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Originally posted by quadagent
OP, did you ever consider looking at the reason S&P EXPLICITLY stated the downgrade was based upon, instead of reading something into a vague statement, grabbing the wrong end of a stick and then proceeding to beat a dead horse around the bush with it?!?!
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about the government's budget deficits and rising debt burden. The move is likely to raise borrowing costs eventually for the American government, companies and consumers. "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. The decision follows a bitter political battle in Congress over cutting spending and raising taxes to reduce the government's debt burden and allow its statutory borrowing limit to be raised. On August 2 President Barack Obama signed legislation designed to reduce the fiscal deficit by $2.1 trillion (1.28 trillion pounds) 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.
I just don't have anything else to say. If that isn't clear enough...I can't imagine what would be.
Originally posted by crimvelvet
Even YOU stated the Tea Party hasn't been around until AFTER 2009!edit on 6-8-2011 by crimvelvet because: (no reason given)
Originally posted by professornurbs
Lets get to schooling the OP. How can 1 group who doesn't even have a majority in not even 1 house be responsible for this. They cannot pass bills with out support from others in congress. It is simple logic to follow.
Originally posted by whyamIhere
Yes they are....
Finally a group of people stood up and said "enough".
We owe these great Americans a huge Thank You !!!
Originally posted by Snoopy1978
Where did all these ultra-right wing posters spring from? Two years ago (I lurked before signing up) was way more balanced, ideology wise, than now. What the hell happened? At this point in the game people that defend billionaires and oppose the common good of the general population should be only paid shills. How can someone argue against their own interests no matter their ignorance is astounding, but on ats seems way worse to me.
Originally posted by MiloNickels
I'm confused... the stock market dropped 700 points in two days and the credit rating was downgraded for the first time in our history AFTER we signed a bill that RAISED our debt ceiling. This wasn't what the tea party wanted us to do.
The fact is... our credit rating has been (and still is) WAY TOO HIGH for a very long time. If any citizen borrowed this frequently, spent this much, and paid back so little their credit score would sink like a rock. The rating should be based on performance--not reputation.
"One was the political gridlock in Washington, which make us think that it's going to be difficult for elected officials to put the fiscal profile of the U.S. government on a long-term sustainable path," he said.
"If you get to the $4 trillion figure -- which had been mentioned by the Bowles-Simpson commission, which had been mentioned by the president in his April 13 speech, which had been mentioned by Paul Ryan in his alternative budget -- that, if you have decent growth behind it,would have done the trick," Chambers said.
Originally posted by VikingHavokk
Sorry but it has nothing to do with rep. tea party it has to do with the american people spending so much all of america live outside there means...GET RID OF SECTION 8, Food stamps,and CREDIT CARDS>>>so its not a rep or dem problem its an USA problem. As in WE THE PEOPLE>>>>>>