GOP gets the US Credit Rating Downgraded

[Trampled Underfoot]

http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor?s to downgrade the rating of US debt from its current AAA value.

Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.

Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive it?s going to happen, and if it does happen officials are not sure when it will happen.

Before ratings agencies issue a downgrade, there is often some back and forth that goes on behind the scenes. Treasury Department officials have been making the case for months that S&P should not downgrade US debt.

 

[Skulnik]

http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor?s to downgrade the rating of US debt from its current AAA value.

Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.

Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive it?s going to happen, and if it does happen officials are not sure when it will happen.

Before ratings agencies issue a downgrade, there is often some back and forth that goes on behind the scenes. Treasury Department officials have been making the case for months that S&P should not downgrade US debt.

Only a Dumbass would believe that BULLSHIT, i'm sure that the SOROS cocksuckers will be singing that song though.

JMHO

:0074

 

[Trampled Underfoot]

Only a Dumbass would believe that BULLSHIT, i'm sure that the SOROS cocksuckers will be singing that song though.

JMHO

:0074

Yeah, we should keep the Bush tax cuts. Maybe we should decrease taxes and start a few more wars? Its fuckheads like you that should be shot. You bitch about the debt but have no plan to solve it. How the fuck are you going to get the debt down with no revenues?

 

[Skulnik]

Yeah, we should keep the Bush tax cuts. Maybe we should decrease taxes and start a few more wars? Its fuckheads like you that should be shot. You bitch about the debt but have no plan to solve it. How the fuck are you going to get the debt down with no revenues?

You don't like the Bush TAX CUT, send the government a check or send it to Detroit, your choice.

:0074

<iframe width="425" height="349" src="http://www.youtube.com/embed/19v5Kjmc8FI" frameborder="0" allowfullscreen></iframe>

 

[Trench]

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor?s to downgrade the rating of US debt from its current AAA value.

Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

Since John Boehner got 98% of what he wanted, I guess he and the Tea Party deserve 98% of the credit for the downgrading of the U.S. credit rating to AA-plus for the first time in our history.

Nice work Tea Partiers! :0074

 

[smurphy]

GOP could get the US Credit Rating Downgraded

Yep. The offer was there by Obama. 4.5 trillion reduction. All the GOP had to be was not miserably sold out to billionaires and they would have recognized the golden opportunity. We COULD have been on the right path. WTF now?

This country is not about the people anymore.

 

[DOGS THAT BARK]

What fcking bunch of liberal baffoons--Gumby takes his unlimited gov credit card on an unprecedented spending spree--

exactly what part of this can our forum trolls not comprehend--

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2002</TD><TD width=164 align=left>157.8 Billion Dollar Deficit</TD><TD width=164 align=left>186.204 Billion Deficit</TD><TD width=28 align=left>R</TD><TD width=28 align=left>D</TD><TD width=28 align=left>R</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2003</TD><TD width=164 align=left>374 Billion Dollar Deficit</TD><TD width=164 align=left>430.1 Billion Deficit</TD><TD width=28 align=left>R</TD><TD width=28 align=left>R</TD><TD width=28 align=left>R</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2004</TD><TD width=164 align=left>413 Billion Dollar Deficit</TD><TD width=164 align=left>462.56 Billion Deficit</TD><TD width=28 align=left>R</TD><TD width=28 align=left>R</TD><TD width=28 align=left>R</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2005</TD><TD width=164 align=left>319 Billion Dollar Deficit</TD><TD width=164 align=left>347.71 Billion Deficit</TD><TD width=28 align=left>R</TD><TD width=28 align=left>R</TD><TD width=28 align=left>R</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2006</TD><TD width=164 align=left>248 Billion Dollar Deficit</TD><TD width=164 align=left>260.4 Billion Deficit</TD><TD width=28 align=left>R</TD><TD width=28 align=left>R</TD><TD width=28 align=left>R</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2007</TD><TD width=164 align=left>162 Billion Dollar Deficit</TD><TD width=164 align=left>165.24 Billion Deficit</TD><TD width=28 align=left>R</TD><TD width=28 align=left>D</TD><TD width=28 align=left>D</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2008</TD><TD width=164 align=left>455 Billion Dollar Deficit</TD><TD width=164 align=left>455 Billion Deficit</TD><TD width=28 align=left>R</TD><TD width=28 align=left>D</TD><TD width=28 align=left>D</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2009</TD><TD width=164 align=left>1416 Billion Dollar Deficit</TD><TD width=164 align=left>1416 Billion Deficit</TD><TD width=28 align=left>D</TD><TD width=28 align=left>D</TD><TD width=28 align=left>D</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2010</TD><TD width=164 align=left>1294 Billion Dollar Deficit</TD><TD width=164 align=left>1294 Billion Deficit</TD><TD width=28 align=left>D</TD><TD width=28 align=left>D</TD><TD width=28 align=left>D</TD></TR></TBODY></TABLE>

<TABLE border=0 cellSpacing=1 cellPadding=0 width="100%" bgColor=#ededed height=16><TBODY><TR><TD height=20 width=47 align=left>2011</TD><TD width=164 align=left>1650 Billion Dollar Deficit</TD><TD width=164 align=left>1650 Billion Deficit</TD><TD width=28 align=left>D</TD><TD width=28 align=left>D</TD></TR></TBODY></TABLE>

--and we haven't even touch the the consequences of the real added debt yet--

the worst is yet to come--
cost of healthcare reform
http://spectator.org/archives/2011/08/04/the-one-termer-weve-been-waiti#

Which bring us to the most galling irony of all -- the Obama administration has now admitted that PPACA won't reduce costs. Last month, the Centers for Medicare & Medicaid Services (CMS) issued a report showing that health care costs will risefaster with Obamacare in place than they would have in its absence: "CMS officials attributed the growth to an expansion of the insured population. Under the plan, an estimated 23 million Americans are expected to obtain insurance in 2014, largely through state-based exchanges and expanded Medicaid eligibility." In other words, the President's "signature achievement" actually exacerbates the main problem it was ostensibly designed to solve. Obamacare will "bend the cost curve" upward while expanding the unemployment rolls.
++++++++++++++++++++++++++++

Tramp-- How about getting your "pack" together with some more "change you can believe in " or "yes we did"

You guys are only ones to have anything to cheer about so far--

<HR> FOOD STAMPS: Record 45.8 million dependent...

