US credit downgraded

[347Mike]

Agreed



Ultimately I feel that it's all of our fault collectively. It's our grand parents generation's fault, our parent's generations fault. Your fault, my fault.

When was the last time a group of regular people started a movement that truly brought a change for the better to this nation?

We're 300 million people apathetic to the assfucking our elected representatives and corporate overlords have been dealing us for decades.

We've strayed from the constitution and political activism to stick our heads in the sand with the rest of the herd. People were more concerned about whether there was going to be a fucking football season than a full-on economic collapse.

For fuck's sake jerkoffs like Michele Bachman and Sarah Palin are debated as serious presidential contenders. A war hero with years of political experience got beat in an election by a guy with little experience whose middle name is HUSSEIN...really, REALLY you gotta be shitting me. It's like we're living in a real life Twilight-Zone.

No one is actually doing shit about it. We're all waiting for some savior to come along and rescue us. No one is coming, only WE can fix this, what are we gonna do?

FUCK - how do we save America???

Yeah, I see that too but who allocates the tax dollars, who controls just about everything? It sure as hell isn't a little ole me.

The point I am making is I make shit ton of sacrifices on a daily basis for the "larger" picture, so this rubs me slightly the wrong way. The last thing I want to hear from anyone is how 'we' need to change our ways and the free ride is over.

But I am assuming I am the minority when it involves this particular topic.

[Jimbo]

I wonder how the libs will swing this and turn it against the Republicans.

http://www.huffingtonpost.com/robert-l-cavnar/sp-downgrade-tea-party-wi_b_920016.html

The Republicans, led by the Tea Party, have finally succeeded in another step in their quest to wreck the US economy, oddly believing that it will help them win the 2012 election. Their slash and burn, no-revenue dogma that won out in the manufactured debt crisis that came to a head last Monday failed at the one goal it should have set for themselves; that is, to calm the markets and provide assurance of the strength of the US economy. Their 24/7 assault on the economy and job recovery, all in the name of taking down the President, only succeeded in inflicting the damage that business leaders, banks, and the Treasury begged them not to do.

We are now reaping what the Republican Congress has sown. Not only are the markets jittery after the plunge of worldwide markets yesterday, we were just rewarded with a nice weekend starter: S&P just downgraded US debt from AAA to AA+ with a negative outlook. Explaining the downgrade, S&P said,

"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."

"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."

"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."

Bloomberg is also reporting that S&P changed its assumption that the 2001 and 2003 tax cuts would expire by the end of 2012, "because the majority of Republicans in Congress continue to resist any measure that would raise revenues."

The White House has already challenged the downgrade, and even the math leading to it. Moody's and Fitch, the other ratings agencies have stood their ground on maintaining their ratings, at least for now. However, no one can argue with S&P's premise that the gridlock created by intransigence on the part of the Tea Party contributed to this downgrade. Also, their negative outlook on our ability to end that gridlock can also be well understood if the last several months are any indication. Clearly, the brinksmanship played by the Tea Party on our debt simply doesn't work. Don't look for it to change any time soon, though.

Watch this weekend for the GOP, led by the Tea Party, to blame the President and the Dems for this downgrade, completely ignoring the gridlock created by them in all manner of policy and law making.

[Jimbo]

Of course, pelosi and biden have already been calling the Tea Party terrorists, and kerry wants to the news to sensor Tea Party ideas, so its really no suprise the huffington post is spewing nonsense on this.

[Hobie]

The partisan divide in politics has became like sports for people. They don't care what scumbag is on the team, they don't care how they do it, they just want to win at all costs.

The same people that bitched at Bush supporters because they had blind allegiance to a man and failed to evaluate him for his decisions are now the people that have that same blind faith towards Obama.

Citizens left and right don't care about what happens to this country, they just want their fucking team to win. Meanwhile both sides of the aisle have screwed the pooch.

[Hobie]

Yeah, I see that too but who allocates the tax dollars, who controls just about everything? It sure as hell isn't a little ole me.

The point I am making is I make shit ton of sacrifices on a daily basis for the "larger" picture, so this rubs me slightly the wrong way. The last thing I want to hear from anyone is how 'we' need to change our ways and the free ride is over.

But I am assuming I am the minority when it involves this particular topic.

Ultimately it's up to us to hold them accountable. It's still "We the people" isn't it?

Managing my own life is a given. I don't deserve any credit for doing what I'm supposed to. We've been disconnected for too long. Now it's time for us to do something extra to make things right again.

I certainly don't feel as if I'm educated enough. I need to learn more, then I need to do something with that knowledge. I feel like if I don't, if we all don't, this whole thing is going to slip away right before our eyes.

[big_tiger]

^^^
lol The comments in there are crazy.

All of the repubs should pat themselves on the back for this.

[stevo]

When was the last time the dems passed a budget? '09?

Yeah, had nothing to do with that.

Stevo

[Forever_frost]

And the fact that almost 40% of the total debt is Obama's alone

[big_tiger]

This should help stir up more support for the balanced budget amendment. I saw Paul Ryan on Hannity (Last week) say that the budget they passed forces a vote in the senate on the amendment. I haven't heard anything about that since.

[Denny]

We'll be in for a ride on Monday!

Honestly, I'm shocked. Shocked that it took this long. Pointing blame at this point is totally stupid; even more stupid to argue about it. It doesn't even matter if we come up with "what ifs" on hind sight and solutions to fix it.

What each and every one of you should be doing is how to start protecting the best interest of you and yours. Is this going to throw everything into complete chaos? I don't think so, but the ball has been rolling on this impending economic collapse and it just shifted gears, picking up speed. Protect YOU!

[Slammy]

The partisan divide in politics has became like sports for people. They don't care what scumbag is on the team, they don't care how they do it, they just want to win at all costs.

The same people that bitched at Bush supporters because they had blind allegiance to a man and failed to evaluate him for his decisions are now the people that have that same blind faith towards Obama.

Citizens left and right don't care about what happens to this country, they just want their fucking team to win. Meanwhile both sides of the aisle have screwed the pooch.

wow thats what ive been saying for awhile now. People now treat it like its a fucking sports game and just want to "beat the other guys" at any cost. Last time i checked they are all americans, and so far there have been no winners.

"Oh thats a democrat idea, i could never support it!" Who gives a shit what party came up with what if its a good idea. I mean everytime a politician votes outside his party cause he believes in something he gets lynched, wtf is up with that?

[Avery'sDad]

And the fact that almost 40% of the total debt is Obama's alone

Really?

http://graphics8.nytimes.com/images/2011/07/24/opinion/sunday/24editorial_graph2/24editorial_graph2-popup.gif

[Vertnut]

Really?

http://graphics8.nytimes.com/images/...aph2-popup.gif

LOL! Please don't believe that horseshit chart.

Barry's already spent $4 trillion...in two years.

[SlowLX]

LOL! Please don't beleive that horseshit chart.

Barry's already spent $4 trillion...in two years.

FROM 2009
lulz at "halving" the deficit by the end of his term.

http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

[Broncojohnny]

I just think it is funny that a tax cut is a "cost". That is what you get when you read the NY Times though, a bunch of fucking idiot liberals who think government spending just can't be stopped and will cry all over the TV and accuse you of being a "terrorist" if you dare to stop it.