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Turbo Tim Geithner couldn't even file his own Taxes properly using Turbo Tax. I said he was an incompetent dolt right from the very beginning. But so many morons prayed to him like he was as an Economic God. Him and Bernanke should not only be removed but should also probably be wearing handcuffs and orange jumpsuits. Downgraded for the first time in our History. HISTORY! WTG Turbo Tim and Democrats! Idiots.
What will be the reaction Monday on the market?
The KKK moved into the GOP during the 1960s and 1970s as you well know. Men like Harry Byrd repented their back ground and did good to do better. Men like Strom Thurmond moved into the GOP and fathered illegitimate black children.
NeoFascist, you are a racist and a far righty extremist fascist pretending to be a conservative Republican.
What will be the reaction Monday on the market?
I think everyone pretty much figured this was going to happen. Does the downgrade mean the US is really not as credit-worthy? Not for now. But it is a very very bad sign. The Obama Administration's response of course was to attack S&P
White House adviser slams S&P after U.S. downgrade - Yahoo! News
This has been the theme of Obama's presidency: Attack anyone who disagrees and question their motives. That in itself is part of the reason for the downgrade: the inability of Obama and the Democrats to work towards something.
The economy is not going to recover until after the 2012 election. This one is the GOP's to lose.
At least someone gets it.What will be the reaction Monday on the market?
I think everyone pretty much figured this was going to happen. Does the downgrade mean the US is really not as credit-worthy? Not for now. But it is a very very bad sign. The Obama Administration's response of course was to attack S&P
White House adviser slams S&P after U.S. downgrade - Yahoo! News
This has been the theme of Obama's presidency: Attack anyone who disagrees and question their motives. That in itself is part of the reason for the downgrade: the inability of Obama and the Democrats to work towards something.
The economy is not going to recover until after the 2012 election. This one is the GOP's to lose.
HorAir:
In sum, the S&P downgrade marks a post on the road where progressive demagogy loses its power. The downgrade marks a post on the road to extinction for 19th-20th century progressivism. Thats why the Obama administration and true progressive ideologues made S&P their first target, however futile the gesture.
The KKK moved into the GOP during the 1960s and 1970s as you well know. Men like Harry Byrd repented their back ground and did good to do better. Men like Strom Thurmond moved into the GOP and fathered illegitimate black children.
NeoFascist, you are a racist and a far righty extremist fascist pretending to be a conservative Republican.
Byrd would have called you a "white ******"
And he'd be right
Still can't see how you could raise taxes by 150-200 billion a year without hurting the economy. I got no problem with a tax increase a few years down the road if and when the economy gets going and UE drops down to around 7% or so. I think raising taxes now or cutting spending too much in these perilous times would hurt too many people. I see no reason to get crazy about it, let's do it in a sane and rational manner. Yeah sure, that'll happen, LOL.
But it’s hard to read the S&P analysis as anything other than a blast at Republicans. In denouncing the threat of default as a “bargaining chip,” the agency was saying that the GOP strategy had shaken its confidence. Though S&P didn’t mention it, the agency must have been unnerved by the number of Republicans who insisted that it would be fine to blow through the debt ceiling and provoke a default.
As many other analysts have noted, the deficit-reduction deal wouldn’t stop debt from climbing faster than the nation’s GDP over the next decade. It warned that the government’s publicly-held debt would climb from 74 percent of GDP at the end of this year to 79 percent by the end of 2011.
But one reason S&P said it had become more gloomy was that it had revised its assumptions about the most likely course of fiscal policy. In previous projections, it said, its “base case scenario” had assumed that Bush tax cuts for the wealthy would expire at the end of 2012, while tax cuts for families earning less than $250,000 a year would be extended. That, it said, would have reduced deficits about $950 billion over ten years.
But the new S&P base case assumes that Congress extends all the Bush tax cuts. “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 said.
The people will bame the Tea Party for this, correctly.
lol....yeah, obama and the liberal senate majority are completely not responsible for anything...it is all the 80 or so tea party reps in the house
The people will bame the Tea Party for this, correctly.
lol....yeah, obama and the liberal senate majority are completely not responsible for anything...it is all the 80 or so tea party reps in the house
Remember anything must also pass the republican controlled house.
