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United States loses its AAA Credit rating from S & P

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donc said:
Like I said prior to the new formatting, it was pure idiocy cutting taxes while we are at war. Drove us into the downgrade from AAA to AA+. Now lets hear your latest spin on that…yet again.:2wave:
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If that is what you believe that is your right even though you are wrong. We were downgraded because we spent too much and the current debt is almost 100% of GDP. What is your credit score if you max out your Credit cards for that is what Obama and our bureaucrats have done. Revenue grew after the tax cuts thus didn't cause the downgrade
 
Conservative said:
LOL, says the guy that is expanding the nanny state. Maybe you can get his healthcare panel to help you out.
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So let your private for profit health insurer make the call......
 
winston53660 said:
So let your private for profit health insurer make the call......
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Never been turned down for any treatment including cancer treatments TWICE, two years apart so again you don't have a clue as to what you are talking about
 
Conservative said:
If that is what you believe that is your right even though you are wrong. We were downgraded because we spent too much and the current debt is almost 100% of GDP. What is your credit score if you max out your Credit cards for that is what Obama and our bureaucrats have done. Revenue grew after the tax cuts thus didn't cause the downgrade
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Your right on this part of your post " because we spent too much ".Now if you would only look at the reason that we spent too much maybe we could get somewhere.


You could start by looking at a couple of tax-cuts and a couple of wars.I believe that Adams explanation of this part(Revenue grew after the tax cuts thus didn't cause the downgrade) of your post is sufficient.Go look it up again if you need a refresher.:2wave:
 
donc said:
Your right on this part of your post " because we spent too much ".Now if you would only look at the reason that we spent too much maybe we could get somewhere.


You could start by looking at a couple of tax-cuts and a couple of wars.I believe that Adams explanation of this part(Revenue grew after the tax cuts thus didn't cause the downgrade) of your post is sufficient.Go look it up again if you need a refresher.:2wave:
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Spending is the problem, not tax cuts. People keeping more of what they earn always benefits the family and thus means less need for that govt. "help" liberals want to provide. The wars cost us 140 billion a year over the past 10 years so you are overstating the cost for what reason, I don't know. Only if you justify spending 3.7 trillion dollars a year in govt. spending do we have a revenue problem. By the way, thought Obama ended the wars and closed GITMO thus there hasn't been any expense the last 2 1/2 years. I believe S&P knows that the wars aren't as costly as they were during the Bush years. Adding 4 trillion in the last 2 1/2 years didn't help the credit rating.
 
The Definition of Karma:

The Tea Party throws teachers, firefighters, and police under the bus. Their children get a poor education. They are left to die during a flood, wildfire, or other natural disaster caused by the climate change they don't believe in, and the value of their property plummets as crime rates go up...
 
hazlnut said:
The Definition of Karma:

The Tea Party throws teachers, firefighters, and police under the bus. Their children get a poor education. They are left to die during a flood, wildfire, or other natural disaster caused by the climate change they don't believe in, and the value of their property plummets as crime rates go up...
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Project much? I have seen Teachers, Firefighters, and police at Tea Party rallies. The Taxed Enough Already group is grass roots and represents real people unlike either major political party today. Yours is a biased media generated hatred of a grass roots organization whose roots made this country great.
 
Conservative said:
Project much? I have seen Teachers, Firefighters, and police at Tea Party rallies.Before the 2010 Midterms. The Taxed Enough Already group is an astro-turf corporate funded ginning up the far-right base and represents the GOPs attempt at rebranding itself after the worst Presidency in modern history W.. According to my masters at Fox NewsYours is a biased media generated hatred of a grass roots organization whose roots made this country great.
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Edited for accuracy.
 
hazlnut said:
Edited for accuracy.
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Your definition of accuracy is out of touch with reality. In order to edit for accuracy you would have to be accurate and you have refuted nothing that I posted. I guess you must have missed the latest polling results so let me help you. The worst President in Modern History, Jimmy Carter is happy to have Barack Obama in the WH. He will be replaced by Obama. Nice guy, Obama, but incompetent as the results show.

Obama's Approval Rating Drops to Lowest Ever, According to Gallup

Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!
 
Conservative said:
Your definition of accuracy is out of touch with reality. In order to edit for accuracy you would have to be accurate and you have refuted nothing that I posted. I guess you must have missed the latest polling results so let me help you. The worst President in Modern History, Jimmy Carter is happy to have Barack Obama in the WH. He will be replaced by Obama. Nice guy, Obama, but incompetent as the results show.

