Page 3 of 3 FirstFirst 123
Results 21 to 26 of 26

Thread: Moody's: Neither Debt Plan Protects the Nations' AAA Rating

  1. #21
    Sage
    cpwill's Avatar
    Join Date
    Dec 2009
    Location
    USofA
    Last Seen
    Today @ 12:35 AM
    Gender
    Lean
    Conservative
    Posts
    57,067

    Re: Moody's: Neither Debt Plan Protects the Nations' AAA Rating

    Quote Originally Posted by Objective Voice View Post
    As to the Tea Party, as I said, okay, NOW they hold Republican's feet to the fire in insisting on more spending cuts and a balanced budget amendment. But as I've pointed out neither the CCB bill proposed in the House, the debt limit agreement presently (and apparently reached by members of Congress) nor the 1985 Balanced Budget and Emergency Deficit Control at did anything to rein in spending in those areas we're being told are costing our government the most - Social Security, Medicare and VA benefits. Democrats haven't touched them and except for Paul Ryan's Medicare plan Republicans stayed clear of messing with them, too. Yet, who has the Tea Party attacked the most since prior to the Nov 2010 midterms? I don't have to tell you because you already know the answer to that question.
    well yeah. since that time, Republicans have voted for the Ryan Plan, and Democrats have generally reacted to any discussion of entitlement cuts like



    however, it is worth noting that you are not fully correct. Republicans were able to prove that market pressure can produce amazing results in Medicare with Part D, and George Bush had a drive to fix Social Security in 2005.

  2. #22
    Sage
    lpast's Avatar
    Join Date
    Mar 2011
    Location
    Fla
    Last Seen
    05-21-16 @ 10:12 PM
    Gender
    Lean
    Independent
    Posts
    13,565

    Re: Moody's: Neither Debt Plan Protects the Nations' AAA Rating

    Neither debt plan will work...because NEITHER party is even addressing cuts that really are needed FIRST....and thats bring all non essential troops home...like from Germany where their only purpose is to enhance the german economy.
    Neither side is addressing the costs of illegal immigration and STOPPING ALL AID to those who come here illegally including free healthcare so they get their ass outta here.
    Neither side will cut their pet Taxpayer giveaway subsidies to superrich Corporations like Big Oil and Big Farms.....until each party starts cutting the true fat...I WILL not support cutting Social Security and Medicare for future generations....they should be cut LAST and everything non american cut first and all the corporate pigs at the trough handouts....the teaparty is for the rich of the rich period and they prove it everytime they open their mouths...and most of their supporters are dumb as doornails because their policies will hurt them....braindead

  3. #23
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    12-09-17 @ 07:36 AM
    Gender
    Lean
    Conservative
    Posts
    76,237

    Re: Moody's: Neither Debt Plan Protects the Nations' AAA Rating

    Quote Originally Posted by Kandahar View Post
    First of all, I'd like to point out that Moody's itself should be a junk bond. I mean, why does anyone still attach any credibility to them in the first place? A better measure of creditworthiness is the interest rates that investors demand on government bonds.



    There is nothing fiscally responsible about pushing the nation to the brink of default. 22 Republican congresspeople rejected even Boehner's plan as too warm and fuzzy, indicating that there is a certain bloc that will not vote for a debt ceiling hike under any circumstances. Furthermore, among those who DID vote for Boehner's plan, many did so only grudgingly and with an attached demand that they know will not happen (i.e. a balanced budget amendment).

    Then we can go into the fact that the supposedly responsible right-wing fringe (to borrow your terminology) has mainly focused on cuts to non-defense discretionary spending in the current debt ceiling debate...which is at historically normal levels, easily reversible by future congresses, and should certainly not be cut during a period of high unemployment. Any truly "fiscally responsible" proposal will mostly leave this alone, and instead focus on the four areas which actually ARE a problem and are driving our long-term deficit: Health care, social security, defense spending, and tax policy.

    So I agree with Moody's that neither debt plan is responsible...because they're focusing on entirely the wrong kind of cuts. With that said, I'm less concerned about what Moody's thinks than what bondholders think. Bondholders have been kind to the United States because they recognize that these problems are not as intractable, severe, or imminent as they are often portrayed...but this could all change if the government does not act to raise (or eliminate or ignore) the debt ceiling. The fiscal problems of the United States are long-term; we have time to correct our course and it's not going to happen in the next couple weeks. We need to get past the immediate threat of political default before we can focus on the long-term fiscal problems.

