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

  1. #111
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Eighty Deuce View Post
    We need a Congress, backed by an American public, with a conviction to make the cuts. The Current Congress, while better than the last, is still short of those required numbers. 2012 holds promise that we can make the needed changes. Sorry libs, but that means more Tea Party backed folks, which seems a lock at this point.

    If its any consolation, McCain would not have fixed this mess, although he would have delayed it a bit.
    And Obama thrown out on his ass. The country will not be mended so long as he is in the WH.

    Agreed. McCain would have been Bush's 3rd term and the nail in the coffin of the republican party.

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

    Alright kiddies, let's get real. The downgrade was caused by the republican's taking the country hostage over the debt limit ... PERIOD. Anyone who is remotely in touch with reality understands that this was insanity, and anyone with a foot on planet earth understands that the deficit situation can only realistically be addressed wtih a combination of spending cuts and revenu hikes. S&P's move was first and foremost a recognition of the fact that one of our two parties has completely lost its fu*king mind, thereby effectively turning the the most powerful nation on earth, the richest nation on earth, the biggest economy on earth, into a half-retarded basket case.

    Carry on.

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

    Quote Originally Posted by AdamT View Post
    Alright kiddies, let's get real. The downgrade was caused by the republican's taking the country hostage over the debt limit ... PERIOD. Anyone who is remotely in touch with reality understands that this was insanity, and anyone with a foot on planet earth understands that the deficit situation can only realistically be addressed wtih a combination of spending cuts and revenu hikes. S&P's move was first and foremost a recognition of the fact that one of our two parties has completely lost its fu*king mind, thereby effectively turning the the most powerful nation on earth, the richest nation on earth, the biggest economy on earth, into a half-retarded basket case.

    Carry on.
    so if the house went along with Geithner's request for a clean debt limit would have been fine with S&P. Not sure if you are lying or just uninformed.

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

    Quote Originally Posted by AdamT View Post
    Alright kiddies, let's get real. The downgrade was caused by the republican's taking the country hostage over the debt limit ... PERIOD. Anyone who is remotely in touch with reality understands that this was insanity, and anyone with a foot on planet earth understands that the deficit situation can only realistically be addressed wtih a combination of spending cuts and revenu hikes. S&P's move was first and foremost a recognition of the fact that one of our two parties has completely lost its fu*king mind, thereby effectively turning the the most powerful nation on earth, the richest nation on earth, the biggest economy on earth, into a half-retarded basket case.

    Carry on.
    I reckon, in hindsight, Obama killing all those jobs was a bad idea.

    It was the private sector, not the government, that made this the richest nation on earth. The Democrats got in the way of that and, well, here we are.

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

    Quote Originally Posted by washunut View Post
    so if the house went along with Geithner's request for a clean debt limit would have been fine with S&P. Not sure if you are lying or just uninformed.
    That is a helluva toss up, huh?

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

    Quote Originally Posted by apdst View Post
    That is a helluva toss up, huh?
    take your pick, I have my guess.

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

    Quote Originally Posted by washunut View Post
    take your pick, I have my guess.
    I'm split down the middle; I really am.

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

    Quote Originally Posted by apdst View Post
    I reckon, in hindsight, Obama killing all those jobs was a bad idea.

    It was the private sector, not the government, that made this the richest nation on earth. The Democrats got in the way of that and, well, here we are.
    Seems like the U.S. and much of the developed world is in a real trickbox right now. We are so dependent on government spending that the short term will mean contraction if we reduce spending. If we do not reduce spending, interest expense will be the single biggest expense, not sustainable. Not an easy answer to work our way out of this without the economy cratering.

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

    Quote Originally Posted by LibLoather View Post
    100% correct, but by the end of his first term Obama will have increased the national debt by $5,000,000,000,000 which is a stunning rate of deficit spending. I believe Bush's largest annual deficit was $280B while Obama's is $1.6T; it's like comparing apples and oranges.

    Obama is an utter disaster on every economic metric, as we knew he would be; what did liberals and the ignorant average America Idol voter expect? This clown never operated anything close to a for profit business; he's the least qualified man in virtually any room he enters, yet he's president of the United States.
    The problem with Regressives is they have no command of the facts..... "I believe Bush's largest annual deficit was $280B..." Wrong.... not even close, but it is a nice fantasy for you.

    http://home.adelphi.edu/sbloch/deficits.html

    Sorry, Bush NEVER had a deficit as low as $280B. He was handed a running budget with small deficits ($100ish B), but then proceeded to start wars and pay for those wars with tax cuts. His first deficit was $420B... and thereafter he never had a deficit below $500B. He then handed over a deficit of $1.1 T to his successor. So, he started with very small deficits and ended with huge deficits. You can blame Obama for not fixing the mess that was handed to him, that is fair, but the mess was handed to him.

    Moreover, the debt run-up under Obama to date is closer to $2.5T, though it probably will be close to $5T in the 4 years. Again, you can blame if for not fixing the mess (and that is a credible position to take), but its not apples and oranges, its more like trying to charge the closer with the loss when the starting pitcher gave the other team a 10-run lead.

    You are entitled to your fantasies, but that is a different website. Here, bring your facts (and support them) or don't post....
    Last edited by upsideguy; 08-06-11 at 01:29 AM.

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

    Quote Originally Posted by washunut View Post
    so if the house went along with Geithner's request for a clean debt limit would have been fine with S&P. Not sure if you are lying or just uninformed.
    Yes, I think that is absolutely the case. If Congress had properly treated the debt ceiling as a housekeeping matter, as in all times past, and both sides gave indications that they would work together to address long-term deficits, this would not have happened.

    The ratings agencies made it perfectly clear that taking the decision down to the wire would be a significant factor in their decision. So what happened? Congress took it as close to the wire as they possibly could.

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