Merged Credit downgrade threads

[bripat9643]

That photo proves about as much as that bogus made-up chart you posted.

 

[CrusaderFrank]

CHARTS & FACTS: 10 Republican Lies About the Bush Tax Cuts

[ame=http://www.youtube.com/watch?v=2g5Hz17C4is&NR=1]‪SHAGGY - IT WASNT ME‬‏ - YouTube[/ame]

 

[Lakhota]

That photo proves about as much as that bogus made-up chart you posted.

That chart is right on! Are you a moran?

 

[The Rabbi]

That photo proves about as much as that bogus made-up chart you posted.

That chart is right on! Are you a moran?

No, that would be you.

 

[bripat9643]

That photo proves about as much as that bogus made-up chart you posted.

That chart is right on! Are you a moran?

How would anyone know that it's "right on?" Where's the proof that some 8-year-old didn't draw it with daddy's computer?

 

[Ravi]

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.

S&P admits to making a 2 Trillion dollar mistake in its calculations.

 

[Ravi]

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.

I definitely don't think we should raise taxes or cut spending right now. I think we should do it when the economy is on sounder footing. Cutting spending or raising taxes when the economy is weak is likely to push the economy back into recession.

Exactly. It would be counterproductive to hurt people now. Much better to let them plan for the hurt in two years.

Sadly, every two years we have new people in Congress that don't go along with what the old people decided and things don't happen as planned. I am not sure how that dilemma can be solved.

 

[editec]

Empire is expensive.

Sadly the masters has set up the cost of Empire in such a way that they and their minions recieive most of its benefits but do not pay for it.

Instead that cost is thrown onto the back of the US taxpayers of the future.

Nice racket these empire builders masters have going isn't it?

 

[Toro]

S & P Downgrade Repeatedly Cites GOP Intransigence On Taxes

It's both raising taxes and cutting spending. S&P made it clear that they are indifferent between raising taxes and cutting spending.

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

http://www.usmessageboard.com/politics/179003-merged-credit-downgrade-threads-23.html#post3963301

 

[Toro]

That photo proves about as much as that bogus made-up chart you posted.

That chart is right on! Are you a moran?

How would anyone know that it's "right on?" Where's the proof that some 8-year-old didn't draw it with daddy's computer?

It's from the CBO's latest projections on future spending.

 

[BoycottTheday]

It's from the CBO's latest projections

Written in stone then

 

[The Rabbi]

That chart is right on! Are you a moran?

How would anyone know that it's "right on?" Where's the proof that some 8-year-old didn't draw it with daddy's computer?

It's from the CBO's latest projections on future spending.

The same CBO that scored Obamacare as neutral?

 

[Neotrotsky]

That chart is right on! Are you a moran?

How would anyone know that it's "right on?" Where's the proof that some 8-year-old didn't draw it with daddy's computer?

It's from the CBO's latest projections on future spending.

Well in all fairness, the chart says

CBPP analysis based on CBO estimates
which seems to imply more than static copy of CBO numbers

One would have to look at how they estimated the chart
would they not

Being a Liberal think tank(CBPP) does not mean they are wrong
But one can question possible bias
The fact that this has been circulating among liberal bloggers
such as Ezra Klein, James Fallows, Andrew Sullivan, makes it suspect, as well.



In fact some have...

Their methodology fails statistics 101.

Imagine a basketball team that loses 100-98. It would make no sense to cherry pick one single basket by their opponent and blame it for 100 percent of the loss – letting all other baskets scored off the hook. Yet that is essentially what CBPP is doing.​

Under a current-policy budget baseline, Washington will collect $33 trillion in taxes and spend $46 trillion over the next decade. One could cherry-pick any $13 trillion in spending or tax policies and blame them for the entire budget deficit. CBPP chose to pick the tax cuts, wars, stimulus/bailouts, and economic downturn to equal the sum of the deficit. One could have just as easily singled out Social Security and Medicaid (combined cost: $13 trillion), Medicare and net interest costs ($13 trillion), or discretionary spending ($15 trillion) for blame. There is no mathematical reason to single out the programs CBPP selected while ignoring the other costs.​

The chart below shows the escalating costs of Social Security, Medicare, Medicaid, and net interest as responsible for nearly the entire inflation-adjusted spending increase projected over the next decade.

