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S&P downgrades US credit rating

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  • M1911A1M1911A1 Senior Member Posts: 136 Senior Member
    so theres "Steven's " reason for the downgrade

    ...An then there's S&P's reason for the downgrade

    funny how Stevens reason spins the Repubs lotsa political cover for political brinksmanship

    ill take S&P at their word
    "Its like I always tell ya kid, you gotta fight when you think its the right thing to do. Otherwise, you feel like your guts full of ****. Even if you get the hell beat outta ya, if ya fight, ya feel ok about it."
  • WetdogWetdog Senior Member Posts: 5,684 Senior Member
    I am sure Steven has everything correct, after all, he believes in "trickle down economics."
    I find the assault on free thought disturbing,
    I find the willingness to give it up frightening.
  • fishingcomicfishingcomic Senior Member Posts: 26,039 Senior Member
    Steven wrote: »
    Hell, the Obama administration's sole response so far has been that they believe S&P made a math mistake.

    And S&P acknowledged that their numbers were wrong and even with that their spokesman last night made it very clear that the willingness of the government to even consider default as an option, meant that they could not trust them to come up with a solution.

    You try but you cannot ignore that a significant portion of this was the showdown. The language is clearly in the document. You cannot just lalalala that one away.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • fishingcomicfishingcomic Senior Member Posts: 26,039 Senior Member
    Steven wrote: »
    Nope. The Erskine-Bowles plans (your group of six) was roundly politicked against by everyone - both sides of the aisle. Lot of things Nancy and Harry didn't like.

    Try again.

    You cannot as hard as you try rewrite history. Obama clearly stated that while there were elements in the plan that he was uncomfortable with, that if they used that as the basis for discussion a fair solution could be reached.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • JulietJuliet Posts: 49,774 Senior Member
    Didn't we hear that Obama's Grand Plan was a "clean ceiling". Why is that any different than Can't-or's plan. He agreed to close loopholes on companies only if the tax rate was dropped the same amount as the loophole. WHAT? He's not the fiscal hawk he says he is. He's the water boy for big corps and the Koch Bros.

    “Our focus on tax loopholes seems to be putting Republicans on their heels on the issue of revenues,” Sen. Chuck Schumer, D-N.Y., said in a statement. “But if Republicans are going to say we can only close these loopholes in a revenue-neutral way, it is like taking one step forward and then two steps back. The point isn’t to get rid of these loopholes simply to pay for new tax breaks elsewhere, it’s to do it in a way that contributes to the reduction of the debt.”



    http://www.thefiscaltimes.com/Articles/2011/07/06/GOP-May-Close-Tax-Loopholes-If-Rates-are-Reduced.aspx#page1
  • JulietJuliet Posts: 49,774 Senior Member
    yatahey wrote: »
    Bull ****. Obama ran on solving the deficit problem by raising revenue on top income earners.
    March 24
    "Both under our estimates and under the CBO estimates, both the most conservative estimates out there, we drive down the deficit over the first five years of our budget," Obama said. "The deficit is cut in half. And folks aren't disputing that."
    http://www.politifact.com/truth-o-meter/statements/2009/mar/25/barack-obama/obama-promises-cut-deficit-half-four-years/


    Obama didn't get f-ck about cutting the deficit. He asked Joe the Plumber in front of everybody "don't you want to spread the wealth?"

    Please, like most libs - and President Obama is classic - he was interested in confiscatory taxes in order to benefit historically Dem constituencies.
  • fishingcomicfishingcomic Senior Member Posts: 26,039 Senior Member
    Now you are starting to sound like a birther. It must hurt when the facts do not conform to your argument.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • JulietJuliet Posts: 49,774 Senior Member
    And S&P acknowledged that their numbers were wrong and even with that their spokesman last night made it very clear that the willingness of the government to even consider default as an option, meant that they could not trust them to come up with a solution.

    You try but you cannot ignore that a significant portion of this was the showdown. The language is clearly in the document. You cannot just lalalala that one away.

    It's not my side that put up five pages that it was anything but.

    There was still wouldn't be an acknowledgment if I hadn't brought my computer home.

    As for Erskine Bowles - There was something in the plan everybody liked.
  • JulietJuliet Posts: 49,774 Senior Member
    Splain Can'tors plan then of closing loopholes while reducin the tax rate at the same time. 'Clean ceiling" no?
  • fishingcomicfishingcomic Senior Member Posts: 26,039 Senior Member
    Steven wrote: »
    It's not my side that put up five pages that it was anything but.

    No but there are 8 pages of you denying that the impasse had anything at all to do with the downgrade.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • JulietJuliet Posts: 49,774 Senior Member
    greenman wrote: »
    Splain Can'tors plan then of closing loopholes while reducin the tax rate at the same time. 'Clean ceiling" no?

    Are you implying that's a clean ceiling?

    I'm not sure what that has to do with the price of tea in China.
  • JulietJuliet Posts: 49,774 Senior Member
    No but there are 8 pages of you denying that the impasse had anything at all to do with the downgrade.

