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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 Misterveritis View Post
    And that is it? That is all the report said?

    How about this often missed paragraph?

    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. 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.

    Pardon me, but your liberal bias is showing. You might want to tuck it back in or zip it up.
    Not at all, you bolding proves this is political document and not a financial one. The so called entitlements are not really entitlements at all, they are paid mostly through payroll taxes. Except for Bush Medicare Part D legislation which was never funded.


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

    Quote Originally Posted by Phys251 View Post
    what your reservation is to clean air and water and to solid education?
    pardon?

    Quote Originally Posted by Phys251 View Post
    your stupid question is equivalent to my asking you, When will you stop beating your wife?
    LOL!

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

    Quote Originally Posted by j-mac View Post
    Nice try. Repubs only control 1/3 of this government. If the liberals had the answer then why not put it in place when they were running roughshot over the the repubs for the first two years of Obama? Because they were busy pushing this that's why.


    J-mac
    It's the Republicans fault also if for no other reason than they helped create the massive debt. This is not a 2 year problem.

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

    Quote Originally Posted by Boo Radley View Post
    While I wish that teachers and policemen and fire figthers were all Obama's supporters, the fact is they are not so ideologically bent. Teachers, police officers, firefighters all vote for both democrats and conservatives. Some just see their jobs as...
    that's nice

    CNBC: State Pensions Face $2.5 Trillion Shortfall

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

    Quote Originally Posted by The Prof View Post
    Too bad they can't just print more money and get themselves out of it, or write some IOU's against Social Security, or borrow from foreign countries. Shucks.
    “I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.


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

    Quote Originally Posted by pbrauer View Post
    Not at all, you bolding proves this is political document and not a financial one. The so called entitlements are not really entitlements at all, they are paid mostly through payroll taxes. Except for Bush Medicare Part D legislation which was never funded.
    You may ignore the truth all that you wish. It will still have an impact on you.

    I suspect you are reachable. Try for the truth. It is amazing when it finds you. (Just be prepared to become conservative). :-)

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

    Quote Originally Posted by Ockham View Post
    Too bad they can't just print more money and get themselves out of it, or write some IOU's against Social Security, or borrow from foreign countries.
    House GOP leaders say no federal bailout of states - Boston.com

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

    S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com

    Read it conservatives:

    A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

    Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.



    Read more: S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com


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

    Quote Originally Posted by pbrauer View Post
    S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com

    Read it conservatives:

    A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

    Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.



    Read more: S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com
    So where is the Obama plan on paper to solve the debt rating problem?

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

    Quote Originally Posted by pbrauer View Post
    S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com

    Read it conservatives:

    A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

    Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.
    Uh-huh.

    I believe this downgrade is a great thing for the country. It focuses one's attention. We must get back to Constitutionally-limited government.

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