The Tea Party Downgrade

[londonfog]

OWN IT TEA PARTY http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&blobcol=urldata&blobtable=MungoBlobs&blobheadervalue2=inline;+filename=US_Downgraded_AA+.pdf&blobheadername2=Content-Disposition&blobheadervalue1=application/pdf&blobkey=id&blobheadername1=content-type&blobwhere=1243942957443&blobheadervalue3=UTF-8

Overview​

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We have lowered our long-term sovereign credit rating on the United

States of America to 'AA+' from 'AAA' and affirmed the 'A-1+' short-term
rating.
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We have also removed both the short- and long-term ratings from

CreditWatch negative.
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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.
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More broadly, the downgrade reflects our view that the effectiveness,

stability, and predictability of American policymaking and political
institutions have weakened at a time of ongoing fiscal and economic
challenges to a degree more than we envisioned when we assigned a
negative outlook to the rating on April 18, 2011.
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Since then, we have changed our view of the difficulties in bridging the

gulf between the political parties over fiscal policy, which makes us
pessimistic about the capacity of Congress and the Administration to be
able to leverage their agreement this week into a broader fiscal
consolidation plan that stabilizes the government's debt dynamics any
time soon.
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The outlook on the long-term rating is negative. We could lower the

long-term rating to 'AA' within the next two years if we see that less
reduction in spending than agreed to, higher interest rates, or new
fiscal pressures during the period result in a higher general government​

debt trajectory than we currently assume in our base case.



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[Carne Seca]

::crickets::

Funny how the Right has nothing to say on the matter.

 

[londonfog]

Its right there in black and red...read the red you freaking teabagging idiots..Own IT and be proud of what you have done..

 

[beardo]

The govt spending more than we take in has been causing problems, thank you to any one who refuses to spend or borrow anymore

 

[olylifter420]

dude, all sides are pointing at each other... why cant they just agree on something that will benefit all of us... why does it have to be this machismo crap...

 

[Banditt]

::crickets::

Funny how the Right has nothing to say on the matter.

The post had been up for 3 minutes when you posted this. Not to mention it's already been discussed and analyzed in detail in another thread. Idiots.

 

[londonfog]

The post had been up for 3 minutes when you posted this. Not to mention it's already been discussed and analyzed in detail in another thread. Idiots.

I know you hate seeing the truth...Now we have another thread showing why s&p did it..with link...you welcome

 

[londonfog]

dude, all sides are pointing at each other... why cant they just agree on something that will benefit all of us... why does it have to be this machismo crap...

the fact that both side are pointing the finger is the reason why we have this thread..This shows just who is at fault..Never had a problem before simple raising the debt credit limit untll the Tea party started this BS drama..Now they must own it !!!!! and own it they shall

 

[Prefontaine]

so you are saying that a grass roots movement for smaller government and lower taxes, which did happen to receive financial support from concerned corporations, and was made up of people from both sides of the "two party system" who had dont want taxes raised to pay for a decade long quagmire which was financed and not paid for to continue for another decade are the people responsible for the republicam party refusing to allow an idiot president tell them what they have to do, so he can turn around and spend even more money, sorry, but the federal government isnt supposed to spend tax money on saving failing businesses, and when you decide to step in the way of capitalism by hooking a bloated whale to life support you dont deserve an increase in your credit limit.

Are you people really so stupid that you cant see the manipulation going on?

 

[Prefontaine]

the fact that both side are pointing the finger is the reason why we have this thread..This shows just who is at fault..Never had a problem before simple raising the debt credit limit untll the Tea party started this BS drama..Now they must own it !!!!! and own it they shall

We have never doubled our national debt in less than 30 years before, you see if you owe money you have to make payments on that debt, not borrow more to pay it off,
I bet you owe car payments and a mortgage and at least three credit cards, guess what I owe....student loans, and that is it.

 

[Carne Seca]

The post had been up for 3 minutes when you posted this. Not to mention it's already been discussed and analyzed in detail in another thread. Idiots.

Time discrepency. When I started writing the post, the time here was 5:36. When I submitted the post, it corrected to Pacific time (4:36). I'm on Mountain time. Thanks for assuming, assholes.

 

[Banditt]

Time discrepency. When I started writing the post, the time here was 5:36. When I submitted the post, it corrected to Pacific time (4:36). I'm on Mountain time. Thanks for assuming, assholes.