    Honestly, I think it had little to do with it in the sense that it was going to happen anyway. Without the impasse, there wouldn't have been cuts - even if Yatahey thinks there would have been because Obama was a deficit cutter (note latest call for extending unemployment benefits). Without cuts, the numbers keep going up.

    Numbers keep going up, ratings downgrade occurs.
  • fishingcomicfishingcomic Senior Member Posts: 26,039 Senior Member
    Again denial is not just a river in Egypt. You cannot prove your hypothesis and we have written and testimonial documentation to support its impact.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • JulietJuliet Posts: 49,774 Senior Member
    The leader for the GOP nomination thus far is Michele Bachmann. Who said a default would mean a thing.
  • yataheyyatahey Senior Member Posts: 5,605 Senior Member
    Steven wrote: »
    Please, like most libs - and President Obama is classic - he was interested in confiscatory taxes in order to benefit historically Dem constituencies.

    And you accuse me of making **** up. Find me a reputable source on that one. Joe the Plummer my ****.
    "When the goin gets weird, the weird turn pro." Hunter S. Thompson
  • JulietJuliet Posts: 49,774 Senior Member
    Joe the Plumber that didn't have a contractors license? The kind of plumber?
  • TrootfisherTrootfisher Senior Member Posts: 901 Senior Member
    greenman wrote: »
    The leader for the GOP nomination thus far is Michele Bachmann. Who said a default would mean a thing.

    Which means this will end up being a nasty election (aren't they all) and we are all going to lose.
  • JulietJuliet Posts: 49,774 Senior Member
    yatahey wrote: »
    Please, like most libs - and President Obama is classic - he was interested in confiscatory taxes in order to benefit historically Dem constituencies.

    isn't any tax confiscatory?

    are you advocating that we should have NO taxes at all

    is this where we put you on the street corner with a sign in your hand that says, "Cut Taxes Not the Military" with the rest of the cranks?

    if not ... define confiscatory and then site a credible source where Obama proposed this ... you know like versus tax increases under Reagan
  • JulietJuliet Posts: 49,774 Senior Member
    Which means this will end up being a nasty election (aren't they all) and we are all going to lose.

    if she wins we will be downgraded to the Stoopidest Nation on the Planet
  • Scott ButnerScott Butner Senior Member Posts: 3,918 Senior Member
    I am going to re-watch "Idiocracy" just to be better prepared.
  • yataheyyatahey Senior Member Posts: 5,605 Senior Member
    monkeydoes wrote: »
    isn't any tax confiscatory?

    are you advocating that we should have NO taxes at all

    is this where we put you on the street corner with a sign in your hand that says, "Cut Taxes Not the Military" with the rest of the cranks?

    if not ... define confiscatory and then site a credible source where Obama proposed this ... you know like versus tax increases under Reagan

    FTR I didn't say that.
    "When the goin gets weird, the weird turn pro." Hunter S. Thompson
  • JulietJuliet Posts: 49,774 Senior Member
    no my question was directed at Steven
  • JulietJuliet Posts: 49,774 Senior Member
    Confiscation implies punishment, not just taking. Obama's aim wasn't deficit cutting but rather targeting a particular income group with high rates of taxation as a punishment.

    .
  • JulietJuliet Posts: 49,774 Senior Member
    he was 'punishing' them?

    so an expectation to pay our bills is 'punishment'

    got it

    what was the top marginal rate he would take in lieu of marching them to the gallows? and on which part of their income?

    oh and where are the jobs?
  • yataheyyatahey Senior Member Posts: 5,605 Senior Member
    Steven wrote: »
    Confiscation implies punishment, not just taking. Obama's aim wasn't deficit cutting but rather targeting a particular income group with high rates of taxation as a punishment.

    .

    Still making **** up in this thread, huh.
    "When the goin gets weird, the weird turn pro." Hunter S. Thompson
  • JulietJuliet Posts: 49,774 Senior Member
    "Punishment"? What a laugh. Letting the Bush Tax cuts lapse would now be viewed as "punishment". An agreement that once in the mouth of the GOP they refused to comply with when time ran out. Got it.

    by the way where are the jobs?
  • JulietJuliet Posts: 49,774 Senior Member
    we've been punishing the Koch Brothers and their Billions of income with hundreds of millions in taxpayer subsidies a year for decades ... ohh the horror
  • M1911A1M1911A1 Senior Member Posts: 136 Senior Member
    Steven wrote: »
    Confiscation implies punishment, not just taking. Obama's aim wasn't deficit cutting but rather targeting a particular income group with high rates of taxation as a punishment.

    .

    you may not be one but ya speak "Fat-cat" fluently.

    S&P just downgraded yer financial leech credibility rating to AA neg
    "Its like I always tell ya kid, you gotta fight when you think its the right thing to do. Otherwise, you feel like your guts full of ****. Even if you get the hell beat outta ya, if ya fight, ya feel ok about it."
  • JulietJuliet Posts: 49,774 Senior Member
    Lol!

    ...............

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