Americans should sell off their S&P stocks and send a message to them of what we think about this downgrade.So they basically gave our government too much credit, and thought they were capable of solving the debt ceiling crisis in a timely, professional manner. This is embarrassing. I hope the government gets their act together as a result of this.
Nothing says our government is broken like this...
I don't even know what to say...
It's just going to be an interesting Monday to see the pundits try to spin it, and they probably will try.
the debt-crisis was totally created by the GOP and the Tea-Baggers.
without their games, the crisis would not have happened and we would still be AAA.
So this that why you didnt say anything useful?
S&P doesn't care if the debt problem is solved with higher taxes. they just want it dealt with.
and don't think for a moment that the American people is gonna forget the games the GOP has played this week.
this is gonna bite the GOP in the ass and Obama will be re-elected.
Obama wanted a $4 trillion plan that cut spending and raised revenue and the GOP said "NO". The American people will remember.
S&P doesn't care if the debt problem is solved with higher taxes. they just want it dealt with.
and don't think for a moment that the American people is gonna forget the games the GOP has played this week.
this is gonna bite the GOP in the ass and Obama will be re-elected.
Obama wanted a $4 trillion plan that cut spending and raised revenue and the GOP said "NO". The American people will remember.
A gnat has a longer term memory than the American public.
Cool. Let's burn it to the ground then.As long as the right wing extremists and the Tea Party continue to hijack the political process, this country will be a joke. Great ideas you stupid Republicans.
Exactly. Horses will be the new transportation!Let's not spend any money to fix anything. Let's destroy the government that we're now working for. Let's fire teachers, police and fire for the sake of giving the wealthy a few extra bucks. Let's cut the individual income taxes of the wealthy (went down from 32 % in 1990 to 16 % in 2011). :roll:
:lamoLet us watch the roads crumble because we laid off everyone in Public Works. So glad we're spending no money to fix things or stimulate the economy in this country, but the stupid Republicans had no problems spending billions to fight a war in Iraq against a country that had nothing to do with 9/11. The Republicans have disgraced this country and they should all be impeached and go to prison.
There aren't many online sources to read yet...
Don't be so foolish. This cannot be blamed on the Tea Party. Yeah! Let's squeeze a few trillion dollars from the top 1%.... The problem is spending, spending what we don't have. Raising taxes may help (or hurt) but the main problem is spending largely done by Bush and Obama.
the debt-crisis was totally created by the GOP and the Tea-Baggers.
without their games, the crisis would not have happened and we would still be AAA.
You forgot to mention all Republicans are the devil spawn from Satan's loins, suck the blood of innocent babies, murder little old ladies and worship everything evil and are responsible for all bad things since time began.
As long as the right wing extremists and the Tea Party continue to hijack the political process, this country will be a joke. Great ideas you stupid Republicans.
Let's not spend any money to fix anything. Let's destroy the government that we're now working for. Let's fire teachers, police and fire for the sake of giving the wealthy a few extra bucks. Let's cut the individual income taxes of the wealthy (went down from 32 % in 1990 to 16 % in 2011). :roll:
Let us watch the roads crumble because we laid off everyone in Public Works. So glad we're spending no money to fix things or stimulate the economy in this country, but the stupid Republicans had no problems spending billions to fight a war in Iraq against a country that had nothing to do with 9/11. The Republicans have disgraced this country and they should all be impeached and go to prison.
And lowering taxes on the highest bracket by 5% doesn't give us the revenue we need to pay off trillions in deficit? The main problem is increased and monstrous spending.
No, it's spending AND earning!
You cannot just cut the spendings and hope that the economy will grow, you have to do both.
Can you expound upon this more?
Don't be so foolish. This cannot be blamed on the Tea Party. Yeah! Let's squeeze a few trillion dollars from the top 1%.... The problem is spending, spending what we don't have. Raising taxes may help (or hurt) but the main problem is spending largely done by Bush and Obama.
Not according to the S&P. You can keep on blaming everyone except the Tea-Publicans. But it is 100% their fault.
Not according to the S&P. You can keep on blaming everyone except the Tea-Publicans. But it is 100% their fault. I will post this again:
Let me explain why this wouldnt have happened IF the congress raised taxes on the wealthy.....
What did Boehner say he got? 98% of what REPUBLICANS wanted.
Now why did the S&P lower the credit rating?
Because the REPUBLICANS GOT WHAT THEY WANTED!
And the Dems DIDNT!
Now..... go back and read WHY the S&P lowered the credit rating:
view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.
Not according to the S&P. You can keep on blaming everyone except the Tea-Publicans. But it is 100% their fault. I will post this again:
Let me explain why this wouldnt have happened IF the congress raised taxes on the wealthy.....
What did Boehner say he got? 98% of what REPUBLICANS wanted.
Now why did the S&P lower the credit rating?
Because the REPUBLICANS GOT WHAT THEY WANTED!
And the Dems DIDNT!
Now..... go back and read WHY the S&P lowered the credit rating:
view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.
The United States had just lost its AAA credit rating from S&P, and they have announced that another downgrade may be coming within the next 12/18 months.
The debt ceiling scenario was the chief source of market angst in the last few months, and the GOP was wrong to use it as leverage to achieve some of the things they were demanding. Now the whole country will feel the negative effects. Will others follow S&P?
United States loses AAA credit rating from S & P
NEW YORK | Fri Aug 5, 2011 8:19pm EDT
Aug 5 (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.
U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.
The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months. (Reporting by Walter Brandimarte; Editing by Jan Paschal)
United States loses AAA credit rating from S&P | Reuters
Just save the partisan bull**** will you? Harry Reid hasn't passed a budget in years. We lost our AAA because the spending cuts weren't large enough.