Credit agencies warn GOP of 'death spiral'

[shintao]

And they're OK with Obama and the Dems blasting an annual trillion hole int he budget? LOL

Ahh, did they say they were OK with it, or are you just projecting your asshole right out between your lips today??

 

[shintao]

They want us to do much more than just Increase the Limit. They want us to get our ******* shit together.

lol

Well yes. But getting the shit together comes after raising the limit. You see you got to get your shit together on doing that first.

 

[oreo]

The Conservative response whenever they hear something they don't like... What about Obama and his....(fill in the blank)..

******* Cultists.

So then what you are saying is you do not think our Credit Rating will go into the shitter if we just keep Borrowing Money like we are? Even though the same people who Cautioned Congress today, Cautioned The Obama Admin and Democrats in Congress before already that we must cut our Borrowing and get our House in order?

You partisan Hacks on both sides are the ******* problem. Were Fucked if we Default, and Were Fucked if we just keep borrowing and do not convince them that we are getting our spending in check.

So Far I don't see shit out of the Democrats that looks like us trying to get our House in order.

this is one of those moments that will go down in history. If we do not come up with a compromise that includes enough changes to fiscal Policy to convince the Credit Raters that we got the message, People will look back on this day and say that was when the end started.

Any of you ***** that think the message today was you better increase the Borrowing Limit or your fucked is a complete idiot. They want us to do much more than just Increase the Limit. They want us to get our ******* shit together.

Or do you ******* idiots actually believe if a person was in as bed of Debt comparatively as the US is, and the only thing they did was Apply for another line of Credit so they could keep paying the Payment on all the others, That it would help there credit rating?

Really?

lol

The Federal Government is borrowing .43 cents on every dollar it spends.

We pay 29 BILLION dollars in INTEREST a month on the current national debt.




1 billion dollars--$100.00 bills stacked on palets.

 

[CrusaderFrank]

Raise the debt limit to 1268484383883848854868770806054939823726726364634788599609302020 trillion! Its the only way to satisfy both the rating agencies and Obama crack addict need to spend mo' money

 

[Flopper]

House Republicans were cautioned Thursday in a closed door meeting with credit rating agency officials that a “death spiral” in the bond market was one of the possible outcomes in the event of default.

One official warned of a worst-case scenario in which a default on the nation’s credit could result in a rapid drop in bond values, sparking chaos in the markets — a dramatic warning as Washington worked on a possible deal on deficit reduction and an increase in the debt limit.

Credit agencies warn GOP of 'death spiral' - Marin Cogan - POLITICO.com

The house of representatives--with bi-partisan support from democrats has already passed it's Cut-Cap and Balance bill--which addresses raising the debt ceiling--as long as there are cuts to spending--and eventually we get a balanced budget amendment out of it. It is on Harry Reid's desk right now--and there is a planned vote on it tomorrow--Saturday.

It is BARACK OBAMA who has stated he will VETO this bill--which will in turn--create a crisis in our bond markets. The Senate has FAILED to act on any bill of their own. In fact they haven't produced a plan or bill for the last 800 days.

The house bill (cut-cap--& balance) is supported by 2/3's or 66% of the American population--according to today's CNN poll.

Two-thirds of Americans support House Cut Cap and Balance Plan | Conn Carroll | Beltway Confidential | Washington Examiner

According to this poll--I would suggest that Senate democrats and Barack Obama take a serious look at this bill before they stick their noses up at it. If not--it very well could be THEM that are blamed for rising interest rates and a bond collapse.

This reminds me of the story of the Husband who locked his obese wife in the basement without food. When she died, the husband explanded to the police that her eating was killing her so he had no other alternative. The police didn't buy his explanation and the public won't buy the Republican explanation because no one is going to give a damn about government spending if we default.

 

[Chris]

Reagan and the two Bushes created 93% of the National Debt by loweirng taxes for the rich.

All we have to do is let the Bush tax cuts expire and raise the top rate by 3%.

And then get out of Iraq and Afghanistan.

It's pretty simple really.

But the Republicans are so afraid of Grover Norquist, that they don't have the balls to let the tax cuts expire.

 

[CrusaderFrank]

Reagan and the two Bushes created 93% of the National Debt by loweirng taxes for the rich.

All we have to do is let the Bush tax cuts expire and raise the top rate by 3%.

And then get out of Iraq and Afghanistan.

It's pretty simple really.

But the Republicans are so afraid of Grover Norquist, that they don't have the balls to let the tax cuts expire.

Obama deficits > Any Reagan Budget

 

[Steelplate]

The Conservative response whenever they hear something they don't like... What about Obama and his....(fill in the blank)..

******* Cultists.

So then what you are saying is you do not think our Credit Rating will go into the shitter if we just keep Borrowing Money like we are? Even though the same people who Cautioned Congress today, Cautioned The Obama Admin and Democrats in Congress before already that we must cut our Borrowing and get our House in order?

