http://www.washingtonpost.com/business/e...print.html

Quote:S&P decided to lower the AAA rating, held by the United States for 70 years, to AA+ after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation’s growing spending.

But we did sooooo much to fix our debt problem!!!

Remember the lies we were told by Obama and the dems that our downgrade would be because we didn't raise the debt ceiling? Remember how those congressmen who were fighting for large spending cuts were called terrorists who wanted to blow up the economy? Now we see that we were downgraded, not because of the debt ceiling, but because of we didn't cut enough.

What say you liberals? Do you care that your president and the leaders of your party lied to you? Do you care that the out of control spending of your party and president, which has now almost topped all the debt GWB ran up in 8 years, has resulted in the downgrading of our country for the first time EVER?

What am I saying? Of course you don't care. Just bend over and beg for another one.

Can't really blame S&P. I mean, would YOU loan us money?

Downgrade and debt ceiling are two separate things. Debit Ceiling means we can borrow more. Downgrade is because there is doubt about the ability to repay. Because our idiot in Chief thinks we can spend as though deficits don't matter well the do. Debt that is at 100% of GDP shows our gubment is out of control.

(08-05-2011 08:03 PM)Smaug Wrote:  Can't really blame S&P. I mean, would YOU loan us money?

We'll always pay you back. It's just that the dollars we pay you back with may be completely worthless.

The idea is to throw the U.S. and all of Europe into fiscal crisis at once so that a "global orgranization" is required.

(08-05-2011 08:19 PM)Claw Wrote:  The idea is to throw the U.S. and all of Europe into fiscal crisis at once so that a "global orgranization" is required.

Cloward–Piven on an international scale.

OK, the Us has been downgraded to AA+. I guess Barry's threats of sending the DoJ and IRS after the Officer and Directors of S&P didn't work.

Here's the nuts and bolts:

http://img.en25.com/Web/StandardandPoors...edToAA.pdf

Probably need to cut some more taxes.

(08-05-2011 08:27 PM)Machiavelli Wrote:  Probably need to cut some more taxes.

You're such a fuggin idiot. you could double the taxes of every taxpayer and there will still be a 400 billion dollar deficit.

Your idiocy is offensive.

(08-05-2011 08:27 PM)Machiavelli Wrote:  Probably need to cut some more taxes.

It was said pretty clearly that it's spending that needs to be cut.

(08-05-2011 08:27 PM)Machiavelli Wrote:  Probably need to cut some more taxes.

Nope just add another round of stimulus spending to the base budget. Afterall it was very effective since it added lots of jobs (at $278K per job).

(08-05-2011 08:31 PM)Ninerfan1 Wrote:  

(08-05-2011 08:27 PM)Machiavelli Wrote:  Probably need to cut some more taxes.

You're such a fuggin idiot. you could double the taxes of every taxpayer and there will still be a 400 billion dollar deficit.

Your idiocy is offensive.

This.

(08-05-2011 08:27 PM)Machiavelli Wrote:  Probably need to cut some more taxes.

Spending.

Cut spending.

The timing has never been so ripe for tax reforms. If we could get some sensible people you could really make some reasonable reforms. I'm afraid only one side realizes it.

Spending.

Cut spending.

Our tax code is crazy. It's universally despised. Lower rates close loopholes. I wonder if the mortgage exception would survive?

Medi Care, SS, and DEFENSE....... LION SHARE OF THE BUDGET. What do you want to cut?

(08-05-2011 08:51 PM)Machiavelli Wrote:  Medi Care, SS, and DEFENSE....... LION SHARE OF THE BUDGET. What do you want to cut?

The whole enchilada. No sacred cows.

(08-05-2011 08:46 PM)Machiavelli Wrote:  The timing has never been so ripe for tax reforms. If we could get some sensible people you could really make some reasonable reforms. I'm afraid only one side realizes it.

Agreed:

1) ELIMINATE income taxes for businesses, tax wages paid to employees and dividends paid to investors.

2) Eliminate all deductions and have a single tax rate paid by all individuals.

3) Create a true social security trust fund with investments in private sector securities, not gubment IOU's.

4) No exceptions no loopholes eliminate all pandering to special interests.

It would be finally be a true tax reform not a wealth redistribution program.