One in seven Americans

 

[StevieD]

Hey Dogs when your President Bush loses 700,000 jobs a month I think you can expect food stamps to go up.

 

[DOGS THAT BARK]

You pass trillion dollar stimulus with bout 3rd of it entitlements--
-behind closed doors-
-on srtickly partisan vote-
- and have to openly bribe your own congressmen to pass it--

--and now blame rebs for it-

-can you remotely comprehend how insame you sound? :facepalm:

That is Liberal Logic to nth degree!

carry on--

 

[ssd]

Here is text taken from the SnP downgrade letter:

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."

No new revenues and only minor changes to Medicare AND little change in other entitlements.

It is both the D and the R who are to blame.

This debt deal solved nothing.

I will reiterate: the Federal govt does not have a revenue problem. It has a spending problem and no one has the balls in Washington to admit to it.
The Tea Party tried and they have been scorned for it.

We have an archaic tax code that needs to be revised. End the loopholes and chicanery. Look to initiate a Flat tax.
Reduce all federal spending by 1% a year, every year for 10 years. None of this smoke and mirrors accounting bullshit.
Reduce defense spending.
Reduce entitlement spending - if you do not want to cut benefits, then the age limit must be raised.

US has been living on borrowed funds for far too long. It is time to tighten the belt and roll up the sleeves.

 

[buddy]

"A Preview Of Coming Attractions!"

Coming soon to your neighborhood....

Live! And in color!

Rioting

 

[azbob]

I'll give you that when The Obama was elected, there were several major issues to be dealt with (of course that comes with the Presidency but, that's not the point)

The Obama had two years of a democratic house/senate...spent billions of dollars and here we are on the verge of bankruptcy, a lowered credit rating, 9.1% unemployment and a growth rate near zero. (btw...who wants to bet those two rates are adjusted negatively in the next measure).

This morning, The Obama gives his address and does not even talk about the downgrade. He speculates he spent us "out of a depression" but, the reality is he spent us into another recession and who knows what next.

Let's declare this a failed presidency, try to get by for a year and a half and then hope for competence in the next leader.

The only debate left is worse presidency....Carter or The Obama.

Let's put all of our faith and hope in the super committee...what a joke...Geithner MUST GO...this is the most pathetic political situation I have ever seen.

 

[Trench]

What fcking bunch of liberal baffoons--

exactly what part of this can our forum trolls not comprehend--

Mitch McConnell shows what percentage of the American people he represents...

 

[Duff Miver]

I'll give you that when The Obama was elected, there were several major issues to be dealt with (of course that comes with the Presidency but, that's not the point)

The Obama had two years of a democratic house/senate...spent billions of dollars and here we are on the verge of bankruptcy, a lowered credit rating, 9.1% unemployment and a growth rate near zero. (btw...who wants to bet those two rates are adjusted negatively in the next measure).

This morning, The Obama gives his address and does not even talk about the downgrade. He speculates he spent us "out of a depression" but, the reality is he spent us into another recession and who knows what next.

Let's declare this a failed presidency, try to get by for a year and a half and then hope for competence in the next leader.

The only debate left is worse presidency....Carter or The Obama.

Let's put all of our faith and hope in the super committee...what a joke...Geithner MUST GO...this is the most pathetic political situation I have ever seen.

Expalin something to me azzbob. How does spending, at the same time taxes are lower, cause a recession? I just can't figure how that works.

 

[Trampled Underfoot]

What fcking bunch of liberal baffoons

Sounds like a redneck asshole corporate cocksucker hillbilly is over his head again. :facepalm:

 

[Cie]

I listened to the head of &P last night on Anderson Cooper and read the statement from S&P. No doubt both sides are at fault. Congress is pathetic. O is a pussy. Any of you that are laying blame exclusively on the other side are just perpetuating the problem that got us here.. Wake up, please

 

[Trench]

The only debate left is worse presidency....Carter or The Obama.

Let's put all of our faith and hope in the super committee...what a joke...Geithner MUST GO...this is the most pathetic political situation I have ever seen.

Bob,

Long time listener, first time caller...

I'm curious about something though... are you suffering from selective amnesia or have you been in a coma for most of the past decade?

Thanks, I'll take my answer off the air. :0008

 

[Cie]

Bob,

Long time listener, first time caller...

I'm curious about something though... are you suffering from selective amnesia or have you been in a coma for most of the past decade?

Thanks, I'll take my answer off the air. :0008

Hard to believe a bright guy like yourself feels Obama has done well for us to this point.

 

[Trench]

O is a pussy.

I agree, Cie.

 

[Trampled Underfoot]

Hard to believe a bright guy like yourself feels Obama has done well for us to this point.

He has just continued the neo-con agenda. Which is why I am amazed that some right wingers hate his guts. I wonder why? :facepalm: