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United States loses its AAA Credit rating from S & P

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apdst said:
It was a fake decline. The government can't fix the economy. It didn't happen during the great depression and it's not going to work, now.
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You did not even address anything in the quote which you posted. Try again.
 
apdst said:
It was a fake decline. The government can't fix the economy. It didn't happen during the great depression and it's not going to work, now.
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so in your opinion, what ended the Great Depression and when did that happen?
 
evanescence said:
This is the result of our failed two party system. When will people acknowledge the root of our problems?
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I don't believe that. We've almost always had a two party system and it works well. This is a result of one party trying to take down the other one.
 
Eighty Deuce said:
Again, you are having to make some broad assumptions as to what the tax increases would do. If you look just at the percentage of increase in tax rates, and then slice that out of likely GDP, then you do get $4T. However, tax increases do not exist in a fishbowl. They will stimy GDP, so the pie will not be as large as projected. Tax rates change behavior.

With regard to "what-if's", in hindsight one can look at the cost of the Wars (about $1.5 T so far) and the tax cuts (about $3 T), and then make assumptions that our $14.5 T debt would only be $10.0 T right now. Possibly. But like so many things, we do not know what else would have gone differently. Had Al Qeada been able to better sustain itself in the last decade, we do not know if that would have yielded another major attack or two here, or in Europe. If and when we get the news bulletin that a major city has suffered a terrorist nuke, it will rock GDP by trillions.

If Medicare had been set up as a balanced program, what then ? As a percent of budget, entitlements are more than twice what they were 40 years ago, from something like 30% to 66%.
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Obviously there is a high degree of uncertainty in any of these projections or what-if scenarios, but I do believe that the tax cut what-if scenario takes the destimulative effect into account.

And of course the what-ifs can be spun in both directions. My belief is that the housing crisis would have been much less severe without the tax cuts for the simple reason that individuals woud have had less cash in hand to invest the real estate market. Asset bubbles are frequently preceded by large tax cuts.
 
haymarket said:
so in your opinion, what ended the Great Depression and when did that happen?
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Less government intervention in the private sector and it took place after WW2. The Revenue Act of 1948, is what ended the great depression.
 
apdst said:
It was a fake decline. The government can't fix the economy. It didn't happen during the great depression and it's not going to work, now.
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And yet it did. Go figure?
 
Sheik Yerbuti said:
I don't believe that. We've almost always had a two party system and it works well. This is a result of one party trying to take down the other one.
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No, it doesn't "work well." At all. And of course they try to take the other down-there's a lot of money at stake.
 
apdst said:
Less government intervention in the private sector and it took place after WW2. The Revenue Act of 1948, is what ended the great depression.
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I believe you would be the only person in the world to reach that stunning conclusion. :lol:
 
apdst said:
Less government intervention in the private sector and it took place after WW2. The Revenue Act of 1948, is what ended the great depression.
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In November of 1948, the United States entered a recession. :prof

I wonder how far you are willing to go to avoid admitting you are dead wrong.
 
Sheik Yerbuti said:
I don't believe that. We've almost always had a two party system and it works well. This is a result of one party trying to take down the other one.
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This is a result of the Democrats trying to make more poor people and grow their voting base. But, the American people on to their plan and are going to vote their dumbasses out next year.
 
apdst said:
This is a result of the Democrats trying to make more poor people and grow their voting base. But, the American people on to their plan and are going to vote their dumbasses out next year.
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Th Republicans are doing a fine job of growing the lower classes on the economic scale.
 
apdst said:
Less government intervention in the private sector and it took place after WW2. The Revenue Act of 1948, is what ended the great depression.
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WTF?? So now you think the Great Depression didn't end until 1948??

I guess you don't know that unemployment rose by 55% in 1949, following the passage of that act, huh?
 
Goldenboy219 said:
In November of 1948, the United States entered a recession. :prof

I wonder how far you are willing to go to avoid admitting you are dead wrong.
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It lasted for what? 10 months? It was a very minor recession and after that, embarked on a very prosperous period. Imagine what might have happened if not for the tax cuts.
 
Sheik Yerbuti said:
WTF?? So now you think the Great Depression didn't end until 1948??
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Not fully, no.



I guess you don't know that unemployment rose by 55% in 1949, following the passage of that act, huh?
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It had nothing to do with the tax cuts and the recession only lasted for 10 months, then things boomed. Wanna compare those results to the massive government spending caziness? How long did the depression last?
 
Goldenboy219 said:
In November of 1948, the United States entered a recession. :prof

I wonder how far you are willing to go to avoid admitting you are dead wrong.
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I don't think there's a limit to that.
 
apdst said:
It lasted for what? 10 months? It was a very minor recession and after that, embarked on a very prosperous period. Imagine what might have happened if not for the tax cuts.
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And still you continue this facade. You are dead wrong. Nothing you have provided serves as a reference to your position as it is essentially opinionated drivel that is concocted to fit your ideology. Admit your error and go on your way.
 
apdst said:
This is a result of the Democrats trying to make more poor people and grow their voting base. But, the American people on to their plan and are going to vote their dumbasses out next year.
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Spits the post who thinks the Great Depression lasted some 20 years. :roll:
 
Sheik Yerbuti said:
The downgrade came as a result of uncertainty that would could successfully attack our debt problem because the Democrats and Republicans can't work together on the issue. That was the goal of Republican party of "no." They brought the government to a complete standstill with their "my way or the highway" approach. The president, being the leader of the nation, gets the blame. They got what they wanted.
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The downgrade came as a result of the 14 trillion Dlls. deficit and it works the same with a person that owes too much money. Your credit rating goes down. Greece here we come!!!!!!
 
winston53660 said:
Th Republicans are doing a fine job of growing the lower classes on the economic scale.
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They'll be doing even better, when they are in complete control, unless they get scared and do stupid **** to appease poor people.
 
Guys please stop responding to apdst. This thread is getting filled with more BS than a porta-potty.
 
apdst said:
They'll be doing even better, when they are in complete control, unless they get scared and do stupid **** to appease poor people.
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Uh I think you mis read me. Poverty tends to go up under Republican policies as well income disparity.
 
Red Crow said:
The downgrade came as a result of the 14 trillion Dlls. deficit and it works the same with a person that owes too much money. Your credit rating goes down. Greece here we come!!!!!!
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The best source to explain the downgrade is the organization that did the downgrade:

[...]The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

[...]It appears that for now, new revenues have dropped down on the menu of policy options.

[...]The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.

[...]Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.
 
Flyersfan314 said:
Guys please stop responding to apdst. This thread is getting filled with more BS than a porta-potty.
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Which basically means, anything that isn't in lockstep with the Liberal agenda.
 
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