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

  1. #71
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by ksu_aviator View Post
    Hardly. Every time we increase revenue, spending manages to go up with it. The only solution is to eliminate deficit spending.
    Deficit spending is the Prime Directive of the GOP. What good are Repubs if they can't start a another war or buy more useless military toys on the backs of future middle class generations?

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

    I didn't answer the question because it won't happen and that is not algebra.
    Various plans democrats put forward would have had both and could have happened if republicans voted it in.

    Deficit spending is the Prime Directive of the GOP. What good are Repubs if they can't start a another war or buy more useless military toys on the backs of future middle class generations?
    I'd like to take this moment to point out that it is now Democrats defending military spending, not Republicans.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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

    Quote Originally Posted by digsbe View Post
    And lowering taxes on the highest bracket by 5% doesn't give us the revenue we need to pay off trillions in deficit? The main problem is increased and monstrous spending.
    No one is saying DONT cut spending. We are also saying raise taxes on the wealthy too. Im all for adding another 15% on their backs at this moment. They need to sacrifice too. Theyve been getting a easy ride for over a decade.
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by solletica View Post
    Here's what will happen as US debt continually gets downgraded. It means the US will no longer be able to borrow any money. If the US can't borrow any money, it'll have to raise taxes to pay for it. Since the GOP refuses to cut subsidies, the extra tax burden will fall on the working class. So the GOP will become the Party of High Taxes.

    If taxes are raised, Amerians will have to borrow more. If Americans borrow more, interest rates will go up. Inevitably, more and more Americans will be bankrupted and the disparity between the working class and the (subsidized) wealthy will become larger. And the US will end up another Third World dump.

    Then the IMF will come in to bail out the US, and, as every (educated) person knows, when the IMF comes a bailin', they bringin' the SRPs with 'em!

    Ok, righties, do you know what an SRP is?
    This post is beyond silly, I would call it evil. Phoney threats about the American economy and it's ability to borrow money scares people needlessly. Have you checked on what happened to U.S. treasuries this week? People knew that the agreement did not meet the minimum requirements laid out by S&P months ago so a downgrade was not a shock to people who follow this sort of thing.

    One out of three ratings agencies lowered it's rating by 1/2 a notch, not exactly the end of the world. Certainly not good but not the end of the world as we know it.

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

    Cut spending by $3 trillion & raise revenue by $1 trillion. Pass it with bipartisanship and S&P's would have been happy.

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

    But...but...but...if we come to a debt deal and raise the debt ceiling, everything will be ok; the stock market will be good to go; we'll retain our credit rating!

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

    Quote Originally Posted by The Giant Noodle View Post
    No one is saying DONT cut spending. We are also saying raise taxes on the wealthy too. Im all for adding another 15% on their backs at this moment. They need to sacrifice too. Theyve been getting a easy ride for over a decade.
    I see your 15% and raise you another 10%. Boy, this is fun. Let's name the game : " Tax someone else".

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

    Quote Originally Posted by The Giant Noodle View Post
    No one is saying DONT cut spending. We are also saying raise taxes on the wealthy too. Im all for adding another 15% on their backs at this moment. They need to sacrifice too. Theyve been getting a easy ride for over a decade.
    It would be economic suicide to raise taxes 15%. Raise taxes on small businesses by 15%? That's just plum nuts.

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

    Quote Originally Posted by Thunder View Post
    Cut spending by $3 trillion & raise revenue by $1 trillion. Pass it with bipartisanship and S&P's would have been happy.
    I don't think that would have been sufficient enough.
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    Re: United States loses its AAA Credit rating from S & P

    Quote Originally Posted by washunut View Post
    I see your 15% and raise you another 10%. Boy, this is fun. Let's name the game : " Tax someone else".
    Yeah, because after you take all the rich folks's money, you're going to have to go after someone else's money.

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