Topic: S&P Downgrades the USA
started by: Common Citizen
Posted by Common Citizen on Aug. 06 2011,8:27 am
< Article >QUOTE
Standard & Poor’s announced Friday night that it has downgraded the U.S. credit rating for the first time, dealing a symbolic blow to the world’s economic superpower in what was a sharply worded critique of the American political system.
Lowering the nation’s rating to one notch below AAA, the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.” It said the bipartisan agreement reached this week to find at least $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would not be likely to achieve more savings in the future.
Lowering the nation’s rating to one notch below AAA, the credit rating company said “political brinkmanship” in the debate over the debt had made the U.S. government’s ability to manage its finances “less stable, less effective and less predictable.” It said the bipartisan agreement reached this week to find at least $2.1 trillion in budget savings “fell short” of what was necessary to tame the nation’s debt over time and predicted that leaders would not be likely to achieve more savings in the future.
Was this really any surprise? The man has never ran a business or managed a payroll in his life.
Sad.
Posted by grassman on Aug. 06 2011,8:56 am
Boner?This country has become the playground for spoiled rich kids. Don't try and blame it on ONE person.
Posted by Common Citizen on Aug. 06 2011,9:04 am
Tit for tat, I say.NObama is all for hope and change...just not "tomorrow".
Posted by irisheyes on Aug. 06 2011,9:09 am
I came across a report this morning as I was checking my email. The biggest concern I would see of this situation has to do with our interest rate on debt. Currently several hundred BILLION every year goes to interest on the debt. Even a slight increase in interest would devastate our fiscal outlook. Not sure if this change will impact that though. And last I looked at the debt the largest portions the nation owes to itself through borrowing from trust funds to pay for wars and tax cuts.QUOTE
Was this really any surprise? The man has never ran a business or managed a payroll in his life.
It was not a surprise, but the idea that we would be better if we had a businessman in there doesn't hold water; certainly without any historical proof either. The objective of most in business is to cut taxes on the rich, not to balance the budget. Obama has simply carried on with the game plan of tax cuts on income/capital gains and continued wars without appropriating funds to pay for them.
Posted by MADDOG on Aug. 06 2011,11:02 am
(irisheyes @ Aug. 06 2011,9:09 am)
QUOTE
QUOTE
Was this really any surprise? The man has never ran a business or managed a payroll in his life.
It was not a surprise, but the idea that we would be better if we had a businessman in there doesn't hold water; certainly without any historical proof either. The objective of most in business is to cut taxes on the rich, not to balance the budget. Obama has simply carried on with the game plan of tax cuts on income/capital gains and continued wars without appropriating funds to pay for them.
I agree to some extent, but practical application is always just a little bit handy. I see it all the time in my bussiness. They take a guy who has never turned a wrench and make him a service manager or (gawd) take an accountant and make him a sales manager. In most of those cases, it wasn't good.
Who knows what a cheerleader can do?Obama isn't necessarily the one who needs to be hung out to dry unless you fault him for surrounding himself with tax evaders and a secretary of treasury who can't fill out his own taxes right. If one person is singled out, Geithner is the one who needs to go because of this.
Posted by nedkelly on Aug. 06 2011,11:19 am
The Republican party sold it's soul to the TParty, now we all will pay...Boehner said he got 98% of what he wanted!....
....
Posted by MADDOG on Aug. 06 2011,11:31 am
98% of what he wanted? Like convincing enough of the tea party movement that was voted into office last year to go with a plan not entirely accepted by the tea party as a whole?Was there enough cut from the budget? No. Should the debt ceiling been raised without the subtantial cuts made? No.
Hindsight now tells the tale that they should have never compromised.
Where do we go from here?
Posted by alcitizens on Aug. 06 2011,11:58 am
(MADDOG @ Aug. 06 2011,11:02 am)
QUOTE
If one person is singled out, Geithner is the one who needs to go because of this.
Grover Norquist and his Republican Teabaggers need to go..
Revenue and tax reform will have to be a part of any long term debt reduction.. Republicans need to go..
George W. Bush as a cheerleader at Andover
Posted by Glad I Left on Aug. 06 2011,1:11 pm
typical politics... It's always someone else's fault. Unless it is good.
Posted by Liberal on Aug. 06 2011,2:37 pm
In the polls I've seen so far, a clear majority of Americans blame the Republican controlled Congress for this. Why would they blame the democrats for this when it's pretty clear who's fault it is?
Posted by Glad I Left on Aug. 06 2011,3:01 pm
Is it clear? I am not happy with the bill the republican led house put to the senate, I don't like the senate's changes any better, and I haven't seen crap from the president. He has all kinds of idea on other things but when it comes to a budget suddenly he can't put anything together?There is plenty of blame to go around, across party lines.
THEY ALL SUCK.
Posted by nedkelly on Aug. 06 2011,6:09 pm
The congress draws up the budget, the senate OK's it and the President signs it, even if it stinks.... ....ned
Posted by alcitizens on Aug. 06 2011,7:33 pm
America’s ability to pay is neither here nor there: the problem is its willingness to pay. And there’s a serious constituency of powerful people in Congress who are perfectly willing and even eager to drive the US into default. The Tea Party is fully cognizant that it has been given a bazooka, and it’s just itching to pull the trigger. There’s no good reason to believe that won’t happen at some point.< http://www.economist.com/blogs...ing-cut >
Posted by Santorini on Aug. 06 2011,11:29 pm
(nedkelly @ Aug. 06 2011,6:09 pm)
QUOTE
The congress draws up the budget, the senate OK's it and the President signs it, even if it stinks... ...ned
...nedHow MANY times does Congress have to draw up a budget plan
How MANY times does Senate say...we are NOT gonna pass that budget (with their trademark I am not gonna even read it slogan)
Talk about partisan politics.Then at the 11th hour throw something together to appease the voting public.
Posted by Santorini on Aug. 06 2011,11:33 pm
(grassman @ Aug. 06 2011,8:56 am)
QUOTE
Boner?
