Egan-Jones downgrades US credit rating. IT IS NOT ABOUT THE DEBT LIMIT!!!!!!!

Discussion in 'Politics' started by Liberty, Aug 1, 2011.

  1. Liberty
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    Liberty Silver Member

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    It's ABOUT DEBT TO GDP!

    Egan-Jones Downgrades US From AAA To AA+ | ZeroHedge

    The debt ceiling is a red herring! It is the SPENDING that is the problem! HOLY FUCK come on people!!!!!!!!
     
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    Last edited: Aug 1, 2011
  2. The Rabbi
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    The Rabbi Diamond Member

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    The Debt Ceiling was only a proxy for the real issue: spending. Yes, we have an enormous spending problem, with debt over 90% of GDP. That isn't sustainable.
    We need to stop spending more today and adopt policies that will help this country grow. What are those policies? Take everything Obama and the Dems have done for the last 5 years and do the opposite.
     
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  3. Steelplate
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    Steelplate Bluesman

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    No... we have a revenue problem. More and more people are dropping out of the middle Class tax bracket and into lower brackets, which pay less in taxes. Combine that with all the loopholes that the rich can take advantage of that everyone else cannot.... and you have one hell of a drop in revenue.

    Yes.. we spend a lot. I am not denying that. But to sit there and blame one end of the spectrum alone is just partisan bullshit.
     
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  4. The Rabbi
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    The Rabbi Diamond Member

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    If revenue drops, spending needs to drop too. Revenue is down because of the recession. The recession has continued because the Democrats have pursued anti business policies. Raising taxes is a good example of anti business anti growth policy.
     
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  5. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    You do realize that if you confiscated EVERY $ owned by the evil rich, you'd net about $980,000,000,000?

    Yeah... that will fix everything.

    :lol:
     
  6. Liberty
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    Liberty Silver Member

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    the best way to increase revenue then would be to increase the tax base. the welfare system keeps people down, if we are going to "invest" in our people instead of welfare wouldnt some way to help develop talents of people be better so they can succeed and then pay income tax?
     
  7. Oddball
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    The bullshit is sitting around accusing others of spouting partisan bullshit, then spouting class warfare partisan bullshit.

    We have no revenue problem...The feds are going to take in somewhere in the neighborhood of $2-$2.5 TRIL this year.
     
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  8. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    These people lack a fundamental understanding of math. A 25% tax rate on $2 Trillion generates more $$ than a 25% tax on an economy half the size... economic growth automatically generates more revenue. You don't need higher rates of taxation, you just need to keep spending growth below economic growth.

    But, don't try getting these cement heads to grasp that... it's always we must raise taxes!
     
  9. Steelplate
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    Bullshit. Cutting Spending is a good example of anti-American, Hard Hearted Policy. You keep putting all this on people that can't afford to cope with it(which is most families from say.... $100k on down), you will further wreck the economy because they can't afford to buy the shit that "business" creates.

    But you idiots can't see that, can you? Your precious business community can't get blood from a stone. Destroying the buying power of the people isn't going to do a damned thing for the economy.
     
  10. Truthmatters
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    Truthmatters BANNED

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    Who made Egan-Jones Ratings Co one of the gaggle in dec 2007?

    this sounds planned to me
     

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