Obama's Approval Rating Drops to Lowest Ever, According to Gallup

Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!
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How to create a GOP talking point 101

1) Take any negative sounding stat completely out of context and attribute it to Obama.

2) Create false and far-fetched cause/effect relationships.

3) Have Short term memory issues when discussing major causes of current debt. (unfunded wars, prescription bill, bailouts, TAX BREAKS FOR THE WEALTHY)

4) View all economics policy outcomes on a daily and weekly basis--not the usual 5-10 years.
 
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Conservative said:
Your definition of accuracy is out of touch with reality. In order to edit for accuracy you would have to be accurate and you have refuted nothing that I posted. I guess you must have missed the latest polling results so let me help you. The worst President in Modern History, Jimmy Carter is happy to have Barack Obama in the WH. He will be replaced by Obama. Nice guy, Obama, but incompetent as the results show.

Obama's Approval Rating Drops to Lowest Ever, According to Gallup

Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!
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Bush above Carter -- that's a laugh! According to the most recent ranking of presidents by historians, Carter ranks 18th and Bush ranks 31st. In fact, Carter is ranked higher than Bush in EVERY academic poll since 2008.

And what Obama inherited: economy shedding 700,000+ jobs per month, GDP shrinking at 6+% per year, financial institutions teetering on the edge of collapse, trillion+ deficit.... Nice improvement.
 
Conservative said:
Spending is the problem, not tax cuts. People keeping more of what they earn always benefits the family and thus means less need for that govt. "help" liberals want to provide. The wars cost us 140 billion a year over the past 10 years so you are overstating the cost for what reason, I don't know. Only if you justify spending 3.7 trillion dollars a year in govt. spending do we have a revenue problem. By the way, thought Obama ended the wars and closed GITMO thus there hasn't been any expense the last 2 1/2 years. I believe S&P knows that the wars aren't as costly as they were during the Bush years. Adding 4 trillion in the last 2 1/2 years didn't help the credit rating.
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Hmm…you say that I am overstating the cost of our wars? Hell, I’m not even including the cost of our half war, Libya (two mill a day).

That counter that I posted gets their numbers from the funding that has been requested by the President and appropriated by Congress.

Your 140 billion seems to conflict with the $169.4 billion that was allocated on April 2011.Its kinda odd that you say 140 billion and congress would allocate $169.4 billion?:roll:

Just think, if we had the $2.5 billion cushion of the bush tax-cuts (an aside)has a nice ring to it doesn’t it? kinda like the Hoover depression eh?:thumbs:

Now where were we? Oh yes…the bush tax cuts would have been a nice cushion for the tail end of the great bush d..eh,er, recession. it surely would have saved our AAA rating.

I wonder what that will end up costing us in the long run, more than likely the cost will be much more than a tax hike, or eliminating the oil companies welfare benefits. So sad.
 
donc said:
Like I said prior to the new formatting, it was pure idiocy cutting taxes while we are at war. Drove us into the downgrade from AAA to AA+. Now lets hear your latest spin on that…yet again.:2wave:
Click to expand...

I had never heard tell of the tax cut and spend theory before Bush actually did it. No thinking person can think it was a good idea.
 
Conservative said:
Your definition of accuracy is out of touch with reality. In order to edit for accuracy you would have to be accurate and you have refuted nothing that I posted. I guess you must have missed the latest polling results so let me help you. The worst President in Modern History, Jimmy Carter is happy to have Barack Obama in the WH. He will be replaced by Obama. Nice guy, Obama, but incompetent as the results show.

Obama's Approval Rating Drops to Lowest Ever, According to Gallup

Obama economic results in 2011, .4% GDP and 1.3% GDP growth in 2011, 24+ million unemployed or under employed Americans in 2011, 4 trillion added to the debt in less than 3 years, and a downgrade of the U.S. credit rating. Rising Misery index 7.83 to 12.67. First President in U.S. History to have our credit downgraded on his watch!
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Where was Bush in 2005 and 2006?
The global housing boom: In come the waves | The Economist

Coming recession will be nastier than 2001's, economist says - MarketWatch

WASHINGTON (MarketWatch) -- The United States is headed for a recession that will be "much nastier, deeper and more protracted" than the 2001 recession, says Nouriel Roubini, president of Roubini Global Economics.

Writing on his blog Wednesday, Roubini repeated his call that the U.S. would be in recession in 2007, arguing that the collapse of housing would bring down the rest of the economy. Read more.

Roubini wrote after the National Association of Realtors reported Wednesday that sales of existing homes fell 4.1% in July, while inventories soared to a 13-year high and prices flattened out on a year-over-year basis. See full story.
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donc said:
Hmm…you say that I am overstating the cost of our wars? Hell, I’m not even including the cost of our half war, Libya (two mill a day).

That counter that I posted gets their numbers from the funding that has been requested by the President and appropriated by Congress.

Your 140 billion seems to conflict with the $169.4 billion that was allocated on April 2011.Its kinda odd that you say 140 billion and congress would allocate $169.4 billion?:roll:

Just think, if we had the $2.5 billion cushion of the bush tax-cuts (an aside)has a nice ring to it doesn’t it? kinda like the Hoover depression eh?:thumbs:

Now where were we? Oh yes…the bush tax cuts would have been a nice cushion for the tail end of the great bush d..eh,er, recession. it surely would have saved our AAA rating.

I wonder what that will end up costing us in the long run, more than likely the cost will be much more than a tax hike, or eliminating the oil companies welfare benefits. So sad.
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Interesting logic that has yet to address why we need a 3.7 trillion dollar Federal Govt? The wars cost 140 billion a year and are winding down but that doesn't matter, Obama continues to spend 3.7 trillion dollars a year. Unless you work for the govt. your income isn't an expense to the taxpayer. Guess that doesn't register yet with you.
 
Boo Radley said:
I had never heard tell of the tax cut and spend theory before Bush actually did it. No thinking person can think it was a good idea.
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Anything to divert from the Obama record. Wonder why Obama has a 39% approval rating? It is all Bush's fault
 
Boo Radley said:
Can you show any evidence that when republicans were in charge that they controlled spending? I think both spent. Do you disagree?
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Yes both did spend, and repubs paid by losing control of congress. Are you really trying to make the childish argument that demo spending at a rate at least 3 times that of repubs is ok because repubs did it too?


j-mac
 
Boo Radley said:
I had never heard tell of the tax cut and spend theory before Bush actually did it. No thinking person can think it was a good idea.
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It has been around a long time, you just haven't been listening....Or you are being disingenuous.

j-mac
 
hazlnut said:
How to create a GOP talking point 101

1) Take any negative sounding stat completely out of context and attribute it to Obama.

2) Create false and far-fetched cause/effect relationships.

3) Have Short term memory issues when discussing major causes of current debt. (unfunded wars, prescription bill, bailouts, TAX BREAKS FOR THE WEALTHY)

4) View all economics policy outcomes on a daily and weekly basis--not the usual 5-10 years.
Click to expand...

If what I took was out of context then it wouldn't be difficult to refute it with actual facts. You haven't done that. Love it, liberals have a problem with others that keep more of what they earn. Tax breaks for the wealthy didn't create the 14.5 trillion dollar debt and raising them on the rich isn't going to pay it off. Class warfare is all liberals have and have been practicing it for decades. I have yet to see a valid argument supporting class warfare as a viable economic model. Barack Obama is spending 3.7 trillion dollars a year and blaming it on someone else. 4 trillion has been added to the debt in the last 3 years and he is blaming that on everyone else but himself. His economic policy is a failure and his approval rating is at a record low of 39%. Guess I found someone else in that 39%. Wonder what it is about the liberal ideology that creates such loyalty and is so subjected to brainwashing?
 
Conservative said:
If what I took was out of context then it wouldn't be difficult to refute it with actual facts. You haven't done that. Love it, liberals have a problem with others that keep more of what they earn. Tax breaks for the wealthy didn't create the 14.5 trillion dollar debt and raising them on the rich isn't going to pay it off. Class warfare is all liberals have and have been practicing it for decades. I have yet to see a valid argument supporting class warfare as a viable economic model. Barack Obama is spending 3.7 trillion dollars a year and blaming it on someone else. 4 trillion has been added to the debt in the last 3 years and he is blaming that on everyone else but himself. His economic policy is a failure and his approval rating is at a record low of 39%. Guess I found someone else in that 39%. Wonder what it is about the liberal ideology that creates such loyalty and is so subjected to brainwashing?
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I guess that is what we get as a nation when we allow one ideology to indoctrinate our children from the age of 7 on up with revisionist history.


j-mac
 
j-mac said:
I guess that is what we get as a nation when we allow one ideology to indoctrinate our children from the age of 7 on up with revisionist history.


j-mac
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What revisionist history effected our going from AAA to AA+?
 
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