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

[Truthmatters]

Egan-Jones Rating Company - Wikipedia, the free encyclopedia





On Dec. 21, 2007 the SEC granted Egan-Jones NRSRO status, thus including them in a group of eight recognized NRSRO's.

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[Truthmatters]

Nationally recognized statistical rating organization - Wikipedia, the free encyclopedia



Credit Rating Agency Reform Act of 2006

In 2006, following criticism that the SEC's "No Action letter" approach was simultaneously too opaque and provided the SEC with too little regulatory oversight of NRSROs, the U.S. Congress passed the Credit Rating Agency Reform Act. This law required the SEC to establish clear guidelines for determining which credit rating agencies qualify as NRSROs. It also gives the SEC the power to regulate NRSRO internal processes regarding record-keeping and how they guard against conflicts of interest, and makes the NRSRO determination subject to a Commission vote (rather than an SEC staff determination). Notably, however, the law specifically prohibits the SEC from regulating an NRSRO's rating methodologies.

In June 2007, the SEC promulgated new rules[5] that implemented the provisions of the Credit Rating Agency Reform Act.

facts

 

[Google]

Manufacturing growth hits lowest level in 2 years

It just makes you giddy with joy doesnt it

You are a damn hypocrite. During Bush's presidency the left jumped with joy at the opportunity to exploit the deaths of American service men or any bad economic news they could use to smear Bush.

And it was blatantly transparent when they did it.

You are probably one of those hypocrites that bemoans the treatment of Obama saying its unprecedented. Were you brain dead or in a coma during Bush's presidency?

 

[CrusaderFrank]

Obama's and his annual $1.6 Trillion deficit is the problem

 

[Steelplate]

Manufacturing growth hits lowest level in 2 years

Try adding the manufacturing in china and all the rest of the slave labor nations... then see what the Manufacturing growth is. It's not that American Companies aren't making anything... it's that they've kneecapped the American worker.

 

[Liberty]

TM, stop spamming my thread you piece of shit.

 

[Defiant1]

Manufacturing growth hits lowest level in 2 years

Try adding the manufacturing in china and all the rest of the slave labor nations... then see what the Manufacturing growth is. It's not that American Companies aren't making anything... it's that they've kneecapped the American worker.

Is there some law that I missed that demands that American companies owe jobs to American workers?

 

[KissMy]

Democrats have been in power since 2006. Haven't they done wonders with the economy over the past 5-1/2 years? Debt on the day Democrats took control $8,670,596,000,000. Debt today $14,561,230,000,000. So 5-1/2 years of Democrat Debt = $5,890,634,000,000. There now are 7 million fewer employed Americans since the democrats took over.

CNN Poll: For first time, majority is pessimistic about America’s economic future

84 percent of Americans feel the economy is in poor shape. While some expect economic conditions to improve, a majority-59 percent-believes the economy will still be in poor shape one year from now. It’s the first time in the 14 years that CNN has asked the question that a majority has been pessimistic about the country’s economic future. “That’s a very significant, and very discouraging change in public attitudes toward the economy,”

 

[Soggy in NOLA]

Manufacturing growth hits lowest level in 2 years

Try adding the manufacturing in china and all the rest of the slave labor nations... then see what the Manufacturing growth is. It's not that American Companies aren't making anything... it's that they've kneecapped the American worker.

Is there some law that I missed that demands that American companies owe jobs to American workers?

No... But don't waste your time... the Fabian Socialists can never get their heads around anything that doesn't involve raping the private sector for the "common good", or some other such nonsense.

 

[The Rabbi]

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.

9.2% is the offical unemployment stat,, most say it's more likely 25%,, that's why obie doodle has no revenue,, he's been nasty to the business world and incurred debt on them by way of obiedoodle care.. that accounts for decrease in revenue,,

notice how the UE went up with the extension of the Bush tax cuts?

trickle down doesnt work.

Uh oh this puts you guys in are pickle. You actually have to admit that either trickle down and the tax cuts dont work or look like a fool trying to make an excuse for them.

I think Skooker is right: You have the IQ of a soap dish.
How about admitting that Obama's entire economic program is a dismal failure that has thrown America on a course for financial ruin?
That's more like it.

 

[iamwhatiseem]

The best way to increase revenue is to stop the EIC that give 55% of the working population more money back in income taxes than they paid in!!
That is a H E L L of a lot of money.

 

[iamwhatiseem]

And another thing...stop wasting $billions of dollars in wasted college tuition grants to people that are only using it to take a 4 year vacation and not even graduate. Last figure I saw - over half of all federal tuition grants go to "students" that fail to graduate.

 

[The Rabbi]

notice how the UE went up with the extension of the Bush tax cuts?

trickle down doesnt work.

Uh oh this puts you guys in are pickle. You actually have to admit that either trickle down and the tax cuts dont work or look like a fool trying to make an excuse for them.

I think Skooker is right: You have the IQ of a soap dish.
How about admitting that Obama's entire economic program is a dismal failure that has thrown America on a course for financial ruin?
That's more like it.

it has because he never really got what he wanted. See he caves to people like you because he fears looking bad or something. If that was me i would have told you to fuck off.

Its ok telling me i have the Iq of a soapdish that makes rocks look smart really isnt all that concerning.

Obama had filibuster proof majorities in Congress for 2 years. To whom did he cave? When did he ever even take a stance on anything?
Obama did tell theGOP to fuck off. But in the end something called Reality mugged him and even he realized that raising taxes in a recession was a dumb idea.

 

[BDBoop]

Manufacturing growth hits lowest level in 2 years

Try adding the manufacturing in china and all the rest of the slave labor nations... then see what the Manufacturing growth is. It's not that American Companies aren't making anything... it's that they've kneecapped the American worker.

