The Tea Party, Right About Everything

:pop :pop

This section is one that refers to that:

Compared with previous projections, our revised base case scenario now
assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012,
remain in place. We have changed our assumption on this because the majority
of Republicans in Congress continue to resist any measure that would raise
revenues, a position we believe Congress reinforced by passing the act. Key
macroeconomic assumptions in the base case scenario include trend real GDP
growth of 3% and consumer price inflation near 2% annually over the decade.

http://www.standardandpoors.com/servlet ... lue3=UTF-8

Bottom of page 4......

This section is one that refers to that:

Compared with previous projections, our revised base case scenario now
assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012,
remain in place. We have changed our assumption on this because the majority
of Republicans in Congress continue to resist any measure that would raise
revenues, a position we believe Congress reinforced by passing the act. Key
macroeconomic assumptions in the base case scenario include trend real GDP
growth of 3% and consumer price inflation near 2% annually over the decade.

http://www.standardandpoors.com/servlet ... lue3=UTF-8

Bottom of page 4......


Edited to add: not that I agree S&P should have lowered our rating but we need to find a better way of governing, we have too much game playing and not enough policy discussion.

I bet, if both sides really tried they could come up with a more comprehensive long term plan we could get out of this hole but there is too much 'our party has to win' from the right intended to take down Obama not do what's best for this country.... they need to try and work together and cut the hyper-partisan BS....

netdude wrote: This section is one that refers to that:

Compared with previous projections, our revised base case scenario now
assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012,
remain in place. We have changed our assumption on this because the majority
of Republicans in Congress continue to resist any measure that would raise
revenues, a position we believe Congress reinforced by passing the act. Key
macroeconomic assumptions in the base case scenario include trend real GDP
growth of 3% and consumer price inflation near 2% annually over the decade.

http://www.standardandpoors.com/servlet ... lue3=UTF-8

Bottom of page 4......


Edited to add: not that I agree S&P should have lowered our rating but we need to find a better way of governing, we have too much game playing and not enough policy discussion.

I bet, if both sides really tried they could come up with a more comprehensive long term plan we could get out of this hole but there is too much 'our party has to win' from the right intended to take down Obama not do what's best for this country.... they need to try and work together and cut the hyper-partisan BS....

They did. In December, Obama's OWN Deficit comission voted in cuts up to $4 trillion including revenue increases and that was 18 people with Republicans voting for it also. Obama rejected HIS OWN deficit comission so he could blame the Republicans since they had just won the election and were about to take over in Jan. So this is still heavily on Obama. HE chose a deficit comission and then when they passed something 8 months ago that would have made S&P happy, he said no and put it off again to create the unneeded crisis that we has last month and now the downgrade.

The Viking wrote:

netdude wrote: This section is one that refers to that:

Compared with previous projections, our revised base case scenario now
assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012,
remain in place. We have changed our assumption on this because the majority
of Republicans in Congress continue to resist any measure that would raise
revenues, a position we believe Congress reinforced by passing the act. Key
macroeconomic assumptions in the base case scenario include trend real GDP
growth of 3% and consumer price inflation near 2% annually over the decade.

http://www.standardandpoors.com/servlet ... lue3=UTF-8

Bottom of page 4......


Edited to add: not that I agree S&P should have lowered our rating but we need to find a better way of governing, we have too much game playing and not enough policy discussion.

I bet, if both sides really tried they could come up with a more comprehensive long term plan we could get out of this hole but there is too much 'our party has to win' from the right intended to take down Obama not do what's best for this country.... they need to try and work together and cut the hyper-partisan BS....

They did. In December, Obama's OWN Deficit comission voted in cuts up to $4 trillion including revenue increases and that was 18 people with Republicans voting for it also. Obama rejected HIS OWN deficit comission so he could blame the Republicans since they had just won the election and were about to take over in Jan. So this is still heavily on Obama. HE chose a deficit comission and then when they passed something 8 months ago that would have made S&P happy, he said no and put it off again to create the unneeded crisis that we has last month and now the downgrade.

Really? That's how you see it? Your brain is a marvelous thing to watch spinning as it unfolds. If I remember correctly, the commission made recommendations, not laws. If I remember correctly again, it's the Congress that makes the bills and then sends them to the President for signature or veto. The Republican House could have accepted the commission findings as well, couldn't they?

But go ahead, it's entertaining to watch you spin around and blame Obama for everything that's gone wrong. The worst part is that I'm sure you actually believe everything you write.

BTW - this debt crisis was manufactured by the Republicans and Tea Partiers. They needed the debt ceiling as leverage so they could force their issues through Congress. I don't think that ever before has a debt ceiling increase been more than just a single sentence bill. This was the Republicans & TPers single chance to ram their agenda through the system without a veto by holding the country hostage.

Kate wrote: [ Your brain is a marvelous thing to watch spinning as it unfolds.

It is, isn't it? Remarkable how much energy and determination go into his efforts to keep spinning facts to match his preconceived notions. Too bad there is no visible effort going into objective examination of those notions.