This country has become the playground for spoiled rich kids. Don't try and blame it on ONE person.
This country has become the playground for spoiled rich kids. Don't try and blame it on ONE person.
You are right!!
Remember Obama getting on TV saying to the public;
call, email, text, your Congressman, Senators, tell them what you want, what you need, let your voices be heard!
He wants to blame this one on all of us
Posted by alcitizens on Aug. 07 2011,12:12 am
(Santorini @ Aug. 06 2011,11:33 pm)
QUOTE
You are right!!
Remember Obama getting on TV saying to the public;
call, email, text, your Congressman, Senators, tell them what you want, what you need, let your voices be heard!
He wants to blame this one on all of us
Remember Obama getting on TV saying to the public;
call, email, text, your Congressman, Senators, tell them what you want, what you need, let your voices be heard!
He wants to blame this one on all of us
Obama: "So please, to all the American people, keep it up," he says. "If you want to see a bipartisan compromise ... let your members of Congress know. Make a phone call, send an email, Tweet. Keep the pressure on Washington." (10:42 a.m.)
Obama wraps it up. "For all the intrigue and drama taking place on Capitol Hill right now, I’m confident that common sense and cooler heads will prevail."
< http://www.politico.com/politic...77.html >
Boehner: When you look at this final agreement that we came to with the white House, I got 98 percent of what I wanted. I'm pretty happy.
< http://www.cbsnews.com/stories...8.shtml >
Balanced approach? Compromise? I don't think so..
We got a downgrade because Republicans held the future of the country hostage..
Never jack with the full faith and credit of the United States..
Posted by irisheyes on Aug. 07 2011,12:39 pm
(MADDOG @ Aug. 06 2011,11:02 am)
QUOTE
I agree to some extent, but practical application is always just a little bit handy. I see it all the time in my bussiness. They take a guy who has never turned a wrench and make him a service manager or (gawd) take an accountant and make him a sales manager. In most of those cases, it wasn't good. Who knows what a cheerleader can do?
Who knows what a cheerleader can do?I see your point on the service manager and sales manager having knowledge of those areas. But since government is not a for-profit business, I don't see the need for a president or governor to have business experience. If she or he does, that's fine, but what difference will it make? History has plenty of examples of business people who got to the oval office and couldn't even propose a balanced budget under any circumstance.
QUOTE
Obama isn't necessarily the one who needs to be hung out to dry
He may be the one who needs to be hung out to dry depending on what happens between now and 2014. There are a few areas I'm not happy with. But I don't see myself voting repub again for a very long time either. Maybe I'll have to pick a good write in vote, like Dennis Kucinich?
Posted by Liberal on Aug. 07 2011,2:44 pm
QUOTE
Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.
Seems to me that S&P is blaming the GOP.
Posted by Expatriate on Aug. 07 2011,2:45 pm
So the S&P downgrades America's credit rating to AA+ with more downgrades to come, these same crapbirds were providing AAA ratings to worthless sub-prime mortgage securities on behalf of Wall Street investment firms not long ago, WTF do they know??
Posted by Glad I Left on Aug. 07 2011,5:16 pm
(Expatriate @ Aug. 07 2011,2:45 pm)
QUOTE
So the S&P downgrades America's credit rating to AA+ with more downgrades to come, these same crapbirds were providing AAA ratings to worthless sub-prime mortgage securities on behalf of Wall Street investment firms not long ago, WTF do they know??
LIKE!!
Posted by Duck Hunter on Aug. 07 2011,6:50 pm
Ironically this downgrade will probably be what we need to save us. GOP is unwilling to increase taxes, Dems are unwilling to change entitlements. Both of these things need to happen and the Fed needs to drastically reduce their balance sheet before inflation is out of control. Other note to Fed, quit paying interest to banks on their excess reserves, the Fed is trying to keep banks from making loans to keep inflation down!
Posted by alcitizens on Aug. 08 2011,10:38 pm
(Duck Hunter @ Aug. 07 2011,6:50 pm)
QUOTE
Other note to Fed, quit paying interest to banks on their excess reserves, the Fed is trying to keep banks from making loans to keep inflation down!
Where do you get your information? Link?
We've been experiencing serious Deflation in the housing market. Making more home loans will slow the Deflation and eventually stabilize housing prices..
Right now we need Inflation in the housing market to turn around the economy..
The Fed is trying to deal with an economy that is dealing with Inflation and Deflation at the same time. Not an easy task..
Posted by alcitizens on Aug. 08 2011,11:35 pm
Inflation caused by Tea Party Republicans..
Posted by alcitizens on Aug. 08 2011,11:37 pm
Deflation caused by Tea Party Republicans..
Posted by Common Citizen on Aug. 09 2011,2:44 am
Obama inherited a AAA rating and 5.7% unemployment. Admit it. He wasn't up to the job and blew it. Tea party my ass.
Posted by irisheyes on Aug. 09 2011,4:41 am
(Common Citizen @ Aug. 09 2011,2:44 am)
QUOTE
He wasn't up to the job and blew it.
Maybe he should extend the Bush tax cuts so the job crea-... Wait, he did that to appease the repubs. How about they bail out the shady banks and automake-? No, Bush, Obama, and McCain were all in that together. If you have any other ideas on how to give more money to the
Conservatives wanted tax cuts AND more spending in the largest parts of the discretionary budget, that was their Pledge to America that you posted on this forum not too long ago. Then the same people complain about debt ratings.
QUOTE
Obama inherited a AAA rating and 5.7% unemployment.
There are some bad things that were inherited as well. I don't remember the outlook with debt or unemployment being a good picture in 2008. But if you want to talk about unemployment rates and deficits, which President's unemployment spike is a mirror image of what's going on now?
