Merged Credit downgrade threads

[del]

I know this might hurt and shatter your desire to just watch and listen to BS like Douche Hannity but you should actually READ what the S&P said:

...the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

Since then, we have changed our 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.

Ya see Republicans got what THEY wanted but the Democrats didnt get a take hike on the wealthy. They didnt COMPROMISE.
Instead they played a bullshit game JUST like what YOURE doing. And in turn they FUCKED AMERICA!

hey, clitwhistle

yeah, you

reading for comprehension is your friend

OK..... I'll go slow but Im NOT holding your hand. 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 with your freakin' eyeballs 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.

they lowered the credit rating because the asshats in both parties couldn't get their shit together-much like you

dope

 

[Full-Auto]

Maybe this downgrade will shock Congress into reality. Maybe not...

I wouldnt hold my breath.

 

[BDBoop]

they lowered the credit rating because the asshats in both parties couldn't get their shit together-much like you

dope

Yeah - no. What they ACTUALLY SAID WAS "because the majority of Republicans in Congress continue to resist any measure that would raise revenues"

Derp.

 

[Dot Com]

hey, clitwhistle

yeah, you

reading for comprehension is your friend

OK..... I'll go slow but Im NOT holding your hand. 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 with your freakin' eyeballs 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.

they lowered the credit rating because the asshats in both parties couldn't get their shit together-much like you

dope

STOP TROLLING!!!

 

[del]

they lowered the credit rating because the asshats in both parties couldn't get their shit together-much like you

dope

Yeah - no. What they ACTUALLY SAID WAS "because the majority of Republicans in Congress continue to resist any measure that would raise revenues"

Derp.

link?

 

[Missourian]

S&P made it clear several times that the main driving force behind a downgrade was the debt, deficit spending, and glacial economic growth.

S&P: Deficit cuts of $4 trillion a good start | Reuters

(Reuters) - Cutting the U.S. deficit by some $4 trillion over 10 years would be a good start, but more savings would be needed over time to bring the country's finances under control, ratings agency Standard & Poor's said on Thursday.

There it is in a nutshell.

We can't raise revenues BECAUSE THE DEMOCRATS WILL JUST SPENT IT.

The Democrats want to end the Bush Tax Cuts SO THEY CAN SPEND IT.

They want to tax the rich SO THEY CAN SPEND IT.

They want to tax internet sales SO THEY CAN SPEND IT.

They have no intention of paying down the debt...just keep raising the debt ceiling.

And the Republicans are no better. They raised the debt ceiling too, and spent like they stole Dad's credit card.

The Tea Party is the only hope. They are the only ones who are serious about reducing the deficit and the national debt.

The Democrat haven't produced a budget in years!

How can you even pretend to care about the deficit or debt.


When you find yourself getting your credit downgraded for the first time in history, the first thing you should do is STOP SPENDING.

Then cut spending...cut it some more...and when you get done....go back and cut again.



Then and only then can we raise taxes...to pay down the debt.

 

[Dot Com]

they lowered the credit rating because the asshats in both parties couldn't get their shit together-much like you

dope

Yeah - no. What they ACTUALLY SAID WAS "because the majority of Republicans in Congress continue to resist any measure that would raise revenues"

Derp.

del's trolling. he's quit adept at it

 

[Dr.House]

they lowered the credit rating because the asshats in both parties couldn't get their shit together-much like you

dope

Yeah - no. What they ACTUALLY SAID WAS "because the majority of Republicans in Congress continue to resist any measure that would raise revenues"

Derp.

The ACTUAL reasons were already posted and didn't say that....

Dumbfuck liar....

 

[Toro]

S&P had no choice. The deal to lift the debt ceiling fell short compared to what they staked out in July. Whatever credibility they had left would have gone out the window had they not cut the rating.

But once again, the ratings agencies show their impeccable timing, downgrading the debt of the country on a Friday night after the stock market had fallen 12% in a week. Outstanding.

 

[Dot Com]

T-publicants:

 

[hellofromwarsaw]

Sounds like S+P are a bunch of Pub Morons who will have to cancel this BS.

WASHINGTON, Aug. 5 (UPI) -- The bond rating agency Standard & Poor's Friday downgraded U.S. debt from its current triple-A rate to AA+, a move an administration official called "amateur."

Citing government officials it did not identify, ABC had reported earlier Friday the administration was preparing for such a move.

S&P said the downgrade reflects its opinion that the debt reduction plan Congress enacted "falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics."

"The effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges," S&P said in announcing its decision.

One federal official told ABC News the downgrade would be based in part on confusion associated with the way Congress handled legislation to raise the limit on federal borrowing and a lack of confidence that further deficit reduction can be achieved under the current U.S. political system.

Citing another source it did not identify, ABC said another reason for the move was be the Republicans' refusal to allow a deficit reduction deal to include new revenues.

