Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
S&P is calling for spending cuts. Gee, people that understand money agree with the GOP and imply that the left is wrong.
Standard & Poor's | Americas
United States of America Long-Term
Rating Lowered To 'AA+' On
Political Risks And Rising Debt
Burden; Outlook Negative
Rationale
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.
...
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. Despite this year's wide-ranging debate, in our
view, the differences between political parties have proven to be
extraordinarily difficult to bridge, and, as we see it, the resulting
agreement fell well short of the comprehensive fiscal consolidation program
that some proponents had envisaged until quite recently. 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...
...
Standard & Poor's takes no position on the mix of spending and revenue
measures that Congress and the Administration might conclude is appropriate
for putting the U.S.'s finances on a sustainable footing.
S&P's downgraded because of Congress' and the Administration's inability to find a compromise on their positions that would create a comprehensive medium and long-term plan to reduce the debt trajectory.
Wow. And who defines what "spending it properly" is?
Why the totalitarians he supports. They are the "good" ones.
you like talking out your ass terrorist dont you?
You got it. Tax cuts, baby!
That ultra-fuckup Obama has now caused the biggest 7 day drop in the stock market since 1929.
He exceeded the 7 day drop of 2008 with his "black Thursday" followed a couple days later with "black Monday."
Ready to admit that he's the worst president in history, yet?
You got it. Tax cuts, baby!
Obama says credit downgrade means 'renewed sense of urgency' - USATODAY.com
You got it. Tax cuts, baby!
That ultra-fuckup Obama has now caused the biggest 7 day drop in the stock market since 1929.
He exceeded the 7 day drop of 2008 with his "black Thursday" followed a couple days later with "black Monday."
Ready to admit that he's the worst president in history, yet?
I think Buchanan's got a lock on worst President in the history of America.
Healthcare?.....cut taxes
Recession?.....cut taxes
Balance the budget?.....cut taxes
Go to war?........cut taxes
Budget surplus?.......cut taxes
Budget shortfall?....cut taxes
It would be funny if it weren't true
Take the branch out of your ass, chimpy.S&P is calling for spending cuts. Gee, people that understand money agree with the GOP and imply that the left is wrong.
Standard & Poor's | Americas
United States of America Long-Term
Rating Lowered To 'AA+' On
Political Risks And Rising Debt
Burden; Outlook Negative
Rationale
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.
...
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. Despite this year's wide-ranging debate, in our
view, the differences between political parties have proven to be
extraordinarily difficult to bridge, and, as we see it, the resulting
agreement fell well short of the comprehensive fiscal consolidation program
that some proponents had envisaged until quite recently. 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...
...
Standard & Poor's takes no position on the mix of spending and revenue
measures that Congress and the Administration might conclude is appropriate
for putting the U.S.'s finances on a sustainable footing.
S&P's downgraded because of Congress' and the Administration's inability to find a compromise on their positions that would create a comprehensive medium and long-term plan to reduce the debt trajectory.
What a long winded post of nothing. Do you really believe they downgraded us because we fight and procrastinate? If so why arent we a -d------ now? Get real. Long posts dont make you look smart. They make you look like a try hard. everyone knows why we were downgraded, only the ignorant wanna grasp far reaching excuses to keep deflecting from their failed policies. period.
Wow.. That pretty much tells your ideology. Allows. Wow.
You're damned right ALLOWS. In Socialistic Countries they'd be taxed 2-3X as much in their personal income and have ZERO loopholes(and they'd still be rich). Heck, In China...they'd be part of the State. Wake up and smell the coffee, man. This country allows them to attain wealth.
And it pisses you off! ....
Take the branch out of your ass, chimpy.Standard & Poor's | Americas
United States of America Long-Term
Rating Lowered To 'AA+' On
Political Risks And Rising Debt
Burden; Outlook Negative
Rationale
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.
...
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. Despite this year's wide-ranging debate, in our
view, the differences between political parties have proven to be
extraordinarily difficult to bridge, and, as we see it, the resulting
agreement fell well short of the comprehensive fiscal consolidation program
that some proponents had envisaged until quite recently. 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...
...
Standard & Poor's takes no position on the mix of spending and revenue
measures that Congress and the Administration might conclude is appropriate
for putting the U.S.'s finances on a sustainable footing.
S&P's downgraded because of Congress' and the Administration's inability to find a compromise on their positions that would create a comprehensive medium and long-term plan to reduce the debt trajectory.
What a long winded post of nothing. Do you really believe they downgraded us because we fight and procrastinate? If so why arent we a -d------ now? Get real. Long posts dont make you look smart. They make you look like a try hard. everyone knows why we were downgraded, only the ignorant wanna grasp far reaching excuses to keep deflecting from their failed policies. period.
That was copy/pasted directly from the S&P's PDF document explaining why they downgraded. Reading through posts in this thread and in others, it's pretty clear a lot of people here DON'T know the rationale behind their decision, and just try to use the downgrade as a blame game to score a cheap point for their side. It's clear S&P is saying this is a bipartisan failure. "Period".
Take the branch out of your ass, chimpy.Standard & Poor's | Americas
United States of America Long-TermS&P's downgraded because of Congress' and the Administration's inability to find a compromise on their positions that would create a comprehensive medium and long-term plan to reduce the debt trajectory.
