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United States loses its AAA Credit rating from S & P

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AdamT said:
The point is that Reagan raised taxes time and time again, essentially cutting in half his initial tax cut which was totally unsustainable.

You claim to have worked during Reagan's presidency but you don't recall all of the loopholes that were eliminated? He wiped out many deductions that ended up costing many people more in taxes than they saved from the rate cuts.

"[Reagan] eventually endorsed the Tax Equity and Fiscal Responsibility Act of 1982. According to a Treasury Department analysis, it raised taxes by close to one percent of GDP, equivalent to $150 billion per year today, and was probably the largest peacetime tax increase in American history."
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Amazing that we are over 20 years after Reagan left office and you are still trying to re-write history and put him into a Thread about the Obama credit rating being downgraded. You are not going to win the argument on Reagan as I was there. Ask your parents how they felt about a 20 misery index and 10.8% unemployment? I don't know why you have such a problem with Reagan since you weren't old enough to know what he inherited and don't understand why you support Obama. There is no logic and common sense with liberals these days.

This is what you should be worried about, not what happened over 20 years ago that you don't even understand. Didn't Obama inherit a triple A credit rating from Bush? By the way how did GW Bush hurt you or your family. Your hatred seems to be very personal. Suggest you ask the 25 million unemployed or under employed Americans today how they feel about GW Bush?

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!
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Conservative said:
Obama told you he spent 800 billion to end the recession but very little of that money was spent in 2009 and the recession ended in June so where was the benefit for that spending?

He had less revenue coming in because he did absolutely nothing to grow employment thus create taxpayers. He bailed out unions and other state jobs which isn't in his job description.

You want to give Obama credit for ending the recession but ignore the results since the end of that recession. Did GW Bush sneak back into the WH and generate 2011 results? Do you realize how foolish you look and what a bad case of BDS you have? Not sure why?

42% of the people in this country now think Obama is doing a good job. You are in that group. Over 50% now state they will not vote for him. Ever think you could be wrong in your assessment of Obama and the majority right? Bush has a higher approval rating today than Obama
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No, I want to give Obama credit for doing the best he could under trying circumstances. I don't think any sane person expected him to completely reverse the worst recession in three generations over night.

As far as 2012 goes, we shall see. In the most recent CNN poll, Obama still beats all challengers.

WH2012: General
 
Conservative said:
Amazing that we are over 20 years after Reagan left office and you are still trying to re-write history and put him into a Thread about the Obama credit rating being downgraded. You are not going to win the argument on Reagan as I was there. Ask your parents how they felt about a 20 misery index and 10.8% unemployment? I don't know why you have such a problem with Reagan since you weren't old enough to know what he inherited and don't understand why you support Obama. There is no logic and common sense with liberals these days.

This is what you should be worried about, not what happened over 20 years ago that you don't even understand. Didn't Obama inherit a triple A credit rating from Bush? By the way how did GW Bush hurt you or your family. Your hatred seems to be very personal. Suggest you ask the 25 million unemployed or under employed Americans today how they feel about GW Bush?
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Yeah, I was there, too, kid. I remember all the people Reagan screwed over when he eliminted the deductions on investments they had already made. My father, specifically, had invested a lot of money in low income housing, because it was a good thing to do and because it was tax deductible. OOPS! And along comes Ronnie Raygun and suddently that investment he already made WASN'T tax deductible! Awesome.
 
AdamT said:
No, I want to give Obama credit for doing the best he could under trying circumstances. I don't think any sane person expected him to completely reverse the worst recession in three generations over night.

As far as 2012 goes, we shall see. In the most recent CNN poll, Obama still beats all challengers.

WH2012: General
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Never managed anything, have you? Most sane people understand that you cannot delegate responsibility and blame everyone else. Obama wanted the job as President, campaigned for it but doesn't have a clue how to be a leader. He has shown NO leadership skills at all but instead acts like a King, where was Obama leadership the last 3 years?. I suggest a management course to learn the roles and responsibilities of a manager. Amazing how 2 1/2 years after taking office you are still very defensive of his record. This is what will be on the ballot in 2012 and why anyone would support this record is incredible. Apparently only 42% do.

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!
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Conservative said:
Never managed anything, have you? Most sane people understand that you cannot delegate responsibility and blame everyone else. Obama wanted the job as President, campaigned for it but doesn't have a clue how to be a leader. He has shown NO leadership skills at all but instead acts like a King, where was Obama leadership the last 3 years?. I suggest a management course to learn the roles and responsibilities of a manager. Amazing how 2 1/2 years after taking office you are still very defensive of his record. This is what will be on the ballot in 2012 and why anyone would support this record is incredible. Apparently only 42% do.
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Well, he has managed to end the recession he inherited -- worst in three generations -- and he has managed to start growing GDP and employment. I would imagine he could teach you quite a bit about management.
 
AdamT said:
Yeah, I was there, too, kid. I remember all the people Reagan screwed over when he eliminted the deductions on investments they had already made. My father, specifically, had invested a lot of money in low income housing, because it was a good thing to do and because it was tax deductible. OOPS! And along comes Ronnie Raygun and suddently that investment he already made WASN'T tax deductible! Awesome.
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Kid? thanks, my grandkids will enjoy hearing that. So much hatred for Reagan and so little focus on the present. It serves no purpose to discuss Reagan with you as it makes no difference today. Obviously you need the kind of Govt. Obama is offering and from your posts I understand why. Your total lack of understanding of leadership and the role of govt. is quite telling. The nanny state from Obama suits you well.
 
AdamT said:
Well, he has managed to end the recession he inherited -- worst in three generations -- and he has managed to start growing GDP and employment. I would imagine he could teach you quite a bit about management.
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TARP ended the Recession, nothing that Obama did. How did Obama end the recession in 5 months and then have the economy turn so sour 2 years later? Thanks for the suggestion but until Obama learns how to be a manager I doubt he could teach anyone anything. He is an arrogant ass and shows it daily. You buy the smile and the rhetoric while ignoring the results. 42% support Obama today and that number is dropping. Wonder why they don't see what you see?
 
AdamT said:
You claim to have worked during Reagan's presidency but you don't recall all of the loopholes that were eliminated? He wiped out many deductions that ended up costing many people more in taxes than they saved from the rate cuts.
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I fondly remember it as a time of unbridled optimism. It was morning again in America. And we all knew it. Well, except for a few sour liberals.
 
Conservative said:
First President in U.S. History to have our credit downgraded on his watch!
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So what? I don't think they're a credible rating agency. They're responsible for $14 trillion mortgaged backed securities containing toxic assets and rating them AAA. Why do you think this so important, especially since the interest rates on U.S. Treasurys have gone down since S&P? Harping on this make you look foolish.
 
pbrauer said:
So what? I don't think they're a credible rating agency. They're responsible for $14 trillion mortgaged backed securities containing toxic assets and rating them AAA. Why do you think this so important, especially since the interest rates on U.S. Treasurys have gone down since S&P? Harping on this make you look foolish.
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I thought congress was chiefly responsible for the health of our finances...

... shouldn't it be, "first congress in US history to..." blah blah blah...?
 
The Prof said:
"put it simply, the people of this state simply cannot afford to pay any more taxes, period"

GOVERNOR ANDREW M. CUOMO STATE OF THE STATE ADDRESS | Governor Andrew M. Cuomo
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Property Taxes:

Next, we are going to have to confront the tax situation in our State. The property taxes in New York are killing New Yorkers. Thirteen of the sixteen highest tax counties are in New York when asset by home value. In absolute dollars, Westchester County the highest property taxes in the United States of America. Nassau County the second highest property taxes in the United State of America. It has to end, it has to end this year. We have to hold the line on taxes for now and reduce taxes in the future. New York has no future as the tax capital of the nation. Our young people will not stay. Our business will not come. This has to change.

Put it simply the people of this state simply cannot afford to pay any more taxes, period. I would now like to introduce you to Ms. Geraldine Sullivan. Ms. Geraldine Sullivan is a resident of Monroe County. She is 81 years young. She has been retired after 28 years at Bausch and Laumb. Geraldine lives alone on social security and owns her own home. Her home value, property value has gone down and her taxes have gone up. Geraldine could no longer afford to make ends meet. What did Geraldine do, so at 81 years old she went back to work as a lunch monitor at the local high school just to be able to stay in her home and just to be able to stay in the State of New York. Geraldine we understand your problems, help is on the way we will pass a property tax cap Geraldine once and for all and we, and Geraldine we applaud your spirit and your strength and your tenacity; let’s give Geraldine a big New York round of applause.
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pbrauer said:
Property Taxes:
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This is what governments do. All governments have two tendencies. The first is the accumulation of power. The second is the accumulation of mediocrity.
Out of these two all other evils follow.
 
AdamT said:
Naturally Obama did not come into office wanting to spend nearly a trillion dollars fighting an inherited recession
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Rahm Emanuel: You never want a serious crisis to go to waste - YouTube

any more than he wanted to pay for winding down of a war he opposed
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Obama's war: Deploying 17,000 raises stakes in Afghanistan - USATODAY.com

Nor did he want to extend the Bush tax cuts for the wealthy
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Bush tax cuts: Democrats punt until after midterm elections - CSMonitor.com
 
AdamT said:
Reagan raised payroll taxes, he instituted the largest corporate tax hike in history, and he raised the gas tax. In all, he raised taxes 11 times. Even his initial tax cut wasn't really a tax cut for many people, who ended up paying more after all of the loopholes were removed.
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hmm, what's missing from this post?

LOL!
 
pbrauer said:
Property Taxes:
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it's a lot more than that, friend

"we have the worst business tax climate in the nation, period, our taxes are 66% higher than the national average"

"the costs of pensions are exploding... a 476% increase and its only getting worse"

"the state of new york spends too much money, it is that blunt and it is that simple"

"an unsustainable rate of growth and it has been for a long time"

"not only do we spend too much, but we get too little in return"

"the large government we have is all too often responsive to the special interests over the people"

"new yorkers are voting with their feet, two million new yorkers have left the state over the past decade"

"what does this say, it says we need radical reform, it says we need a new approach, we need a new perspective and we need it now"

"this is a fundamental realignment for the state"

"the old way wasn't working anyway, let's be honest"

"we want a government that puts the people first and not the special interests first"

"what made new york the empire state was a not a large government complex, it was a vibrant private sector that was creating great jobs"

"and that's what's going to make us the empire state again"

"at the heart of this state is business"

"we have to relearn the lesson our founders knew and we have to put up a sign that says new york is open for business, we get it, and this is going to be a business friendly state"

"we are going to have to confront the tax situation in our state, property taxes in this state are killing new yorkers, thirteen of the sixteen highest tax counties are in new york when assessed by home value"

"westchester county has the highest property taxes in the united states, nassau county has the second highest"

"it has to end, it has to end this year"

"we have to hold the line on taxes for now and reduce taxes in the future, new york has no future as the tax capital of the nation, our young people will not stay, our business will not come"

"put it simply, the people of this state simply cannot afford to pay any more taxes, period"

"we have to start with an emergency financial plan to stabilize our finances, we need to hold the line and we need to institute a wage freeze in the state of new york, we need to hold the line on taxes, we need a state spending cap and we need to close this $10 billion gap without any borrowing"

GOVERNOR ANDREW M. CUOMO STATE OF THE STATE ADDRESS | Governor Andrew M. Cuomo

Cuomo budget: $10 billion deficit cut, no new taxes, layoffs likely

Andrew Cuomo approval sky-high, new poll suggests - Jennifer Epstein - POLITICO.com
 
Damn this sh*t is old... and rank. My fellow Americans leave me scratching my head yet again. All of you are well meaning, but you're not looking past the party pageantry and scenery to see that this is all just theater.

Carter this, Reagan that, Clinton... Bush... Obama...

The reality is folks, that not one administration, not one congress in many generations has lived within our budget. That means they've ALL failed us. All you lot are doing is jockeying for who failed us less...

... and that is NOT the conversation we should be having... if you can call endless, pointless finger pointing a conversation.

Here is another historical constant... If the government, particularly a segment of government (party, party faction or politician) is trying to sell you one thing, you can bet what's in the box ain't as advertised and is most often something else entirely.

Bet on it. Now there are some derivatives I could get behind! Short selling our politicians.

By all means, if that's the conversation you really want to have, who failed most, in EVERY FREAKIN ISSUE AND TOPIC, by all means, piss your lives away.

If you want things fixed this is the last conversation we should be having...

carry on...
 
pbrauer said:
So what? I don't think they're a credible rating agency. They're responsible for $14 trillion mortgaged backed securities containing toxic assets and rating them AAA. Why do you think this so important, especially since the interest rates on U.S. Treasurys have gone down since S&P? Harping on this make you look foolish.
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2 1/2 years after taking office these are the Obama results and 2 years after the end of the recession. Is this what you voted for?

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!
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