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United States loses its AAA Credit rating from S & P

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You read what you wanted to believe, the problem is spending. I am still waiting for you to explain how you keeping more of your money is an expense to the govt?
Maybe you could explain your reasoning with the crowd in S&P.
 
Only that the predator banksters on Wall Street destroyed Greece.
One cannot solve a problem when one cannot see the problem.
From your statement should I assume you agree with my assessment that we are become Greece?
 
To answer your question, it is a problem and not the problem.

now there's a brave statement of principle

LOL!

i wonder how much of the 5.3 trillion THE PARTY IN POWER is proposing to find thru taxes...

maybe someday THEY'LL say

and, of course, what are we gonna do about the other 5.25T

that's an awful lot of problem
 
I am asking you to explain how you keeping more of your money is an expense to the govt?
That's irrelevant. Here is what S&P wrote in their report:


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.

S&P | United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative | Americas
 
One cannot solve a problem when one cannot see the problem.
From your statement should I assume you agree with my assessment that we are become Greece?
I am not sure that true, but the banksters are greedy sobs. They took the economy down in '29 and may very well do it again.
 
That's irrelevant. Here is what S&P wrote in their report:


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.

S&P | United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative | Americas

Raising revenue doesn't mean eliminating the Bush tax cuts as they were never mentioned. As I pointed out 65 plus million income earners aren't paying any Federal Income taxes and 25 million unemployed and under employed Americans are paying very little as well. Raising taxes on the rich doesn't make a dent in the deficits and that is what the GOP was against and rightly so
 
I am not sure that true, but the banksters are greedy sobs. They took the economy down in '29 and may very well do it again.

So are liberals who will do anything to keep their power and keep people dependent. Liberals are the only people that care what someone else makes or pays in taxes. Too bad you cannot see that
 
That's irrelevant. Here is what S&P wrote in their report:

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.
And that is it? That is all the report said?

How about this often missed paragraph?

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements,
or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. We also believe that the fiscal
consolidation plan that Congress and the Administration agreed to this week
falls short of the amount that we believe is necessary to stabilize the
general government debt burden by the middle of the decade.

Pardon me, but your liberal bias is showing. You might want to tuck it back in or zip it up.
 
I am not sure that true, but the banksters are greedy sobs. They took the economy down in '29 and may very well do it again.
If you have any interest in the truth perhaps you should investigate the role that the federal government had in creating the environment that led to people getting loans they could never repay and the magnifying effect that FANNY and FREDDIE had.

But only go there if you can handle a little bit of truth.
 
the mere fact that you are a conservative severely impairs your credibility in this regard

LOL!

statistically speaking, of course

It would be like an adult having to receive permission from her husband just to pay the bills that she was contractually obligated to pay.

yup, with money that doesn't exist
 
That's irrelevant. Here is what S&P wrote in their report:


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.

S&P | United States of America Long-Term Rating Lowered To 'AA+' Due To Political Risks, Rising Debt Burden; Outlook Negative | Americas

Huh... I guess you didn't like this part because it included Democrats in it. :lamo

Republicans and
Democrats
have only been able to agree to relatively modest savings on
discretionary spending while delegating to the Select Committee decisions on
more comprehensive measures. It appears that for now, new revenues have
dropped down on the menu of policy options. In addition, the plan envisions
only minor policy changes on Medicare and little change in other entitlements,
the containment of which we and most other independent observers regard as key
to long-term fiscal sustainability.

What you can't seem to admit is that it's both parties. They BOTH play a part and while I know it's your lifes mission to blame everything on Republicans, any reasonable and intelligent person knows it's BOTH that are at fault here.
 
And that is it? That is all the report said?

How about this often missed paragraph?

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements,
or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. We also believe that the fiscal
consolidation plan that Congress and the Administration agreed to this week
falls short of the amount that we believe is necessary to stabilize the
general government debt burden by the middle of the decade.

Pardon me, but your liberal bias is showing. You might want to tuck it back in or zip it up.
Not at all, you bolding proves this is political document and not a financial one. The so called entitlements are not really entitlements at all, they are paid mostly through payroll taxes. Except for Bush Medicare Part D legislation which was never funded.
 
Nice try. Repubs only control 1/3 of this government. If the liberals had the answer then why not put it in place when they were running roughshot over the the repubs for the first two years of Obama? Because they were busy pushing this that's why.


J-mac

It's the Republicans fault also if for no other reason than they helped create the massive debt. This is not a 2 year problem.
 
Not at all, you bolding proves this is political document and not a financial one. The so called entitlements are not really entitlements at all, they are paid mostly through payroll taxes. Except for Bush Medicare Part D legislation which was never funded.
You may ignore the truth all that you wish. It will still have an impact on you.

I suspect you are reachable. Try for the truth. It is amazing when it finds you. (Just be prepared to become conservative). :)
 
S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com

Read it conservatives:

A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.​



Read more: S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com
 
S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com

Read it conservatives:

A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.​



Read more: S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com

So where is the Obama plan on paper to solve the debt rating problem?
 
S&P: Debt default skeptics fueled ratings downgrade - Josh Boak - POLITICO.com

Read it conservatives:

A Standard & Poor’s director said for the first time Thursday that one reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.​
Uh-huh.

I believe this downgrade is a great thing for the country. It focuses one's attention. We must get back to Constitutionally-limited government.
 
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