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S&P downgrades U.S. credit rating from AAA (pg. 4)
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| enydo |
| quote: | Originally posted by The17sss
the only graph you need to look at:
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Oh, so this is the only graph I need to look at? Good to know. I wont look at any others. You're probably right, this is all I need to look at. |
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| The17sss |
| quote: | Originally posted by Groundhog Boy
With no revenues...which also would have appeased them.
No one advocated tax increases now. They advocated them in the future, when recovery had happened.
Instead, we're going to cut now, which is an economic hindrance. I love to hear Republicans talk about creating jobs, while removing government jobs. Apparently, those aren't "real." |
You're familiar with "baseline budgeting" that our government practices, no? No matter what, spending growth is going to increase each year like 7.5%. So the "cuts" we just had are going to give us 7.5 trillion over the next 10 years instead of 10 trillion. It's not even a cut, it's just a slightly slower expanding crack in the dam. Why the heck do you think we are getting downgraded? Because the bill that just passed was nothing more than political charades on both sides, showing no real commitment to stop the madness. |
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| Groundhog Boy |
| quote: | Originally posted by The17sss
Dude... what are you talking about? They supported the only debt reduction bill (CC&B) that was, as I said on the last page, guaranteed by all ratings agencies to avoid a credit rating downgrade if passed. The only one. Stupid Teabaggers! |
Yeah, the bill that was a waste of time, since they just threw it together haphazardly, knowing that it would never pass. They're great at writing down nonsense. I realize Obama never put anything on paper. Why would he when the dialogue nixes it before it's even on paper?
Secondly, I realize this means nothing to someone that thinks WWII isn't covered by Keynesian government stimulus, but you'd never have been able to spend that money unless you use riders that permit war/terrorism. There would be no other way to stimulate government enough under that amendment other than by creating a WAR. |
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| Groundhog Boy |
| quote: | Originally posted by The17sss
You're familiar with "baseline budgeting" that our government practices, no? No matter what, spending growth is going to increase each year like 7.5%. So the "cuts" we just had are going to give us 7.5 trillion over the next 10 years instead of 10 trillion. It's not even a cut, it's just a slightly slower expanding crack in the dam. Why the heck do you think we are getting downgraded? Because the bill that just passed was nothing more than political charades on both sides, showing no real commitment to stop the madness. |
I know, unwinding the stupidity of 2000-2008 is going to take awhile. Just like unwinding AIG, etc.
Only government ever to go to war and cut taxes at the same time. Congrats for supporting. |
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| Nrg2Nfinit |
| quote: | Originally posted by The17sss
The Democrat Congress demanded and Bush agreed that Obama and the Democrats would be responsible for the 2009 budget. The budget was signed into law on March 11, 2009. The Omnibus Appropriations Act, 2009 (H.R. 1105, Pub.L. 111-8), signed into law on March 11, 2009 is NOT the federal budget (if that's what you are getting at). |
Of course, Obama had won the election lol. I'm talking about the TARP
The actual bailout packaged proposed by paulson and immediatley backed by bush. so you should take at least 700 billion of that first red line and add it to bush's last year.
I'm all for the free markets and less government interferance, but what if we didn't have a bailout? i think you guys would be in a bigger hole than you're in now.
I better renew my mortgage quick before they start to hike up interest rates. |
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| OrangestO |
| quote: | Originally posted by Nrg2Nfinit
what if we didn't have a bailout? i think you guys would be in a bigger hole than you're in now.
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Bingo. |
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| Groundhog Boy |
| quote: | Originally posted by OrangestO
Bingo. |
Agree entirely, which really pisses me off when I hear Dems argue against it. |
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| DOOMBOT |
| quote: | Originally posted by Nrg2Nfinit
but what if we didn't have a bailout? i think you guys would be in a bigger hole than you're in now. |
It's because of the bailouts and continuous borrowing and spending that the country can not recover from the bust. Chances are, we'd have forgotten what happened in 2007 already because we would have already recovered from it. |
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| Joss Weatherby |
| quote: | Originally posted by Groundhog Boy
Agree entirely, which really pisses me off when I hear Dems argue against it. |
Honestly it would be better in the long run to totally destroy the republican party, which is what a default would have done.
I'd wager 10 years of hard economic times, even 20, would in the long run be better than letting this country continue on with Republicans as any sort of serious contender for political power. |
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| Joss Weatherby |
| quote: | Originally posted by DOOMBOT
It's because of the bailouts and continuous borrowing and spending that the country can not recover from the bust. Chances are, we'd have forgotten what happened in 2007 already because we would have already recovered from it. |
Seriously, please, just smash your computer right now. It will do everyone good. |
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| ivofivo |
| Tell him to do it with his head. |
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