It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Rating agencies warn feds risks downgrade without deficit plan

page: 1
5

log in

join
share:

posted on May, 25 2012 @ 07:44 PM
link   
The Hill By Peter Schroeder - 05/25/12

Rating agencies warn feds risks downgrade without deficit plan

Credit rating agencies are again warning the U.S. Government that unless something is done to stop the wild binge spending and cut that damn deficit, the U.S. may be downgraded yet again !!!!

People are talking.

People are getting worried as we continue to see incumbent officials scurry for political position instead of actually doing something right now for the American citizens.


Rating agencies are warning that the federal government risks another downgrade of its creditworthiness if it fails to come up with a credible plan this year to lower the federal deficit.

The warning comes amid growing expectations that Washington will punt major tax and spending decisions into next year because lawmakers would have little time to address them in a lame-duck session after the November election.

Such a delay would not guarantee a downgrade, but officials at rating agencies say they need to be convinced that Washington has a real plan to reduce its growing debt if the nation is to avert future downgrades....



Lame Duck Warning !

“It’s highly uncertain ... because of the political circumstances,” said Steven Hess, Moody’s lead analyst for U.S. ratings. “Our stance at this point is to wait and see.”

Action on the debt almost certainly won’t happen before the election, because both parties are building their fall campaigns on differences over taxes and spending.

As a result, the administration and lawmakers are headed for the mother of all lame-duck sessions in November, when Congress must decide whether to raise the debt ceiling, extend the Bush tax rates and replace $1.2 trillion in automatic spending cuts set to begin in January 2013.



Here are the sad facts that our current President and Congresses have done to us recently

U.S. Government Revenue/Spending Gaps
The 7-Elevan Big GULP !! ….. Wild Obama Binge Spending !!

Year ----- Receipts ------ Outlays ----- (Deficit) ----- Revenue/Spending Ratio

2006 ......2,406,869 .......2,655,050 ...(248,181)…………110.83%

2007 ......2,567,985 .......2,728,686 ...(160,701)…………106.23%

2008 ......2,523,991 .......2,982,544 ...(458,553)……..….118.25%
 



2009 ......2,104,989 .......3,517,677 ...(1,412,688)………167.62%

2010 ......2,162,724 .......3,456,213 ...(1,293,489)………160.19%

2011 ......2,173,700 .......3,818,819 ...(1,645,119)………176.04%

2012 ......2,627,449 .......3,728,686 ...(1,101,237)………141.83%


(numbers in millions)
(2011 and 2012 are “estimates”)

They have MAXED Out the credit limits !!
Vote Obama !!!
Vote Thrift !!!

(see pages 23 & 24 in the pdf)
-->from the White House


[url=http://www.usgovernmentdebt.us/spending_chart_2002_2012USr_12s1li111mcn_F0f]Total Federal Spending




posted on May, 25 2012 @ 07:59 PM
link   
Just look at those deficit numbers since 2009. That's just horrible. Now before I get Liberals jumping down my throat, I think both parties are at fault. What do I think is next? I wouldn't say it's next, but I do see the term austerity being used in the not too distant future. Just wait until Americans start being told that they may need to work for free for six months. Didn't they try to tell the Greek citizens that?Good stuff Xuenchen S&F



posted on May, 25 2012 @ 08:03 PM
link   
reply to post by xuenchen
 


You know i was just thinking that puts a curtail to the last adminstrations spin of 1+1=3 now if the current adminstraition had spend so much less than anyone else:

The credit downgrade would have never happened and here they are agian saying get your house in order.

Me thinks the crooks doth protest too much.



posted on May, 25 2012 @ 09:09 PM
link   
I think it's important to note that the article mentions both taxes and spending. Signifying that we can't just cut our way to prosperity but we may need to look at garnering more revenue as well.



posted on May, 25 2012 @ 09:17 PM
link   
HM?

Scenario 1: Congress agrees to spending and cutting that actually helps turn the debt back into the right position? I think the only person who has seriously worked out a plan was Paul Ryan, that could have passed if it wasn't for the egoistical liberals who never had any factual arguments against his plans. But... I highly doubt the people in congress can come up with a plan that will please everybody before the election. So it works in Obama's favor. Please wait for 2013. Then I the untouchable, will be able to blame everything on Romney!

Scenario 2: Clear out everyone in Congress. While this sounds great and more than 90% of the US population will agree with it. It will never happen! And it 100% won't happen by 2013.

This is what deadlock looks like people!



posted on May, 25 2012 @ 09:21 PM
link   
Don't hold your breathe people, no Ron Paul or Ron Paul-like candidates, no real solution to the deficit.



posted on May, 25 2012 @ 09:37 PM
link   

Originally posted by eLPresidente
Don't hold your breathe people, no Ron Paul or Ron Paul-like candidates, no real solution to the deficit.


Paul Ryan had a plan... That was more reasonable than Ron Paul's.

More to the point. this thread is not about Ron Paul please take him elsewhere!



posted on May, 25 2012 @ 11:49 PM
link   

Originally posted by jjf3rd77

Originally posted by eLPresidente
Don't hold your breathe people, no Ron Paul or Ron Paul-like candidates, no real solution to the deficit.


Paul Ryan had a plan... That was more reasonable than Ron Paul's.

More to the point. this thread is not about Ron Paul please take him elsewhere!


If we're talking about ways to prevent more U.S. credit rating downgrades or encouraging upgrades then Ron Paul is very relevant to this topic.

If a budget plan for the US sounds reasonable, chances are it won't be doing much good.



new topics

top topics



 
5

log in

join