Is Standard and Poor Blaming the Teaparty for credit Downgrade ?

[Chris]

The Republican HAVE to lie because all the facts are against them.

 

[saveliberty]

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. - S&P Analysis


Ahh it wont allow me to link to the standard and poors site that has the entire article because I dont have 15 posts as of yet :{ Above is an actual excerpt.

The treasonous Tea Party will do whatever it takes to destroy America.

If by America you mean, socialist embedded in the Democratis Party, you are correct.

 

[Big Fitz]

The Republican HAVE to lie because all the facts are against them.

facts like Hairnet's pollaganda saying 80% of Americans want the rich to be taxed more? Those kind of "facts"

 

[Trajan]

The Republican HAVE to lie because all the facts are against them.

we had an entire thread on this, a number reps acknowledged that bush added between 6 and 7 trillion to the debt. and , you posted in it, your memory that frail?

 

[Si modo]

Damn, another thread saying the same bullshit.

These idiots really should coordinate which parrot is going to post the latest idea someone gave them.

I mean, at least the parroting wouldn't be so obvious.

 

[Chris]

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. - S&P Analysis


Ahh it wont allow me to link to the standard and poors site that has the entire article because I dont have 15 posts as of yet :{ Above is an actual excerpt.

The treasonous Tea Party will do whatever it takes to destroy America.

If by America you mean, socialist embedded in the Democratis Party, you are correct.

Socialist?

People who support Social Security, Medicare, and the rich paying taxes at the same rate as the rest of us are socialists?

You really need to do a little research on what socialism is.

 

[Flopper]

According to Government - Historical Debt Outstanding - Annual 1950 - 1999, the debt at the end of the 1980 fiscal year, on September 30th, 1980, was $907,701,000,000. On September 30th, 1981, it was $997,855,000,000. Averaging it out over the year gives a debt of $246,997,260.27 per day.

Reagan took office 112 days later on January 20th, 1981. The debt on that date could be estimated as $907,701,000,000 plus 112 x $246,997,260.27, or $935,364,693,151.

Bill Clinton was the first president to slow the rate of the accrual of debt after the current out-of-control spending began with the Borrow and Spend Republicans in 1981.

The final amount of the senior Bush debt was $4,174,218,594,232.91 (according to Debt to the Penny (Daily History Search Application)), and Clinton became president on January 20th, 1993. Bill Clinton saw $1,553,558,144,071.73 added to the national debt during the eight years of his presidency.

However, from the start of fiscal year 1994 (7 months after Clinton became president), until the start of fiscal year 2002 (7 months after Bush took office), the amount of money paid toward interest on the existing Federal debt was $2,767,282,794,374.59 (Government - Interest Expense on the Debt Outstanding).

Therefore, no amount of the national debt is attributable to Bill Clinton - his policies of higher taxes and reduced spending actually simultaneously reduced the debt and brought about the strongest economy since World War II, despite the fiscal disaster left in the wake of Reagan and the first Bush.

The debt was at $5,727,776,738,304.64 on January 19th, 2001, the last business day before George W. Bush took the office of president. The debt was at $10,628,881,485,510.23 on January 16th, 2009, the last business day before Barack H. Obama became president.

ReaganBushDebt.org Calculation Details

In Republican's zeal to cut taxes, as Bush did twice, they seem to loose sight of the fact that cutting spending along with the the tax cuts is the way to go. Instead, they hope that tax cuts will stimulate the economy so as to produce enough revenue to cover the tax cuts. This of course didn't happen in the Bush years and we were screwed when the recession of 2008 hit. We had a high deficit, low interest rates, and historically low income taxes leaving the government few options for fighting the recession.

During times of economic prosperity, tax rates should raised, spending should be cut, and interest rates raised. During recession we should do opposite.

 

[Greenbeard]

In Republican's zeal to cut taxes, as Bush did twice, they seem to loose sight of the fact that cutting spending along with the the tax cuts is the way to go. Instead, they hope that tax cuts will stimulate the economy so as to produce enough revenue to cover the tax cuts.

Remember, however, that the argument that tax cuts will increase revenue only returns when it's convenient. When surpluses seemed to be the order of the day, Republicans sold their tax cuts as a way to decrease revenue:

The growing surplus exists because taxes are too high and government is charging more than it needs. The people of America have been overcharged and on their behalf, I am here to ask for a refund.

Whichever one happens to be most convenient will end up being the justification du jour for tax cuts.

 

[Chris]

Tax cuts decrease revenue.

Anyone who thinks otherwise is an idiot.

 

[The Rabbi]

In Republican's zeal to cut taxes, as Bush did twice, they seem to loose sight of the fact that cutting spending along with the the tax cuts is the way to go. Instead, they hope that tax cuts will stimulate the economy so as to produce enough revenue to cover the tax cuts.

Remember, however, that the argument that tax cuts will increase revenue only returns when it's convenient. When surpluses seemed to be the order of the day, Republicans sold their tax cuts as a way to decrease revenue:

The growing surplus exists because taxes are too high and government is charging more than it needs. The people of America have been overcharged and on their behalf, I am here to ask for a refund.

Whichever one happens to be most convenient will end up being the justification du jour for tax cuts.

Actually they are both true. But a loser hack like yourself won't see that.

 

[Big Fitz]

Tax cuts decrease revenue.

Anyone who thinks otherwise is an idiot.

Tax Cuts increase private sector economic activity increasing overall taxation. What may be lost in income tax is more than made up for in consumption taxes and investment taxes, idiot, because people have more money in their pocket to spend!

 

[saveliberty]

Tax cuts decrease revenue.

Anyone who thinks otherwise is an idiot.

