Supreme Court declaring those departments unconstitutional, which they haven't done and won't do because they are perfectly constitutional.
    It does not require the Supremes. Nor are they likely to help. They are dominated by statists.
    Quote Originally Posted by AdamT View Post
    Which is a good thing, because the states are pretty miserable when it comes to environmental protection.
    I understand. There is no reason to let that little Constitution with limited government get in the way, is there?
    Last edited by Misterveritis; 08-14-11 at 01:19 PM.

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

    Quote Originally Posted by Misterveritis View Post
    It does not require the Supremes. Nor are they likely to help. They are dominated by statists.

    Which is a good thing, because the states are pretty miserable when it comes to environmental protection.
    I understand. There is no reason to let that little Constitution with limited government get in the way, is there?
    Of course it does require the Supreme Court. You've heard of that pesky separation of powers thingy, right?

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

    Quote Originally Posted by Goldenboy219 View Post
    You are making a heroic assumption that less regulation leads to more consumption. Interest rates and unemployment alone signify there is not a supply problem.

    You are simply mistaken.
    Less regulation leads to more freedom. More freedom means more economic activity of all sorts. And that leads to a wider variety of goods and services at a range of prices that all may afford. This freedom and liberty thing is tricky. There are less and less people who understand it or even want it. I know which side you stand on.

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

    Quote Originally Posted by Misterveritis View Post
    Your response made no sense.
    Go back and read my original statement to understand why your response to my question is incorrect.
    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

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

    Quote Originally Posted by AdamT View Post
    Of course it does require the Supreme Court. You've heard of that pesky separation of powers thingy, right?
    No. It does not require the Supremes. The Congress funds the regulatory agencies. The Congress directs them to make their stultifying, burdensome, costly, and generally worthless regulations. The Congress can defund them. The Congress can eliminate them entirely. The Executive branch and the Judicial branch have no say.

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

    Quote Originally Posted by Goldenboy219 View Post
    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 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



    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....
    What it showed is that I took personal responsibilty, paid off my debt thus needed none of that govt. "help" that liberals are looking for. What I find from you is a book smart liberal who has no sense of reality. you study the textbook but know little about human behavior. Unlike you, I actually ran something, developed and worked with people, bettering hundreds. That so called debt swap you seem so worried about is actually people paying off their debt and helping the economy vs. govt. spending that creates actual debt that the taxpayers have to fund. Your apparently belief that tax cuts create a debt swap is total and complete ignorance. People with more of their money need less of that govt. so why has it grown over the years and generated a 14.5 trillion dollar debt? Liberal logic? Yep!!

    I only wish that I was half as smart as you think you are. My real life experience actually running a business obvously makes me less qualified than your book smart education that has accomplished nothing

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

    Quote Originally Posted by pbrauer View Post
    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?
    Why does your credit score mean anything to you? Same issue on a larger scale. This isn't going to be the first and only downgrade if Obama remains in office spending trillions. Why do you support someone who generated the results I have posted over and over again 2 1/2 years after taking office? Didn't Obama inherit a AAA rating from Bush?

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

    Quote Originally Posted by Misterveritis View Post
    I know a great deal about you. Should I choose to know more I could. Your words reveal you.
    Oh, please continue. What exactly is it that you know about me, O Great One?

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

    Quote Originally Posted by Conservative View Post
    What it showed is that I took personal responsibilty, paid off my debt thus needed none of that govt. "help" that liberals are looking for. What I find from you is a book smart liberal who has no sense of reality. you study the textbook but know little about human behavior. Unlike you, I actually ran something, developed and worked with people, bettering hundreds. That so called debt swap you seem so worried about is actually people paying off their debt and helping the economy vs. govt. spending that creates actual debt that the taxpayers have to fund. Your apparently belief that tax cuts create a debt swap is total and complete ignorance. People with more of their money need less of that govt. so why has it grown over the years and generated a 14.5 trillion dollar debt? Liberal logic? Yep!!

    I only wish that I was half as smart as you think you are. My real life experience actually running a business obvously makes me less qualified than your book smart education that has accomplished nothing
    Instead of addressing my post, you go off on a wild tangent that is both off topic and ad hominem. Why the moderation team allows you to continue such behavior is beyond me.
    Last edited by Kushinator; 08-14-11 at 01:32 PM.
    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

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