Liberals can spin the numbers any way they want: mandatory spending is the long-term moving variable driving deficits upward.​

 

[bripat9643]

Under a current-policy budget baseline, Washington will collect $33 trillion in taxes and spend $46 trillion over the next decade. One could cherry-pick any $13 trillion in spending or tax policies and blame them for the entire budget deficit. CBPP chose to pick the tax cuts, wars, stimulus/bailouts, and economic downturn to equal the sum of the deficit. One could have just as easily singled out Social Security and Medicaid (combined cost: $13 trillion), Medicare and net interest costs ($13 trillion), or discretionary spending ($15 trillion) for blame. There is no mathematical reason to single out the programs CBPP selected while ignoring the other costs.​

Exactly!

That's what the libturds are doing whenever they whine about "Bush's unfunded wars." The chart is just a more elaborate version of that. Why isn't it Obamacare or Headstart that's "unfunded?"

 

[Neotrotsky]

They like to pretend ObamaCare will cost nothing
They always exclude the cost imposed indirectly by PapaObama
Care like the birth control stuff- nothing is free who is going to pay for that
Oh yes free means force all insurance companies to pay for birth control without any copays,
which means higher premiums for all, that work.

They much prefer to cherry pick the CBO scoring which had to be
based on the numbers the Left packed it with

For example, they need to take 500 billion from Medicare to make
their own bogus numbers work

Does anyone really think they are really going to do that?

 

[LadyGunSlinger]

That photo proves about as much as that bogus made-up chart you posted.

That chart is right on! Are you a moran?

WTF is a moran????????????? OMG, priceless and the irony.. too much!!

 

[eflatminor]

Republican Ideology, Not Obama, Ruined our Credit Rating

Remember when the president suddenly offered the Republicans a grand bargain on deficit reduction and put entitlements on the table if the Republicans would only consider eliminating tax loopholes for private jet owners and other millionaires? Remember how so many progressives howled about the betrayal? Imagine what the world would like today if the president had not taken that step.

You have probably been subjected to an endless litany from progressives that this was all a fake crisis and that we don't really have a debt problem. That was never true. We do have a debt problem. We have a debt problem because Standard & Poor has come to the conclusion that we'll never be able to raise revenues. The Republicans' ideology has ruined our credit rating. The president could have been blamed for this downgrade if he hadn't shown a willingness to put entitlements on the table. In that case, both sides would be equally to blame. But the president wisely took the necessary action to protect our credit rating, and he was rebuffed when Eric Cantor and then John Boehner walked out of the negotiations.

Republican Ideology, Not Obama, Ruined our Credit Rating | AlterNet

Well that's simply a lie...and it's untrue! You said "Standard & Poor has come to the conclusion that we'll never be able to raise revenues". The report was NOT about taxes, it was about DEBT and how our project spending is unsustainable.

Secondly, the report did NOT say "never be able to raise revenues". That's a lie. It does say, buried deep in the report, the following: "...our revised base case scenario now
assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues."

The report also states: "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." Taking that in context with the fact that the entire overview section of the report focuses on debt due to over spending, we can be 100% sure that S&P didn't downgrade us because we haven't raised taxes.

In addition, it is very likely that raising taxes now would result in LESS revenue to the government. Sorry, that's how it works and that's why it ain't going to happen. Overall tax reform? Perhaps lowering of rates in conjunction with eliminating loopholes? Sure, we can talk about that but the reason we've been downgraded is too much goddamn debt and the specter of even more of it in the years to come.

Why do you think the administration is distancing itself from S&P? Because they support his argument? Well that would be insane wouldn't it.

Rather than quoting Progressive numb sculls, why not think for yourself and read the damn report:

http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline%3B+filename%3DUS_Downgraded_AA%2B.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application%2Fpdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8

Geez BDB, you drop these steaming piles of shit right in the middle of the debate...and then not another word. Troll much?

 

[Toro]

That photo proves about as much as that bogus made-up chart you posted.

That chart is right on! Are you a moran?

WTF is a moran????????????? OMG, priceless and the irony.. too much!!

Urban Dictionary: moran

 

[Full-Auto]

That chart is right on! Are you a moran?

WTF is a moran????????????? OMG, priceless and the irony.. too much!!

Urban Dictionary: moran

Posting proof that stupidity runs deep on the left, probably wasnt your best move.

 

[LibocalypseNow]

Join the Constitutional Conservative Movement. It's our nation's only hope at this point. The Socialists/Progressives & Neocons don't have the answers. Join and as many,we will triumph.