< Hint - take a look at the 80's >
Posted by Duck Hunter on Aug. 09 2011,5:51 am
(alcitizens @ Aug. 08 2011,10:38 pm)
QUOTE
(Duck Hunter @ Aug. 07 2011,6:50 pm)
QUOTE
Other note to Fed, quit paying interest to banks on their excess reserves, the Fed is trying to keep banks from making loans to keep inflation down!
Where do you get your information? Link?
We've been experiencing serious Deflation in the housing market. Making more home loans will slow the Deflation and eventually stabilize housing prices..
Right now we need Inflation in the housing market to turn around the economy..
The Fed is trying to deal with an economy that is dealing with Inflation and Deflation at the same time. Not an easy task..
< http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm >
Never before have banks had excess reserves like today sitting idle.
Posted by Alfy Packer on Aug. 09 2011,9:01 am
Obama & the Tea Baggers have their issues. Both are contributory to what is happening, but so is S&P. S&P was the organization that miss rated all those bundled garbage mortgages that blew up on us without warning the end of 2008. S&P is nothing if not reliable. They have lied and relied to the point that they are reliable. I find it refreshing that they are honor bound to run us back into recession.
Posted by Santorini on Aug. 09 2011,10:21 am
(Common Citizen @ Aug. 09 2011,2:44 am)
QUOTE
Obama inherited a AAA rating and 5.7% unemployment. Admit it. He wasn't up to the job and blew it.
Tea party my ass.
Tea party my ass.
Absolutely!!!
BUT...[they] blame it all on the tea party! Powerful group they have turned out to be. With over 70% of Americans thinking we need a balanced budget...that is alot of tea partiers!
Obamas plans the past 2 1/2 years to move the economy forward has been counterproductive! His blowout in spending did not help the economy.
Now the weak dollar sends private capital overseas and that only hurts investment and job creation here at home.
He needs to realize as someone said [do not know where I read it] we are not just another country we are that center pole of the worlds ecomony. When people lose faith in our ability to pay our bills, in our dollar..it sends shockwaves throughout the world!The only way to solve this is to control spending!!!!
Posted by Common Citizen on Aug. 10 2011,7:08 am
(irisheyes @ Aug. 09 2011,4:41 am)
QUOTE
Conservatives wanted tax cuts AND more spending in the largest parts of the discretionary budget, that was their Pledge to America that you posted on this forum not too long ago. Then the same people complain about debt ratings.
There are some bad things that were inherited as well. I don't remember the outlook with debt or unemployment being a good picture in 2008. But if you want to talk about unemployment rates and deficits, which President's unemployment spike is a mirror image of what's going on now?
QUOTE
Obama inherited a AAA rating and 5.7% unemployment.
There are some bad things that were inherited as well. I don't remember the outlook with debt or unemployment being a good picture in 2008. But if you want to talk about unemployment rates and deficits, which President's unemployment spike is a mirror image of what's going on now?
Your missing my point.
Obama applied for the job in 2008. He told his employer that he was up to the challenge. I am telling you that he failed at it (but you don't need me to tell you) and now it is time to fire him and find someone who can handle it.
The only major thing that the liberals can come up with as an accomplishment is Obamacare...which has received hundreds, if not thousands, of waiver requests. That was a bill that had to be the liberals way, or the highway. They chose to spend time working on that rather than our debt and spending.
The liberals punted the economic football to the current elected congress and liberals in this country are blaming it on the Tea Party? Are you kidding? They didn't even get a smidgeon of what they wanted. The Rino's and the Liberal elites are all to blame and Obama is the leader of that regime. Open your eyes man.
Posted by Santorini on Aug. 10 2011,11:03 am
Right On Common Citizen
Posted by Liberal on Aug. 10 2011,1:49 pm
All the polls are showing that Americans are laying this at the feet of the GOP, and their teabaggin friends.QUOTE
TPM has been reporting for weeks about the effect of the debt debate on individual political leaders and the subsequently low ratings of Congress. But new data from a CNN poll shows that there's been a difference in the minds of many Americans: the Democratic Party is getting a split on approval/disapproval at 47 - 47, but the Republican Party disapproval rating is all the way up to 59%, against a 33% approval.
The GOP approval rating has been going down in the CNN poll since their 2010 victories: in the October 27-30 version, the Republican Party had a small plurality in approval, at 44 - 43. But since last fall's election they've seen a steady downward trend in the survey, to the current low, which is the highest disapproval rating in the CNN poll in the last twenty years.
The Tea Party itself actually has a lower disapproval rating at 51% than the Republican Party, and only a slightly lower approval rating at 31%.
< http://tpmdc.talkingpointsmemo.com/2011...ade.php >
Posted by alcitizens on Aug. 10 2011,5:22 pm
(Duck Hunter @ Aug. 09 2011,5:51 am)
QUOTE
< http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm[/URL] >
Never before have banks had excess reserves like today sitting idle.
Never before have banks had excess reserves like today sitting idle.
Never before have so many millions of people lost their credit to buy. Bush and a Republican controlled congress (2001-2006) destroyed any hope for many to purchase again for years to come. Banks need people with good credit to make loans, many now have bad credit..
Regulations are needed to prevent mortgage fraud, Republicans want less regulations..
Posted by alcitizens on Aug. 10 2011,7:17 pm
(Common Citizen @ Aug. 09 2011,2:44 am)
QUOTE
Obama inherited a AAA rating and 5.7% unemployment. Admit it. He wasn't up to the job and blew it.
Tea party my ass.
Tea party my ass.
QUOTE
Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.
You are so full of crap.. The Downgrade was caused by radical Republican Teabaggers.. Read it and Weep ^..
Obama inherited Crap.. Thank you for your support..
Posted by Glad I Left on Aug. 10 2011,8:52 pm
What I read from this discussion is that no matter what party you support, the fault is at the feet of the other party.Kinda sad really. Both parties suck ass, but partisan hacks will never believe it to be different.
Posted by Common Citizen on Aug. 10 2011,8:59 pm
(alcitizens @ Aug. 10 2011,7:17 pm)
QUOTE
(Common Citizen @ Aug. 09 2011,2:44 am)
QUOTE
Obama inherited a AAA rating and 5.7% unemployment. Admit it. He wasn't up to the job and blew it.
Tea party my ass.
Tea party my ass.
QUOTE
Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act. Key macroeconomic assumptions in the base case scenario include trend real GDP growth of 3% and consumer price inflation near 2% annually over the decade.
You are so full of crap.. The Downgrade was caused by radical Republican Teabaggers.. Read it and Weep ^..
Obama inherited Crap.. Thank you for your support..
If you believe that then you have to believe Nobama has done squat about it.
Nuff said...
Posted by Common Citizen on Aug. 10 2011,9:03 pm
Glad I Left... you know where I stand. To clarify: CUT SPENDING AND MAKE TAXES THE SAME PERCENT FOR EVERYONE.I don't care what party it is.
Posted by Duck Hunter on Aug. 10 2011,9:19 pm
(alcitizens @ Aug. 10 2011,5:22 pm)
QUOTE
(Duck Hunter @ Aug. 09 2011,5:51 am)
QUOTE
< ]http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm >[/URL]
Never before have banks had excess reserves like today sitting idle.
Never before have banks had excess reserves like today sitting idle.
Never before have so many millions of people lost their credit to buy. Bush and a Republican controlled congress (2001-2006) destroyed any hope for many to purchase again for years to come. Banks need people with good credit to make loans, many now have bad credit..
Regulations are needed to prevent mortgage fraud, Republicans want less regulations..
What? Are you in a different discussion? One thing has nothing to do with the other.
Your house is not a piggy bank to buy stuff with, regulation is needed with lending but the bigger problem is a lack of personal finance understanding with the housing problem. Are there some casualties of some that could really afford their house yes, but in most cases the buyers could not afford the house.
Both parties have significant blame for pushing home ownership without proper savings, there should never be a house purchased without 20% down, home equity loans should not exceed 80ltv, and no loans over 20 years.
Posted by Botto 82 on Aug. 11 2011,8:07 am
Wow. The Federal Reserve Ponzi scheme almost made it 100 years. Impressive.And now it's over. Global economic collapse looms. The big corporate playa's have no special affinity for U.S. economic interests. They will sell this country and its people down the river as easily as Reagan did.
I suggest you stop the partisan fingerpointing (more bread and circuses, nothing more) and figure out how the American people can wrest control of their destinies away from global corporations, with the little power to do so that they have left.
The 2008 economic mess was nothing, compared to what's just around the corner. For that matter, I'm betting that the Dark Ages will be looked on affectionately, compared to what looms.
Fiat currency and fractional reserve banking are unsustainable over the long haul. They eventually require an economic 'reset'. THAT should scare the bejesus out of liberty-loving, pursuit-of-happiness working people everywhere.
Posted by alcitizens on Aug. 11 2011,12:37 pm
(Common Citizen @ Aug. 10 2011,8:59 pm)
QUOTE
If you believe that then you have to believe Nobama has done squat about it.
Nuff said...
Nuff said...
QUOTE
11/3/2008
The government this time has been active in trying to prevent an economic meltdown, precisely because officials worried about another Great Depression. Explaining why President Bush backed the bailout, spokeswoman Dana Perino said: "It was when Ben Bernanke and Treasury Secretary Henry Paulson came to him and said we could be facing something worse than the Great Depression if we don't act, that the president realized that he had to put aside his instincts and focus on what he could do as president of the United States to help save this economy — not to help save Wall Street, not to help save any individual economy, but to help individual Americans all across the country of all economic stripes." The $700 billion bailout bill, and the fiscal stimulus checks that went out early this year, although controversial, show that the government is willing to intervene in the financial system to keep it afloat.
< http://www.usatoday.com/money...n_N.htm >
The government this time has been active in trying to prevent an economic meltdown, precisely because officials worried about another Great Depression. Explaining why President Bush backed the bailout, spokeswoman Dana Perino said: "It was when Ben Bernanke and Treasury Secretary Henry Paulson came to him and said we could be facing something worse than the Great Depression if we don't act, that the president realized that he had to put aside his instincts and focus on what he could do as president of the United States to help save this economy — not to help save Wall Street, not to help save any individual economy, but to help individual Americans all across the country of all economic stripes." The $700 billion bailout bill, and the fiscal stimulus checks that went out early this year, although controversial, show that the government is willing to intervene in the financial system to keep it afloat.
< http://www.usatoday.com/money...n_N.htm >
Like I said "Obama inherited Crap"
Posted by Duck Hunter on Aug. 11 2011,12:52 pm
(alcitizens @ Aug. 11 2011,12:37 pm)
QUOTE
(Common Citizen @ Aug. 10 2011,8:59 pm)
QUOTE
If you believe that then you have to believe Nobama has done squat about it.
Nuff said...
Nuff said...
QUOTE
11/3/2008
The government this time has been active in trying to prevent an economic meltdown, precisely because officials worried about another Great Depression. Explaining why President Bush backed the bailout, spokeswoman Dana Perino said: "It was when Ben Bernanke and Treasury Secretary Henry Paulson came to him and said we could be facing something worse than the Great Depression if we don't act, that the president realized that he had to put aside his instincts and focus on what he could do as president of the United States to help save this economy — not to help save Wall Street, not to help save any individual economy, but to help individual Americans all across the country of all economic stripes." The $700 billion bailout bill, and the fiscal stimulus checks that went out early this year, although controversial, show that the government is willing to intervene in the financial system to keep it afloat.
< http://www.usatoday.com/money...n_N.htm >
The government this time has been active in trying to prevent an economic meltdown, precisely because officials worried about another Great Depression. Explaining why President Bush backed the bailout, spokeswoman Dana Perino said: "It was when Ben Bernanke and Treasury Secretary Henry Paulson came to him and said we could be facing something worse than the Great Depression if we don't act, that the president realized that he had to put aside his instincts and focus on what he could do as president of the United States to help save this economy — not to help save Wall Street, not to help save any individual economy, but to help individual Americans all across the country of all economic stripes." The $700 billion bailout bill, and the fiscal stimulus checks that went out early this year, although controversial, show that the government is willing to intervene in the financial system to keep it afloat.
