Merged Credit downgrade threads

[Full-Auto]

multiple threads merged.

Thank you.

 

[del]

multiple threads merged.

Thank you.

you're welcome

 

[Avorysuds]

Let me just save everyone their breath and post what you're obviously going to post:

All the Democrats on the forum: It's Bush's fault!

All the Republicans on the forum: It's Obama's fault!

All the liberals on the forum: It's the Tea Party's fault!

All the conservatives on the forum: It's Satan's fault!

All the tea-party members on the forum: It's Obama's fault!

WilliamJoyce: U.S. Credit rating dropped--but duh, of course it was. What Black people do you know have good credit?

First I blame Obama/Senate/House... Second LOL at your joke at the end =D.

 

[NYcarbineer]

Here is what I truly don't understand about righties: Don't they know anything about economic history from the Great Depression?

Yes, spending didn't fix the great depression, why would it fix the great recession. Maybe you should look to the Depression of 1919 with Harding and his tax cuts and big spending cuts to understand how to cure a depression/Recession... Of course that only works, why you would ever want to fix the problem when you can win all sorts of meaningless points prolonging the problem.

Spending didn't fix the Great Depression if you reject the common wisdom that WWII brought us out of it.

 

[WillowTree]

this is a "satan sammich"

 

[Trajan]

Who has been in charge?

]

Since November of 2010, the GOP Congress. They got exactly the tax cut package in December by threatening to let all the taxes expire if they didn't, and that was a budget buster;

they got - according to Boehner - 98% of what they wanted in the debt ceiling bill - by threatening to financially destroy the country if they didn't.

sooooo that means since jan 07 till nov 2010 the dems were in charge...well, glad we got that straight.

 

[Trajan]

Back to reality, whats does this mean in practical terms?

 

[Patrick2]

Another miracle of obamanomics - wouldn't have happened except for his $6 trillion credit card spree. Still, the obambot lemmings march on in lock step, straight to the cliff.

 

[WillowTree]

Back to reality, whats does this mean in practical terms?

interest on the national debt is going up, which makes it harder to pay, dimocrats will keep spending through they buttholes though it makes no nevermind to them.

 

[eflatminor]

So let me get this straight: The administration and their flunkies in the press warned us that if we did not raise the debt limit, the stock market would crash and our debt would be downgraded, resulting in higher interest rates.

How's that working out for you now?

But it was I and my fellow Libertarians/Tea Party fiscal conservatives that were "radical" to suggest we live within our means.

The central planners are taking us right down the toilet.

 

[The_GiantNoodle]

They lowered it because congress didnt go far enough to shore up its finances. This is 100% on the fault of the Tea Party and Republicans. They needed to raise taxes on the wealthy and didnt. Now we have this!!!!!!!!!!!

 

[kyzr]

They have a point looking at the US finances. We borrow 43-cents of every dollar spent. That can't go on. Our Debt and interest payments will bury us if we don't tighten-up the Budget.

We have too much money going to short-sellers and off-shore accounts instead of capital investment here in the US creating jobs and expanding the economy. The recovery needs to start with an infusion of capital investment, and I'm not buying another stock until the short-sellers are reigned-in.

 

[WillowTree]

They lowered it because congress didnt go far enough to shore up its finances. This is 100% on the fault of the Tea Party and Republicans. They needed to raise taxes on the wealthy and didnt. Now we have this!!!!!!!!!!!

class warfare ain't going to save your sorry spending other people's money asshole.

 

[Avorysuds]

Here is what I truly don't understand about righties: Don't they know anything about economic history from the Great Depression?

Yes, spending didn't fix the great depression, why would it fix the great recession. Maybe you should look to the Depression of 1919 with Harding and his tax cuts and big spending cuts to understand how to cure a depression/Recession... Of course that only works, why you would ever want to fix the problem when you can win all sorts of meaningless points prolonging the problem.

Spending didn't fix the Great Depression if you reject the common wisdom that WWII brought us out of it.

You lost me... WWII brought us out of the great Depression not because of the spending but because near the rest of the world was destroyed outside of the Americas, putting massive demands on our goods... Also the repeal of a lot of FDR's policies AND tax cuts... Shocking.

 

[Full-Auto]

Back to reality, whats does this mean in practical terms?

INCREASED INTEREST RATES.

I dont think it will have much effect on already tight credit standards.

Makes it difficult for the government to borrow more.

Beyond that, buckle your seat belt.

 

[NYcarbineer]

Yes, spending didn't fix the great depression, why would it fix the great recession. Maybe you should look to the Depression of 1919 with Harding and his tax cuts and big spending cuts to understand how to cure a depression/Recession... Of course that only works, why you would ever want to fix the problem when you can win all sorts of meaningless points prolonging the problem.

Spending didn't fix the Great Depression if you reject the common wisdom that WWII brought us out of it.

You lost me... WWII brought us out of the great Depression not because of the spending but because near the rest of the world was destroyed outside of the Americas, putting massive demands on our goods... Also the repeal of a lot of FDR's policies AND tax cuts... Shocking.

Wrong. Demand CAUSED the spending. WWII was a massive borrow and spend Keynesian stimulus program.

 

[NYcarbineer]

Who has been in charge?

]

Since November of 2010, the GOP Congress. They got exactly the tax cut package in December by threatening to let all the taxes expire if they didn't, and that was a budget buster;

they got - according to Boehner - 98% of what they wanted in the debt ceiling bill - by threatening to financially destroy the country if they didn't.

sooooo that means since jan 07 till nov 2010 the dems were in charge...well, glad we got that straight.

No. The GOP Senate filibustered everything. I suppose the Democrats could have threatened to destroy the nation if they didn't get their way.

 

[WillowTree]

Don't ya just love those history making dimocrats. First time eveah under any president. evah.

 

[Avorysuds]

Who has been in charge?

]

Since November of 2010, the GOP Congress. They got exactly the tax cut package in December by threatening to let all the taxes expire if they didn't, and that was a budget buster;

they got - according to Boehner - 98% of what they wanted in the debt ceiling bill - by threatening to financially destroy the country if they didn't.

You do realize no one is going to buy that line of shit right?

 

[Full-Auto]

Don't ya just love those history making dimocrats. First time eveah under any president. evah.