Moody's... Obama and the Dems are lying about the Debt Celiing Crisis.

[thereisnospoon]

I wonder if the Press is going to hit Obama and the Democrats with this?

In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default.

Not so, Moody’s says in the memo dated Oct. 7.

” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.

I doubt it... But if it were an honest press they would.

Paying interest on the Treasury Notes is only one of many debts the Government must pay. Most media outlet have explained all that. If the fed can't borrow any money to pay it's debts somebody is not going to get paid.

Expenditures would have to be cut. I say the President should close up half the military bases we have scattered about the world. End the War on recreational drug users. Blanket amnesty for all non-criminal illegal aliens.

You say?
That is a chuckle
The only issue regarding the debt ceiling is without an increase, the federal government will be forced to borrow only what it can pay back.
It has NOTHING to do with, as Obama keep saying, "Bills not being paid"..
That is the lie.
The lack of an increase in the debt ceiling does not stop revenue from flowing to the government. Does not stop the current interest and principle of the debt from being paid. Does not stop the federal government from funding every department across the board.
And finally, has nothing to do with the budget.
The projected 10 year deficit now exceeds $17 trillion dollars. And Obama wants to increase that!
Why? There is no need.

I have no idea why I am attempting to explain this to a died in the wool Obama sycophant who would not know Prime Stock from Livestock

 

[thereisnospoon]

so why did they lower our credit rating two years ago?

A then projected deficit of $16 trillion. Now $17T....
Plain and simple.

 

[BlindBoo]

so why did they lower our credit rating two years ago?

S&P....August 5, 2011

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, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability."[

 

[BlindBoo]

I wonder if the Press is going to hit Obama and the Democrats with this?




I doubt it... But if it were an honest press they would.

Paying interest on the Treasury Notes is only one of many debts the Government must pay. Most media outlet have explained all that. If the fed can't borrow any money to pay it's debts somebody is not going to get paid.

Expenditures would have to be cut. I say the President should close up half the military bases we have scattered about the world. End the War on recreational drug users. Blanket amnesty for all non-criminal illegal aliens.

You say?
That is a chuckle
The only issue regarding the debt ceiling is without an increase, the federal government will be forced to borrow only what it can pay back.
It has NOTHING to do with, as Obama keep saying, "Bills not being paid"..
That is the lie.
The lack of an increase in the debt ceiling does not stop revenue from flowing to the government. Does not stop the current interest and principle of the debt from being paid. Does not stop the federal government from funding every department across the board.
And finally, has nothing to do with the budget.
The projected 10 year deficit now exceeds $17 trillion dollars. And Obama wants to increase that!
Why? There is no need.

I have no idea why I am attempting to explain this to a died in the wool Obama sycophant who would not know Prime Stock from Livestock

When the bills exceed the revenues somebody is not going to get paid if the feds can't borrow it from somewhere.

I support a balanced budget amendment.

 

[thereisnospoon]

Paying interest on the Treasury Notes is only one of many debts the Government must pay. Most media outlet have explained all that. If the fed can't borrow any money to pay it's debts somebody is not going to get paid.

Expenditures would have to be cut. I say the President should close up half the military bases we have scattered about the world. End the War on recreational drug users. Blanket amnesty for all non-criminal illegal aliens.

You say?
That is a chuckle
The only issue regarding the debt ceiling is without an increase, the federal government will be forced to borrow only what it can pay back.
It has NOTHING to do with, as Obama keep saying, "Bills not being paid"..
That is the lie.
The lack of an increase in the debt ceiling does not stop revenue from flowing to the government. Does not stop the current interest and principle of the debt from being paid. Does not stop the federal government from funding every department across the board.
And finally, has nothing to do with the budget.
The projected 10 year deficit now exceeds $17 trillion dollars. And Obama wants to increase that!
Why? There is no need.

I have no idea why I am attempting to explain this to a died in the wool Obama sycophant who would not know Prime Stock from Livestock

When the bills exceed the revenues somebody is not going to get paid if the feds can't borrow it from somewhere.

I support a balanced budget amendment.

One cannot support increasing debt and deficits AND a Constitutional Amendment that requires a balanced budget.
The debts is created by borrowing 40 cents for every dollar it spends.
That's absurd.

 

[Toro]

S&P has said that they would consider downgrading US debt again even if interest payments are made and the government has to prioritize payments, i.e. we go past the date of the debt ceiling around Oct 17. S&P lowered its outlook of US Treasury debt from Stable to Negative in July in anticipation of rancor around the debt ceiling.

 

[BlindBoo]

You say?
That is a chuckle
The only issue regarding the debt ceiling is without an increase, the federal government will be forced to borrow only what it can pay back.
It has NOTHING to do with, as Obama keep saying, "Bills not being paid"..
That is the lie.
The lack of an increase in the debt ceiling does not stop revenue from flowing to the government. Does not stop the current interest and principle of the debt from being paid. Does not stop the federal government from funding every department across the board.
And finally, has nothing to do with the budget.
The projected 10 year deficit now exceeds $17 trillion dollars. And Obama wants to increase that!
Why? There is no need.

I have no idea why I am attempting to explain this to a died in the wool Obama sycophant who would not know Prime Stock from Livestock

When the bills exceed the revenues somebody is not going to get paid if the feds can't borrow it from somewhere.

I support a balanced budget amendment.

One cannot support increasing debt and deficits AND a Constitutional Amendment that requires a balanced budget.
The debts is created by borrowing 40 cents for every dollar it spends.
That's absurd.

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

 

[LordBrownTrout]

Let's just raise it to 900 trillion and be done with it. It gets raised every time and they keep spending.

 

[The Rabbi]

When the bills exceed the revenues somebody is not going to get paid if the feds can't borrow it from somewhere.