You partisan Hacks on both sides are the ******* problem. Were Fucked if we Default, and Were Fucked if we just keep borrowing and do not convince them that we are getting our spending in check.

So Far I don't see shit out of the Democrats that looks like us trying to get our House in order.

this is one of those moments that will go down in history. If we do not come up with a compromise that includes enough changes to fiscal Policy to convince the Credit Raters that we got the message, People will look back on this day and say that was when the end started.

Any of you ***** that think the message today was you better increase the Borrowing Limit or your fucked is a complete idiot. They want us to do much more than just Increase the Limit. They want us to get our ******* shit together.

Or do you ******* idiots actually believe if a person was in as bed of Debt comparatively as the US is, and the only thing they did was Apply for another line of Credit so they could keep paying the Payment on all the others, That it would help there credit rating?

Really?

lol

No.... it's just that idiots like think that raising the debt ceiling is like a blank check to spend more money. All I see from Dems and Republicans alike is numbers ranging from $4-9 Trillion dollars in cuts over the next 10 years... but you are too stupid to realize that.

We need to raise the debt ceiling to pay for shit we have already spent and borrowed. What happens if you buy a car or a home and decide you don't want to pay for it, so you stop paying your bill? You lose your car/home, your credit rating bottoms out, and anything you want to purchase in the future costs you 3-4 times as much because you have to borrow at a higher interest rate... BTW.... those interest rates WILL trickle down to us. If you are old enough to remember... Home loans in the mid to late 70's ranged from 13-18%.... do you really want to go back to those heady days?

 

[Truthmatters]

They dont care.

they will just make up a new lie to blame all of the rest of the mess they make on Poor people or brown people.

They love their failed ideas and dont give a shit about their fellow Americans

 

[uscitizen]

What the credit agencies are realy saying and have just realized is that this will be bad for their bottom line.

 

[Flopper]

The Conservative response whenever they hear something they don't like... What about Obama and his....(fill in the blank)..

******* Cultists.

So then what you are saying is you do not think our Credit Rating will go into the shitter if we just keep Borrowing Money like we are? Even though the same people who Cautioned Congress today, Cautioned The Obama Admin and Democrats in Congress before already that we must cut our Borrowing and get our House in order?

You partisan Hacks on both sides are the ******* problem. Were Fucked if we Default, and Were Fucked if we just keep borrowing and do not convince them that we are getting our spending in check.

So Far I don't see shit out of the Democrats that looks like us trying to get our House in order.

this is one of those moments that will go down in history. If we do not come up with a compromise that includes enough changes to fiscal Policy to convince the Credit Raters that we got the message, People will look back on this day and say that was when the end started.

Any of you ***** that think the message today was you better increase the Borrowing Limit or your fucked is a complete idiot. They want us to do much more than just Increase the Limit. They want us to get our ******* shit together.

Or do you ******* idiots actually believe if a person was in as bed of Debt comparatively as the US is, and the only thing they did was Apply for another line of Credit so they could keep paying the Payment on all the others, That it would help there credit rating?

Really?

lol

No.... it's just that idiots like think that raising the debt ceiling is like a blank check to spend more money. All I see from Dems and Republicans alike is numbers ranging from $4-9 Trillion dollars in cuts over the next 10 years... but you are too stupid to realize that.

We need to raise the debt ceiling to pay for shit we have already spent and borrowed. What happens if you buy a car or a home and decide you don't want to pay for it, so you stop paying your bill? You lose your car/home, your credit rating bottoms out, and anything you want to purchase in the future costs you 3-4 times as much because you have to borrow at a higher interest rate... BTW.... those interest rates WILL trickle down to us. If you are old enough to remember... Home loans in the mid to late 70's ranged from 13-18%.... do you really want to go back to those heady days?

I think you may be neglecting the potential for increased revenue when the country returns to it's traditional growth rate which has been about 80% to 100% growth over 10 year periods. After subtracting the government component out of GDP, the country could see an increased in yearly revenue of 1.2 to 1.6 trillion each year in 10 years without any tax increases.

IMHO, we need to do three things. First reduce government spending moderately each year by about 1% or 40 billion. To do much more than that would surely throw the country into another recession. Second, reform the tax code to encourage economic growth. A slight increase or decrease in taxes will not make much difference. Finally, have patience. Most of the economic excesses in the economy have been worked out. As long as we don't do something stupid like default on our debt or cut spending too fast, government revenues will start rising and begin cutting away at the deficits.


World Bank, World Development Indicators - Google Public Data Explorer

 

[BDBoop]

Reagan and the two Bushes created 93% of the National Debt by loweirng taxes for the rich.

All we have to do is let the Bush tax cuts expire and raise the top rate by 3%.

And then get out of Iraq and Afghanistan.

