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

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    Educator shintao's Avatar
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    Re: United States loses its AAA Credit rating from S & P

    It is all Bush's fault!!! I don't think so, but if the economy is an oak tree, Bush was the acorn that started the growth. The wild behavior and being out of control among both parties goes back to the Clinton impeachment, the point where we decided to divide the nation & pick which side our resentment for the other side would be on. Our silliness to listen to the experts who said we could have our cake (two wars) and eat it too (tax cuts in 2 wars). What were we thinking, or were we?
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Mr. Invisible View Post
    I think that its legitimately f'ed up when sovereign nations allow credit rating agencies to shove them around and tell them what to do.
    Especially after they have shown that they are perfectly willing to be bought off.

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

    Quote Originally Posted by shintao View Post
    It is all Bush's fault!!! I don't think so, but if the economy is an oak tree, Bush was the acorn that started the growth. The wild behavior and being out of control among both parties goes back to the Clinton impeachment, the point where we decided to divide the nation & pick which side our resentment for the other side would be on. Our silliness to listen to the experts who said we could have our cake (two wars) and eat it too (tax cuts in 2 wars). What were we thinking, or were we?
    This problem started well before that.

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

    Hands-down this is the scariest news stories of the week. Maybe the year. We're gonna be lucky if the Stock Market drops by anything less than 800 points Monday.

    Is this the same Standard & Poor that assigned AAA ratings to junk bonds a few years ago? The junk bonds that Goldman Sach's bet against because they knew they were junk? I swear to god. Is there any avenue for appeal here? Lawsuit for acting in bad faith? Buehler? And what's up with their alleged two-TRILLION dollar error?

    One diamond in the rough here--the other two credit rating agencies will not be making any similar moves.

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

    Quote Originally Posted by The Giant Noodle View Post
    They lowered it because congress didnt go far enough to shore up its finances. This is 100% on the fault of the Tea Party and Republicans. They needed to raise taxes on the wealthy and didnt. Now we have this!!!!!!!!!!!
    I agree with your first comment. It is because Congress didn't do enough. As far as the Tea Party and Repub comment, it is all political opinion. So in your view the Dems are blameless?, I don't think so. The financial mess has developed of many years. Besides, the Dems control the Senate.
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    Educator shintao's Avatar
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by 1Perry View Post
    This problem started well before that.
    It's hard to imagine that it did. I have a vivid recollection of the Gulf War, that we were pretty much a united people, cept for the usual protesters. Today you judge your neighbors and those in the crowds by who they are politically, as you chose your circle of friends. Your family gatherings become divided into camps over these issues. I see the escalation in arrogance to think we can do as we please, including murder, torture & rape innocent chained & detained women & children, invade sovereign nations, and put the threat of economic sanctions on anyone who disagrees with us.
    Last edited by shintao; 08-06-11 at 10:53 AM.
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by shintao View Post
    It's hard to imagine that it did. I have a vivid recollection of the Gulf War, that we were pretty much a united people, cept for the usual protesters.
    I'm not sure if you are old enough to remember the Bork and Thomas USSC hearings or not but they were every bit as venomous as any of the things you note.

    That aside, I may have initially misunderstood your point as I was thinking it was about the financial mess but even now, I'll say the divide started well before the impeachment hearings.

    Today you judge your neighbors and those in the crowds by who they are politically, as you chose your circle of friends. Your family gatherings become divided into camps over these issues. I see the escalation in arrogance to think we can do as we please, including murder, torture & rape innocent chained & detained women & children, invade sovereign nations, and put the threat of economic sanctions on anyone who disagrees with us.
    I can honestly say that I've never lost or picked a friend over political issues.
    Last edited by 1Perry; 08-06-11 at 11:23 AM.

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

    This rating evaluation is a recognition of the reality that we now have people entrusted with the power of governing who actually hate and despise government and would risk the health of the nation in order to pursue extremist ideological crusades simply based on a far right belief system.
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    Re: United States loses its AAA Credit rating from S & P

    well at least now we know what harry Reid's press release is going to say.



    in realityland, however, S&P said they wanted a $4T deal. Republicans offered a $6T debt reduction, and then when that was rejected agreed to a $4T deal so long as no more than $800 Bn came in from increased Revenue. Obama came back and killed that by saying that $1.2T had to come from increased revenue at a minimum, and so we ended up with our current two-part "$2.5T" deal (that isn't - baselines are wonderful things). Meanwhile the President has offered one plan that was so ludicrous not a single Democrat was willing to vote for it and he reneged and called for a mulligan... and it's been coming up on 850 days since the Democrat-led Senate voted on a budget.

    Even when Obama talks about the deficit, what does he say? "we have to look like we're fixing this debt thing so we can get back to more spending."


    S&P was right to do what they did. The US has been irresponsibly profligate.

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