< http://www.usatoday.com/money...n_N.htm >
Like I said "Obama inherited Crap"
True, it was crap when he came in and he has made the crap pile twice as large with his policies and health care reform. Time to use those shovels he has been talking about to clean up the manure piles instead of continuing to add by staying on the path of the status quo.
Posted by alcitizens on Aug. 11 2011,3:17 pm
QUOTE
Explaining why President Bush backed the bailout, spokeswoman Dana Perino said: "It was when Ben Bernanke and Treasury Secretary Henry Paulson came to him and said we could be facing something worse than the Great Depression if we don't act, that the president realized that he had to put aside his instincts and focus on what he could do as president of the United States to help save this economy
Didn't you read where President Bush had to put aside his instincts so the economy could be saved? Instincts? Bush?
We had eight years of him using his instincts.. No wonder we almost ended up with an economy worse than the Great Depression..
Posted by Glad I Left on Aug. 11 2011,4:49 pm
(Common Citizen @ Aug. 10 2011,9:03 pm)
QUOTE
Glad I Left... you know where I stand. To clarify: CUT SPENDING AND MAKE TAXES THE SAME PERCENT FOR EVERYONE.
I don't care what party it is.
I don't care what party it is.
I agree with you. Problem is neither party will offer their sacred cows.
Yes Republicans, that means Defense cuts
Yes Democrats, that means entitlement cuts
Raising taxes alone isn't going to cut it. You could tax everyone at 100% and we still won't pay it off soon enough.
STOP SPENDING!!!!!!!!!!!!!
Posted by Duck Hunter on Aug. 11 2011,5:44 pm
(alcitizens @ Aug. 11 2011,3:17 pm)
QUOTE
QUOTE
Explaining why President Bush backed the bailout, spokeswoman Dana Perino said: "It was when Ben Bernanke and Treasury Secretary Henry Paulson came to him and said we could be facing something worse than the Great Depression if we don't act, that the president realized that he had to put aside his instincts and focus on what he could do as president of the United States to help save this economy
Didn't you read where President Bush had to put aside his instincts so the economy could be saved? Instincts? Bush?
We had eight years of him using his instincts.. No wonder we almost ended up with an economy worse than the Great Depression..
And yet many of the people who actually made the housing crisis that significantly lead to the proverbial crap hitting the fan are still in congress today causing havoc writing more crap financial and health bills/laws.
Posted by Santorini on Aug. 11 2011,7:39 pm
(alcitizens @ Aug. 11 2011,3:17 pm)
QUOTE
QUOTE
Explaining why President Bush backed the bailout, spokeswoman Dana Perino said: "It was when Ben Bernanke and Treasury Secretary Henry Paulson came to him and said we could be facing something worse than the Great Depression if we don't act, that the president realized that he had to put aside his instincts and focus on what he could do as president of the United States to help save this economy
Didn't you read where President Bush had to put aside his instincts so the economy could be saved? Instincts? Bush?
We had eight years of him using his instincts.. No wonder we almost ended up with an economy worse than the Great Depression..
Yea!!!
And we have only had 3 years of HOPE & CHANGE
aka. hoax & chains
leaving our economies reality the WORST economy SINCE the Great Depression!!!!
Nice going Obama groupies
Posted by Grinning_Dragon on Aug. 11 2011,10:08 pm
Posted by alcitizens on Aug. 11 2011,10:33 pm
QUOTE
"There are some folks in Congress who would rather see their opponents lose than see America win," Obama told an audience at a battery facility in Michigan
< http://www.reuters.com/article...0110811 >
< http://www.reuters.com/article...0110811 >
Republicans have total control in Congress to pass job creating legislation that President Obama has submitted, they won't even bring'em up for a vote..
The party of NO is now the party that wants high unemployment so they can possibly get the White House back..
Politics before Country, thats Republicans.. Thats Treason..
QUOTE
In law, treason is the crime that covers some of the more serious acts of betrayal of one's sovereign or nation.
< http://en.wikipedia.org/wiki/Treason >
< http://en.wikipedia.org/wiki/Treason >
Posted by Glad I Left on Aug. 11 2011,11:59 pm
(alcitizens @ Aug. 11 2011,10:33 pm)
QUOTE
Politics before Country, thats Republicans.. Thats Treason..
Both parties are guilty of this... no one party is better than the other...
Wake up people...
Posted by Santorini on Aug. 12 2011,1:44 am
(alcitizens @ Aug. 11 2011,10:33 pm)
QUOTE
QUOTE
"There are some folks in Congress who would rather see their opponents lose than see America win," Obama told an audience at a battery facility in Michigan
< http://www.reuters.com/article...0110811 >
< http://www.reuters.com/article...0110811 >
Republicans have total control in Congress to pass job creating legislation that President Obama has submitted, they won't even bring'em up for a vote..
The party of NO is now the party that wants high unemployment so they can possibly get the White House back..
Politics before Country, thats Republicans.. Thats Treason..
QUOTE
In law, treason is the crime that covers some of the more serious acts of betrayal of one's sovereign or nation.
< http://en.wikipedia.org/wiki/Treason >
< http://en.wikipedia.org/wiki/Treason >
the House & Senate, both with bipartisan support, will bring up Obamas patent and trade measures after they return from Labor Day break!
Obama claims it will create LOTS of new jobs!!!!!
Posted by Liberal on Aug. 12 2011,1:59 am
Do you think that people choose a party and then form their opinions based on that political party? I certainly don't support democrats because I agree with everything they stand for, I support democrats because they support a lot of the causes I agree with, and they oppose other things that I oppose.If there was a viable third party that were social liberals, fiscal conservatives and believed in the entire Constitution (including 2nd amendment) I'd switch parties in a heart beat.
