Yes Republicans, there IS a global test...

Maybe the OP should read the ACTUAL report that was published by S&P as to why they downgraded the US.

It is only 8 pages long.
(This is the revised report that takes the $2 Trillion 'whoops' into account)

Downgrade Rationale Report

The political brinksmanship of recent months highlights what we see as America's governance and policy making becoming less stable, less effective, and less predictable than we had previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

They, quite clearly, implicate all political parties for this boondoogle.

They only mention the tax cuts as letting them expire would be a quick and easy way to increase revenues, if all else remains equal. They do not believe that that alone will solve the problem.

reply to post by peck420


AAAHHH. Merely hurdles to go around, in the effort to blame Bush.


Good find though.

Originally posted by dawnstar
reply to post by TDawgRex

 

maybe the only pathway in sight out of the ditch is much rockier and would be impossible for the car to drive through? so he's staying in the ditch till a better path is found???

Then you get out and walk to find a path out of that ditch. Tearing up the car (Economy) until it doesn't run will get you nowhere fast.Go slow and steady with a plan, that will win this race.

There is absolutely no common sense displayed by this Administration.

Originally posted by ladyinwaiting

Originally posted by newcovenant
reply to post by ladyinwaiting

 

If that is what you choose to believe who am I to talk you out of it?
Enjoy your fantasy world.

Originally posted by macman
reply to post by peck420

 

AAAHHH. Merely hurdles to go around, in the effort to blame Bush.


Good find though.

The political brinksmanship of recent months

ahem...t par t ?

FYI to add.

S&P is very eager to bump the US back up to AAA.

They will be leaving this research case file open continuosly for 2 years, which is unheard of for any other country. They are hoping, as much as most Americans are, that the US government will cut through the BS and create a fiscally responsible plan.

People....speculating and flexing your intellectual muscles how much you "know" about economics is absolutely pointless. We are entering a paradigm shift in this arena. Nothing about how it's been will remain. All the jockeying about this scenario is a waste of time. This is simply a collapsing of an old paradigm and the beginnings of labor pains that will soon birth a whole new way that NONE of us knows about. Humans are cute...they always have to prove they "know" what's happening. Just sit back and let it unfold. When your wife is giving birth you don't try and "fix" her by figuring out how to stuff the baby back in or even try pulling it out. Just let it happen naturally. This is a good thing.

News coverage on S&P’s credit warning typically failed to mention that Standard & Poor’s itself is in utter disrepute. It was an unindicted co-conspirator in the Wall Street deceitfulness that brought the nation to financial ruin. During the bubble of inflated housing prices, S&P and other rating agencies blessed the fraud-based mortgage securities issued by Wall Street banks with AAA ratings—deceiving gullible investors around the world and assuring bloated profits (and executive bonuses) for the greedy bankers. S&P provided cover for the massive scam that led to the crisis that sank the national economy.

www.thenation.com...

whoops!!! okay, new scapegoat to consider....
blame Standard and Poor, and the other credit rating agencies....


by the way, obama did lay social security on the bargaining table, didn't he?? If I remember right, it brought down the wrath of the democratic congress....
biut then we he put the condition of ending some of the bush tax cuts, well, the republicans walked out????

no ending those tax cuts isn't gonna do much of anything alone....
but neither can we just take everything to the chopping block and make it through.....
the sacrifice is gonna have to come from every sector!!! the rich are gonna have to give some also, and well, who benefitted the most from the scam that caused this mess....how much money did any of yous make through the buying and selling, the creating of those toxic assetts that was the biggest cause of the mess we arre in?? the scam made a few very, very wealthy, remember the words of the one little rater of these toxic peices of paper, "Let's hope we make our million before the house of cards come tumbling down"???
well, if they made their millions then, through something that brought down the world economy, well, they should be paying more now!! sorry, that's just the way it is!!!

