U.S. may lose top credit rating soon, Moody's says

[NYcarbineer]

In 2003, with the country already in a budget deficit situation:

Bush started a SECOND war, the Republicans passed an extremely expensive Medicare drug bill, and,

as the topper, they cut taxes for the SECOND time in 3 years.

And not one conservative in a thousand bitched about it.

 

[NYcarbineer]

You seriously do not know what it means for the governement to go into default, do you?

It means a petulant Obama refused to do what is right for the American people.

Raising the debt ceiling is the responsibility of Congress.

 

[uscitizen]

hahahahahaha, Republicans have had SOME control since November, yet this ALL THEIR FAULT..

Liberals are becoming DESPERATE. But the American PEOPLE know the truth, that is why they elected Republicans in a HISTORIC November election..

come on folks... lets finish the JOB come 2012

If the Republicans are balking at raising the debt ceiling and we fail to make our payments on our loans, then our credit rating will be hurt. This will hurt the economy and will be the fault of the Republicans. That is the truth.

Why will this hurt our economy?

It will become more expensive for America to borrow money and thus, America will have to raise interest rates. If America raises interest rates, it will become more expensive for corporations to borrow money from banks and thus instead of borrowing money from a bank to create a new job, the corporation might even cut jobs to make more capital available in case sales go down. Thus jobs will be lost and if jobs are lost, people will stop spending and more corporations will go out of business.

If the debt ceiling, however; is raised, then none of the above will happen.

If the debt ceiling, however; is raised, then none of the above will happen.

It just delays the inevitable without major tax and spending reforms.

 

[uscitizen]

You seriously do not know what it means for the governement to go into default, do you?

It means a petulant Obama refused to do what is right for the American people.

Obama cannot raise the debt ceiling. You need to learn a bit more about how our govt is supposed to operate.

 

[KissMy]

I'm sick of this argument that not raising the debt limit is doing something to threaten the country's credit rating.

Think about it: Greece's debt, spread evenly to every family, would be a burden of $40,000. Here in America it would be $45,000, and the left and Obama want us to believe that not increasing that number to $50,000 would hurt the country's credit yeah right. 63% of Americans, over 50% on all polls, the plurality of America is against this president.

It is far worse than that. See: Debt Clock.
- Money printed in past 2 years for bailout & stimulus per Tax Payer = $18,000
- USA current debt per Citizen = $46,500
- USA current debt per Family = $176,571
- USA current debt per Tax Payer = $129,740
- USA Unfunded Liabilities per Tax Payer = $1,026,100

 

[Google]

<sigh>

Can't conservatives ever do ANYTHING (as in being involved in governance) without the result being a disaster or a disaster in the making?



http://www.bing.com/maps/?v=2&where1=NEW YORK&sty=h&form=msdate

Apparently not.

The Republicans want to destroy the American government, so that the criminal gangs of Wall Street and the extraction companies can rule over an impoverished and polluted landscape.

There is a lot of truth in that. However most rank and file republicans do not realize it.
they are just caught up in the ride and do not realize where their path leads.

Facts simply don't matter to the liberals on this board. Wall Street has prospered under this president and the Goldman Sacs connection is undeniable. Wall Street money favored Obama and is bank rolling this billion dollar campaign of his.

 

[DavidS]

In 2003, with the country already in a budget deficit situation:

Bush started a SECOND war, the Republicans passed an extremely expensive Medicare drug bill, and,

as the topper, they cut taxes for the SECOND time in 3 years.

And not one conservative in a thousand bitched about it.

Reagan cutting taxes by over 40% was a HUGE boost for the American economy.

Bush cutting taxes by over 3% did nothing for the economy.

Bush giving stimulus checks to American taxpayers on the other hand, provided a short term boost, but put the government further and further into debt.

The deficit was $5 trillion when Bush took office. $11 trillion when he left. $6 trillion in 8 years. Not bad. Obama is eclipsing that - not because he's increased spending, but because there is less income coming in. Americans are making less money, therefore, there's less tax revenue being generated. Raising taxes, like Reagan did, might help to close that gap for a short term and then lowering them again could provide an additional boost to the economy. The problem is that there are so many damned loopholes and write offs for corporations that $1 million gross could equal $10 net, which means nothing tax-wise.

 

[bripat9643]

Raising the debt ceiling is the responsibility of Congress.

So is cutting spending to balance the budget.

 

[Chris]

In 2003, with the country already in a budget deficit situation:

Bush started a SECOND war, the Republicans passed an extremely expensive Medicare drug bill, and,

as the topper, they cut taxes for the SECOND time in 3 years.

And not one conservative in a thousand bitched about it.

And then Bush's SEC let Wall Street run a $516 TRILLION DOLLAR derivative Ponzi scheme.

And NOW THE REPUBLICANS ARE GOING RUIN OUR ECONOMY AGAIN!!!!

 

[Chris]

Raising the debt ceiling is the responsibility of Congress.

So is cutting spending to balance the budget.

You can't pay a $13 trillion dollar debt just by cutting spending.

But thanks for playing...

 

[bripat9643]

You seriously do not know what it means for the governement to go into default, do you?

It means a petulant Obama refused to do what is right for the American people.

Obama cannot raise the debt ceiling. You need to learn a bit more about how our govt is supposed to operate.

Congress can't raise it either, moron.

You need to shut up so everyone won't learn what a numskull you are.

 

[Chris]

It means a petulant Obama refused to do what is right for the American people.

Obama cannot raise the debt ceiling. You need to learn a bit more about how our govt is supposed to operate.

Congress can't raise it either, moron.

You need to shut up so everyone won't learn what a numskull you are.

People who have no facts resort to insults.

 

[bripat9643]

Obama cannot raise the debt ceiling. You need to learn a bit more about how our govt is supposed to operate.

Congress can't raise it either, moron.

You need to shut up so everyone won't learn what a numskull you are.

People who have no facts resort to insults.

Telling me i need to learn how the government operates isn't an insult?

As i said previously, idiots like you should keep their mouths shut before everyone finds out how stupid you are.

 

[bripat9643]

You can't pay a $13 trillion dollar debt just by cutting spending.

But thanks for playing...

Yes you can, but you have to actually cut something.

 

[Chris]

Congress can't raise it either, moron.

You need to shut up so everyone won't learn what a numskull you are.

People who have no facts resort to insults.

Telling me i need to learn how the government operates isn't an insult?

As i said previously, idiots like you should keep their mouths shut before everyone finds out how stupid you are.

I am hardly an idiot.

And your avatar is borderline child abuse....

 

[uscitizen]

Apparently not.

The Republicans want to destroy the American government, so that the criminal gangs of Wall Street and the extraction companies can rule over an impoverished and polluted landscape.

There is a lot of truth in that. However most rank and file republicans do not realize it.
they are just caught up in the ride and do not realize where their path leads.

Facts simply don't matter to the liberals on this board. Wall Street has prospered under this president and the Goldman Sacs connection is undeniable. Wall Street money favored Obama and is bank rolling this billion dollar campaign of his.

Yes, and so did it under Bush and the right loved it.
Remember the right pushed for the GS bailout, aka TARP and it was passed under and endorsed strongly by Bush.
I am continually saying that Obama is a third Bush term and do not understand why the right does not love him?

 

[Chris]

There is a lot of truth in that. However most rank and file republicans do not realize it.
they are just caught up in the ride and do not realize where their path leads.

Facts simply don't matter to the liberals on this board. Wall Street has prospered under this president and the Goldman Sacs connection is undeniable. Wall Street money favored Obama and is bank rolling this billion dollar campaign of his.

Yes, and so did it under Bush and the right loved it.
Remember the right pushed for the GS bailout, aka TARP and it was passed under and endorsed strongly by Bush.
I am continually saying that Obama is a third Bush term and do not understand why the right does not love him?

Because he's half black....

 

[uscitizen]

Facts simply don't matter to the liberals on this board. Wall Street has prospered under this president and the Goldman Sacs connection is undeniable. Wall Street money favored Obama and is bank rolling this billion dollar campaign of his.

Yes, and so did it under Bush and the right loved it.
Remember the right pushed for the GS bailout, aka TARP and it was passed under and endorsed strongly by Bush.
I am continually saying that Obama is a third Bush term and do not understand why the right does not love him?

Because he's half black....

and technically belongs to the demoncrat party.

Blindly partisan sheeple fools...

 

[Flopper]

<sigh>

Can't conservatives ever do ANYTHING (as in being involved in governance) without the result being a disaster or a disaster in the making?



http://www.bing.com/maps/?v=2&where1=NEW YORK&sty=h&form=msdate

NEW YORK — The United States may lose its top-notch credit rating in the next few weeks if lawmakers fail to increase the country's debt ceiling, forcing the government to miss debt payments, Moody's Investors Service warned Wednesday.

"The review of the U.S. government's bond rating is prompted by the possibility that the debt limit will not be raised in time to prevent a missed payment of interest or principal on outstanding bonds and notes," Moody's said in a statement. "As such, there is a small but rising risk of a short-lived default."

Moody's was the first among the big-three rating agencies to place the United States' Aaa rating on review for a possible downgrade, which means a negative rating action is impending.

U.S. may lose top credit rating soon - Moody's - Business - Stocks & economy - msnbc.com

http://www.bing.com/maps/?v=2&where1=NEW YORK&sty=h&form=msdatehttp://www.bing.com/maps/?v=2&where1=NEW YORK&sty=h&form=msdate

Well the heats on Wall Street. Wall Street Republicans are going to be transferring that heat to Congress pretty quick. With the government debt under review, the rating agencies can move rapidly. The government obligations are AAA now. The first interest or principal payment that the government misses will result in an immediate downgrade. Usually if you default, your ratings go from wherever they are now to a D rating (Default). From the news article, it sounds like they will downgrade us it a deal is not reached by Aug 2nd.

When Lehman defaulted, I owned one of their bonds. Within 2 weeks of the default, the value of their bonds were down 80%. I'm certainly not saying this will happen with government bonds, but it will be one hell of shock to bond holders that will be felt in ever financial market. Remember, people that buy US debt do so because it is believed to be one of the safest investment in world. That's why major corporations, pension funds, investment companies and other nations park huge amounts of cash in treasuries.

It will be interesting to see investors reaction to this news at next weeks treasury bill auction. I think the government plans to auctions 27 billion.

 

[Chris]

<sigh>

Can't conservatives ever do ANYTHING (as in being involved in governance) without the result being a disaster or a disaster in the making?



http://www.bing.com/maps/?v=2&where1=NEW YORK&sty=h&form=msdate

NEW YORK — The United States may lose its top-notch credit rating in the next few weeks if lawmakers fail to increase the country's debt ceiling, forcing the government to miss debt payments, Moody's Investors Service warned Wednesday.

"The review of the U.S. government's bond rating is prompted by the possibility that the debt limit will not be raised in time to prevent a missed payment of interest or principal on outstanding bonds and notes," Moody's said in a statement. "As such, there is a small but rising risk of a short-lived default."

Moody's was the first among the big-three rating agencies to place the United States' Aaa rating on review for a possible downgrade, which means a negative rating action is impending.

U.S. may lose top credit rating soon - Moody's - Business - Stocks & economy - msnbc.com

http://www.bing.com/maps/?v=2&where1=NEW YORK&sty=h&form=msdatehttp://www.bing.com/maps/?v=2&where1=NEW YORK&sty=h&form=msdate

Well the heats on Wall Street. Wall Street Republicans are going to be transferring that heat to Congress pretty quick. With the government debt under review, the rating agencies can move rapidly. The government obligations are AAA now. The first interest or principal payment that the government misses will result in an immediate downgrade. Usually if you default, your ratings go from wherever they are now to a D rating (Default). From the news article, it sounds like they will downgrade us it a deal is not reached by Aug 2nd.

When Lehman defaulted, I owned one of their bonds. Within 2 weeks of the default, the value of their bonds were down 80%. I'm certainly not saying this will happen with government bonds, but it will be one hell of shock to bond holders that will be felt in ever financial market. Remember, people that buy US debt do so because it is believed to be one of the safest investment in world. That's why major corporations, pension funds, investment companies and other nations park huge amounts of cash in treasuries.

It will be interesting to see investors reaction to this news at next weeks treasury bill auction. I think the government plans to auctions 27 billion.

This is why Boehner wants to make a deal but is afraid he can't get the votes from the wacked out Tea Party Republicans.