United States loses its AAA Credit rating from S & P

hazlnut · Aug 15, 2011

Conservative said:
Ronald Reagan took over a SS in total disaster and shored it up. It wasn't in the shape then as it is now and you should know that. That was decades ago and when Reagan left office the debt was 2.6 trillion, it is 14.5 trillion now and trillions are in IOU's in addition to that debt. You remain very naive on economic issues.

People didn't live as long.

Science is keeping people alive longer. Blood pressure pills. Cholesterol pills. Advanced end of life care. ETC.

Conservative · Aug 15, 2011

hazlnut said:
People didn't live as long.

Science is keeping people alive longer. Blood pressure pills. Cholesterol pills. Advanced end of life care. ETC.

They were living a lot longer then than they were living when FDR created the problem. Life expectancy then was 62 so the intent was never to pay out SS.

AdamT · Aug 15, 2011

pbrauer said:
I present to you, your hero, President Ronald Reagan. Listen to him Conservative!

Wait, did he say that the essence of bipartisanship is to give up a little to get a lot? Was he singing the praises of compromise?!

Conservative · Aug 15, 2011

AdamT said:
Wait, did he say that the essence of bipartisanship is to give up a little to get a lot? Was he singing the praises of compromise?!

Reagan did compromise with Democrats, agreed to tax increases for spending cuts. Guess what, we got the tax increases but spending increases by Congress. Since you claim you were around then I would have thought you knew that

pbrauer · Aug 15, 2011

Conservative said:
Ronald Reagan took over a SS in total disaster and shored it up. It wasn't in the shape then as it is now and you should know that. That was decades ago and when Reagan left office the debt was 2.6 trillion, it is 14.5 trillion now and trillions are in IOU's in addition to that debt. You remain very naive on economic issues.

Social Security is working like they planned it to work back in 1983. The concern back then was the retiring baby boomers so the strategy was to build up a huge trust fund to handle it. Seriously, you don't know this???? :roll:

Conservative · Aug 15, 2011

pbrauer said:
Social Security is working like they planned it to work back in 1983. The concern back then was the retiring baby boomers so the strategy was to build up a huge trust fund to handle it. Seriously, you don't know this???? :roll:

What part of the country being broke don't you understand? SS has been used on budget and IOU's are there to pay you. The Govt has to borrow money to pay for those IOU's and pay you and others their SS. I don't understand liberals like you who just don't seem to get it. SS was never intended to be on Budget, first it was never intended to be paid out but then LBJ put it on budget to fund the Vietnam war. Your SS contributions are gone. Those bonds are worthless until money is borrowed to pay them. This is unbelievable!

pbrauer · Aug 15, 2011

hazlnut said:
People didn't live as long.

Science is keeping people alive longer. Blood pressure pills. Cholesterol pills. Advanced end of life care. ETC.

Some people are living longer, but sadly those people who need SS the most are not living that much longer, because they don't have access to healthcare.

Conservative · Aug 15, 2011

pbrauer said:
Some people are living longer, but sadly those people who need SS the most are not living that much longer, because they don't have access to healthcare.

no American is prevented from getting healthcare but that doesn't stop you from demanding that the Federal Taxpayers fund your local healthcare. Romney got it right, healthcare is a state issue, not a Federal one. States rights are something you don't seem to understand and I know you don't support.

pbrauer · Aug 15, 2011

Conservative said:
What part of the country being broke don't you understand? SS has been used on budget and IOU's are there to pay you. The Govt has to borrow money to pay for those IOU's and pay you and others their SS. I don't understand liberals like you who just don't seem to get it. SS was never intended to be on Budget, first it was never intended to be paid out but then LBJ put it on budget to fund the Vietnam war. Your SS contributions are gone. Those bonds are worthless until money is borrowed to pay them. This is unbelievable!

Your rhetoric is a steaming pile of unadulterated BS. LBJ was President after Reagan? :rofl

Conservative · Aug 15, 2011

pbrauer said:
Your rhetoric is a steaming pile of unadulterated BS. LBJ was President after Reagan? :rofl

What the hell are you talking about? LBJ put SS on budget, NOT Reagan. Reagan took over a SS fund that was almost bankrupt and raised SS taxes to make it more solvent. FDR created SS and it was never intended to be on budget but LBJ did it to use the surplus to pay for the Vietnam war. How did that work out for you?

pbrauer · Aug 15, 2011

Conservative said:
What the hell are you talking about? LBJ put SS on budget, NOT Reagan. Reagan took over a SS fund that was almost bankrupt and raised SS taxes to make it more solvent. FDR created SS and it was never intended to be on budget but LBJ did it to use the surplus to pay for the Vietnam war. How did that work out for you?

What did your hero say in the video? Did you watch it???

Conservative · Aug 15, 2011

pbrauer said:
What did your hero say in the video? Did you watch it???

