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

  1. #1991
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Boo Radley View Post
    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.
    Is that the role of the Federal Govt., to take over state responsibility? Who funds police, firefighters, and teachers? How much did we lose on the GM/Chrysler deal? Oh, well, it is just a few billion dollars, not real money

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

    Quote Originally Posted by Boo Radley View Post
    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.
    It was a PROJECTED Deficit, what did Obama do to prevent that deficit from becoming reality? Where is the repayment of the TARP money?

  3. #1993
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Conservative View Post
    Is that the role of the Federal Govt., to take over state responsibility? Who funds police, firefighters, and teachers? How much did we lose on the GM/Chrysler deal? Oh, well, it is just a few billion dollars, not real money
    Different issue, but largely the same thing republicans have done. Focus. Stop being distracted by squirrels. This is what he did.

    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
    It was a PROJECTED Deficit, what did Obama do to prevent that deficit from becoming reality? Where is the repayment of the TARP money?
    Again, a different issue. You blamed him for creating it. I claimed a good amount of it was Bush's. You said it was silly to say that. I now provide support that it was. So, no squirrels. Focus and admit I was correct and you were wrong.


    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
    Different issue, but largely the same thing republicans have done. Focus. Stop being distracted by squirrels. This is what he did.
    Stop parroting the liberal lies and distortions. That projected deficit ignores the spending that was done to turn the economy around, TARP and Stimulus spending. TARP was 350 billion spent by Bush and the rest spent by Obama. Where did the repayment of TARP show up on the budget and did it reduce the deficit? What did Bush have to do with the stimulus spending or the Afghanistan Troop surge? You have a selective, partisan view of what happened in 2009 giving Obama a pass and blaming everything on Bush. How about answering the questions for a change

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

    Quote Originally Posted by Conservative View Post
    Stop parroting the liberal lies and distortions. That projected deficit ignores the spending that was done to turn the economy around, TARP and Stimulus spending. TARP was 350 billion spent by Bush and the rest spent by Obama. Where did the repayment of TARP show up on the budget and did it reduce the deficit? What did Bush have to do with the stimulus spending or the Afghanistan Troop surge? You have a selective, partisan view of what happened in 2009 giving Obama a pass and blaming everything on Bush. How about answering the questions for a change
    I have the fact check in front of you. You're wrong about the 2009 budget. Admit it.

    And pot to kettle. speaking of partisan views, can you really not see your own partisanship and how you ignore anything contray to your partisan spin? Seriously?

    Squirrel!!!!!!

    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.

  7. #1997
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by Boo Radley View Post
    I have the fact check in front of you. You're wrong about the 2009 budget. Admit it.

    And pot to kettle. speaking of partisan views, can you really not see your own partisanship and how you ignore anything contray to your partisan spin? Seriously?

    Squirrel!!!!!!
    Fact check shows that there was a projected deficit of 1.2 trillion dollars which happens to be close but not due to anything that Obama did to prevent it from growing. Where is the TARP repayment in that deficit? What did the stimulus program add to the deficit and how about the Afghanistan supplementals? Keep spinning

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

    Quote Originally Posted by Conservative View Post
    Fact check shows that there was a projected deficit of 1.2 trillion dollars which happens to be close but not due to anything that Obama did to prevent it from growing. Where is the TARP repayment in that deficit? What did the stimulus program add to the deficit and how about the Afghanistan supplementals? Keep spinning
    It's not about preventing it from growing, as you try to divert. It was the budget under Bush, already moving when obama took over.

    And do keep in mind, Bush even holds responsibility for Afghanistan, as he both started that war and ignored it to the point of allowing the situation to deteriorate.

    Admit it, you are simply wrong, factually.

    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
    It's not about preventing it from growing, as you try to divert. It was the budget under Bush, already moving when obama took over.

    And do keep in mind, Bush even holds responsibility for Afghanistan, as he both started that war and ignored it to the point of allowing the situation to deteriorate.

    Admit it, you are simply wrong, factually.
    The budget that Bush submitted didn't have a 1.2 trillion dollar deficit. Now if you want to continue to talk about Bush then carry on but all that does is divert from the disaster that Obama is. Bush is out of office and my bet is you will still be blaming him 10 years from now. Bush didn't authorize the troop surge in Afghanistan

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

    Quote Originally Posted by Conservative View Post
    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.
    George W. Bush

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