Obama Bankrupting US so Bad, S&P may lower Bond Rating even with Debt Increase

Discussion in 'Politics' started by Neotrotsky, Jul 17, 2011.

  1. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Bloomberg:

    A 50 percent likelihood that the U.S. will lose its top credit rating from Standard & Poor’s even if Congress reaches agreement on raising the debt ceiling left markets little changed.

    ...The U.S. will lose the AAA credit rating it has held since 1941 if New York-based S&P finds that a “credible solution” to the nation’s rising debt burden isn’t likely for the foreseeable future, the firm said yesterday. Borrowing will continue to rise unless a $4 trillion fiscal consolidation plan is agreed on, S&P said.


    TIP: Ace of Spades
    Liberals treat raising the debt limit as if, with the stroke of a pen, we can simply authorize ourselves to spend and spend and spend more money than we have.


    Doug Ross
    Let's liken the United States to the following household -- we'll call it the Obama family.

    • The household brings in $100,000 a year.
    • The household's annual spending, however, is $160,000, so it's been forced to borrow heavily to cover those bill
    • When Daddy Obama began running the household in 2009, it had accumulated about $300,000 in debt.
    • But only two-and-a-half short years later, the Obamas are now in debt for $520,000.

    Now, in the real world, would any banker loan the Obamas money with a $60,000-a-year budget shortfall?

    What would its FICO score (credit rating) be?

    It's true: under Barack Obama, we're a subprime country. He and the Democrats built an unaffordable, failed "Stimulus" program into the baseline budget. And he is bankrupting the U.S., debt ceiling or no.
     
    Last edited: Jul 17, 2011
  2. midcan5
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    midcan5 liberal / progressive

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    I'm always amazed at how many people where born yesterday or since Obama was elected. This is so amazing as history started from scratch two and half years ago and all before it had no effect. Just simply amazing.

    "This is when the Republican Party set its trap. Meeting in closed sessions at the beginning of the Obama regime, the party of tax cuts for the rich, unfunded wars, and the largest deficit in the history of the country redefined itself. It suddenly became the party of deficit reduction through lean government joined to supreme confidence in unregulated financial and corporate markets. It even opposed the bail out of General Motors and Chrysler, though these actions stopped unemployment from reaching a dangerous tipping point, allowed the two companies time to reconstruct themselves, and enabled them to pay back the loans within two years–-creating one of the most successful bailouts in the history of Euro-American economic life." The Contemporary Condition: The Republican Pincer Machine
     
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  3. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    History of course not....It is the current rate of spending that is hurting us
    Speaking of History

    a budget submitted by Obama would add more to the debt than the outstanding debt of the previous 43 presidents combined.

    Barack Obama and Democrats also added over One Trillion Dollars to the Federal Budget in the last 4 years.

    [​IMG]

    That’s at least a 30% increase in federal spending in just 3 years.


    Were do people get these crazy ideas that Papa Obama and the Left spends too much?

    [ame=http://www.youtube.com/watch?v=DsrFa9jrpv8]‪Child's Pay 2‬‏ - YouTube[/ame]
     
    Last edited: Jul 17, 2011
  4. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    We started with a surplus in 2001.

    Or are you forgetting that?
     
  5. WillowTree
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    WillowTree Diamond Member

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    Here comes the surplus lie to the surface. I guess they think if they say it often enough it will come true.. NOT.. why do so many dimwits hate America?
     
  6. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    On the annual budget no, we still had outstanding debt

    Bush still spent less are you forgetting that


    Under President Obama, government will spend more on welfare in a single year than President George W. Bush spent on the war in Iraq during his entire presidency. According to the Congressional Research Service, the cost of the Iraq war through the end of the Bush Administration was around $622 billion. By contrast, annual federal and state means-tested welfare spending will reach $888 billion in FY 2010. Federal welfare spending alone will equal $697 billion in that year.​
     
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    Last edited: Jul 17, 2011
  7. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    It is all part the enchanted world of

    Never Never Blame Obama Land
    [​IMG]
     
  8. The Rabbi
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    The Rabbi Diamond Member

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    Thanks to the GOP Congress.
    But what does that have to do with the Democratic COngress and Obama spending us into insolvency?
    I guess Joe BIden was wrong: We cannot spend to avoid bankruptcy.
    [ame=http://www.youtube.com/watch?v=LHFEcyUNBjg]‪Biden: We Have To Spend Money To Keep From Going Bankrupt‬‏ - YouTube[/ame]
     
  9. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    ouch!
     
  10. WillowTree
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    WillowTree Diamond Member

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    the very best thing that can happen to the United States is to lose it's triple A... we need to stop borrowing and we need to stop spending. We need to concentrate on getting debt free. It will be a bitter pill but one we have to swallow.
     

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