*cough*bullshit*cough*

I was online when the thread was created....3 mins later your post. Sorry to rain on your bullshit parade there.

 

[GreatwhiteNorth]

How about we try something totally different.
Like fixing the problem and not the blame?
It is far more cost effective and productive to correct a fault (the debit) than the mental mastribation of fixing blame. Some on here could run for a political position with the amount of "Spin" that is being placed on this one.
Did anyone think it was actually going to be pleasurable to dig ourselves out of the financial nightmare? It's going to hurt, but the longer we put this off the worse it will be.

 

[Johnnyorganic]

This is the Obama Downgrade.

The Teabaggers don't run anything.

Obama and the Democrats inherited a AAA rating and totally fucked it up.

Spending and borrowing can't go on indefinitely. Eventually, the credit rating takes a hit.

It was the spending and borrowing which caused this, not the attempt to stop it.

 

[londonfog]

so you are saying that a grass roots movement for smaller government and lower taxes, which did happen to receive financial support from concerned corporations, and was made up of people from both sides of the "two party system" who had dont want taxes raised to pay for a decade long quagmire which was financed and not paid for to continue for another decade are the people responsible for the republicam party refusing to allow an idiot president tell them what they have to do, so he can turn around and spend even more money, sorry, but the federal government isnt supposed to spend tax money on saving failing businesses, and when you decide to step in the way of capitalism by hooking a bloated whale to life support you dont deserve an increase in your credit limit.

Are you people really so stupid that you cant see the manipulation going on?

Just make sure you own it if you are a Teabagger...saying No don't make you right...signing a pact to not raise taxes before you even get in office is stupid , crazy, and ignorant..How the hell can you predict what the hell is going to happen..It comes a time when you do have to pay for these two wars..Do you know how wars are paid for ???anyone in the 500,000 club should see a tax increase..heck we should have been rolled the taxes back to pre Bush era, but anyhoot I hope you teabaggers don't have 401k because you just hurt yourself..

 

[Carne Seca]

*cough*bullshit*cough*

I was online when the thread was created....3 mins later your post. Sorry to rain on your bullshit parade there.

IT WAS MY FIRST GODDAMNED POST. IT WAS THE FIRST THING I SAW WHEN I SIGNED INTO RIU. fuck off. Jesus you're thick.

 

[uncalm]

So, the people telling government to stop spending money that we don't have, and borrow at interest.....they are to blame for this credit downgrade? Hmm. Couldn't have been 60years of overspending, over-reaching government...no that's not what the TV tells me to think, so no thats not possible. It's not too late friend....Dem and Rep.......Consv. and Lib. ..............Tea Party and Progressives......all of these are just divide and conquer techniques. Divide the little people( thats you and I) so that we fight each other and not the Oligarchy that controls media, corporations, and uses their money to pervert our Nation's laws. Borrowing more(at interest to the freaking Oligarchy) will not make this country strong again....only rooting out the parasites will.

It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.
Thomas Jefferson

 

[Carne Seca]

This is the Obama Downgrade.

The Teabaggers don't run anything.

Obama and the Democrats inherited a AAA rating and totally fucked it up.

Spending and borrowing can't go on indefinitely. Eventually, the credit rating takes a hit.

It was the spending and borrowing which caused this, not the attempt to stop it.

It's the cuts without revenue that caused this. Read the report. You know... facts.

 

[Banditt]

IT WAS MY FIRST GODDAMNED POST. IT WAS THE FIRST THING I SAW WHEN I SIGNED INTO RIU. fuck off. Jesus you're thick.

I could give two shits if it was your first or fifteenth. You're trying to call people out about ignoring the subject when the thread is only 3 minutes old. Give people a couple fucking minutes to find and read it before you start doing your victory dance. Christ, and I'm the one who's thick?

 

[Carne Seca]

I could give two shits if it was your first or fifteenth. You're trying to call people out about ignoring the subject when the thread is only 3 minutes old. Give people a couple fucking minutes to find and read it before you start doing your victory dance. Christ, and I'm the one who's thick?

Then shut the fuck up about it and get back on topic. You're wrong and you know you're wrong and now you're just digging a deeper shit hole. SHUT THE FUCK UP. The time was an hour off. enough said. move on.