I support a balanced budget amendment.

One cannot support increasing debt and deficits AND a Constitutional Amendment that requires a balanced budget.
The debts is created by borrowing 40 cents for every dollar it spends.
That's absurd.

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

What programs and spending would you liek to see cut?

 

[bendog]

The OP assumes that the credit rating would be unaffected by reduced and uneven funding of mandatory spending programs, and discretionary as well .... like Defense. And, I don't think Moody's or any other credit rating says that.

 

[BlindBoo]

One cannot support increasing debt and deficits AND a Constitutional Amendment that requires a balanced budget.
The debts is created by borrowing 40 cents for every dollar it spends.
That's absurd.

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

What programs and spending would you liek to see cut?

I'd rather see an increase in revenue through growth in the GDP.

 

[The Rabbi]

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

What programs and spending would you liek to see cut?

I'd rather see an increase in revenue through growth in the GDP.

Spending is growing faster than GDP.
How do you propose to accomplish that?

 

[Contumacious]

I wonder if the Press is going to hit Obama and the Democrats with this?

In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default.

Not so, Moody’s says in the memo dated Oct. 7.

” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.

I doubt it... But if it were an honest press they would.

Credit rater sees no risk of US defaulting

Honest press?

The are controlled by the government so they can not be both.

FCC To Courts: Screw You, I Do What I Want

.

 

[thereisnospoon]

When the bills exceed the revenues somebody is not going to get paid if the feds can't borrow it from somewhere.

I support a balanced budget amendment.

One cannot support increasing debt and deficits AND a Constitutional Amendment that requires a balanced budget.
The debts is created by borrowing 40 cents for every dollar it spends.
That's absurd.

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

The worry about infants and bath water has given rise to this kicking of the can down the road.
No one in DC has the balls to say "enough is enough. And we are going to all go down together one way or another, but we are not leaving this chamber until there is a solution.
And everyone will feel it. Everyone. Now do you want to play it safe and not risk your political career or do you want to do something great."
This nonsense of " yes a balanced budget is a great idea, but it has to wait until I retire from Congress" is what's killing our economy and exponentially growing the debt and deficit.

 

[thereisnospoon]

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

What programs and spending would you liek to see cut?

I'd rather see an increase in revenue through growth in the GDP.

Why?..Giving these jokers in Washington more to spend is like giving a fat person more to eat because they promised to go on a diet.
No. Government needs to do more with less( read more efficient methods of spending) just like the rest of us.
In fact, government should be run like a business with finite resources.
The big argument that would come, especially from the left would be about social entitlements. And not because these particular politicians would be concerned about the recipients.
But because they'd be worried about those 'auto' votes that come from those on public assistance.

 

[thereisnospoon]

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

What programs and spending would you liek to see cut?

I'd rather see an increase in revenue through growth in the GDP.

Oh....without growth in the private sector, there is no possible increase in revenue.
You see, contrary to popular belief among liberals, tax INCREASES have to paid for as well.

 

[Spoonman]

I wonder if the Press is going to hit Obama and the Democrats with this?

In a memo being circulated on Capitol Hill Wednesday, Moody’s Investors Service offers “answers to frequently asked questions” about the government shutdown, now in its second week, and the federal debt limit. President Obama has said that, unless Congress acts to raise the $16.7 trillion limit by next Thursday, the nation will be at risk of default.

Not so, Moody’s says in the memo dated Oct. 7.

” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.

I doubt it... But if it were an honest press they would.

So does this mean the last 15 posts made here by libs about the shutdown are nothing more than their failed attempts at spin?

 

[BlindBoo]

One cannot support increasing debt and deficits AND a Constitutional Amendment that requires a balanced budget.
The debts is created by borrowing 40 cents for every dollar it spends.
That's absurd.

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

The worry about infants and bath water has given rise to this kicking of the can down the road.
No one in DC has the balls to say "enough is enough. And we are going to all go down together one way or another, but we are not leaving this chamber until there is a solution.
And everyone will feel it. Everyone. Now do you want to play it safe and not risk your political career or do you want to do something great."
This nonsense of " yes a balanced budget is a great idea, but it has to wait until I retire from Congress" is what's killing our economy and exponentially growing the debt and deficit.

The deficit is shrinking. The sequester is having an effect. A balanced budget amendment is necessary so that future Congresses don't burden the country with this bull shit again in the future.

 

[The Rabbi]

The first thing we need to do is address the deficit. Hence the balanced budget. Then we can tackle the debt.

I just don't support throwing out the baby with the bath water.

The worry about infants and bath water has given rise to this kicking of the can down the road.
No one in DC has the balls to say "enough is enough. And we are going to all go down together one way or another, but we are not leaving this chamber until there is a solution.
And everyone will feel it. Everyone. Now do you want to play it safe and not risk your political career or do you want to do something great."
This nonsense of " yes a balanced budget is a great idea, but it has to wait until I retire from Congress" is what's killing our economy and exponentially growing the debt and deficit.

The deficit is shrinking. The sequester is having an effect. A balanced budget amendment is necessary so that future Congresses don't burden the country with this bull shit again in the future.

I actually oppose a balanced budget amendment.
But anyway, what programs would you like to see cut to achieve reductions in spending? What will make GDP growth occur?

 

[Darkwind]

why would i care what moody's says? they are part of the problem with how our economy got into this mess.

Moody's a major ratings agency with a lot of knowledge of budgets and so forth. They represent an expert opinion.
Since their expert opinion differs from what Rachel Maddow told you last night you must dismiss it in any manner possible.

So, plasmaglob is saying it doesn't care if the U.S. gets downgraded because they are part of the problem.

Some honesty? Naww.......