I just turned to the news....
Geez, I wonder how long it will be before most of us start feeling the effects of this downgrade?
It sure doesn't look good - and I'm thinking conservatives think they are going to be able to pin this on Obama!
They lowered it because congress didnt go far enough to shore up its finances. This is 100% on the fault of the Tea Party and Republicans. They needed to raise taxes on the wealthy and didnt. Now we have this!!!!!!!!!!! :soap
To bad there is no way to only include comments on a topic as important as this from folks who have even a limited amount of economic sense.
Geez, I wonder how long it will be before most of us start feeling the effects of this downgrade?
It sure doesn't look good - and I'm thinking conservatives think they are going to be able to pin this on Obama!
But - will the government listen?
It doesn't look like it. I see no evidence that we're going to change the direction of things - but a lot of evidence that the direction of thing swill continue full force.
For those who are interested, S&P has now posted its report explaining the downgrade decision. The report can be found at:
http://www.standardandpoors.com/ser...lobwhere=1243942957443&blobheadervalue3=UTF-8
We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the related
fiscal policy debate indicate that further near-term progress containing the
growth in public spending, especially on entitlements, or on reaching an
agreement on raising revenues is less likely than we previously assumed and
will remain a contentious and fitful process.
We also believe that the fiscal
consolidation plan that Congress and the Administration agreed to this week
falls short of the amount that we believe is necessary to stabilize the
general government debt burden by the middle of the decade.
Why are you guys tuning into 24/7 news - thinking to find some facts hidden in there?
They don't understand **** - the commentators or their 'research' teams.
They lowered it because congress didnt go far enough to shore up its finances. This is 100% on the fault of the Tea Party and Republicans. They needed to raise taxes on the wealthy and didnt. Now we have this!!!!!!!!!!! :soap
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.
For those who are interested, S&P has now posted its report explaining the downgrade decision. The report can be found at:
http://www.standardandpoors.com/ser...lobwhere=1243942957443&blobheadervalue3=UTF-8
Μολὼν λαβέ;1059716217 said::lamo
So raising taxes is the answer? It appears to me that paying down the debt is what's required to keep the AAA credit rating. Sorry friend, but this is Obama's legacy...
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