Merged Credit downgrade threads

[Zoom-boing]

Here is the problem Toro.

If we let the Bush Tax Cuts expire, Congress will simply spend it expanding this government program or that pet project...we'll see that money wasted and we'll STILL see the debt expand 3.5 trillion dollars.

Cut the spending.

Balance the budget.

Put a plan on the table to cut entitlement spending.

Then we'll talk about raising taxes.

^^ This. Exactly what needs to be done. Period.

You want to cut the defense budget by 40%?

If that's what it takes, yes.

 

[J.E.D]

Condoleezza Rice - when only AAA will do.



"Condoleezza Rice for President in 2012. Join this group of supporters from everywhere on the world wide web."

Rice for President Yahoo Group
http://groups.yahoo.com/group/rice-for-president/

One of the most gifted Americans on the planet... Condi Rice. I would vote for her in a heartbeat. And, if we could tempt Colin Powell out as VP, we'd have my dream ticket.

Rice is an embarrassment to the US. Most incompetent Sect of State. She couldn't win, and she doesn't deserve to even be considered.

 

[hellofromwarsaw]

Screw the ex-head of the CBO, now a Pub lobbyist...

 

[Sactowndog]

Spending is also at 25% GDP
When it has been historically around 20%

We have a spending problem not a tax problem

Gov't is addicted to spending and it appears we just got our first "intervention" by way of S&P.

No reasonable person has said we don't have a spending problem. But the problem is not is discretionary domestic spending the problem is in entitlements.

Unfortunately there are too many unreasonable people on the far left (led by Pelosi) who think we just have a revenue problem and too many unreasonable people on the right (led by Boehner) who think we just have spending problem.

The reality is we have both or we would not be so phucking far in debt. If this were my household budget you would be damm sure I would be cutting spending and telling my wife to get a job. This doesn't take more than a college degree to figure out but that is a high bar for many on the right.

 

[Avorysuds]

Here is the problem Toro.

If we let the Bush Tax Cuts expire, Congress will simply spend it expanding this government program or that pet project...we'll see that money wasted and we'll STILL see the debt expand 3.5 trillion dollars.

Cut the spending.

Balance the budget.

Put a plan on the table to cut entitlement spending.

Then we'll talk about raising taxes.

^^ This. Exactly what needs to be done. Period.

You want to cut the defense budget by 40%?

Currently the only people in congress that even talk and vote on cutting military is the TP... 4 years of Dems in control and they did not even try to cut military spending, in fact they spent more and more.

It's funny how much people have sold themselves out to parties being when you really look at it their party does not even come close to representing their (your) views when they have absolute power.

 

[Sactowndog]

You are not listening.

Show me you are serious about reducing spending.

Cut spending.

Balance a budget.

Show me that the tax increase will go toward paying down the debt.

I'll support that...I'll happily support tax increases on not just the rich but MYSELF that go toward paying down the debt.

After Washington proves their serious.

But I'm not going to give politicians one more blank check to spend frivolously.

No you are not listening or thinking. With Revenue at 14% of GDP you can't balance the budget without increasing revenue. Especially if you don't intend to touch defense as has been the position of the Republicans.

They had a deal possible to address Medicare and to get there they had to agree to close tax loopholes. But the Republicans rejected it. Royally stupid

 

[Missourian]

^^ This. Exactly what needs to be done. Period.

You want to cut the defense budget by 40%?

Currently the only people in congress that even talk and vote on cutting military is the TP... 4 years of Dems in control and they did not even try to cut military spending, in fact they spent more and more.

It's funny how much people have sold themselves out to parties being when you really look at it their party does not even come close to representing their (your) views when they have absolute power.

Same thing can be said when the Republicans held absolute power...instead of developing a plan to curb entitlement spending...they created a new entitlement...Medicare part D.

EDIT - I wasn't sold on the Tea Party until quite recently...but they seem to be the only ones who are serious about making the tough and unpopular decisions.

 

[Oddball]

Spending is also at 25% GDP
When it has been historically around 20%

We have a spending problem not a tax problem

Gov't is addicted to spending and it appears we just got our first "intervention" by way of S&P.

No reasonable person has said we don't have a spending problem. But the problem is not is discretionary domestic spending the problem is in entitlements.

Unfortunately there are too many unreasonable people on the far left (led by Pelosi) who think we just have a revenue problem and too many unreasonable people on the right (led by Boehner) who think we just have spending problem.

The reality is we have both or we would not be so phucking far in debt. If this were my household budget you would be damm sure I would be cutting spending and telling my wife to get a job. This doesn't take more than a college degree to figure out but that is a high bar for many on the right.

The feds are taking in $200 billion a month, way more than enough to pay all the bills.

The singular problem is profligate spending...Period.

 

[Avorysuds]

You want to cut the defense budget by 40%?

Currently the only people in congress that even talk and vote on cutting military is the TP... 4 years of Dems in control and they did not even try to cut military spending, in fact they spent more and more.

It's funny how much people have sold themselves out to parties being when you really look at it their party does not even come close to representing their (your) views when they have absolute power.

Same thing can be said when the Republicans held absolute power...instead of developing a plan to curb entitlement spending...they created a new entitlement...Medicare part D.

Yes, the Rep congress under Busha nd even mant of the noobs in congress today vote 100% the same as Democrats, they just talk different. 0 repeal but very possible expansions on things they once claimed were the problem policies.

Republicans = Big Government all the way around

Democrats = Big Government all the way around

 

[BDBoop]

The debt was created by the Bush tax cuts, a trillion dollar unfunded Bush drug program, and two unfunded useless wars that Bush started.

But carry on with your delusion.

I don't think they are actually capable of NOT "carrying on" with their delusions. Medical intervention would be necessary.

 

[Sactowndog]

Here is how we get our AAA rating back.

Cut spending.
Raise taxes.

Anyone who says "We can't do it by cutting SS or Medicare" or "We can't do it by raising taxes," you are a reason why we are at AA+ this morning.

We were downgraded not because of the politicians but because of the people. If the people had told them to get our house in order, then we would have. But that's not what happened. We had stridently ideological people on both sides responding to their stridently ideological bases who want fealty to their strident ideology before the fiscal health of the nation.

Exactly but more succinctly

Cut entitlements
(Domestic discretionary spending is already very low, probably so low it is hurting the economy. We have to invest in infrastructure)
Raise revenue via closing loopholes and tax reform
(Corporate tax rates are already way too high, Personal income tax rates when combined with payroll taxes are high, capital gains is too low and too many loopholes)

 

[Oddball]

In 2006, Obama told us that raising the debt was a sign of "Failed Leadership" Under the leadership of Obama and the hyperdrive spending of the Democrat Congress, we have not only lost our AAA credit rating, but we also learn that Social Security benefits cannot be paid unless we're able to borrow more.

Obama was presently with a sane, adult plan to lead us back to fiscal sanity, he rejected it. His one and only goal was the unfettered ability to borrow until the end of his one and only term. The Capital Market reacted swiftly as did S&P.

He got that, and we got downgraded. We have a Failed Leader as POTUS. Obama, the Downgraded President.

The debt was created by the Bush tax cuts, a trillion dollar unfunded Bush drug program, and two unfunded useless wars that Bush started.

But carry on with your delusion.

Right...And the demographic trend that's going to train wreck entitlements (which has been on track for decades), the failure to end those wars ( in fact escalating them), a new $1 trillion entitlement, and another $3 trillion in debt piled upon that heap by the Boiking has absolutely nothing to do with anything.

Speaking of delusional.

 

[LibocalypseNow]

Another new Historic Low for this President and Democrats. What a mess.

 

[Neotrotsky]

Another new Historic Low for this President and Democrats. What a mess.

after the downgrade can you really trust what the Left says about finances and the economy
For example PapaObama Care was going to instantly create 400,000 jobs



[ame=http://www.youtube.com/watch?v=pNiLYEiFUMU]‪Obamacare will create 400,000 jobs ALMOST IMMEDIATELY, says Choppy Hands McBotox‬‏ - YouTube[/ame]

 

[Sactowndog]

Simpson-Bowles was the framework for a good plan.

But the President rejected it.

I completely agree and it was a bad move on his part at the time.

But the gang of six plan was modeled after Simpson-Bowles and the President was clear he would sign it. It was House Republicans who killed it. The majority of the Senate was behind the Gang of 6 plan.

As you know, I don't think either plan will help us out of the current economic mess which is
A) largely based on a declining middle class and middle class tax base
B) resulting from the significant rise of multinational off-shoring activity
C) enabled by trans-oceanic fiber optic cables lowering overseas communication costs
D) and the significant increase in global stock markets

Ultimately we have to completely redo our tax structure to address this situation or we will continue to be in trouble. I think you know my belief which you have yet to comment on...

* Eliminate Corporate income taxes
* Tax capital gains at the level on income
* Institute a tax on Corporate cash flow off-shored.

 

[CrusaderFrank]

Progressives continue driving the US economy off the cliff

 

[Sactowndog]

Both parties are to blame. Just like Republicans were grossly irresponsible for saying that taxes were off the table, so was the administration for saying that the health care plan was also off the table. Both should be on the table.

I think Obama is right. Misunderstood but right. Medicare should be on the table but eliminating Obamacare should not.

When you compare/benchmark the where the US spends it money compared to other countries 2 area jump out. 1 is defense which everyone is aware of. The other is healthcare where the US spends 1.8 times the next closest country. If we are going to fix the country part of the fix has to be reforming our broken health care system.

Should it have been open to fixes to bring down costs? Absolutely but that is not what Republicans want to do. They want to go back to the existing broken system and that can't happen.

 

[Neotrotsky]

PapaObama Care is a boondoggle around the neck of American businesses

Republicans have better plans



[ame=http://www.youtube.com/watch?v=RwtiZkN2jps]‪The REAL Agenda Project America The Beautiful‬‏ - YouTube[/ame]

 

[Oddball]

Republicans have a better plans

So they say.

Unfortunately, they never ever follow through with them.

They campaign like libertarians and govern like socialists.

 

[Neotrotsky]

Republicans have a better plans

So they say.

Unfortunately, they never ever follow through with them.

They campaign like libertarians and govern like socialists.

Very true

the RINO's tend to raise their ugly heads just
in time to save the "statist day"