A second downgrade to our credit is right around the corner, will congress get seriou

[Remodeling Maidiac]

It's time for serious discussions about cuts and tax reform. Or are we all just gonna sit back, let the super congress do nothing and then point fingers.

The damn senate needs to get to work and head off this completely avoidable disaster.

 

[Remodeling Maidiac]

Of course you all will be all over this AFTER the downgrade happens.

 

[BDBoop]

I'll Serenity Prayer my way through this one. Too much stress last time. The Republican candidates have already announced they'd let it happen, if ANY tax hikes were involved, even at a rate of 10-1.

Grover Norquist won't allow it, and since he's their 'be-all, end-all', I'm just going to understand that the looney sticker you've aimed at the left belongs to the right, and watch events unfold.

 

[Remodeling Maidiac]

Thank you BDBoop for your usual contribution. Your tripe is always fun to read.

 

[KissMy]

Many downgrades happened prior to the S&P downgrade. China, Germany & Egan Jones downgraded the US debt as far back as last year. The downgrade was earned & a long time coming. More downgrades are coming.

CNN: Chinese agency downgrades U.S. credit rating for the 3rd time.

German Rating Agency Feri Downgrades US Government Bonds: AAA to AA! | zero hedge

Egan-Jones Downgrades US From AAA To AA+ It had nothing to do with the current Debt Limit!!! It was due to the looming 100% Debt to GDP ratio.

Moody's lowered its outlook on U.S. debt to "negative." | CNN

S&P Downgraded US Credit to AA+ | AP

Fitch Statement Shows US Downgrade Risk Remains In Play

Gold upgrade to a Tier 1 Asset while US Bonds get downgraded.[/QUOTE]

 

[KissMy]

Listen to David Walker, the former U.S. Comptroller General under Bill Clinton & Bush

David Walker: [ame="http://www.youtube.com/watch?v=ywEEeM7yieU&feature=fvsr"]"Need $4Trillion in deficit reduction"[/ame]

 

[Avatar4321]

I can guarentee you that once again Democrats will oppose any sort of spending cut and then blame Republicans when a second downgrade occurs.

 

[AlabamaTrojan]

When the next downgrade happens both parties will start blaming each other, and continue on as they were. Also whichever party is in power will blame whoever issues the downgrade and claim it was political. Meanwhile the debt will continue to rise and the downgrades will keep on coming.

 

[theliq]

It's time for serious discussions about cuts and tax reform. Or are we all just gonna sit back, let the super congress do nothing and then point fingers.

The damn senate needs to get to work and head off this completely avoidable disaster.

BUT Grampa...NICE to see the employment figures increasing....so it is not all Gloom.steven

 

[Douger]

Another letter ? Now your going to be urkins !
Another 5 year and it's _______ !

 

[Douger]

Getcha summa these.
Standard and Poor could upgrade Chile

 

[KissMy]

Fitch Ratings gave the United States until 2013 to come up with a "credible plan" to tackle its ballooning budget deficit before it downgrades the country's credit rating.

Moody's has also given us the same deadline as to when they will downgrade the US credit rating.

 

[editec]

It's time for serious discussions about cuts and tax reform. Or are we all just gonna sit back, let the super congress do nothing and then point fingers.

The damn senate needs to get to work and head off this completely avoidable disaster.

The solution is simple, Gramps..

Increase the GNP.

 

[zeke]

We deserve what ever we get. We have done it to ourselves. The rest of the world must look at us and wonder; wtf is wrong with those people.

I wonder the same thing. We elect pitiful representation. And expect top notch results. Then blame the other side when it turns out all fked up. We get what we vote for then aren't satisified with the result.

 

[Avatar4321]

I recommend that if you can get yourself out of debt, now would be a good time.

 

[bitterlyclingin]

Obama is one problem and the Senate Democrats are the other problem. Remember, they wanted a two trillion dollar stimulus, but choked at the thought of trying to go for the whole hog, and settled for the $787 billion instead. If the Dems had had their way in 2009, the deficit would be 17 trillion now, instead of 16 trillion. The debris field of trashed and shattered Green Energy programs promoted and touted by Obama and his fellow free spending Democrats, "We have to pass this bill in order to find out what's in it", Solyndra, the Chevy Volt, Abound, Fisker, now resembles the debris field of wreckage that littered the East Boat Basin landing beach at Iwo Jima, February, 1945.

 

[Full-Auto]

It's time for serious discussions about cuts and tax reform. Or are we all just gonna sit back, let the super congress do nothing and then point fingers.

The damn senate needs to get to work and head off this completely avoidable disaster.

Will Congress get serious?




If you recall the first budget cut fight, afterwards both sides came out and announced Historic cuts..................

That resulted in 29 billion in additional spending.


You should begin insulating yourself now.

 

[TakeAStepBack]

This problem will not be fixed by any presidential candidate, or any of the current congress. The downgrade is inevitable and the debt will continue to increase over 100% of GDP.

I find it funny that some of us have seen this coming for years of building debt and deficit spending and we were all crazy. Now that it's at the door, it's a problem.

Too late, folks. Prepare accordingly.

 

[eflatminor]

The Republican candidates have already announced they'd let it happen, if ANY tax hikes were involved, even at a rate of 10-1.

Not true. They said they would not vote to support any tax hikes now that are accompanied by the PROMISE of spending decreases in the future. You want tax reform now, agree to spending cuts NOW. And by spending cuts, we don't mean a slight decrease in the planned rate of increased spending. Real cuts, now. If the Dems even considered for a second shrinking the size of government, you'd get serious tax reform.

Raising tax rates now on a select group of individuals and/or corporations in exchange for the promise of future spending cuts, understanding that a current Congress has no means to bind a future Congress? No frickin' way...not even a 10 to 1 ratio...because those future spending cuts NEVER happen.

 

[uscitizen]

Umm how long is that corner?