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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 Conservative View Post
    Not raising the debt ceiling doesn't mean default. Stop buying the rhetoric
    Of course it means default.

    "Definition of DEFAULT

    1. : failure to do something required by duty or law"

    If we hadn't raised the debt ceiling we would have been unable to meet our existing financial obligations.

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

    Quote Originally Posted by AdamT View Post
    Of course the irony in all this is that, since the downgrade, demand for US Treasuries has skyrocketed, sending yields to near-historic lows. In the latest auction for 10 year notes demand outstripped supply 3:1.
    I read a paper sometime over the last few days that indicated this sort of buying is to be expected. No one expects us to actually default. But for the few instances in history over the last 200 years where the debt to GDP exceeded 80% eventually the sovereign defaulted. And where are we today? 100%.

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

    Quote Originally Posted by Misterveritis View Post
    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.
    This is a great country, you have every right to believe what you want to believe. The Constitution gives power to the people or at least to their elected representatives. Where is there a limit in the Constitution? A figment of your imagination? lol


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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
    It is impossible for the U.S. to currently default. We can print all the money we want to. Maybe the reason S&P didn't specifically mention Republican's was because they weren't the major promoters of the idea of a default?

    “people in the political arena were even talking about a potential default,”

    Obama didn't talk about this?

    How about Timmy?

    However, should Republicans hold out on increasing the nation’s borrowing limit in an effort to enact their budget resolution, which dramatically cuts spending on the poor and elderly and taxes for the wealthy, Geithner said the GOP would “own” the ensuing economic consequences, which include a potential default on the government’s debt.

    Geithner, Defending Obama Plan, Says GOP Owns Potential U.S. Default - Tim Fernholz - NationalJournal.com

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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 means default.

    "Definition of DEFAULT

    1. : failure to do something required by duty or law"

    If we hadn't raised the debt ceiling we would have been unable to meet our existing financial obligations.
    That is ridiculous and just part of the misinformation being spread by the left and bought by the minions that want to believe the rhetoric. Cutting expenses enough wouldn't have required an increase in the debt ceiling. Paying debt service on the debt, our military, our seniors, SS/Medicare wasn't even an issue. the liberal elite are laughing their asses off at people like you buying the lies

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

    Quote Originally Posted by 1Perry View Post
    It is impossible for the U.S. to currently default. We can print all the money we want to. Maybe the reason S&P didn't specifically mention Republican's was because they weren't the major promoters of the idea of a default?

    “people in the political arena were even talking about a potential default,”

    Obama didn't talk about this?

    How about Timmy?

    However, should Republicans hold out on increasing the nation’s borrowing limit in an effort to enact their budget resolution, which dramatically cuts spending on the poor and elderly and taxes for the wealthy, Geithner said the GOP would “own” the ensuing economic consequences, which include a potential default on the government’s debt.

    Geithner, Defending Obama Plan, Says GOP Owns Potential U.S. Default - Tim Fernholz - NationalJournal.com
    Seriously, try to maintain at least a trace amount of credibility. Something that can at least be detected by scanning electron microscope.

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

    Quote Originally Posted by Conservative View Post
    That is ridiculous and just part of the misinformation being spread by the left and bought by the minions that want to believe the rhetoric. Cutting expenses enough wouldn't have required an increase in the debt ceiling. Paying debt service on the debt, our military, our seniors, SS/Medicare wasn't even an issue. the liberal elite are laughing their asses off at people like you buying the lies
    I'll just write it off to ignorance and Fox News.

    Next.

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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 means default.

    "Definition of DEFAULT

    1. : failure to do something required by duty or law"

    If we hadn't raised the debt ceiling we would have been unable to meet our existing financial obligations.
    Not true. We could have meet everything we are obligated to. We are not obligated to bomb Iraq, Afghanistan and Libya. We are not obligated to many of the things we pay for, we choose to. Even then, with a simple vote, we are no longer obligated to spend on things we said we would.

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

    Quote Originally Posted by AdamT View Post
    Seriously, try to maintain at least a trace amount of credibility. Something that can at least be detected by scanning electron microscope.
    Dismissed.

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

    Quote Originally Posted by AdamT View Post
    I'll just write it off to ignorance and Fox News.

    Next.
    Prove to me there would be a default of our obligations. When confused bring up Fox News! That is typical liberal scare tactics void of facts. Our only real obligations are to our seniors, to our military, and to our debt service. There is more than enough revenue to pay those obligations coming into the govt. daily. I gave you the breakdown on another thread, you obviously ignored it

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