Originally posted by newcovenant

Originally posted by macman
reply to post by peck420

 

AAAHHH. Merely hurdles to go around, in the effort to blame Bush.


Good find though.

The political brinksmanship of recent months

ahem...t par t ?

Sorry, forgot to add to my summary for you.

Bush bad.
Obama Godlike.

Tea Party, the worst group of hell bound Nazis that have ever graced this peaceful planet. Ever!!!!!!All they want to do it kill illegals, make old people eat garbage and force babies to die.

Yes, babies will die if the Tea Party is still around.

They have never denied the killing of babies, so they are baby killers.

AAAAAAAAHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!! TEA PARTY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! AAAAAAAAAAHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!

reply to post by TDawgRex

aww...go take a prozac!!
that's what bush would recommend, ya lots of common sense there!!

Originally posted by macman
reply to post by Janky Red

 

Yeah, ok...

Still, a bull run is nothing but.......a single instance of a run. That is it.

Now, show me a long term gain, rather then a shirt jump up and then down.

Less than 900 days ago

As government data revealed that 651,000 more jobs disappeared in February, a sense took hold that growing joblessness may reflect a wrenching restructuring of the American economy.

The unemployment rate surged to 8.1 percent, from 7.6 percent in January, its highest level in a quarter-century. In key industries — manufacturing, financial services and retail — layoffs have accelerated so quickly in recent months as to suggest that many companies are abandoning whole areas of business.

Unemployment jumped 0.5 percent in one month back then, nearly 700,000 jobs LOST in one month

It was a bleed out...

Do you expect Obama to save you?

Really, history will not take your side... You could make other, more accurate assertions

what is it with the E-trade terms of the day BTW?

reply to post by newcovenant


As an outsider, watching from the side, I would say that all the parties played the brinksmanship game equally.

Republicans, Democrats, Teaparty...didn't matter, none were willing to compromise for the betterment of the US as a whole. All were far too interested in trying to blame the others.

How many time, for each party, did the representative leaders (Obama/Boehner) blame past leaders of the other guys party over this whole ordeal? Why did this debt ceiling negotiation become a gong show, when countless others have gone so smoothly?

Everybody on that damned hill took part in this and deserves blame in this.

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!

TEA PARTY, DAMN YOU!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!

Originally posted by macman

Obama Godlike.
!

"Yes mighty Obama!"

"Save us! You are not saving us fast enough"

Originally posted by HunkaHunka
So today I wake up to read about the downgrade in our credit rating...

www.cnn.com...

And I was very surprised to read the following

"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 Friday shortly after markets closed.

So the S&P and other credit rating agencies sit in judgement of our congress... so there IS in effect a Global Test...

Ummm.... Uh...

Sorry dude. Downgrading the United States' credit rating is not a test. It actually happened.

Originally posted by HunkaHunka
Now the representative from the S&P goes on to point out specifically one of the issues that greatly contributed to the downgrade.. and it's the Bush Tax cuts...

He pointed to the decision by Congress about whether to extend the 2001 and 2003 tax cuts as one crucial area. "If you let them lapse for the high-income earners, that could give you another $950 billion," he said.

You see Republicans... we do NOT live in a vacuum where we can do whatever we want... there IS a global test... one that we are now very painfully aware of....

Ummm... Uh...

Sorry dude. He didn't say that the Bush's tax-cuts contributed to the mess. What he did say is that allowing Bush's tax-cuts to expire will help generate revenue.

Downgrading our credit rating actually occurred.

If you are referring to how the S&P came to such a conclusion, they got together in a little room, looked at the data, and then decided to reduce the credit rating. Some criteria and form of measurement was involved, but I can assure you that this is not a test. It happened.

Originally posted by Janky Red

Originally posted by macman
reply to post by Janky Red

 

Yeah, ok...

Still, a bull run is nothing but.......a single instance of a run. That is it.

Now, show me a long term gain, rather then a shirt jump up and then down.

