Moody's Issues a Warning About Giving A Warning

Discussion in 'Politics' started by jillian, Jun 3, 2011.

  1. jillian
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    jillian Princess Supporting Member

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    Seems Moody's is reviewing U.S. AAA rating if we default, even short term,...

    Moody

    seems to me that they care more about a short-term default ithan they are about immediate cuts. (and yes, i know they want the deficit to come down, too... as it should).

    but can someone who actually knows something about this subject explain to me how anyone is even considering not raising the debt ceiling?
     
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  2. California Girl
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    Mo chara, no one can explain it to you, because the answer will always be swayed by that person's political opinion. Even economists - and they are the ones who know the most about it - don't agree. When experts don't agree, that says there is no real fact based answer, it's too open to hypotheticals.

    I personally (under sufferance) would support raising the ceiling.... IF we cut one dollar from the spend for every dollar we raise it. That, to me, is the only way we can keep this under control.

    It is time to face facts, just like many other countries are doing, we simply cannot afford to be all things to all Americans. We cannot help everyone. We cannot save everyone's lives with Obamacare. A simple but hard decision lays ahead.
     
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  3. sparky
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    very true, although the means to that end are quite the debate.....
     
  4. jillian
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    jillian Princess Supporting Member

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    i agree in part. but i also think there are people who take a middle view and aren't nutbars on either side who can give perspective on this.

    it seems to me, and i'm not an expert, so why it isn't obvious to the people who need to make these decisions, is that we have no choice but to raise the debt ceiling. the undermining of the full faith and credit of the U.S. government for partisan purposes is unforgivable. To get things BACK in order where they were when Clinton was president should then, to my mind, require a combination of cuts and a return to our previous tax rates. But you can't cut without cutting military spending, too and just dump the painful parts on the middle class.

    I don't think it's rocket science. I'm not an economist, not a financier, and it seems like there isn't any other choice.
     
  5. sparky
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    sparky VIP Member

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    the crux of the problem is a capitalist system only sees in capitalist colors, and only has capitalist fixes Jill....
     
  6. California Girl
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    There really isn't another choice. Except for HOW we raise it. Do we allow politicians who have already proved to be incompetent at spending our money free reign to spend yet more without any kind of control? I would say no.

    If you gave your child a credit card - to use in emergencies - and that kid ran the card up to the limit, do you take the card away or raise the limit? If you raise the limit, and he maxes out that limit too, do you take the card away or raise the limit? If you raise the limit, and he maxes that out too, do you raise it again or take the card away? At some point, a dutiful parent will take that child in hand and teach it some financial responsibility.... namely, that you do not spend money you don't have, and you don't spend other people's money.

    That is basically what we have here. A bunch of kids who ran around - for decades - spending other people's money. At what point do we say 'enough is enough'? Because right now, your child, and your grandchildren will be paying off your debt. And that is not fair. Since it is the liberals who are obsessed with 'fair', why are you supporting such an unfair practice?

    Seriously, if they want the ceiling raised, then can we not insist that they cut a buck for every buck they want to raise? That would at least keep up vaguely in some control of it.
     
  7. Valerie
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    Valerie Gold Member

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    Two well informed articles...





     
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  8. BenNatuf
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    1. Moody's doesn't care a whit about whether we cut or increase spoending or leave it the same. I's none of their concern. The only concern they have is whether we pay our debts.

    2. Not raising the debt limit will not cause a default, using the money the government does take in for something other than servicing the debt will. The government takes in more than enough money to service the debt, they spend it on things other than servicing the debt. It's not raising the debt ceiling thats a problem, it's where the government chooses to spend the money it does take in.
     
  9. RetiredGySgt
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    The political problem is that the Democrats have proven just recently they are not interested in lowering the deficit. Obama keeps asking for trillions in his budgets and the democrats had a shit fit over 60 billion in what was actually no cut at all.

    Obama keeps submitting budgets for 3 trillion dollars. We simply can't afford that. The democrats are opposed to every cut the republicans bring up.

    My personal opinion is that the only way to get the dems to even consider cuts is to not approve a debt ceiling raise until the commit in good faith to cut the Budget. In real programs and real dollars, no promises of later or next year or not that program.
     
  10. Valerie
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    Valerie Gold Member

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    I think they should raise it in the short term and then go to work on reforming it for the long term...


     

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