Is there some law that I missed that demands that American companies owe jobs to American workers?

You mean besides them getting American tax breaks? Hmm. Let me think on this.

 

[iamwhatiseem]

Try adding the manufacturing in china and all the rest of the slave labor nations... then see what the Manufacturing growth is. It's not that American Companies aren't making anything... it's that they've kneecapped the American worker.

Is there some law that I missed that demands that American companies owe jobs to American workers?

You mean besides them getting American tax breaks? Hmm. Let me think on this.

We would all be better off if businesses paid little to no income taxes.
Not the owners...the business revenue itself.
I know it is difficult for progressive intellectual leftist warriors to figure out - but the healthier and more profitable businesses are - the better off employees are.
What works better is tarrifs on incoming raw materials and products from foreign countries that American businesses turn for a profit.
Also - repeal NAFTA.

 

[Lovebears65]

IF this administration would back off on some of the regulations the business owners would hire more people and people who want to open a new business they could without all the red tape . A new business would create new jobs!!!

 

[auditor0007]

It's ABOUT DEBT TO GDP!

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

Real GDP increased at an annualized rate of 4.0% in Q1 2011, following an increase of 3.5% rise in the prior quarter. Personal consumption expenditures, exports, and nonresidential fixed investment contributed positively to growth during the quarter. Meanwhile, imports rose sharply. In the March 2011 quarter, trade in goods and services resulted in a deficit of $562B, many because of the high price of petroleum. However, the major factor driving credit quality is the relatively high level of debt and the difficulty in significantly cutting spending. We are taking a negative action not based on the delay in raising the debt ceiling but rather our concern about the high level of debt to GDP in excess of 100% compared to Canada's 35%. Nonetheless, since the US's debt is denominated in dollars, a hard default is unlikely.

The debt ceiling is a red herring! It is the SPENDING that is the problem! HOLY FUCK come on people!!!!!!!!

And how has Canada kept down its debt? First of all, they only spend around 1.5% of GDP on defense, compared to our current 6%. And then to top it off, they collect much more in taxes per capita than here in the US, so that they can actually pay for their programs. Yes, the answer is that they pay more in taxes. It is more than obvious that our problem is a revenue problem. Holy Fuck, come on people!!!!!!!!!!!!!

See, the other side can play that game too. The fact is that based on historical spending and revenue over the last 60 years, we are currently spending about 25% more than we have and we are underfunded by about 30%.

 

[BlindBoo]

I think Skooker is right: You have the IQ of a soap dish.
How about admitting that Obama's entire economic program is a dismal failure that has thrown America on a course for financial ruin?
That's more like it.

it has because he never really got what he wanted. See he caves to people like you because he fears looking bad or something. If that was me i would have told you to fuck off.

Its ok telling me i have the Iq of a soapdish that makes rocks look smart really isnt all that concerning.

Obama had filibuster proof majorities in Congress for 2 years. To whom did he cave? When did he ever even take a stance on anything?
Obama did tell theGOP to fuck off. But in the end something called Reality mugged him and even he realized that raising taxes in a recession was a dumb idea.

No he didn't. You see the Democrats do not march in lock step like the Repuclicans do, and 59 does not equal 60. Democrats never had 60 Senators in 2009. One must realize that the Republicans are willing to destroy the American economy in order to make President Obama a one term president. That is their number one top priority, everything else is expendable.

 

[shintao]

IF this administration would back off on some of the regulations the business owners would hire more people and people who want to open a new business they could without all the red tape . A new business would create new jobs!!!

Well lets see. That is a lie lacking any foundation of proof, guts your credibility as a poster, and makes you look like a fool. Other than that, have a nice day..........

 

[Google]

it has because he never really got what he wanted. See he caves to people like you because he fears looking bad or something. If that was me i would have told you to fuck off.

Its ok telling me i have the Iq of a soapdish that makes rocks look smart really isnt all that concerning.

Obama had filibuster proof majorities in Congress for 2 years. To whom did he cave? When did he ever even take a stance on anything?
Obama did tell theGOP to fuck off. But in the end something called Reality mugged him and even he realized that raising taxes in a recession was a dumb idea.

so he didnt raise taxes and the economy stalled out even more.


No he caved to a bunch of morons because he wont hold any stances on anything. Reality Rabbi is everyone in the world wanting us to pass a debt bill and a small fringe of morons trying to bring down the world economy.

You realize stupid that not raising the debt ceiling would kill us right? We had Saudi Arabia saying we had to because they deal in dollars, and if we defaulted it would kill the dollar and oil would cost even more.

Do you actually realize what that would do to our economy? No i dont think you actually do, nor the rest of your moronic ilk. So go ahead complain about 4$ a gallon, because had you got your way and we defaulted we would be paying even fucking more, and YOU would be to blame.

But your too stupid relying on your non working trickle down theories, and how cutting taxes and spending will save us.

If the president is so certain that tax increases will have a beneficial effect on the economy why did he extend the Bush tax cuts, and never propose an actual written bill with tax increases?

The Democrats controlled Congress and the presidency for two years, and this isn't some new idea Obama had. He has said that raising taxes is the fair thing to do, but he has also said that raising taxes in a recession is not the proper thing to do.

Obama has stated that higher energy costs is a necessary. He wants to put the coal industry out of business.

This president has been a success at passing his legislative agenda. Do the two years this president and his own party controlled congress mean nothing? The way leftists deflect blame from their party defies logic. In their minds the only reason these unprecedented policies yielded zero results is because they didn't go far enough.