Breaking news. S&P downgrades U.S. debt credit rating.

Rockdoc Franz wrote:

CinnamonGirl wrote: Tea Party? Here we go again.

Ya that. One has to be living in another universe to be focusing on this rather than how to survive what lies ahead. This will have global reaches, not just the US.

edited to add. Best I leave because I'm so pissed now that I'm likely to say things to people I will later regret.

Hit me with it..I can take it

AspenValley wrote:

Rockdoc Franz wrote: I do not think the Tea party s responsible for new expenditures, quite the opposite.

S&P didn't downgrade our credit rating because of "new expdentitures" they downgraded it because they think Congress is being held hostage by a bunch of politically-motivated clowns, preventing it from being able to competently deal with the debt crisis. Or much of anything, for that matter.

This is a clear signal that they think our Congress isn't capable of managing the affairs of this country.

There have been new expenditures for decades. it's been building and building. It isn't something that happened over night. Printing more money is not the answer to managing this countries affairs and that is exactly what the fight has been about. Congress is not being held hostage. GMAFB They are all in it together fighting to preserve their pet projects at the expense of the American people. Look at where we are. Did this happen since the budget situation? So you want to go tax people more now that they haven't got a pot to piss in left. Right! Oh I forgot Tax the rich and those nasty corporations that dare to make a profit. If only our government were run like a corporation then we would not be in this pickle. OK. Over and out.

Rockdoc Franz wrote:

AspenValley wrote:

Rockdoc Franz wrote: I do not think the Tea party s responsible for new expenditures, quite the opposite.

S&P didn't downgrade our credit rating because of "new expdentitures" they downgraded it because they think Congress is being held hostage by a bunch of politically-motivated clowns, preventing it from being able to competently deal with the debt crisis. Or much of anything, for that matter.

This is a clear signal that they think our Congress isn't capable of managing the affairs of this country.

There have been new expenditures for decades. it's been building and building. It isn't something that happened over night. Printing more money is not the answer to managing this countries affairs and that is exactly what the fight has been about. Congress is not being held hostage. GMAFB They are all in it together fighting to preserve their pet projects at the expense of the American people. Look at where we are. Did this happen since the budget situation? So you want to go tax people more now that they haven't got a pot to piss in left. Right! Oh I forgot Tax the rich and those nasty corporations that dare to make a profit. If only our government were run like a corporation then we would not be in this pickle. OK. Over and out.

Don't you understand? They didn't cut our credit rating because we have a debt, they cut our credit rating because they don't think Congress is serious about PAYING OFF the debt. And you can't pay off the debt, even if you cut expenditures, without raising revenue. To bad, so sorry, none of us wants to pay more taxes, but there it is. You can't pay off the debt without doing it. And S&Ps realizes it, even if it's news to the Republican party.

What part of this is so hard to understand....this is a DIRECT result of the Tea Party freshmen thinking they know it all and blocking the compromise that Obama, the Democrats and the Republicans (Boehner) worked out, that coincidentally cut the deficit by $4 trillion. Yeah.....this is all on the Tea Party....may they go down in flames in 2012. There isn't a level head that understands economics in the whole lot of them.

"The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the Administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics," S&P said in a statement.

On August 2, President Barack Obama signed legislation designed to reduce the fiscal deficit by $2.1 trillion over 10 years. But that was well short of the $4 trillion in savings S&P had called for as a good "down payment" on fixing America's finances.

http://www.reuters.com/article/2011/08/ ... eedfetcher

Rockdoc Franz wrote:

AspenValley wrote:

Rockdoc Franz wrote: I do not think the Tea party s responsible for new expenditures, quite the opposite.

S&P didn't downgrade our credit rating because of "new expdentitures" they downgraded it because they think Congress is being held hostage by a bunch of politically-motivated clowns, preventing it from being able to competently deal with the debt crisis. Or much of anything, for that matter.

This is a clear signal that they think our Congress isn't capable of managing the affairs of this country.