Posted by Glad I Left on Aug. 12 2011,2:11 pm
(Liberal @ Aug. 12 2011,1:59 am)
QUOTE
If there was a viable third party that were social liberals, fiscal conservatives and believed in the entire Constitution (including 2nd amendment) I'd switch parties in a heart beat.
I don't belong to either party but I would most likely join that party with you.
Posted by alcitizens on Aug. 12 2011,4:51 pm
(Glad I Left @ Aug. 12 2011,2:11 pm)
QUOTE
(Liberal @ Aug. 12 2011,1:59 am)
QUOTE
If there was a viable third party that were social liberals, fiscal conservatives and believed in the entire Constitution (including 2nd amendment) I'd switch parties in a heart beat.
I don't belong to either party but I would most likely join that party with you.
Hold the lettuce, Hold the pickles, Special orders don't upset us, All we ask is that you let us serve it your way..
People that don't vote should shut up if they don't like whats being served. This aint frikin Burger King.. This is a Democracy.. Nobody gets everything they want..
You frikin sheep that don't have enough common sense to choose from our current menu deserve to live under the Rule of a frikin Dictator.. God I hate stupid people..
Posted by Glad I Left on Aug. 12 2011,7:13 pm
I hope that was sarcastic alci...1. People should not shut up if they don't vote, that is absurd, 2. this is a republic, not a democracy, and 3. true, no one gets everything they want.
4. I will not choose from a menu if I don't like the options, that being said, I have only entered a write in vote once or twice, and 5. yes, I hate stupid people too.
Posted by alcitizens on Aug. 13 2011,2:09 am
No I don't hate stupid people.. 
Posted by grassman on Aug. 13 2011,9:18 pm
From what I have seen, the Republicans have thrown the whole country under the bus. They did this just to SHOW, WHO, runs this country. The wealthy win again. We are nothing but food to the Republicans and the wealthy. Do you really think the wealthy are taking a hit on the stock market?! They drop stocks, buy them back after the turmoil they caused hits. Billions made just like that. It is just a game to them. They have TIGER BLOOD. WINNING ! Maybe just huge amounts of money. That's what happens when too few people hold all of the chips.
Posted by Common Citizen on Aug. 13 2011,11:12 pm
I can tell that your definition of wealthy is much different than the DNC and that of the Obama regime.
Posted by alcitizens on Aug. 15 2011,10:29 pm
Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.“That a country even has such voices, albeit a minority, is something notable,” he added. “This kind of rhetoric is not common amongst AAA sovereigns.”
< http://www.politico.com/news/stories/0811/61147.html#ixzz1UqfYpZk6 >
In reaction to the statements by S&P on Thursday, however, Rep. Tom McClintock (R-Calif.) said the firm had misinterpreted the GOP position.
Posted by alcitizens on Aug. 15 2011,10:42 pm
(Common Citizen @ Aug. 13 2011,11:12 pm)
QUOTE
I can tell that your definition of wealthy is much different than the DNC and that of the Obama regime.
Stop Coddling the Super-Rich
By WARREN E. BUFFETT
I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax. This cut helps the poor and the middle class, who need every break they can get.
But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.
My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.
< http://www.nytimes.com/2011..._r=2&hp >
Posted by Common Citizen on Aug. 16 2011,9:57 pm
So what's your point? Why doesn't Buffet lead by example and cut a couple billion dollar check to the IRS today. Nothing says he can't, so why doesn't he? I mean, it is what he believes in...right? Better yet, you should write him a letter demanding that he does.
Posted by alcitizens on Aug. 17 2011,12:41 pm
All eight Republican candidates in the Iowa debate said they would not accept a budget with a 10-1 ratio of spending cuts to tax hikes..
Chalk one up to the crazies. If Congress wanted to get rid of tax exemptions and exclusions amounting to $100 billion in new taxes in exchange for $1 trillion in cuts, Republicans would turn it down..
This is why S&P Downgraded the USA.. The Teabagger Pledge..
Posted by Self-Banished on Aug. 17 2011,3:15 pm
Well Golly Gee!!! Rising taxes? wouldn't that be like giving money to a bunch of irresponsible ingrates?
Posted by Common Citizen on Aug. 17 2011,8:10 pm
QUOTE
All eight Republican candidates in the Iowa debate said they would not accept a budget with a 10-1 ratio of spending cuts to tax hikes..
Because they know spending cuts would never happen. It was a trick question.
Posted by Santorini on Aug. 17 2011,9:04 pm
For the sake of argument...lets just say Go ahead and raise taxes on the top 2%...
with that done...NOW WHAT!!!
Is that additional spending for the left??
Do the dems get to create more entitlements?
What exactly does raising taxes on the top 2% accomplish except jobs kill and when will enough be enough?
Cutting programs has to be done, there is no way around it. Unemployment and welfare were not developed to be considered a lifesytyle! Social Security was not meant to be the only source of income for retirement! There are so many duplicated programs out there it is such an enourmous waste. Planned Parenthood for example...virtually every state has family planning programs subsidized by the federal government...so why does the govt have to subsidize planned parenthood too?
So do-tell, raising taxes on the top 2% now and for how long... before your barking to raise it again and again...
Posted by alcitizens on Aug. 17 2011,9:09 pm
(Common Citizen @ Aug. 17 2011,8:10 pm)
QUOTE
Because they know spending cuts would never happen. It was a trick question.
When billionaires and a President start saying "Look at me, I don't get taxed enough" and prove it, people should wake up and realize that our tax system works in favor of the wealthy.
Like I've said for years, tax the rich at the same tax rate as the middle class, problem solved..
I do realize that with the advances in technology that cuts can be made across the board..
My question to you is why do Republicans want to cut so many jobs when our country needs jobs? It wouldn't have anything to do with putting people in the streets for political reasons? Would it?
Posted by Santorini on Aug. 17 2011,9:17 pm
Exactly what jobs is it that the repubs are cutting???