No, don't care about the video as it is irrelevant now. My hero doubled GDP, almost doubled govt. revenue, created 17 million jobs and is ranked as one of the top 10 Presidents in history. I gave you the facts about SS and you ignored them as usual. Your agenda is to distort and divert from the Obama record and the thread topic. Just a reminder, Obama inherited a AAA credit rating from Bush.

AdamT · Aug 15, 2011

Conservative said:
No, don't care about the video as it is irrelevant now. My hero doubled GDP, almost doubled govt. revenue, created 17 million jobs and is ranked as one of the top 10 Presidents in history. I gave you the facts about SS and you ignored them as usual. Your agenda is to distort and divert from the Obama record and the thread topic. Just a reminder, Obama inherited a AAA credit rating from Bush.

Your hero tripled the national debt and raised taxes 11 times.

winston53660 · Aug 15, 2011

AdamT said:
Your hero tripled the national debt and raised taxes 11 times.

And he increased deficit spending from 2.7% to and average of 4.2%

Conservative · Aug 15, 2011

AdamT said:
Your hero tripled the national debt and raised taxes 11 times.

Don't vote for Reagan in 2012. Why would you vote for Obama? Is 1.7 trillion Reagan debt more or less than the 4 trillion Obama debt? Wasn't Reagan's for 8 years and Obama for less than 3? Ask your parents if their income taxes went up under Reagan?

pbrauer · Aug 15, 2011

Conservative said:
No, don't care about the video as it is irrelevant now. My hero doubled GDP, almost doubled govt. revenue, created 17 million jobs and is ranked as one of the top 10 Presidents in history. I gave you the facts about SS and you ignored them as usual. Your agenda is to distort and divert from the Obama record and the thread topic. Just a reminder, Obama inherited a AAA credit rating from Bush.

So, what? S&P was instrumental in creating the financial meltdown (during Bush's term) by rating toxic mortgaged backed securities as AAA.

Conservative · Aug 15, 2011

winston53660 said:
And he increased deficit spending from 2.7% to and average of 4.2%

Debt under Reagan in 8 ears was less than 50% of GDP, today the debt of 14.5 trillion is close to 100% of GDP. You don't seem to understand the difference

Conservative · Aug 15, 2011

pbrauer said:
So, what? S&P was instrumental in creating the financial meltdown (during Bush's term) by rating toxic mortgaged backed securities as AAA.

So what? Obama is the first President in history to have our credit downgraded on his watch due mostly to the 3.7 trillion dollar a year spending that has added 4 trillion to the debt.

winston53660 · Aug 15, 2011

Conservative said:
Debt under Reagan in 8 ears was less than 50% of GDP, today the debt of 14.5 trillion is close to 100% of GDP. You don't seem to understand the difference

His debt increase equates to a 11.3 % point increase.

And guess what....that debt is still being paid on today.

Conservative · Aug 15, 2011

winston53660 said:
His debt increase equates to a 11.3 % point increase.

And guess what....that debt is still being paid on today.

I will pay the debt on the 1.7 trillion Reagan had during his term which had a total debt of 2.6 trillion vs. the 14.5 trillion we have today and the 4 trillion Obama has added to it. No wonder Obama has a 39% approval rating and saw a credit down grade 2 1/2 years after he took office. His record is a disaster, nice guy but incompetent.

winston53660 · Aug 15, 2011

Conservative said:
I will pay the debt on the 1.7 trillion Reagan had during his term which had a total debt of 2.6 trillion vs. the 14.5 trillion we have today and the 4 trillion Obama has added to it. No wonder Obama has a 39% approval rating and saw a credit down grade 2 1/2 years after he took office. His record is a disaster, nice guy but incompetent.

It sure would be nice if we didn't have to pay on that debt today. The debt that started kickin the can down the road......

AdamT · Aug 15, 2011

Conservative said:
I will pay the debt on the 1.7 trillion Reagan had during his term which had a total debt of 2.6 trillion vs. the 14.5 trillion we have today and the 4 trillion Obama has added to it. No wonder Obama has a 39% approval rating and saw a credit down grade 2 1/2 years after he took office. His record is a disaster, nice guy but incompetent.

Any idea what that $1.7 trillion is compounded over 24 years? It's about $7 trillion assuming an average 6% interest which is the approximate 10 year note yield over that time span. So that's what? Half the national debt?

Conservative · Aug 15, 2011

winston53660 said:
It sure would be nice if we didn't have to pay on that debt today. The debt that started kickin the can down the road......

yes, it would be nice so tell me how did Reagan creating a 1.7 trillion dollar debt cause obama to create a 4.0 trillion dollar debt?

Conservative · Aug 15, 2011

AdamT said:
Any idea what that $1.7 trillion is compounded over 24 years? It's about $7 trillion assuming an average 6% interest which is the approximate 10 year note yield over that time span. So that's what? Half the national debt?

Not as much as the 4 trillion Obama has generated in 3 years.

AdamT · Aug 15, 2011

Conservative said:
yes, it would be nice so tell me how did Reagan creating a 1.7 trillion dollar debt cause obama to create a 4.0 trillion dollar debt?

Obama didn't create $4 trillion in debt.