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Thread: US Debt Could Double in 25 Years With Current Policies

  1. #91
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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Kushinator View Post
    Your statement and link do not support your argument that the Banking Act of 1933 undermined confidence in banks.
    Show me the post where I commented about the Banking Act of 1933 ?

    You had earlier praised FDR on his banking policies, and I only commented that he had done some banking things not worthy of praise as well.

    Just go and pull the quote. I already posted it once, and yet you choose to remain dishonest about it.

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    Re: US Debt Could Double in 25 Years With Current Policies

    Fitch Ratings has repeated its warning that it will cut the U.S. credit rating in 2013 if the U.S. fails to come up with a credible fiscal consolidation plan.

    From Reuters:

    Fitch Ratings reiterated on Thursday it would cut its sovereign credit rating for the United States next year if Washington cannot come to grips with its deficits and create a "credible" fiscal consolidation plan...

    "The United States is the only country (of four major AAA-rated countries) which does not have a credible fiscal consolidation plan," and its debt-to-GDP ratio, or how much debt it has relative to the size of the economy, is expected to increase over the medium term, Ed Parker, sovereign ratings analyst, told a Fitch conference in New York.
    U.S. rating faces 2013 cut if no credible plan: Fitch | Reuters

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by donsutherland1 View Post
    Fitch Ratings has repeated its warning that it will cut the U.S. credit rating in 2013 if the U.S. fails to come up with a credible fiscal consolidation plan.

    From Reuters:



    U.S. rating faces 2013 cut if no credible plan: Fitch | Reuters
    Interesting that they will decide after the elections. I guess they do not want the administration to be mad at them and ask some tough questions about how rating agencies get paid by the people they rate.

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by washunut View Post
    Interesting that they will decide after the elections. I guess they do not want the administration to be mad at them and ask some tough questions about how rating agencies get paid by the people they rate.
    Their decision will be based on a number of significant decisions that will come up early next year.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by AdamT View Post
    Their decision will be based on a number of significant decisions that will come up early next year.
    So they are saying that they will downgrade if Obama is reelected and does what he promises, including a new stimulus program in 2013?

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by washunut View Post
    So they are saying that they will downgrade if Obama is reelected and does what he promises, including a new stimulus program in 2013?
    No, essentially they're saying they will downgrade if the teabagger Congress continues to refuse to negotiate, indicating that wer're in for at least another two years of ungovernable stupidity.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by AdamT View Post
    No, essentially they're saying they will downgrade if the teabagger Congress continues to refuse to negotiate, indicating that wer're in for at least another two years of ungovernable stupidity.
    Whoa. It ain't the DNC setting the credit rating ! Good heavens !! Its folks who see Obama as clueless !

    WTFU already/

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by AdamT View Post
    No, essentially they're saying they will downgrade if the teabagger Congress continues to refuse to negotiate, indicating that wer're in for at least another two years of ungovernable stupidity.
    They downgraded us because we can't set a budget. The Senate refuses to pass a budget. Those are the people you should be targeting. Congress has passed a ton a budgets since it has gotten out of the hands of the Dems. I know...Pelozi couldn't pass a budget because it might hurt the Dems during the 2010 elections. Ooops.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: US Debt Could Double in 25 Years With Current Policies

    The problem with our Congress lies on both sides of the aisle since neither side is willing to budge on their Golden Calves and, in the last couple of decades, the word "compromise" has become a dirty word in the highly polarized politics plaguing our nation.

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Rising Sun View Post
    The problem with our Congress lies on both sides of the aisle since neither side is willing to budge on their Golden Calves and, in the last couple of decades, the word "compromise" has become a dirty word in the highly polarized politics plaguing our nation.
    Except now, with Obama, it starts all the way at the top. His platform is class warfare. He is unfit to command.

    Romney, agree or disagree with his politics, is not the assclown Obama is. Neither was W.

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