The Hill: S&P credit rating analysis values spending cuts more than tax revenue

Discussion in 'Politics' started by Neotrotsky, Aug 7, 2011.

  1. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Hill: S&P credit rating analysis values spending cuts more than tax revenue

    As long as the Left has majority control and refuses to put all entitlements on the table, even PapaObama Care, this will not happen.




    The decision by Standard & Poor's to downgrade the U.S. credit rating to "AA+" at once laments the possibility that cuts to entitlement programs will not materialize and the decreasing likelihood of new tax revenues. But it appears to give more weight to the need for more spending cuts, as it warns that a further credit rating downgrade is in the cards if the U.S. does not trim spending.

    In contrast, while the report indicates that new tax revenues would help mitigate the debt crisis, failing to find these revenues does not immediately put the U.S. at risk of another downgrade.

    Specifically, the report warns directly that a further downgrade to "AA" status could occur within the next two years if there is "less reduction in spending"
     
  2. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "Dat's right, it's all dem Tea Partiers fault - while the country was founderin', dey was takin' a tea break...
    :eusa_eh:
    'Tea Party downgrade' on lips of many Dems
    WASHINGTON, Aug. 7 (UPI) -- A former presidential adviser and several Democrats Sunday blamed the U.S. economic downgrade on Tea Party activists in Congress.
     
  3. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Once that line of attack fails,
    the left will have to pull the race card
    out on this one.

    Indeed, why once S&P the only one to do this ?
    What do they have against a black president?

    Sounds funny, but it is out there
     
  4. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    I think I'm going to have a heart attack and die from this surprise. That's seriously how surprised I am.

    I mean who on earth would have thought that fixing our spending problem would matter more to them than raising taxes? I mean other than anyone who understands how to budget and even alittle about debt, of course.

    It's amazing how, as predicted, our super great bipartisan compromise did nothing to fix the spending problem, isn't it? I mean despite raising the debt ceiling our credit rating still went down. It couldn't possibly be because those Tea Party members were correct and we actually have to cut spending could it?

    After all, The Tea party supposedly won that compromise by getting absolutely nothing. So clearly their desire for real spending cuts couldn't have fixed this problem.

    Is anyone who actually wants to fix our nations problems still actually think that spending more money is what we need to do? Or are all the people who want to fix our problems all in agreement now that we need to cut spending?
     
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  5. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Big words from a small man like you


    Of course, I am partisan to political beliefs not party.
    I have never claimed to be or not.

    It is more honest than some
    who pretend to be balanced
    and really are not
    :eusa_whistle:
     
    Last edited: Aug 8, 2011
  6. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    With the Left keeping entitlement programs like Papa ObamaCare off the table
    don't expect any serious reform from them

    More short term- getting spending back down to the historical levels of 20%of GOP
    from the increased levels of 25% that the Left has taken it to, should be easy; but
    it won't last forever.

    Upcoming Entitlement cost is where the real cost lies and the real battle

    It is further complicated by the fact that the Left needs these programs
    as gov't run institutions only, to keep their power
    Which means the only way to keep some of these Ponzi programs
    going is to cut benefits and/or raise taxes, dramatically. One can forget any real
    reform when it comes to collecting and distributing the funds from these
    programs.

    Giving more power and control back to people over their
    own funds is the last thing any statist wants.
    That would mean you would need the politician less,
    we can't have that now can we....
     
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  7. mudwhistle
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    mudwhistle Diamond Member

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    Raising the debt-ceiling is why they downgraded us and the Tea Party didn't want the ceiling raised.

    What's so hard to understand. When you owe more and refuse to deal with it you lose trust.

    Btw, who has been whining about raising the debt-ceiling since Nov of last year???

    It's funny that the White House and their fuzzy math is claiming the S&P made a math mistake.

    So the White House blames everyone but themselves calling the S&P fuckups and calls this "The Tea Party Downgrade".

    At least that is the rumor they're desperately trying to circulate....ala Cass Sunstein's favorite governmental tool....Availability Cascades.

    Availability Cascades - Repeating a lie over and over till it becomes accepted fact.
     
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    Last edited: Aug 8, 2011
  8. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Papa Obama has not made an official statement yet.

    It appears that the demands of golf are keeping him busy at the moment.

    Of course, attack the messenger!
    I am sure it will only be a matter of time
    before the left makes the claim of racism

    After all, S&P was the only group to lower us
     
    Last edited: Aug 8, 2011
  9. mudwhistle
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    mudwhistle Diamond Member

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    Obama inherited a AAA credit rating from Bush and he's lost it.
     
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  10. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    Yes
    but it will be Bush's fault

    After things like this below
    it is a wonder anyone can take the left serious on anything to do
    with finance. The gov't has done such a poor job and yet
    the Left can not get enough

    Obamacare will create 400,000 jobs ALMOST IMMEDIATELY
    [ame=http://www.youtube.com/watch?v=pNiLYEiFUMU]‪Obamacare will create 400,000 jobs ALMOST IMMEDIATELY, says Choppy Hands McBotox‬‏ - YouTube[/ame]
     
    Last edited: Aug 8, 2011

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