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

  1. #1751
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Ockham View Post
    The results of a balanced budget amendment - is that also stupid?
    What results? There are ways around the budget. Bush ran the wars off the budget. A balanced budget is a figment of your imagination. THINK!!


  2. #1752
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by pbrauer View Post
    What results?
    Right... I thought it was obvious but to you it's not. The result of a balanced budget amendment is that there would be Constitutional requirement to balance the Federal budget.

    You didn't answer the question... THINK!
    I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on whats being proposed here, hed 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.


  3. #1753
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Boo Radley View Post
    The CSBA agreed and blamed the ballooning budgets on the Bush administration's unprecedented decision to fund the wars through giant emergency spending measures rather than through appropriations requests.

    "The process has reduced the ability of Congress to exercise effective oversight. It has also tended to obscure the long-term costs and budgetary consequences of ongoing military operations," the report says. It also warns that such emergency bills have included "substantial amounts of funding for programs unrelated to the military operations in Iraq and Afghanistan."

    (snip)

    The report also rapped the Bush administration's paying for the wars through borrowing, rather than tax increases and spending cuts. That approach, it concluded, will lead to interest costs through 2018 that range from about $70 billion to as high as about $700 billion, depending on how much of the war funding came through bond sales.

    Study Criticizes Bush Approach to War Funding, Calls for Changes


    Stillcliaming the GOP doesn't spend?
    Now that Obama has ended the Iraq, Afghanistan Wars and closed GITMO we won't have to worry about deficits any more

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

    Quote Originally Posted by AdamT View Post
    Wow, put down the Koolaid, kid. Do you HONESTLY believe that Bush did not foresee that the Iraq and Afghanistan wars needed to be funded every year? You are either extremely gullible or you have a serious integrity problem.
    Where does the 600 billion a year in Defense budget go?

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

    Quote Originally Posted by Conservative View Post
    Now that Obama has ended the Iraq, Afghanistan Wars and closed GITMO we won't have to worry about deficits any more
    Nice effort to avoid answering (not really). Are you still claiming republicans don't spend?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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

    Quote Originally Posted by Boo Radley View Post
    Nice effort to avoid answering (not really). Are you still claiming republicans don't spend?
    Republicans spend but Obama put Republican spending on steroids thus the 4 trillion added to the debt in less than 3 years.

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

    Quote Originally Posted by Conservative View Post
    Republicans spend but Obama put Republican spending on steroids thus the 4 trillion added to the debt in less than 3 years.
    Debatable, but meaningless. The fact is republicans spend just as democrats do. If you'reconcerned with spending, you might want to look elsewhere.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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

    Quote Originally Posted by Conservative View Post
    Where does the 600 billion a year in Defense budget go?
    Irrelevant. Bush knew perfectly well that on-budget defense spending was inadequate to support the wars.

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

    Quote Originally Posted by AdamT View Post
    Irrelevant. Bush knew perfectly well that on-budget defense spending was inadequate to support the wars.
    So when you have no response you call it irrelevant. Goes to show just how much you know about the budget process and what the items in those budgets fund. So now we know that you don't understand when the fiscal year of the U.S. begins and ends plus now we know you don't understand budgeting. Carry on. Let me give you a hint, the Defense budget funds our military and pays the members of the military and also funds the wars

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

    Quote Originally Posted by Conservative View Post
    So when you have no response you call it irrelevant. Goes to show just how much you know about the budget process and what the items in those budgets fund. So now we know that you don't understand when the fiscal year of the U.S. begins and ends plus now we know you don't understand budgeting. Carry on. Let me give you a hint, the Defense budget funds our military and pays the members of the military and also funds the wars
    You're just blathering. The fact is that Bush hid the cost of the wars by paying for them off budget. He and everyone else knew perfectly well that on-budget defense funding was inadequate.

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