    I compare it to a ship getting blown off course: The captain knows that he'll need to veer slightly north in order to reach his destination in 1,000 miles. But there's an iceberg in his path in another mile...does it make more sense to go around the iceberg and THEN veer north, or to head directly for the iceberg?
    So you didn't have the guts to berrate the Democrats who voted against the plan?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  4. #24
    Banned
    Join Date
    Jun 2011
    Last Seen
    03-16-12 @ 11:02 PM
    Gender
    Lean
    Libertarian
    Posts
    7,624

    Re: Moody's: Neither Debt Plan Protects the Nations' AAA Rating

    Quote Originally Posted by lpast View Post
    Neither debt plan will work...because NEITHER party is even addressing cuts that really are needed FIRST....and thats bring all non essential troops home...like from Germany where their only purpose is to enhance the german economy.
    Neither side is addressing the costs of illegal immigration and STOPPING ALL AID to those who come here illegally including free healthcare so they get their ass outta here.
    Neither side will cut their pet Taxpayer giveaway subsidies to superrich Corporations like Big Oil and Big Farms.....until each party starts cutting the true fat...I WILL not support cutting Social Security and Medicare for future generations....they should be cut LAST and everything non american cut first and all the corporate pigs at the trough handouts....the teaparty is for the rich of the rich period and they prove it everytime they open their mouths...and most of their supporters are dumb as doornails because their policies will hurt them....braindead
    An excellent example of not allowing ones personal biases ruin an otherwise good arguement.

    Political Class Dismissed Blog Archive Tea Party Coalition Declares War on Corporate Welfare

  5. #25
    Enemy Combatant
    Kandahar's Avatar
    Join Date
    Jul 2005
    Location
    Washington, DC
    Last Seen
    10-15-13 @ 08:47 PM
    Gender
    Lean
    Liberal
    Posts
    20,688

    Re: Moody's: Neither Debt Plan Protects the Nations' AAA Rating

    Quote Originally Posted by American View Post
    So you didn't have the guts to berrate the Democrats who voted against the plan?
    You mean the ones who voted against Boehner's plan? Or do you mean the agreement that actually ended up passing? As far as I can tell there is no reason to believe that the Democrats who voted against the final plan wouldn't have been amenable to raising the debt ceiling if the final agreement was different (I'm unaware of a single Democrat flatly refusing to raise the debt ceiling this year). That isn't the case with the Republican holdouts, who seem to be willing to let the country default. And lest you think I'm being partisan or unfair to the Republicans, I'm sure that the next time we have a Republican president and a Democratic Congress, the Democrats will be just as irresponsible with the debt ceiling.

    The danger with the debt ceiling is that one of these times, whichever party is in the opposition is going to push things too far. This time around, the deadline was August 2 and an agreement was reached on August 1. That's too close for comfort. What happens if next time, the opposition party is not able to pull back from the brink in time? We would be far better off without a debt ceiling. It's an entirely redundant mechanism that has the ability to create self-inflicted wounds.
    Last edited by Kandahar; 08-04-11 at 11:31 AM.
    Are you coming to bed?
    I can't. This is important.
    What?
    Someone is WRONG on the internet! -XKCD

  6. #26
    Banned
    Join Date
    Jun 2011
    Last Seen
    03-16-12 @ 11:02 PM
    Gender
    Lean
    Libertarian
    Posts
    7,624

    Re: Moody's: Neither Debt Plan Protects the Nations' AAA Rating

    Quote Originally Posted by Kandahar View Post
    You mean the ones who voted against Boehner's plan? Or do you mean the agreement that actually ended up passing? As far as I can tell there is no reason to believe that the Democrats who voted against the final plan wouldn't have been amenable to raising the debt ceiling if the final agreement was different (I'm unaware of a single Democrat flatly refusing to raise the debt ceiling this year). That isn't the case with the Republican holdouts, who seem to be willing to let the country default. And lest you think I'm being partisan or unfair to the Republicans, I'm sure that the next time we have a Republican president and a Democratic Congress, the Democrats will be just as irresponsible with the debt ceiling.
    The House quickly passed a bill to raise the debt ceiling. The Dems in the Senate blocked it. Why does this have to be brought up still?

Page 3 of 3 FirstFirst 123

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •