Don't Panic!

AspenValley wrote:

BearMtnHIB wrote: This is very true- here's another lie- he said that they downgraded us "not because of our ability to pay our debt" but because of the political bickering.

Actually, if you read the statement by S&P it's pretty clear that the political bickering is EXACTLY why they downgraded us. It's not the debt, it's the unwillingness Congress is showing to make serious efforts towards imposing the pain it would take to ADDRESS the debt that concerns them. And rightfully so.

I know that, you know that, the S&P knows that, the President knows that, the world knows that.....but the Republicans? they don't WANT to know that. I believe that if they hold onto the fiction that this is about our debt not our dysfunctional government, they can pretend they have no complicity in this whole mess. The blinders and conservative colored glasses have kept them from seeing any uncomfortable truths.

and if he did nothing, then you guys would be crawling all over him for that. GOP owns this one with their made up crisis about the debt ceiling. Politics over Country... now THAT'S patriotism

Wily Fox aka Angela wrote: GOP owns this one

Bulls**t. It was a team effort all the way down the crapper.

Sorry, NTM....but this one is pretty much all the Tea Party. How do I know? When bad stuff happens that is the fault of both the Democrats and the Republicans, the right blames it all on the Democrats.....when it is all the Republicans the right blames it on Democrats and Republicans.....never, ever, have I seen republicans take sole responsibility for anything that has ever gone wrong. The simple fact that they are willing to share blame in this is a good indication they know they bear the majority of the blame.

AspenValley wrote:

BearMtnHIB wrote: This is very true- here's another lie- he said that they downgraded us "not because of our ability to pay our debt" but because of the political bickering.

Actually, if you read the statement by S&P it's pretty clear that the political bickering is EXACTLY why they downgraded us. It's not the debt, it's the unwillingness Congress is showing to make serious efforts towards imposing the pain it would take to ADDRESS the debt that concerns them. And rightfully so.

Agree. The S&P is big business and big corporations know their biggest single customer are the Feds. The more power they get to raise taxes, the more they will spend and the more corporations will earn.

Plus I think the S&P doesn't want to be like Moody's and ignore the resistance of the American public to take on more taxes.

And finally, they also realize that so much of the cuts agreed to last week are far enough in the future that they will likely never come to pass.

I just heard a little bit of Obama's speech but it looks like he want to continue his plan to cut payroll taxes. Think this will help tax reciepts if you are giving all workers more money on their paystub?

Actually, if you read the statement by S&P it's pretty clear that the political bickering is EXACTLY why they downgraded us. It's not the debt, it's the unwillingness Congress is showing to make serious efforts towards imposing the pain it would take to ADDRESS the debt that concerns them. And rightfully so.

The main reasons are mounting debt- and not addressing the budget to cut spending enough to address the problem.

S&P officials talked about rising public debt, pointing out that slowing economic growth also played a part. But mostly, the rating was based on Washington's political paralysis to deal with long-term debt, punctuated by a prolonged procrastination in averting a crisis last week, when leaders raised the cap on U.S. borrowing at the last minute.

"punctuated"- is not a main reason. Read the real reasons here.

http://finance.yahoo.com/news/SP-Washington-pushback-on-cnnm-2681135990.html?x=0&sec=topStories&pos=main&asset=&ccode=

archer wrote:

AspenValley wrote:

BearMtnHIB wrote: This is very true- here's another lie- he said that they downgraded us "not because of our ability to pay our debt" but because of the political bickering.

Actually, if you read the statement by S&P it's pretty clear that the political bickering is EXACTLY why they downgraded us. It's not the debt, it's the unwillingness Congress is showing to make serious efforts towards imposing the pain it would take to ADDRESS the debt that concerns them. And rightfully so.

I know that, you know that, the S&P knows that, the President knows that, the world knows that.....but the Republicans? they don't WANT to know that. I believe that if they hold onto the fiction that this is about our debt not our dysfunctional government, they can pretend they have no complicity in this whole mess. The blinders and conservative colored glasses have kept them from seeing any uncomfortable truths.

You honestly believe there isn't a debt problem with the US right now?
Talk about blinders. And I do know both sides by pandering to corporations and the general public have created this debt. And Keynes only helps this, spend our way out of recession. (Just not happening, in fact, more layoffs happening.)

Do you normally spend 33% more every month than you take in?

New headline, "The President prevents complete Obamageddon with words alone."

archer wrote: Sorry, NTM....but this one is pretty much all the Tea Party. How do I know? When bad stuff happens that is the fault of both the Democrats and the Republicans, the right blames it all on the Democrats.....when it is all the Republicans the right blames it on Democrats and Republicans.....never, ever, have I seen republicans take sole responsibility for anything that has ever gone wrong. The simple fact that they are willing to share blame in this is a good indication they know they bear the majority of the blame.

So, you're saying that if the republicans had just said "Ok, whatever" and signed on for no spending cuts, increased taxes, and a larger debt limit increase, the market would have been all rosy and happy?

His speech confirmed his problem. Taking shots at the republicans just confirmed to everyone that they are not serious about fixing the problem or going to play ball. His ego is unbelievable. Say what you want but until he stops acting like a egotisitical nut job he is not going to get anything done at all!!!!!! Sorry done with my mini rant. He needs to stop whining about not having it easy with a yes crowd ( a lib congress) and do what it takes. What an idiot. You guys all think this is the republicans he needs to make some deals. He is getting pushed around and that is HIS fault for being a weenie.