US Credit Rating ALREADY Downgraded

Discussion in 'Politics' started by Google, Jul 26, 2011.

  1. Google
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    Google Silver Member

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    Obama can add one more ‘unprecedented’ accomplishment to his list: America’s credit rating has been downgraded (Egan Jones cuts US rating, cites high debt load | Reuters) and for the most part this headline has been lost in the debt limit debate. What are the reasons cited for this action?

    “The agency said the action, which cut U.S. sovereign debt to the second-highest rating, was not based on fears over the country not raising its debt ceiling.

    Instead, the cut is due the U.S. debt load standing at more than 100 percent of its gross domestic product. This compares with Canada, for example, which has a debt-to-GDP ratio of 35 percent, Egan-Jones said in a report sent on Saturday
    .”

    Since 2008 many agencies have threatened the credit downgrading of the US government, and every time—EVERY TIME—unsustainable spending and burdensome debt during a time of painstakingly slow economic growth was cited as the cause.

    Not one liberal has explained how raising the debt limit will advert the downgrading of America’s credit rating, yet thread after moronic thread has been posted bemoaning this supposed fact. Where are the stories saying that $2 trillion dollars in additional debt to will ensure America’s AAA credit rating?

    The fact of the matter is raising the debt limit by $2 trillion, what Obama desperately wants, is only going to hasten the imminent destruction of America’s credit rating, and this is definitive evidence of that. This $2 trillion is the largest hike in the debt limit ever, and it is preceded by the largest hike in spending ever, all during a time when tax revenues are down and the economy has stalled.

    Liberal constantly preach that during a recession we must spend more. When are we going to see the results? The Democrats had complete control for the beginning of this administration and achieved the legislation they told us was going to secure economic success, and none of its stated objectives were met.

    “Shovel-ready wasn’t as shovel-ready as we expected (audible laugh)” President Obama
     
    Last edited: Jul 26, 2011
  2. ba1614
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    ba1614 Silver Member

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    If we just borrow a few more trillion we can get this debt under control.
     
  3. Vanquish
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    Vanquish Vanquisher of shills

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    Yeah. It's Obama's fault.

    Why is it that the Republican meme of "Blame Booosh" has traction, but they don't feel responsible when they Blame Obama???

    You've personalized and vilified this man just as much if not more than liberals did Bush. I mean I know it's politics, but ffs...at least be intellectually honest.
     
  4. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The devaluation of the dollar is further evidence.
     
  5. Trajan
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    Trajan conscientia mille testes Staff Member

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    well whats interesting to me is the stock that the left now puts in moodys, s&p, dun and bradstreet, fitch.

    one would think they would be vilified, most especially by the left, and rightly so as one of the un-indicted co-conspirators in the whole housing blow up.

    But hey, scummy wall st entities are to be trusted as virtuous canary in the coalmines as long as they suc the right ass....;)


    gotta give them credit though, its a 2 fer.

    they''ll go down for anyone, they gave BJ's to the banks, walls t. and loan agencies, now the left, what a wonderfully democratic organization they are.....:lol:
     
    Last edited: Jul 26, 2011
  6. Dr.Traveler
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    Dr.Traveler Mathematician

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    And what's hilarious is Canada has universal healthcare, a better educational system, and a better debt to GDP ratio? Awesome. Nice to know that focusing on education and healthcare pays off.
     
  7. American_Jihad
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    American_Jihad Flaming Libs/Koranimals

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    Moody's threatens lower U.S. credit rating

    9/11/12
    Lee Cary


    Boehner and House Republicans should activate their "Do Nothing" blame shield - pronto.

    Today, Moody's threatened to lower the U.S. debt rating in this statement.

    ---

    The threat from the rating agency will provide Obama and Biden an opportunity to blame the Republicans and the "Do Nothing" Congress - which to them only means the House of Representatives - for the country's mounting debt-ratings crisis.

    We can expect Democrats to play the blame game, as Obama will claim that the widely predicted Fiscal Cliff coming in early 2013 is the further proof of Republican obstructionism throughout his time in office.

    He will, of course, make no reference to the Democrats' control of both houses of Congress during his first two years, or the failure of Harry Reid's Senate to propose a budget.

    The "Blame-the-Do-Nothing-Congress" is a spin-off of the well-established "Blame Bush" meme.

    It falls under the principle of: Never accept responsibility for anything bad, but instead make outrageous, unsubstantiated claims of success.



    Read more: Blog: Moody's threatens lower U.S. credit rating
     
  8. Jackson
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    Jackson Gold Member Supporting Member

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    So this time the Credit Rating downgrade is who's fault? We are running out suspects, Mr. President.
     
  9. Jackson
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    Jackson Gold Member Supporting Member

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    HOw many do they have on food stamps and welfare? Do they have half the country paying taxes and the other half paying none? Just curious.
     

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