However, another government official said the White House had told S&P the company's thinking was "based on flawed math and assumptions." And S&P acknowledged "its numbers are wrong."

An administration official told NBC News after the credit rating was lowered, "It's amateur hour at S&P."

Treasury Department officials said the S&P announcement came after Treasury pointed out the rating agency, in a draft of its downgrade announcement, overstated U.S. debt by incorrectly adding $2 trillion to its projection of the debt, The New York Times reported.The effect of the downgrade was a matter of speculation Friday but the Times noted that a small increase in interest rates on borrowed funds could add tens of billions of dollars to the nation's annual debt repayment.

There is also a possibility that a downgrade of federal debt could lead to downgrades of other government-backed instruments, possibly leading to higher mortgage interest rates.

Rep. Barney Frank, D-Mass.,, the ranking member on the House Financial Services Committee, said on MSNBC the decision was "just a political judgment by a group of incompetents."

"This is the rating agency that took money from people who were selling junk bonds and told other people to buy it," Frank said, accusing S&P of overvaluing private debt while consistently undervaluing public debt."

They are as responsible for the financial crisis as anybody else.

"There is zero chance of (the United States) defaulting," Frank said.Moody's Investor Services and Fitch Ratings both said Tuesday they will keep the country's credit rating at triple-A for now, but they said a downgrade is still possible if the U.S. financial situation deteriorates or if promised federal spending cuts don't materialize.

The two credit ratings firms issued their assessments after President Barack Obama signed into law compromise legislation passed by Congress to raise the nation's debt limit and cut its budget deficit.

© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification


Read more: S&P lowers U.S. credit rating - UPI.com

 

[BDBoop]

they lowered the credit rating because the asshats in both parties couldn't get their shit together-much like you

dope

Yeah - no. What they ACTUALLY SAID WAS "because the majority of Republicans in Congress continue to resist any measure that would raise revenues"

Derp.

link?

S&P Downgrades U.S. Debt Rating — Press Release - MarketBeat - WSJ

Compared with previous projections, 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, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.

 

[Dot Com]

T-publicans got 98% of what they wanted= credit downgrade. Questions?

 

[Avorysuds]

This is because politics took precedence over the economy. If the President had been given a clean debt bill...just like the 100+ times other Presidents have been given before, we would not have been downgraded.

The Teapublicans will get the blame.

YES! We are back to trying to pin blame on the minority of the Republicans (like 15 people) in the house! FUCK YEAH! Lets hope America is dumb enough to buy it.

 

[del]

they lowered the credit rating because the asshats in both parties couldn't get their shit together-much like you

dope

Yeah - no. What they ACTUALLY SAID WAS "because the majority of Republicans in Congress continue to resist any measure that would raise revenues"

Derp.

del's trolling. he's quit adept at it

quite

 

[Toro]

FTR, the vitriolic arguments by people blaming the other side in this thread are a good representation why S&P cut the debt, and why people outside this country are viewing America as dysfunctional. The parties are not interested in solving the debt issue. They are interested first and foremost in establishing their own ideology. Thus, neither side is willing to do what is necessary to get this done. Both sides are to blame, as they would rather pander to their bases and point fingers than accomplish what is necessary.

 

[The_GiantNoodle]

This puts Obama in a hard place...he has two options:

1. Accept responsibility, like an adult, by admitting failure.

2. Blame the Republicans, demonstrating that he lacks the ability to control a minority party in time of crisis.

You dont understand this subject. I can tell. Let me help you too.....

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.

If you cant understand this simple, direct stuff, then youre just lost.
​

We appreciate you trying to pretend you understand.

However taxing the rich only produced 70 billion a year.

DOH!!!

Read what I said again. But this time try concentrating. Turn off the TV and radio. Really FOCUS.

Ya see Im actually quoting what the S&P said. And Im quoting what Boehner ACTUALLY said.

Now YOU..... youre just giving me your opinion.
And like assholes, everyone has one. Please comeback with actual facts N' Stuff next time ok? Thanks!

 

[Dot Com]

Yeah - no. What they ACTUALLY SAID WAS "because the majority of Republicans in Congress continue to resist any measure that would raise revenues"

Derp.

del's trolling. he's quit adept at it

quite

thats what I said.

 

[del]

FTR, the vitriolic arguments by people blaming the other side in this thread are a good representation why S&P cut the debt, and why people outside this country are viewing America as dysfunctional. The parties are not interested in solving the debt issue. They are interested first and foremost in establishing their own ideology. Thus, neither side is willing to do what is necessary to get this done. Both sides are to blame, as they would rather pander to their bases and point fingers than accomplish what is necessary.

bingo

 

[del]

del's trolling. he's quit adept at it

quite

thats what I said.

not quite