France Follows USA DownGrade Status: For GOP, The Fiscal Insanity Is In Their Blood

[mascale]

So Now as Europe commences the onslaught of S&P downgrades, What is So Wrong With Government Debts?

France Downgraded One Notch: We Have Confirmation - MarketBeat - WSJ

Anti-American Bush Tax Cuts supporters now have company with French non-payers, Italian non-payers, Greek non-payers, Spanish non-payers, and Portugese non-payers.

Apparently the Germans, in contrast, are good, solid payers: Even having kept all the money they were due, in the Third Reich Holocaust. All The Civilized nations, of course, kept all the money they were due: In the Financial Foreclosures of the Blundered mortgages crisis. The United States went even so far as to reward the banks for having blown it: And Sent Them TARP, for cover(?)! People like Ron Paul would have another name for the U. S. currency outcome: A long and continuing consequence.

S&P had famously faulted Republican Fiscal Policy as a large part of the last summer downgrade. The other major tax avoiders, are European.

Just coincidentally, no doubt, the ancestry of most Republicans is weighted toward European Heritage. The more Hawaiian heritage, for example, appears not to be included!

And then there is the matter of how tax avoidance policy seems to go hand-hand-hand with a looming Euro-Recession!

"Crow, James Crow: Shaken, Not Stirred!"
(And so The Final Solution To The Presbyterian Question," advances a few more notches: "Just is where is all of this money going to come from?" Even in America, they have to ask(?)!)

 

[Oddball]

Socialists have been in charge of the EU and the various nations over there getting the downgrades, not the GOP, nitwit.

 

[California Girl]

Guess who hasn't been downgraded?

Britain.

Who leads Britain these days?

Conservatives.

Coincidence?

Hmmm.

 

[paulitician]

Huh?? "Anti-American...Tax Cuts...BOOOOOOOOSH!" Nice incoherent gibberish. WTG!

 

[francoHFW]

S+P should be the ones downgraded...

 

[CrusaderFrank]

Mescaline, S&P blamed out of control spending, not Republicans you fucking retard

 

[paulitician]

The American Socialist/Progressive - Western European fairy tale utopia is dead. The EU is an awful catastrophe on the brink of collapse. The American Socialists/Progressives have always pushed for their systems here but now most Americans can see what a failure they are. There will not be an American Socialist/Progressive fantasized Western European utopia. And it wont happen here either. It is what it is.

 

[CrusaderFrank]

Dems: Still no budget, record debt, deficits and our first downgrade

 

[JakeStarkey]

Guess who hasn't been downgraded? Britain. Who leads Britain these days? Conservatives. Coincidence? Hmmm.

Hmmm. Because they did not accept the Euro. Who was in charge then?

 

[mascale]

Excessive spending was not faulted at S&P in the downgrade of U. S. debt to AA+

"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade. . . ."

"Outlook"

"The outlook on the long-term rating is negative. As our downside alternate fiscal scenario illustrates, a higher public debt trajectory than we currently
assume could lead us to lower the long-term rating again. On the other hand, as our upside scenario highlights, if the recommendations of the Congressional Joint Select Committee on Deficit Reduction--independently or coupled with other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal consolidation measures beyond the minimum mandated, and we believe they are likely to slow the deterioration of the government's debt dynamics, the long-term rating could stabilize at 'AA+'."

Over and over and over again the stupid Bush Tax Cuts, of the Great Avoiders--like in Europe--are faulted as the source of the downgrade.

Repeal of the stupid Bush Tax, of the Great Avoiders--like in Europe--is cited as a basis of hope.

"Crow, James Crow: Shaken, Not Stirred!"
(Great Eagle soaring: Not keen on shedding all feathers in flight, according to wise squaw, "Great Lips Licking-Like-Tongues:" Not of UC or Ivy League!)

 

[California Girl]

Guess who hasn't been downgraded? Britain. Who leads Britain these days? Conservatives. Coincidence? Hmmm.

Hmmm. Because they did not accept the Euro. Who was in charge then?

That wasn't a 'decision' by Labour.... it was self preservation.... because the British people would have got up off their asses and lynched the fucking government if they had given up their currency. The British people point blank would not accept the Euro.

And the simple fact remains.... Britain is in the same situation as the US and most of Europe... and they have maintained their AAA - and the main reason they have kept it is the austerity measures that the Conservatives introduced.

 

[JakeStarkey]

Nice try.

 

[mascale]

U. S. Conservatives demand that people be fired, and then put into bankruptcy from medical crises. That is why they are for premiums going up, while coverage comes down: Year After years. That is called a "Free Market," according to Conservatives.

So The Democrats responded with ObamaCare, so that Americans would always have a colored man's health plan around.

