Debt Ceiling Raised--Credit Rating Lowered?

Discussion in 'Politics' started by Google, Aug 2, 2011.

  1. Google
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    Despite all the numerous claims made by the left that failure to increase the nation’s debt by $2 trillion dollars would inevitably cause the nation’s credit rating to be downgraded, all major credit rating agencies are predicting just that.

    This is perhaps the clearest example of the left’s ineptitude at financial matters. Not only is it illogical—it is so easily disproven that it defies any rational ability to explain—it is simply false. Any responsible adult can see just how absurd that mentality is.

    Like I’ve stated several times, too many to count, every time a credit rating downgrade was threatened since 2008 the reason cited was the amount of deficit spending, lack of fiscal discipline, and glacial economic growth.

    Is there any liberal out there that disputes this, or can provide a news article that contradicts this fact?

    Not one time has lack of taxation been cited as the motivating factor behind America losing its prestigious AAA credit rating.

    Well now that Congress has raised the nation’s ability to incur additional debt, which will now rival the GDP, Moody’s Investors Service is once again warning that a credit downgrade is rapidly approaching—and shockingly enough the reason given is “concern that fiscal discipline may erode, further debt reduction measures won’t be adopted and the economy may weaken” (U.S. Faces First Downgrade on Debt, Slowdown: Moody).

    The question is now is: when the inevitable happens, and America’s credit rating is downgraded, what happens?

    Do any of the leftists that were championing our demise--raising the national debt-- understand the result is higher interest rates on the unprecedented $16,000,000,000,000 debt; each American family owing somewhere in the ball park of $50,000.

    What happens when the Treasury auctions off its T-bills and no one buys?

    The answers to these questions are far beyond the intellectual ability of those envious, jealousy-motivated, hate-filled so-called progressives. They view this country with contempt. They believe America’s success created more negative than positive. This president has said these things, and the left is collectively anticipating the demise of America.

    This president is proudly presiding over an America in decline.
     
  2. Mustang
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    This has got to be the shortest time between a known impending event (the approach of the Aug 2nd deadline) and an attempt at revisionist history.

    Everyone knew the debt ceiling date was coming and what had to be done (kinda reminds me of hurricane Katrina, actually). But there was one group, and ONLY one group, that denied that default was a possibility or that there would be any problem if this common event of raising the debt ceiling was turned into some kind of three ring circus with the WHOLE world watching in disbelief.

    Yeah, Obama tried to get the big deal, and he tried to get a revenue component added to the deal, but this ONE group would have NONE OF IT. No, THEY knew best.

    And here we are.

    And now this one group is going to try to point the fingers at others? The personal responsibility crowd strikes again.

    What assholes!!!
     
  3. B. Kidd
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    Triple AAA remains intact......today.
     
  4. Google
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    Oh, what an insightful retort.

    Do you disagree that deficit spending/economic growth, or lack thereof, is the reason that credit rating downgrade will occur?

    Way to make no point at all :clap2:
     
  5. Mustang
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    No, I don't agree.

    I think our newly acquired reputation for being a banana republic whose representatives will not come together to solve problems. Instead we have certain representatives who insist on behaving like petulant children while the whole friggin' world is watching and waiting because they know their fate is directly or indirectly tied to ours in one way or another.

    Like I said, they're assholes.
     
  6. Google
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    Okay, you are either delusional or ignorant.

    Can you show me one, JUST ONE, credible news article backing your adolescent idea?

    "Standard & Poor's threatened in April to downgrade the United States' AAA credit rating unless the Obama administration and Congress find a way to slash the yawning federal budget deficit within two years." S&P restates political threat to U.S. AAA rating - Yahoo! News

    "Many economists believe that America could soon lose its triple-A credit rating, despite a deal being agreed. Standard & Poor's, the rating agency, recently said that a credible fiscal plan would need to include $4tn of deficit-reduction measures." (US debt deal agreed but may not save AAA credit rating | World news | guardian.co.uk)
     
  7. Google
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    Hell, even you comrades in Russia disagree with you :lol:

    "They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told the pro-Kremlin youth group Nashi while touring its lakeside summer camp some five hours drive north of Moscow." Putin says U.S. is parasite on global economy | Reuters

    You have absolutely no point to make at all. :razz:
     
  8. American Horse
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    American Horse AKA "Mustang"

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    If our credit rating is lowered it won't be because we had a debate and at the end of that debate decided not to raise job killing taxes which would have nil effects on future borrowing; it will be because we don't look serious about any real cuts in spending in the near term and raised our borrowing limit for a longer than normal time period to put the next overdraft beyond the political consequences of the next election.

    There was indeed one group with the courage to call attention to our precipitous position and it wasn't any reticence to raise the debt limit; the 200,000,000 of current revenues flowing into the treasury was plenty adequate to service the debt, fund SS, Medicare, the military's pay, and about 50-b left for other obligations.
     
    Last edited: Aug 2, 2011

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