Posted by Common Citizen on Aug. 17 2011,10:05 pm
(alcitizens @ Aug. 17 2011,9:09 pm)
QUOTE
(Common Citizen @ Aug. 17 2011,8:10 pm)
QUOTE
Because they know spending cuts would never happen. It was a trick question.
When billionaires and a President start saying "Look at me, I don't get taxed enough" and prove it, people should wake up and realize that our tax system works in favor of the wealthy.
Like I've said for years, tax the rich at the same tax rate as the middle class, problem solved..
I do realize that with the advances in technology that cuts can be made across the board..
My question to you is why do Republicans want to cut so many jobs when our country needs jobs? It wouldn't have anything to do with putting people in the streets for political reasons? Would it?
Is something stopping these so called wealthy people that you are saying are just dying to pay more taxes from cutting a check now?
You complain about jobs yet your President buys two buses worth over a million each from Canada. But go ahead...bitch about the Republicans.
Posted by alcitizens on Aug. 17 2011,10:19 pm
(Santorini @ Aug. 17 2011,9:17 pm)
QUOTE
Exactly what jobs is it that the repubs are cutting???
Don't be so stupid.. Cuts = Job Loss
Posted by Common Citizen on Aug. 18 2011,8:46 am
(alcitizens @ Aug. 17 2011,9:09 pm)
QUOTE
(Common Citizen @ Aug. 17 2011,8:10 pm)
QUOTE
Because they know spending cuts would never happen. It was a trick question.
When billionaires and a President start saying "Look at me, I don't get taxed enough" and prove it, people should wake up and realize that our tax system works in favor of the wealthy.
Like I've said for years, tax the rich at the same tax rate as the middle class, problem solved..
I do realize that with the advances in technology that cuts can be made across the board..
My question to you is why do Republicans want to cut so many jobs when our country needs jobs? It wouldn't have anything to do with putting people in the streets for political reasons? Would it?
Is something stopping these so called wealthy people that you are saying are just dying to pay more taxes from cutting a check now?
You complain about jobs yet your President buys two buses worth over a million each from Canada. But go ahead...bitch about the Republicans.
Posted by nedkelly on Aug. 18 2011,10:14 am
(Common Citizen @ Aug. 18 2011,8:46 am)
QUOTE
bitch about the Republicans.
I vote, and I can bitch, because that is the way our country works!!!!!!!!...
...ned
Posted by Santorini on Aug. 18 2011,10:24 am
(alcitizens @ Aug. 17 2011,10:19 pm)
QUOTE
(Santorini @ Aug. 17 2011,9:17 pm)
QUOTE
Exactly what jobs is it that the repubs are cutting???
Don't be so stupid.. Cuts = Job Loss
Typical left-wing democrat response
Just repeat rhetoric...nothing of substance...nothing detailed, just generalizations...got no answer so name-call instead! Nice
Posted by alcitizens on Aug. 18 2011,5:34 pm
(Santorini @ Aug. 18 2011,10:24 am)
QUOTE
Typical left-wing democrat response
Just repeat rhetoric...nothing of substance...nothing detailed, just generalizations...got no answer so name-call instead! Nice
Just repeat rhetoric...nothing of substance...nothing detailed, just generalizations...got no answer so name-call instead! Nice
Federal Reserve Chairman Ben Bernanke said Wednesday that a House Republican plan to cut $61 billion in federal spending this year would cut economic growth and cause job losses.
< http://www.usatoday.com/money...s_N.htm >
The measure would reduce real economic growth this year by 0.5 percentage points and by 0.2 percentage points next year, resulting in 700,000 fewer jobs by the end of 2012.
< http://www.bloomberg.com/news...ys.html >
Texas could see 335,000 jobs disappear over the next two years if lawmakers adopt the $83.8 billion budget that will go before the state House late next week, according to a state agency.
< http://money.cnn.com/2011...dex.htm >
Boehner: If Spending Cuts Cost Federal Workers Their Jobs, 'So Be It'
< http://www.politicsdaily.com/2011...bs-so-b >
Posted by Grinning_Dragon on Aug. 18 2011,7:14 pm
economic advice from BB the guy is a moron.So a few idiot govt workers get canned, oh boo hoo. Looks like they will have to go out and get real jobs in the private sector, the sector that ACTUALLY generates something, unlike govt that consumes.
Posted by Santorini on Aug. 18 2011,10:51 pm
(alcitizens @ Aug. 18 2011,5:34 pm)
QUOTE
(Santorini @ Aug. 18 2011,10:24 am)
QUOTE
Typical left-wing democrat response
Just repeat rhetoric...nothing of substance...nothing detailed, just generalizations...got no answer so name-call instead! Nice
Just repeat rhetoric...nothing of substance...nothing detailed, just generalizations...got no answer so name-call instead! Nice
Federal Reserve Chairman Ben Bernanke said Wednesday that a House Republican plan to cut $61 billion in federal spending this year would cut economic growth and cause job losses.
< http://www.usatoday.com/money...s_N.htm >
The measure would reduce real economic growth this year by 0.5 percentage points and by 0.2 percentage points next year, resulting in 700,000 fewer jobs by the end of 2012.
< http://www.bloomberg.com/news...ys.html >
Texas could see 335,000 jobs disappear over the next two years if lawmakers adopt the $83.8 billion budget that will go before the state House late next week, according to a state agency.
< http://money.cnn.com/2011...dex.htm >
Boehner: If Spending Cuts Cost Federal Workers Their Jobs, 'So Be It'
< http://www.politicsdaily.com/2011...bs-so-b >
alcitizen, get real
you are quoting an opinion by the gate keeper of the US economy!!! Get your head out of the clouds and try to remember that HE is the one at fault for the regulatory failures that helped caused this crisis we are in! HE is the one that orchestrated the bailouts of big banks and insurance companies!! NOW look at our economy
Because you quote something he said on a liberal network we are to suddenly believe he somehow got smart and that we should believe him!