There have been new expenditures for decades. it's been building and building. It isn't something that happened over night. Printing more money is not the answer to managing this countries affairs and that is exactly what the fight has been about. Congress is not being held hostage. GMAFB They are all in it together fighting to preserve their pet projects at the expense of the American people. Look at where we are. Did this happen since the budget situation? So you want to go tax people more now that they haven't got a pot to piss in left. Right! Oh I forgot Tax the rich and those nasty corporations that dare to make a profit. If only our government were run like a corporation then we would not be in this pickle. OK. Over and out.

Government is not a business nor should it be run like a business. That is total right-wing BS. Were you not paying attention when our first MBA President was running the country? The goal of a business is to make a profit. Are you suggesting that Government should make a profit? Then I would think that charging those that benefit the most from the amazing opportunities that this country affords its citizens, would be the logical, prudent, profit-making thing to do. Tax the wealthiest mofos, I say. And then tax them some more just for the hell of it.

If there are senators that are listening to the tea party to make their decisions that is their own problem. This is not about the tea party. Jeez. People need to take responsibility for themselves. I am so sick of the tea party debate. If you want to blame someone fine. Call them republicans that is what they are.

Rockdoc Franz wrote: There have been new expenditures for decades. it's been building and building. It isn't something that happened over night.

The debt is only 10 years old, and you Fiscal Conservatives were in charge for 8 of em

AspenValley wrote:

Rockdoc Franz wrote:

AspenValley wrote:

Rockdoc Franz wrote: I do not think the Tea party s responsible for new expenditures, quite the opposite.

S&P didn't downgrade our credit rating because of "new expdentitures" they downgraded it because they think Congress is being held hostage by a bunch of politically-motivated clowns, preventing it from being able to competently deal with the debt crisis. Or much of anything, for that matter.

This is a clear signal that they think our Congress isn't capable of managing the affairs of this country.

There have been new expenditures for decades. it's been building and building. It isn't something that happened over night. Printing more money is not the answer to managing this countries affairs and that is exactly what the fight has been about. Congress is not being held hostage. GMAFB They are all in it together fighting to preserve their pet projects at the expense of the American people. Look at where we are. Did this happen since the budget situation? So you want to go tax people more now that they haven't got a pot to piss in left. Right! Oh I forgot Tax the rich and those nasty corporations that dare to make a profit. If only our government were run like a corporation then we would not be in this pickle. OK. Over and out.

Don't you understand? They didn't cut our credit rating because we have a debt, they cut our credit rating because they don't think Congress is serious about PAYING OFF the debt. And you can't pay off the debt, even if you cut expenditures, without raising revenue. To bad, so sorry, none of us wants to pay more taxes, but there it is. You can't pay off the debt without doing it. And S&Ps realizes it, even if it's news to the Republican party.

Great post!

From what I am hearing S&P wanted the debt package to equal 4 trillion. So, since it didn't they believed this warranted their down grade. I am guessing the senate and white house never thought any agency would dare try this and they did. Does this say that congress should have listened to agencies before making their decision about what was needed or is that being held hostage?

I am going to spend the weekend trying to make sense of all of it.

CinnamonGirl wrote: If there are senators that are listening to the tea party to make their decisions that is their own problem. This is not about the tea party. Jeez. People need to take responsibility for themselves. I am so sick of the tea party debate. If you want to blame someone fine. Call them republicans that is what they are.

I won't paint all Republicans with the Tea Party brush, many are reasonable, intelligent and responsible people who just happen to have different views than Democrats. The Tea Party is a whole different story.....and sorry CG, but if you get into office with the Tea Party's endorsement and subscribe to their ideology, then you will get painted with that brush. From the very beginning the Tea Party has done everything it can to bring down this government.....not change it's direction, or how it does business.....bring it down. And they are doing a damn fine job of it. We are complicit in their rampage through our government because we chose not to see the destruction they are capable of. I only hope it's not too late and people wake up to realize there are real consequences to what they are doing.