It's pretty simple really.

But the Republicans are so afraid of Grover Norquist, that they don't have the balls to let the tax cuts expire.

Why are they so afraid of him?

 

[Claudette]

Anyone seen a budget?? A plan?? Anything from the Dems yet??

If you do please link it so we can all see it.

Thanking you in advance.

 

[BDBoop]

Oh, yeah! Because they put it together and promptly stuck it on the net.

I suggest you Google "Gang of Six."

 

[BDBoop]

“The plan strikes the necessary balance between spending cuts, tax and entitlement reform, and enforcement to constrain future spending. The plan would:
“Slash our nation’s deficits by $3.7 trillion/$3.6 trillion over ten years under CBO’s March2011 baseline, or $4.65 trillion/$4.5 trillion under the original fiscal commission baseline (which used the President’s 2011 budget request as the starting point for discretionary spending);
Stabilize our publicly-held debt by 2014;
Reduce our publicly-held debt to roughly 70% of our economy by 2021; and
Impose unprecedented budget enforcement. This is a plan that can unite Republicans, Democrats and Independents. It would give committees of jurisdiction clear instructions and an opportunity to refine the choices we must make.

http://www.newsmax.com/InsideCover/GangofSix-letter/2011/07/22/id/404534

 

[WillowTree]

House Republicans were cautioned Thursday in a closed door meeting with credit rating agency officials that a “death spiral” in the bond market was one of the possible outcomes in the event of default.

One official warned of a worst-case scenario in which a default on the nation’s credit could result in a rapid drop in bond values, sparking chaos in the markets — a dramatic warning as Washington worked on a possible deal on deficit reduction and an increase in the debt limit.

Credit agencies warn GOP of 'death spiral' - Marin Cogan - POLITICO.com

Hey Asswipe. in case you don't as of yet realize it.. we're in a ******* death spiral now. so stop with the freaking fear mongering.

 

[Steelplate]

So then what you are saying is you do not think our Credit Rating will go into the shitter if we just keep Borrowing Money like we are? Even though the same people who Cautioned Congress today, Cautioned The Obama Admin and Democrats in Congress before already that we must cut our Borrowing and get our House in order?

You partisan Hacks on both sides are the ******* problem. Were Fucked if we Default, and Were Fucked if we just keep borrowing and do not convince them that we are getting our spending in check.

So Far I don't see shit out of the Democrats that looks like us trying to get our House in order.

this is one of those moments that will go down in history. If we do not come up with a compromise that includes enough changes to fiscal Policy to convince the Credit Raters that we got the message, People will look back on this day and say that was when the end started.

Any of you ***** that think the message today was you better increase the Borrowing Limit or your fucked is a complete idiot. They want us to do much more than just Increase the Limit. They want us to get our ******* shit together.

Or do you ******* idiots actually believe if a person was in as bed of Debt comparatively as the US is, and the only thing they did was Apply for another line of Credit so they could keep paying the Payment on all the others, That it would help there credit rating?

Really?

lol

No.... it's just that idiots like think that raising the debt ceiling is like a blank check to spend more money. All I see from Dems and Republicans alike is numbers ranging from $4-9 Trillion dollars in cuts over the next 10 years... but you are too stupid to realize that.

We need to raise the debt ceiling to pay for shit we have already spent and borrowed. What happens if you buy a car or a home and decide you don't want to pay for it, so you stop paying your bill? You lose your car/home, your credit rating bottoms out, and anything you want to purchase in the future costs you 3-4 times as much because you have to borrow at a higher interest rate... BTW.... those interest rates WILL trickle down to us. If you are old enough to remember... Home loans in the mid to late 70's ranged from 13-18%.... do you really want to go back to those heady days?

I think you may be neglecting the potential for increased revenue when the country returns to it's traditional growth rate which has been about 80% to 100% growth over 10 year periods. After subtracting the government component out of GDP, the country could see an increased in yearly revenue of 1.2 to 1.6 trillion each year in 10 years without any tax increases.

IMHO, we need to do three things. First reduce government spending moderately each year by about 1% or 40 billion. To do much more than that would surely throw the country into another recession. Second, reform the tax code to encourage economic growth. A slight increase or decrease in taxes will not make much difference. Finally, have patience. Most of the economic excesses in the economy have been worked out. As long as we don't do something stupid like default on our debt or cut spending too fast, government revenues will start rising and begin cutting away at the deficits.


World Bank, World Development Indicators - Google Public Data Explorer

Oh my god.... reason???? Really? optimism??? You must be kidding me?

Thank you sir.

Actually, I was not discounting any of what you mentioned. I do tire of the attacks from the right where the only answer to our woes seems to be gutting the government, including the programs that we pay into specifically for our own future well being, and the lowering of taxes to our wealthiest individuals and businesses on top of it. So sometimes I tend to speak in the same tones I am spoken to.