Posted by alcitizens on Aug. 19 2011,8:55 am
(Santorini @ Aug. 18 2011,10:51 pm)
QUOTE
alcitizen, get real
you are quoting an opinion by the gate keeper of the US economy!!! Get your head out of the clouds and try to remember that HE is the one at fault for the regulatory failures that helped caused this crisis we are in! HE is the one that orchestrated the bailouts of big banks and insurance companies!! NOW look at our economy Because you quote something he said on a liberal network we are to suddenly believe he somehow got smart and that we should believe him!
you are quoting an opinion by the gate keeper of the US economy!!! Get your head out of the clouds and try to remember that HE is the one at fault for the regulatory failures that helped caused this crisis we are in! HE is the one that orchestrated the bailouts of big banks and insurance companies!! NOW look at our economy
Because you quote something he said on a liberal network we are to suddenly believe he somehow got smart and that we should believe him!Ben Bernanke was first appointed by President George W Bush and is a known Republican..
Posted by MADDOG on Aug. 19 2011,9:56 am
(alcitizens @ Aug. 19 2011,8:55 am)
QUOTE
Ben Bernanke was first appointed by President George W Bush and is a known Republican..
Yep, during his second term and Bernie was confirmed to a second term in 2010 after Obama nominated him. So what do you say about Bam-Bam?
Posted by alcitizens on Aug. 19 2011,10:54 pm
QUOTE
Greenspan's reputation has faltered along with the world economy, and hindsight-assisted evidence suggests that he turned a deaf ear to warnings of the housing and stock market bubbles that exploded after he left the Fed in 2006. In House hearings during the second month of the market meltdown of 2008, Greenspan testified that he had "found a flaw" in his market ideology, and conceded that he had been "partially" wrong in opposing regulation of derivatives.
Former Federal Reserve Chairman Alan Greenspan was appointed by President Ronald Reagan and is a known Republican..
He retired as Chairman after 18 years and four Presidents..
< http://www.nndb.com/people/164/000023095/ >
The Federal Reserve Chairman has pretty much had a Life Term due to market fears involved with the change of a Federal Reserve Chairman, just like how the stock of a company drops when the CEO resigns..
Posted by Santorini on Aug. 19 2011,11:15 pm
(alcitizens @ Aug. 19 2011,8:55 am)
QUOTE
(Santorini @ Aug. 18 2011,10:51 pm)
QUOTE
alcitizen, get real
you are quoting an opinion by the gate keeper of the US economy!!! Get your head out of the clouds and try to remember that HE is the one at fault for the regulatory failures that helped caused this crisis we are in! HE is the one that orchestrated the bailouts of big banks and insurance companies!! NOW look at our economy Because you quote something he said on a liberal network we are to suddenly believe he somehow got smart and that we should believe him!
you are quoting an opinion by the gate keeper of the US economy!!! Get your head out of the clouds and try to remember that HE is the one at fault for the regulatory failures that helped caused this crisis we are in! HE is the one that orchestrated the bailouts of big banks and insurance companies!! NOW look at our economy
Because you quote something he said on a liberal network we are to suddenly believe he somehow got smart and that we should believe him!Ben Bernanke was first appointed by President George W Bush and is a known Republican..
Yea!! He was a failure then and an even bigger failure now! As I said...why do you think we are in this mess...HE is to blame for the regulatory failures...HE is to blame for the bailouts of Wall Street, AIG, etc. Ya all like to blame Bush; the problem is the fed reserve!!! and Obama picking him up for a 2nd term was narrowly approved...(BOTH dems and repubs DID NOT WANT HIM) for another term; but Obama the economic idiot that he is needed to depend on someone
Posted by alcitizens on Aug. 19 2011,11:43 pm
Greenspan's reputation has faltered along with the world economy, and hindsight-assisted evidence suggests that he turned a deaf ear to warnings of the housing and stock market bubbles that exploded after he left the Fed in 2006. In House hearings during the second month of the market meltdown of 2008, Greenspan testified that he had "found a flaw" in his market ideology, and conceded that he had been "partially" wrong in opposing regulation of derivatives.Both Greenspan and Bernanke are Republicans.. Teabaggers are so stupid..
Posted by Santorini on Aug. 20 2011,12:11 am
(alcitizens @ Aug. 19 2011,11:43 pm)
QUOTE
Greenspan's reputation has faltered along with the world economy, and hindsight-assisted evidence suggests that he turned a deaf ear to warnings of the housing and stock market bubbles that exploded after he left the Fed in 2006. In House hearings during the second month of the market meltdown of 2008, Greenspan testified that he had "found a flaw" in his market ideology, and conceded that he had been "partially" wrong in opposing regulation of derivatives.
Both Greenspan and Bernanke are Republicans.. Teabaggers are so stupid..
Both Greenspan and Bernanke are Republicans.. Teabaggers are so stupid..
Your right! Greenspans philosophy was that
the market will correct itself!
Posted by Liberal on Aug. 20 2011,12:19 am
If you're going to get Santeria to understand you're going to have to use far more monosyllabic words.
Posted by Santorini on Aug. 20 2011,12:25 am
The deal is that people are scared! What is going on with the economy/ unemployment is scaring the heck out of people. No one knows how things will turn out. What we do know is that it is going to take generations to fix. People are begging for leadership. We do NOT have any leadership right now! People worry about meeting basic needs. And anytime the discussion of the economy, unemployment, the stock market come up our leader begins to discuss world affairs and other world leaders. We cant worry about what is happening in Samolia right now...we need to work and feed our families. It is like Maslows heirarchy of needs. First we need to take care of our most basic needs before we can move on to other things. With this basic pyramid our most basic needs are the base. Same with our government. We need to have the foundational base taken care of before we can move up the pyramid. But Obama has us all over the place on the pyramid! People are nervous...scared...uncertain. That is why for over 73% of the people the economy is the most important issue!