If S&P Downgrades America's Credit Rating, Which Political Party Will Americans Blame

[Mustang]

I won't go into the long history. Just recent history.

Conservatives were warned. But did they listen? Do they ever listen?

No, THEY knew best. They just HAD to take the whole debt ceiling vote right to the brink, didn't they?

If this credit downgrade happens, It will be interesting to see how both the public and the GOP reacts to the news.

Govt officials: US expecting S&P downgrade

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.

Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.

Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive it’s going to happen, and if it does happen officials are not sure when it will happen.


http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

 

[kyzr]

What part of:
1. The projected SIZE of the Debt is the problem, not the attempts to reduce it
2. The ratings agencies wanted at LEAST $4-trillion cut from the Budget to keep the AAA
3. There is no other currency anywhere near the size and quality of the US, so it won't be downgraded below investment grade
4. Medicare will be bankrupt in 2017, so unless entitlements are cut, the US economy collapses
5. If a downgrade happens it can be undone with fiscal sanity

The best way out of this mess is to grow out of it. However, the stock market is a rigged game. The short-sellers just take everyone's 401K investments that would grow the economy. I want the GOP/DEMs to eliminate short-sales and derivatives. Only options are to BUY a stock or to SELL a stock you own. The feeding frenzy in the stock market by Hedge Funds needs to stop or no one will buy any stock, and the system collapses.

 

[Avorysuds]

Democrats, they hold most (by far) the most power and have had 4 full years in Congress to turn things around. If this all happened 3 years ago prolly the Republicans. Well, no we are near 5 years of Dems in the vast Majority of power.

 

[Trajan]

I won't go into the long history. Just recent history.

Conservatives were warned. But did they listen? Do they ever listen?

No, THEY knew best. They just HAD to take the whole debt ceiling vote right to the brink, didn't they?

If this credit downgrade happens, It will be interesting to see how both the public and the GOP reacts to the news.

Govt officials: US expecting S&P downgrade

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.

Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.

Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive it’s going to happen, and if it does happen officials are not sure when it will happen.


http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

they didn't take squat anywhere, this was all part of the plan , the plan in which harry and obama had a hand. if they had started negotiating back in april as part of the 2011 budget deal? Or back in Nov. before the change over of the House?

I am in no way excusing the reps. but saying they own this is BS.

 

[kyzr]

BOTH parties are full of Wall Street whores who make loop-holes for billionaires and screw the working class and retirees.

 

[BDBoop]

I won't go into the long history. Just recent history.

Conservatives were warned. But did they listen? Do they ever listen?

No, THEY knew best. They just HAD to take the whole debt ceiling vote right to the brink, didn't they?

If this credit downgrade happens, It will be interesting to see how both the public and the GOP reacts to the news.

Govt officials: US expecting S&P downgrade

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.

Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.

Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive it’s going to happen, and if it does happen officials are not sure when it will happen.


http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

Poll results will be skewed by the board population being predominantly neocon.

 

[kyzr]

I'm a neocon and I just voted GOP. IMHO the Dubya-Bush admin was horrid. It was not a conservative admin. It was a compassionate Liberal admin.

 

[Neotrotsky]

Obamanomics works!

 

[Oddball]

Poll results will be skewed by the board population being predominantly neocon.

You wouldn't know a neocon if it was crawling up your ass.

 

[Neotrotsky]

Who has been in charge?

Great liberal minds are hard at work
thinking on how to blame this on Bush

 

[Ringel05]

I won't go into the long history. Just recent history.

Conservatives were warned. But did they listen? Do they ever listen?

No, THEY knew best. They just HAD to take the whole debt ceiling vote right to the brink, didn't they?

If this credit downgrade happens, It will be interesting to see how both the public and the GOP reacts to the news.

Govt officials: US expecting S&P downgrade

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.

Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.

Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive it’s going to happen, and if it does happen officials are not sure when it will happen.


http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

Poll results will be skewed by the board population being predominantly neocon.

 

[CrusaderFrank]

Obama should be impeached for violating the 14th Amendment!!

Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

 

[Sactowndog]

I'm a neocon and I just voted GOP. IMHO the Dubya-Bush admin was horrid. It was not a conservative admin. It was a compassionate Liberal admin.

I totally blame the GOP. The made a friggen mountain out of this issue with no real plan to address it.

Revenue sits at 14% of GDP when historically it has been between 17% and 20%

Discretionary defense budgets are larger than the entire rest of the the discretionary budget. With the recent cuts discretionary spending will be at it's lowest level since the Dwight D. and below what it was under Clinton.

Yet, Republicans were unwilling to close huge loopholes than few reasonable people can defend. (see the hedge fund thread) They were unwilling to cut the defense budget. Their is no possible way to address the issue they created with the conditions they imposed. Especially with a Democratic Senator and President.

It was the stupidest piece of gamesmanship in the history of country done with the sole reason of trying to make Obama look bad. Instead they have damaged the country. I used to be registered Republican but what I think of them now is unprintable.

 

[theHawk]

I won't go into the long history. Just recent history.

Conservatives were warned. But did they listen? Do they ever listen?

No, THEY knew best. They just HAD to take the whole debt ceiling vote right to the brink, didn't they?

If this credit downgrade happens, It will be interesting to see how both the public and the GOP reacts to the news.

Govt officials: US expecting S&P downgrade

A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.

Official reasons given, he official says, will be the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction. A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

The official was unsure if the bond rating would be AA+ or AA.

Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive it’s going to happen, and if it does happen officials are not sure when it will happen.


http://blogs.abcnews.com/politicalpunch/2011/08/govt-official-us-expecting-sp-downgrade.html

Considering that fact that the Democrats have been in majority control of government since 2007 its a tad rediculous for anyone to blame Republicans, much less the Tea Party which is all about fiscal responsibility and has been fighting for drastic cuts in spending and reducing the debt.

We are at this point because our government only knew how to spend and spend, both Democrats and the old guard Republicans. No one has had the balls to address the real issue and that is entitlements. Both parties are scared shitless to make the necessary cuts in social security and medicare, because seniors will vote against them, and both parties want to win over that electorate in every election.

 

[Trajan]

I'm a neocon and I just voted GOP. IMHO the Dubya-Bush admin was horrid. It was not a conservative admin. It was a compassionate Liberal admin.

I totally blame the GOP. The made a friggen mountain out of this issue with no real plan to address it.

Revenue sits at 14% of GDP when historically it has been between 17% and 20%

Discretionary defense budgets are larger than the entire rest of the the discretionary budget. With the recent cuts discretionary spending will be at it's lowest level since the Dwight D. and below what it was under Clinton.

Yet, Republicans were unwilling to close huge loopholes than few reasonable people can defend. (see the hedge fund thread) They were unwilling to cut the defense budget. Their is no possible way to address the issue they created with the conditions they imposed. Especially with a Democratic Senator and President.

It was the stupidest piece of gamesmanship in the history of country done with the sole reason of trying to make Obama look bad. Instead they have damaged the country. I used to be registered Republican but what I think of them now is unprintable.

defense is not blowing a hole in the budget, if it were you would have a point. the fact that they have so far pared down 400 billion and dropped purchases' of necessary but very expensive equipment proves that def. is amendable to and has undergone changes/cuts. just becasue you wish to excuse mandatory spending doesn't mean it doesn't exist.

there is 300 billion cooked into the books for afghan and iraq for 2011 and 2012, , that to will drop, in 2020 or so when medicare goes belly up at its current rate, def. spending will mean bupkas.

 

[bripat9643]

Well based of the article id say the tea party since they didnt want.to raise any taxes. Fucktards.
The american people would be smart to shun the teaparty.

That's what government officials claimed, not S&P.

Of course they are going to blame Republicans. What don't they blame Republicans for?

 

[saveliberty]

Since the reasoning for the downgrade was not enough cuts in spending, the Democrats look like villians here.

Oh, and they already issued a warning about another downgrade if the current agreement is not followed or the economy gets worse.

It really is a no win for Democrats. Making the real cuts needed will not go over with the party loyal. Failure to cut will cause obvious and far reaching economic problems they will have to take responsibility for causing.

 

[bripat9643]

Since the reasoning for the downgrade was not enough cuts in spending, the Democrats look like villians here.

Oh, and they already issued a warning about another downgrade if the current agreement is not followed or the economy gets worse.

It really is a no win for Democrats. Making the real cuts needed will not go over with the party loyal. Failure to cut will cause obvious and far reaching economic problems they will have to take responsibility for causing.

It's fun watching them try to blame this disaster on everyone but themselves.

 

[Trajan]

Since the reasoning for the downgrade was not enough cuts in spending, the Democrats look like villians here.

Oh, and they already issued a warning about another downgrade if the current agreement is not followed or the economy gets worse.

It really is a no win for Democrats. Making the real cuts needed will not go over with the party loyal. Failure to cut will cause obvious and far reaching economic problems they will have to take responsibility for causing.

agreed; the reckoning is here, ( and in the EU too, hello) and, there are folks who will fight and kick and scream, they will not want to understand that the single largest driver is.....entitlements.

created for good reasons when things were good the ponzi scheme worked, but as with all ponzi schemes once the 'investors' start demanding their cash in increasing numbers...there just isn't enough new investors to replace the funds going out.

you can for a while raise taxs , BUT, that wasn't the plan , when SSI or medicare was created either, it was supposed to be sustained by INs from payroll taxs or actually mandated Premiums for the insurance, so you can increase taxs to create the appearance of solvency but....ask Madoff how that turned out.

As I said, the reckoning is here and it will not go down well, as we see. And even obama realized that increasing taxs in a poor econ. environment is not an answer. That has not changed.

 

[Neotrotsky]

With Downgrade, time to remove boondoggle of ObamaCare off the back of the US economy


Indeed,
with the Left mantra of "more tax more tax", they say PapaObama is off the table

Even CBO says PapoObama Care kills jobs

CBO Says ObamaCare Will Kill 800,000 Jobs
[ame=http://www.youtube.com/watch?v=Jskjci1ZL9Q]‪800,000 Jobs Gone: CBO Admits Health Care Law Will Kill Jobs‬‏ - YouTube[/ame]

Some studies have shown that PapaObama care is having a real impact on
killing jobs NOW

Analysis: Job Growth Was 10-Fold Higher Before the Democrats Passed Obamacare

“Private-sector job creation initially recovered from the recession at a normal rate, leading to predictions last year of a “Recovery Summer.” Since April 2010, however, net private-sector job creation has stalled. Within two months of the passage of Obamacare, the job market stopped improving. This suggests that businesses are not exaggerating when they tell pollsters that the new health care law is holding back hiring.”

Sherk writes that Obamacare “discourages employers from hiring in several ways: ​