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

  1. #1981
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by winston53660 View Post
    yes this debt suddenly popped up over night the night Obama assumed office. Damn Obama damn OBAMA!!!!
    Everything has to Obama's fault. Before, we were perfect as a nation, no debt, no needless wars, pure capitalistic heaven on earth.


    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
    Everything has to Obama's fault. Before, we were perfect as a nation, no debt, no needless wars, pure capitalistic heaven on earth.

    I have an ingrown hair on my scrotum. DAMN OBAMA!

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

    Quote Originally Posted by winston53660 View Post
    yes this debt suddenly popped up over night the night Obama assumed office. Damn Obama damn OBAMA!!!!
    Aw, stop the bs, the debt just didn't pop up when Obama took office but then again we never had 3.7 trillion in spending before or 4 trillion added to the debt in such a short period of time. The debt Obama inherited was 10.6 trillion dollars, the debt that Bush inherited was 5.7 trillion, the debt that Clinton inherited was 4.4 trillion, the debt that GWH Bush inherited was 2.6 trillion and the debt that Reagan inherited was 900 billion.

    That damn Obama took Bush spending and put it on steroids, keep ignoring that reality.

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

    Quote Originally Posted by Conservative View Post
    Aw, stop the bs, the debt just didn't pop up when Obama took office but then again we never had 3.7 trillion in spending before or 4 trillion added to the debt in such a short period of time. The debt Obama inherited was 10.6 trillion dollars, the debt that Bush inherited was 5.7 trillion, the debt that Clinton inherited was 4.4 trillion, the debt that GWH Bush inherited was 2.6 trillion and the debt that Reagan inherited was 900 billion.

    That damn Obama took Bush spending and put it on steroids, keep ignoring that reality.
    Not really. That's just the aprtisan spin. Some of what you attribute to Obama was actually Bush's. Facts are pesky things.

    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
    Exactly! No movement before Obama. Just massive debt before Obama. I'll other spin why that is to suit their own agendas, but there was massive spending and no movement. Not even during Bush's tax cut and spend days.
    Name for me one Republican President that ever generated 4 trillion dollars in debt in 3 years? What did we get for that spending, more unemployed, fewer employed, a declining labor force, and a credit downgrade.

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

    Quote Originally Posted by Boo Radley View Post
    Not really. That's just the aprtisan spin. Some of what you attribute to Obama was actually Bush's. Facts are pesky things.
    Right, Bush was in office from October 1, 2000 until January 20, 2001, part of fiscal year 2009 and created a 1.2 trillion dollar deficit? Do you realize how stupid that claim is? Where was the repayment of TARP applied to that Bush deficit?

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

    Quote Originally Posted by winston53660 View Post
    yes this debt suddenly popped up over night the night Obama assumed office. Damn Obama damn OBAMA!!!!
    I always thought it was awfully convenient that the housing bubble popped JUST as Obama was a shoe-in for pres.

    Like someone waited til the last possible second for maximum blame for the new guy and maximum yield for the sponsors of the old guy.

    Then, POP!
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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

    Quote Originally Posted by What if...? View Post
    I always thought it was awfully convenient that the housing bubble popped JUST as Obama was a shoe-in for pres.

    Like someone waited til the last possible second for maximum blame for the new guy and maximum yield for the sponsors of the old guy.

    Then, POP!
    Obama took over an economy that was shedding jobs and what did he do, bailed out unions and spent money on states instead of forcing states to handle their own issues. Then he focused full time on a real jobs killer, Obamacare. Keep making excuses for this incompetent empty suit for that is what liberals seem to always do.

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

    Quote Originally Posted by Conservative View Post
    Obama took over an economy that was shedding jobs and what did he do, bailed out unions and spent money on states instead of forcing states to handle their own issues. Then he focused full time on a real jobs killer, Obamacare. Keep making excuses for this incompetent empty suit for that is what liberals seem to always do.
    No, he bailed out the auto industry, and kept teachers, police officers and firefighters employed. You know, those evil, evil people we should do away with.

    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
    Right, Bush was in office from October 1, 2000 until January 20, 2001, part of fiscal year 2009 and created a 1.2 trillion dollar deficit? Do you realize how stupid that claim is? Where was the repayment of TARP applied to that Bush deficit?
    The deficit was already running at $1.2 trillion when Obama took office, and it grew to more than $1.4 trillion during his administration an increase of far less than 400 percent to 500 percent. As for the auto bailout money, nearly 50 percent of the roughly $80 billion has been paid back. By any reasonable measure, half is not "a small share.

    (snip)

    As we have written twice before, the nonpartisan Congressional Budget Office projected the fiscal year 2009 deficit at $1.2 trillion two weeks before Obama took office. That fiscal year started Oct. 1, 2008. The fiscal year was already nearly one-third over when Obama took office on Jan. 20, 2009. After Obama took office, the deficit increased to $1.4 trillion for fiscal year 2009. At the end of the fiscal year, the CBO largely blamed the 2009 deficit on the recession, specifically a sharp decline in tax revenues and an increase in spending in response to the economic crisis first by Bush and later by Obama.

    Romney Wrong on Deficits, Auto Bailout | FactCheck.org

    As I said, facts are pesky things, if you bother to consider them.

    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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