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

  1. #1841
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Spending is the problem, not tax cuts. People keeping more of what they earn always benefits the family and thus means less need for that govt. "help" liberals want to provide. The wars cost us 140 billion a year over the past 10 years so you are overstating the cost for what reason, I don't know. Only if you justify spending 3.7 trillion dollars a year in govt. spending do we have a revenue problem. By the way, thought Obama ended the wars and closed GITMO thus there hasn't been any expense the last 2 1/2 years. I believe S&P knows that the wars aren't as costly as they were during the Bush years. Adding 4 trillion in the last 2 1/2 years didn't help the credit rating.

    Hmm…you say that I am overstating the cost of our wars? Hell, I’m not even including the cost of our half war, Libya (two mill a day).

    That counter that I posted gets their numbers from the funding that has been requested by the President and appropriated by Congress.

    Your 140 billion seems to conflict with the $169.4 billion that was allocated on April 2011.Its kinda odd that you say 140 billion and congress would allocate $169.4 billion?

    Just think, if we had the $2.5 billion cushion of the bush tax-cuts (an aside)has a nice ring to it doesn’t it? kinda like the Hoover depression eh?

    Now where were we? Oh yes…the bush tax cuts would have been a nice cushion for the tail end of the great bush d..eh,er, recession. it surely would have saved our AAA rating.

    I wonder what that will end up costing us in the long run, more than likely the cost will be much more than a tax hike, or eliminating the oil companies welfare benefits. So sad.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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

    Quote Originally Posted by donc View Post
    Like I said prior to the new formatting, it was pure idiocy cutting taxes while we are at war. Drove us into the downgrade from AAA to AA+. Now lets hear your latest spin on that…yet again.
    I had never heard tell of the tax cut and spend theory before Bush actually did it. No thinking person can think it was a good idea.

    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
    Your definition of accuracy is out of touch with reality. In order to edit for accuracy you would have to be accurate and you have refuted nothing that I posted. I guess you must have missed the latest polling results so let me help you. The worst President in Modern History, Jimmy Carter is happy to have Barack Obama in the WH. He will be replaced by Obama. Nice guy, Obama, but incompetent as the results show.

    Obama's Approval Rating Drops to Lowest Ever, According to Gallup

    Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!
    Where was Bush in 2005 and 2006?
    The global housing boom: In come the waves | The Economist

    Coming recession will be nastier than 2001's, economist says - MarketWatch

    WASHINGTON (MarketWatch) -- The United States is headed for a recession that will be "much nastier, deeper and more protracted" than the 2001 recession, says Nouriel Roubini, president of Roubini Global Economics.

    Writing on his blog Wednesday, Roubini repeated his call that the U.S. would be in recession in 2007, arguing that the collapse of housing would bring down the rest of the economy. Read more.

    Roubini wrote after the National Association of Realtors reported Wednesday that sales of existing homes fell 4.1% in July, while inventories soared to a 13-year high and prices flattened out on a year-over-year basis. See full story.


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

    Quote Originally Posted by donc View Post
    Hmm…you say that I am overstating the cost of our wars? Hell, I’m not even including the cost of our half war, Libya (two mill a day).

    That counter that I posted gets their numbers from the funding that has been requested by the President and appropriated by Congress.

    Your 140 billion seems to conflict with the $169.4 billion that was allocated on April 2011.Its kinda odd that you say 140 billion and congress would allocate $169.4 billion?

    Just think, if we had the $2.5 billion cushion of the bush tax-cuts (an aside)has a nice ring to it doesn’t it? kinda like the Hoover depression eh?

    Now where were we? Oh yes…the bush tax cuts would have been a nice cushion for the tail end of the great bush d..eh,er, recession. it surely would have saved our AAA rating.

    I wonder what that will end up costing us in the long run, more than likely the cost will be much more than a tax hike, or eliminating the oil companies welfare benefits. So sad.
    Interesting logic that has yet to address why we need a 3.7 trillion dollar Federal Govt? The wars cost 140 billion a year and are winding down but that doesn't matter, Obama continues to spend 3.7 trillion dollars a year. Unless you work for the govt. your income isn't an expense to the taxpayer. Guess that doesn't register yet with you.

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

    Quote Originally Posted by Boo Radley View Post
    I had never heard tell of the tax cut and spend theory before Bush actually did it. No thinking person can think it was a good idea.
    Anything to divert from the Obama record. Wonder why Obama has a 39% approval rating? It is all Bush's fault

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

    Quote Originally Posted by Boo Radley View Post
    Can you show any evidence that when republicans were in charge that they controlled spending? I think both spent. Do you disagree?
    Yes both did spend, and repubs paid by losing control of congress. Are you really trying to make the childish argument that demo spending at a rate at least 3 times that of repubs is ok because repubs did it too?


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

    Quote Originally Posted by Boo Radley View Post
    I had never heard tell of the tax cut and spend theory before Bush actually did it. No thinking person can think it was a good idea.

    It has been around a long time, you just haven't been listening....Or you are being disingenuous.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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

    Quote Originally Posted by hazlnut View Post
    How to create a GOP talking point 101

    1) Take any negative sounding stat completely out of context and attribute it to Obama.

    2) Create false and far-fetched cause/effect relationships.

    3) Have Short term memory issues when discussing major causes of current debt. (unfunded wars, prescription bill, bailouts, TAX BREAKS FOR THE WEALTHY)

    4) View all economics policy outcomes on a daily and weekly basis--not the usual 5-10 years.
    If what I took was out of context then it wouldn't be difficult to refute it with actual facts. You haven't done that. Love it, liberals have a problem with others that keep more of what they earn. Tax breaks for the wealthy didn't create the 14.5 trillion dollar debt and raising them on the rich isn't going to pay it off. Class warfare is all liberals have and have been practicing it for decades. I have yet to see a valid argument supporting class warfare as a viable economic model. Barack Obama is spending 3.7 trillion dollars a year and blaming it on someone else. 4 trillion has been added to the debt in the last 3 years and he is blaming that on everyone else but himself. His economic policy is a failure and his approval rating is at a record low of 39%. Guess I found someone else in that 39%. Wonder what it is about the liberal ideology that creates such loyalty and is so subjected to brainwashing?

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

    Quote Originally Posted by Conservative View Post
    If what I took was out of context then it wouldn't be difficult to refute it with actual facts. You haven't done that. Love it, liberals have a problem with others that keep more of what they earn. Tax breaks for the wealthy didn't create the 14.5 trillion dollar debt and raising them on the rich isn't going to pay it off. Class warfare is all liberals have and have been practicing it for decades. I have yet to see a valid argument supporting class warfare as a viable economic model. Barack Obama is spending 3.7 trillion dollars a year and blaming it on someone else. 4 trillion has been added to the debt in the last 3 years and he is blaming that on everyone else but himself. His economic policy is a failure and his approval rating is at a record low of 39%. Guess I found someone else in that 39%. Wonder what it is about the liberal ideology that creates such loyalty and is so subjected to brainwashing?

    I guess that is what we get as a nation when we allow one ideology to indoctrinate our children from the age of 7 on up with revisionist history.


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    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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

    Quote Originally Posted by j-mac View Post
    I guess that is what we get as a nation when we allow one ideology to indoctrinate our children from the age of 7 on up with revisionist history.


    j-mac

    What revisionist history effected our going from AAA to AA+?
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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