The English managed to get their plan done, way ahead of any of that. So did Canada, so did most of Europe. In fact, worldwide. . . . .it was probably bound to happen way ahead of that!

"Crow, James Crow: Shaken, Not Stirred!"
(Ostrich run like devil possessed, only to bury head in the earth. . . .awaiting whatever comes next(?). . . .Maybe Great Papa Ostrich(?). . .of Manly. . . .orientation(?). . . .hoping others wait(?)!)

 

[JakeStarkey]

Other paths than this one have been available for many decades, but the far right and the corporatists have fought it solely for their own profit.

 

[California Girl]

Nice try.

I'm quietly confident that, given my experience actually living in the UK, I know more about it than some assclown who'd struggle to define the difference between England, Britain and the UK without google.

 

[007]

U. S. Conservatives demand that people be fired, and then put into bankruptcy from medical crises. That is why they are for premiums going up, while coverage comes down: Year After years. That is called a "Free Market," according to Conservatives.

So The Democrats responded with ObamaCare, so that Americans would always have a colored man's health plan around.

The English managed to get their plan done, way ahead of any of that. So did Canada, so did most of Europe. In fact, worldwide. . . . .it was probably bound to happen way ahead of that!

"Crow, James Crow: Shaken, Not Stirred!"
(Ostrich run like devil possessed, only to bury head in the earth. . . .awaiting whatever comes next(?). . . .Maybe Great Papa Ostrich(?). . .of Manly. . . .orientation(?). . . .hoping others wait(?)!)

Look man... you're in here with your partisan hack bull shit socialist line of crap trying to blame conservatives and no one is buying it. There isn't one single solitary example on earth of a socialist society that was successful. Not ONE! You're bating zero rectum breath.

Tell you anything Einstein? Get a fucking clue moron.

 

[CrusaderFrank]

Excessive spending was not faulted at S&P in the downgrade of U. S. debt to AA+

"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade. . . ."

"Outlook"

"The outlook on the long-term rating is negative. As our downside alternate fiscal scenario illustrates, a higher public debt trajectory than we currently
assume could lead us to lower the long-term rating again. On the other hand, as our upside scenario highlights, if the recommendations of the Congressional Joint Select Committee on Deficit Reduction--independently or coupled with other initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal consolidation measures beyond the minimum mandated, and we believe they are likely to slow the deterioration of the government's debt dynamics, the long-term rating could stabilize at 'AA+'."

Over and over and over again the stupid Bush Tax Cuts, of the Great Avoiders--like in Europe--are faulted as the source of the downgrade.

Repeal of the stupid Bush Tax, of the Great Avoiders--like in Europe--is cited as a basis of hope.

"Crow, James Crow: Shaken, Not Stirred!"
(Great Eagle soaring: Not keen on shedding all feathers in flight, according to wise squaw, "Great Lips Licking-Like-Tongues:" Not of UC or Ivy League!)

S&P downgrades U.S. credit rating from AAA - USATODAY.com

S&P's statement was blunt in its assessment.

"We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process,"

 

[JakeStarkey]

Nice try.

I'm quietly confident that, given my experience actually living in the UK, I know more about it than some assclown who'd struggle to define the difference between England, Britain and the UK without google.

Perhaps, yet that is a deflection, and not to the OP.

 

[JakeStarkey]

U. S. Conservatives demand that people be fired, and then put into bankruptcy from medical crises. That is why they are for premiums going up, while coverage comes down: Year After years. That is called a "Free Market," according to Conservatives.

So The Democrats responded with ObamaCare, so that Americans would always have a colored man's health plan around.

The English managed to get their plan done, way ahead of any of that. So did Canada, so did most of Europe. In fact, worldwide. . . . .it was probably bound to happen way ahead of that!

"Crow, James Crow: Shaken, Not Stirred!"
(Ostrich run like devil possessed, only to bury head in the earth. . . .awaiting whatever comes next(?). . . .Maybe Great Papa Ostrich(?). . .of Manly. . . .orientation(?). . . .hoping others wait(?)!)

Look man... you're in here with your partisan hack bull shit socialist line of crap trying to blame conservatives and no one is buying it. There isn't one single solitary example on earth of a socialist society that was successful. Not ONE! You're bating zero rectum breath.

Tell you anything Einstein? Get a fucking clue moron.

Sweden, Denmark, hmmm?

You can't redefine historical narrative.

 

[JakeStarkey]

The bolded is only part of it. Frank failed, of course, to bold "reaching an agreement on raising revenues "

Reform of programs, including defense as well as entitlements, and raising revenue are all part of the requirement.

The major parties will need to compromise while ignoring the miniscule nutterings such as Frank's.