Rating Lowered To 'AA+' On
Political Risks And Rising Debt
Burden; Outlook Negative
Rationale
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.
...
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. Despite this year's wide-ranging debate, in our
view, the differences between political parties have proven to be
extraordinarily difficult to bridge, and, as we see it, the resulting
agreement fell well short of the comprehensive fiscal consolidation program
that some proponents had envisaged until quite recently. 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...
...
Standard & Poor's takes no position on the mix of spending and revenue
measures that Congress and the Administration might conclude is appropriate
for putting the U.S.'s finances on a sustainable footing.
What a long winded post of nothing. Do you really believe they downgraded us because we fight and procrastinate? If so why arent we a -d------ now? Get real. Long posts dont make you look smart. They make you look like a try hard. everyone knows why we were downgraded, only the ignorant wanna grasp far reaching excuses to keep deflecting from their failed policies. period.
That was copy/pasted directly from the S&P's PDF document explaining why they downgraded. Reading through posts in this thread and in others, it's pretty clear a lot of people here DON'T know the rationale behind their decision, and just try to use the downgrade as a blame game to score a cheap point for their side. It's clear S&P is saying this is a bipartisan failure. "Period".
Healthcare?.....cut taxes
Recession?.....cut taxes
Balance the budget?.....cut taxes
Go to war?........cut taxes
Budget surplus?.......cut taxes
Budget shortfall?....cut taxes
It would be funny if it weren't true
The alternative borrow and spend ... more like borrow give 90% away and spend half of whats left!
Not funny at all
Take the branch out of your ass, chimpy.What a long winded post of nothing. Do you really believe they downgraded us because we fight and procrastinate? If so why arent we a -d------ now? Get real. Long posts dont make you look smart. They make you look like a try hard. everyone knows why we were downgraded, only the ignorant wanna grasp far reaching excuses to keep deflecting from their failed policies. period.
That was copy/pasted directly from the S&P's PDF document explaining why they downgraded. Reading through posts in this thread and in others, it's pretty clear a lot of people here DON'T know the rationale behind their decision, and just try to use the downgrade as a blame game to score a cheap point for their side. It's clear S&P is saying this is a bipartisan failure. "Period".
Well I'm glad you've mastered the art of cut n paste then reading what you want to between the lines. Unfortunately for you I heard it directly from the man in charge at the s & p and I didn't need to cherry pick sentences to prove my point. There were several plans that could have averted this mess despite the bickering.
[ame=http://www.youtube.com/watch?v=SNmdLHM9deQ&feature=youtube_gdata_player]‪August 6, 2011 11:51 AM‬‏ - YouTube[/ame]
It's not a "bipartisan failure" if one side is willing to compromise and the other side is not.
Take the branch out of your ass, chimpy.What a long winded post of nothing. Do you really believe they downgraded us because we fight and procrastinate? If so why arent we a -d------ now? Get real. Long posts dont make you look smart. They make you look like a try hard. everyone knows why we were downgraded, only the ignorant wanna grasp far reaching excuses to keep deflecting from their failed policies. period.
That was copy/pasted directly from the S&P's PDF document explaining why they downgraded. Reading through posts in this thread and in others, it's pretty clear a lot of people here DON'T know the rationale behind their decision, and just try to use the downgrade as a blame game to score a cheap point for their side. It's clear S&P is saying this is a bipartisan failure. "Period".
It's not a "bipartisan failure" if one side is willing to compromise and the other side is not.
no it wouldnt..
Take the branch out of your ass, chimpy.
That was copy/pasted directly from the S&P's PDF document explaining why they downgraded. Reading through posts in this thread and in others, it's pretty clear a lot of people here DON'T know the rationale behind their decision, and just try to use the downgrade as a blame game to score a cheap point for their side. It's clear S&P is saying this is a bipartisan failure. "Period".
Well I'm glad you've mastered the art of cut n paste then reading what you want to between the lines. Unfortunately for you I heard it directly from the man in charge at the s & p and I didn't need to cherry pick sentences to prove my point. There were several plans that could have averted this mess despite the bickering.
[ame=http://www.youtube.com/watch?v=SNmdLHM9deQ&feature=youtube_gdata_player]‪August 6, 2011 11:51 AM‬‏ - YouTube[/ame]
I didn't cherry pick; there are rules here against posting an entire article/document. I linked to the website where the PDF link can be found on the front page, and I provided the paragraphs for context to the bolded lines. The document speaks for itself, and their language is unambiguous. "Reading between the lines" here is just a euphemism for partisan spinning. They were clear and direct; read it for yourself, straight from the horse's mouth.
Oh hell, I can answer that... If it benefits this COUNTRY and its general Population? It's proper. If it benefits Communist countries? It's Treason.
Oh hell, I can answer that... If it benefits this COUNTRY and its general Population? It's proper. If it benefits Communist countries? It's Treason.
What if it benefits making this a into a communist country? You know, like you and Obama are trying to do....
Okay, I know that Obama isn't a Communist....
(He's a Fascist!)
The Republican plan to fix the economy is....
Cut taxes for the rich.
Abolish the EPA.
Kill Social Security and Medicare.
Outlaw abortion.