Tax Cuts increase private sector economic activity increasing overall taxation. What may be lost in income tax is more than made up for in consumption taxes and investment taxes, idiot, because people have more money in their pocket to spend!

That and we aren't talking about a tax cut. We are discussing the continuation of a tax cut, which is not a new cut.

 

[edthecynic]

Tax cuts decrease revenue.

Anyone who thinks otherwise is an idiot.

Tax Cuts increase private sector economic activity increasing overall taxation. What may be lost in income tax is more than made up for in consumption taxes and investment taxes, idiot, because people have more money in their pocket to spend!

Some do and some don't. The tax cut that gives the most economic bang for the buck is cutting payroll taxes. That's the tax cut Obama proposed and the GOP blocked!!!!!

What I would do to stimulate the economy and create AMERICAN jobs is to REPLACE each of Bush's American job killing tax cuts when they expire, DOLLAR FOR DOLLAR, with a cut in the job killing payroll taxes.
This would give the American wage earner an immediate increase in take home pay to spend on a regular basis without costing the employer a single penny thus stimulating demand, and the businesses that employ Americans would have an immediate cut in the cost of labor without downsizing or outsourcing a single American job as well as saving the cost of compliance. The businesses that employ the most AMERICANS will get the most benefit from the tax cuts, exactly the group of people you would want to benefit most from tax cuts.

 

[Big Fitz]

That's the tax cut Obama proposed and the GOP blocked!!!!!

Really? Link?
Secondly, If it was blocked, I'd love to see what allegator was in that swamp. Very common practice to attach a deal killer or poison pill to popular legislation to prevent passage or try to sneak one through. Kinda like all the pork loaded into legislation via riders.

Don't think you get to pull that fast one here Edthecretin.

 

[Big Fitz]

Tax cuts decrease revenue.

Anyone who thinks otherwise is an idiot.

Tax Cuts increase private sector economic activity increasing overall taxation. What may be lost in income tax is more than made up for in consumption taxes and investment taxes, idiot, because people have more money in their pocket to spend!

That and we aren't talking about a tax cut. We are discussing the continuation of a tax cut, which is not a new cut.

Right, and my point is still valid on that front.

 

[Big Fitz]

Bush's American job killing tax cuts

Tax cuts kill jobs? Government jobs maybe. Which is a good thing.

But if you're talking good honest private sector jobs, I'd need to see some real good proof from a reliable source. No blogs, no advocacy sites, no hack propaganda sites like the Huffypoo. Reuters, AP, I'd even accept CNN (but not MSNBS)and other similar level of reputable news organizations.

The loss of American Job to other nations is not caused by tax cuts, it's caused by free trade agreements with nations with massively lower costs of living, regulatory standards (like the ones the left loves so much), labor costs (because of slave labor and no unions) and government economic intervention (unfair tax breaks and subsidies designed to hurt the US competition). You know, in nations like Mexico, India and China. That's what you need to fix.

 

[Maple]

The treasonous Tea Party will do whatever it takes to destroy America.

If by America you mean, socialist embedded in the Democratis Party, you are correct.

Socialist?

People who support Social Security, Medicare, and the rich paying taxes at the same rate as the rest of us are socialists?

You really need to do a little research on what socialism is.

" Socialism is the creed of ignorance, the gospel of envy and the equality of misery." Winston Churchill.

" The problem with socialism is that you eventually run out of OTHER PEOPLE'S money." Margaret Thatcher.

BTW if you took all of the money the so-called rich have including all of their assets, make them live under the bridge, it would finance this debt for app 24 days and then that's gone too and so are they.

 

[Maple]

We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process. - S&P Analysis


Ahh it wont allow me to link to the standard and poors site that has the entire article because I dont have 15 posts as of yet :{ Above is an actual excerpt.

The treasonous Tea Party will do whatever it takes to destroy America.

the tea party are the people who have been attempting to stop this train wreck for the last three years, duhhhhhhhhhhhhh, just look at their rally's, they are attempting to control an out of control President who spends like a drunken sailor and wants to raise everyone's taxes to pay for his spending binges. 4.1 billion dollars a day for your information. Now sustain that spending level and then with your obvious brilliance tell me how you can sustain that when we have a 9.2% unemployment rate and 46% of Americans pay NO federal income taxes AT ALL.

 

[edthecynic]

That's the tax cut Obama proposed and the GOP blocked!!!!!

Really? Link?
Secondly, If it was blocked, I'd love to see what allegator was in that swamp. Very common practice to attach a deal killer or poison pill to popular legislation to prevent passage or try to sneak one through. Kinda like all the pork loaded into legislation via riders.

Don't think you get to pull that fast one here Edthecretin.

GOP lawmakers say no to a payroll tax cut extension – CNN Political Ticker - CNN.com Blogs

GOP lawmakers say no to a payroll tax cut extension

By: CNN's Ted Barrett
(CNN) – Two top Republican lawmakers said Wednesday they don't support extending a payroll tax cut as a way to stimulate the economy -an idea the White House is weighing– because they don't believe it helped create jobs and that money is needed to shore up Social Security and Medicare.
Sen. Lamar Alexander, R-Tennessee, and Rep. Jeb Hensarling, R-Texas, who both hold GOP leadership positions, told reporters that the current high unemployment rate is proof that short-term stimulus programs, like the payroll tax reduction, don't work.

"I don't sense how this move will install the confidence that small businesses in east Texas and Fortune 50 companies are going to need to take care of the Obama employment gap," Hensarling said.
"We don't need short term gestures, we need long term strategies that build into our system simpler taxes, lower taxes, fewer mandates, lower costs, lower energy costs, more certainty," Alexander said

 

[saveliberty]

Looks like American coporations are going to sit on new jobs and cash until Washington makes real cuts and balances their budget...