U.S Credit Rating Has Been Downgraded

[Umaro]

Obama has spent more money than all presidents to date in less than 2yrs and wait until we get a punch in the stomach with Obama-care

Is it spending that Obama has done through policy changes, or spending that happened under his watch, such as the ongoing costs of the Iraq war? There's a difference.

 

[allhart]

Is it spending that Obama has done through policy changes, or spending that happened under his watch, such as the ongoing costs of the Iraq war? There's a difference.

U still will debate the facts.....ideas and actions have consequences.

 

[MachZer0]

Is it spending that Obama has done through policy changes, or spending that happened under his watch, such as the ongoing costs of the Iraq war? There's a difference.

Obama and the Democrats had control for two years. Any spending that they didn't eliminate in those two years now falls on their shoulders. The Blame bush game doesn't hold water

 

[Umaro]

Obama and the Democrats had control for two years. