Merged Credit downgrade threads

[Remodeling Maidiac]

Reports are putting out the text of the S&P downgrade to include the following kinds of lanaguage:

"&P also changed its assumption that the 2001 and 2003 tax cuts would expire by the end of 2012' because the majority of Republicans in Congress continue to resist any measure that would raise revenues.'"

“'More broadly, the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating,'” S&P said.

The first paragraph is not being widely reported. The second is being widely reportedly.

S&P directly blames the Republicans for the downgrade.

"Crow, James Crow: Shaken, Not Stirred!"
(In Kinder, Gentler Nation: S&P though hight highly of adjustable rate mortgage values! White Eyes know differences in value of paper(?)!)

No wonder you got no rep in 2 years. Truly an idiot. S&P said the main concern was our over burdening debt and lack of plans to deal with it.

Deal with that. The blame belongs to both parties fool

 

[Dot Com]

The downgrade was a result of Boehner walking out of a big ($4 trillion) deal. Nice going Boehner

 

[Full-Auto]

The downgrade was a result of Boehner walking out of a big ($4 trillion) deal. Nice going Boehner

Then you guys shouldnt have changed the deal at the last minute. You would have had revenue.

 

[JakeStarkey]

Boehner had a real chance to defuse Obama's 2012 campaign with that deal, but he refused it because of the Tea Pots, and now Obama is striding through broken pottage into the campaign in full stride. This is what happens when you let those fools on the far right dominate policy. He will campaign the GOP only cares about protecting the rich from taxation.

 

[Google]

S&P made it clear several times that the main driving force behind a downgrade was the debt, deficit spending, and glacial economic growth.

S&P: Deficit cuts of $4 trillion a good start | Reuters

(Reuters) - Cutting the U.S. deficit by some $4 trillion over 10 years would be a good start, but more savings would be needed over time to bring the country's finances under control, ratings agency Standard & Poor's said on Thursday.

 

[Dot Com]

Dems had their chance in 2008 and then blew it.

Pubs had their chance in 2010 and then blew it.

Next year's election is going to be a hoot.

Agreed. A lot of unemployed policemen, teachers, and firemen will be voting

 

[eagleseven]

Dems had their chance in 2008 and then blew it.

Pubs had their chance in 2010 and then blew it.

Next year's election is going to be a hoot.

Agreed. A lot of unemployed policemen, teachers, and firemen will be voting

2012: Unemployed Public Employees vs. Unemployed Private Employees?

 

[Dot Com]

Boehner had a real chance to defuse Obama's 2012 campaign with that deal, but he refused it because of the Tea Pots, and now Obama is striding through broken pottage into the campaign in full stride. This is what happens when you let those fools on the far right dominate policy. He will campaign the GOP only cares about protecting the rich from taxation.

Agreed. Anyone can cut but it takes a bit more than that to govern.

 

[Google]

Boehner had a real chance to defuse Obama's 2012 campaign with that deal, but he refused it because of the Tea Pots, and now Obama is striding through broken pottage into the campaign in full stride. This is what happens when you let those fools on the far right dominate policy.

Obama has defused his own chances at re-election.

For two years the Democrats held a super majority over Congress. During that time they had the opportunity to pass a budget and ensure that this debate over the debt ceiling would not occur.

At what point is it Obama's fault? After two years of having complete control over the federal government, during which time spending quadrupled, the economy is in a stand still.

If you believe that this has helped Obama, you are delusional. Wait till the polls come out.

 

[Trajan]

Boehner had a real chance to defuse Obama's 2012 campaign with that deal, but he refused it because of the Tea Pots, and now Obama is striding through broken pottage into the campaign in full stride. This is what happens when you let those fools on the far right dominate policy.

Obama has defused his own chances at re-election.

For two years the Democrats held a super majority over Congress. During that time they had the opportunity to pass a budget and ensure that this debate over the debt ceiling would not occur.

At what point is it Obama's fault? After two years of having complete control over the federal government, during which time spending quadrupled, the economy is in a stand still.

If you believe that this has helped Obama, you are delusional. Wait till the polls come out.

well, to be fair they had a supra majority for 9 months...but anyway, your point is apt. they also could have held bushs feet to the fire too, but,....


in any event DC is dysfunctional. all of them.

 

[BDBoop]

You know less about the economy than my cat does. The rating was lowered because congress didnt go far enough to stabilize finances.
Like I said this is 100% Republicans fault. You can bitch whine and moan in your little "bubble world". But in the REAL world we have actually RULES. And republi-tards screwed the pooch..... and America buy not raising taxes on the wealthy.

I know this might hurt and shatter your desire to just watch and listen to BS like Douche Hannity but you should actually READ what the S&P said:

...the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

Ya see Republicans got what THEY wanted but the Democrats didnt get a take hike on the wealthy. They didnt COMPROMISE.
Instead they played a bullshit game JUST like what YOURE doing. And in turn they FUCKED AMERICA!

http://thinkprogress.org/economy/20...y-repeatedly-cites-gop-intrasigence-on-taxes/

Exactly. I read this and thought wow. Bittersweet vindication.

[...]The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

[...]It appears that for now, new revenues have dropped down on the menu of policy options.
[...]The act contains no measures to raise taxes or otherwise enhance revenues,
though the committee could recommend them.

[...]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.

I'm glad they did it, and I'm glad they explained why. Cause and effect, people. You can show your ass from now til doomsday, but somebody is going to call you on your shit.

 

[Dot Com]

Boehner had a real chance to defuse Obama's 2012 campaign with that deal, but he refused it because of the Tea Pots, and now Obama is striding through broken pottage into the campaign in full stride. This is what happens when you let those fools on the far right dominate policy.

Obama has defused his own chances at re-election.

For two years the Democrats held a super majority over Congress. During that time they had the opportunity to pass a budget and ensure that this debate over the debt ceiling would not occur.

At what point is it Obama's fault? After two years of having complete control over the federal government, during which time spending quadrupled, the economy is in a stand still.

If you believe that this has helped Obama, you are delusional. Wait till the polls come out.

Don't be disingenuous. The Repubs were stone-walling at every opportunity and slowing the process to a crawl. Nice try though

 

[Remodeling Maidiac]

I know this might hurt and shatter your desire to just watch and listen to BS like Douche Hannity but you should actually READ what the S&P said:

...the downgrade reflects our view that the effectiveness, stability, and predictability of American policymaking and political institutions have weakened at a time of ongoing fiscal and economic challenges to a degree more than we envisioned when we assigned a negative outlook to the rating on April 18, 2011.

Since then, we have changed our view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

Ya see Republicans got what THEY wanted but the Democrats didnt get a take hike on the wealthy. They didnt COMPROMISE.
Instead they played a bullshit game JUST like what YOURE doing. And in turn they FUCKED AMERICA!

Exactly. I read this and thought wow. Bittersweet vindication.

[...]The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

[...]It appears that for now, new revenues have dropped down on the menu of policy options.
[...]The act contains no measures to raise taxes or otherwise enhance revenues,
though the committee could recommend them.

[...]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.

I'm glad they did it, and I'm glad they explained why. Cause and effect, people. You can show your ass from now til doomsday, but somebody is going to call you on your shit.

You are a class act idiot. A fool of unimaginable size. Your glad they downgraded us? Do you have any idea what this will cost the American people in hard earned dollars. Fools like you should be forbidden from reproducing.

 

[Full-Auto]

Boehner had a real chance to defuse Obama's 2012 campaign with that deal, but he refused it because of the Tea Pots, and now Obama is striding through broken pottage into the campaign in full stride. This is what happens when you let those fools on the far right dominate policy.

Obama has defused his own chances at re-election.

For two years the Democrats held a super majority over Congress. During that time they had the opportunity to pass a budget and ensure that this debate over the debt ceiling would not occur.

At what point is it Obama's fault? After two years of having complete control over the federal government, during which time spending quadrupled, the economy is in a stand still.

If you believe that this has helped Obama, you are delusional. Wait till the polls come out.

Don't be disingenuous. The Repubs were stone-walling at every opportunity and slowing the process to a crawl. Nice try though

Regulation regulation regulation.

Stupid is as stupid does.

 

[Liberty]

this is what the democrats and non-tea party republicans get for voting to hack at the branches of the problem rather than the trunk. Oh, and grats Obama for being the first president in 70 years to oversee a financial catastrophe. well done

 

[The_GiantNoodle]

This puts Obama in a hard place...he has two options:

1. Accept responsibility, like an adult, by admitting failure.

2. Blame the Republicans, demonstrating that he lacks the ability to control a minority party in time of crisis.

You dont understand this subject. I can tell. Let me help you too.....

Let me explain why this wouldnt have happened IF the congress raised taxes on the wealthy.....
What did Boehner say he got? 98% of what REPUBLICANS wanted.
Now why did the S&P lower the credit rating?
Because the REPUBLICANS GOT WHAT THEY WANTED!
And the Dems DIDNT!
Now..... go back and read WHY the S&P lowered the credit rating:
view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

If you cant understand this simple, direct stuff, then youre just lost.
​

 

[BDBoop]

Obama has defused his own chances at re-election.

For two years the Democrats held a super majority over Congress. During that time they had the opportunity to pass a budget and ensure that this debate over the debt ceiling would not occur.

At what point is it Obama's fault? After two years of having complete control over the federal government, during which time spending quadrupled, the economy is in a stand still.

Allow me to repeat myself, with bold red writing.

[...]The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

[...]It appears that for now, new revenues have dropped down on the menu of policy options.
[...]The act contains no measures to raise taxes or otherwise enhance revenues,
though the committee could recommend them.

[...]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.

Better? Need your memory refreshed as to WHY taxes and revenues aren't being raised? Grover Norquist. Own that one, ya dumb fuck (talking to Grover, not you.)

 

[Full-Auto]

This puts Obama in a hard place...he has two options:

1. Accept responsibility, like an adult, by admitting failure.

2. Blame the Republicans, demonstrating that he lacks the ability to control a minority party in time of crisis.

You dont understand this subject. I can tell. Let me help you too.....

Let me explain why this wouldnt have happened IF the congress raised taxes on the wealthy.....
What did Boehner say he got? 98% of what REPUBLICANS wanted.
Now why did the S&P lower the credit rating?
Because the REPUBLICANS GOT WHAT THEY WANTED!
And the Dems DIDNT!
Now..... go back and read WHY the S&P lowered the credit rating:
view of the difficulties in bridging the gulf between the political parties over fiscal policy, which makes us pessimistic about the capacity of Congress and the Administration to be able to leverage their agreement this week into a broader fiscal consolidation plan that stabilizes the government's debt dynamics any time soon.

If you cant understand this simple, direct stuff, then youre just lost.
​

We appreciate you trying to pretend you understand.

However taxing the rich only produced 70 billion a year.

DOH!!!

 

[del]

I knew you'd come.
Thank you.

if i could come on command, i'd join the circus.

WTF! Does it pay well???

no, but the bennies rock

 

[Lakhota]

Maybe this downgrade will shock Congress into reality. Maybe not...