Less than 900 days ago

As government data revealed that 651,000 more jobs disappeared in February, a sense took hold that growing joblessness may reflect a wrenching restructuring of the American economy.

The unemployment rate surged to 8.1 percent, from 7.6 percent in January, its highest level in a quarter-century. In key industries — manufacturing, financial services and retail — layoffs have accelerated so quickly in recent months as to suggest that many companies are abandoning whole areas of business.

Unemployment jumped 0.5 percent in one month back then, nearly 700,000 jobs LOST in one month

It was a bleed out...

Do you expect Obama to save you?

Really, history will not take your side... You could make other, more accurate assertions

what is it with the E-trade terms of the day BTW?

Save me???
Nope, I don't depend on the Govt to save me.
Those are Liberals you are thinking of.



Yep, didn't you know that when you open a new account, you get daily a haiku and term of the day to impress your neighbors and friends.

So this guys complain about billions.. and then are found to have miscalculated by 2 trillion.. and they act as if this is nothing. Oops.. our bad.. well, doesn't change anything! Although, apparently, even billions might have changed their mind before. This same company who highly rated banks who almost crashed the worlds economy in the worst way.

Sure.. they are reliable. *cough*

How much stock should anyone really put into what they think?

reply to post by angeldoll

We got so far in over our heads during those eight years, they knew we would never get out.
I honestly to God believe sometime that they didn't rig the last election because they wanted a Democrat in, to try and clean up the mess they made.

I think not so much to try and clean things up but to take the fall. McCain wasn't weak enough to assure an Obama victory so who did they turn to to further weaken the ticket? Then he and his wife go on SNL and parody themselves as hucksters, basically stating "I'm a joke, I know it and you know it."

My take is that the crowd who financed Bush in 98-99 only had him up there for show-n-tell. Get him more national recognition for a run in 04 or 08. Let Gore fumble it for a term or two and then anoint Bush king,er, president. But the American voter proved prematurely ripe for picking so they harpooned McCain in Florida and slid their boy, with help from the gang of nine, onto the throne 8 years early.

Then it was two terms of grab, grab and grab. The sitting duck failings of Obama were originally to have been Gores. Once the left handed weaknesses of the liberal approach to governing are/were fully exposed and buried, the firm right hand of conservatism could take the reigns appearing as a " things were better the way they were" father instead of it's true face of Orwellian big brother.

The trick isn't over yet, but it soon will be.

Originally posted by peck420
reply to post by newcovenant

 

As an outsider, watching from the side, I would say that all the parties played the brinksmanship game equally.

Republicans, Democrats, Teaparty...didn't matter, none were willing to compromise for the betterment of the US as a whole. All were far too interested in trying to blame the others.

How many time, for each party, did the representative leaders (Obama/Boehner) blame past leaders of the other guys party over this whole ordeal? Why did this debt ceiling negotiation become a gong show, when countless others have gone so smoothly?

Everybody on that damned hill took part in this and deserves blame in this.

You can say this but I was at a couple of the rallies and I remember the discourse.
It was disgusting and made the entire country look like...well I won't say it because they are still here.

Originally posted by dawnstar
reply to post by TDawgRex

 

aww...go take a prozac!!
that's what bush would recommend, ya lots of common sense there!!

I'm not defending Bush...uh? DUH?

But Obama is now in charge and what good has he done...in his entire life. Oh wait, he's the first black president? Ok? Now what? Big whoop...he's still president and has yet to act like one. He always is on the campaign trail and always acts the petulant child.

I'm not getting my way! WAAA!

Politics is a big boys/gals sport. If he can't hang, then resign. Or better yet...do something, um, I'm thinking here, oh yea! Do something good for the Nation....for a change.

I realize that fixing this problem will take time and be painful and if his Administration can come up a plan to make it work, rather than spending money like Paris Hilton (Who actually has some to spend, unlike the Goverment), I would back it up 100%.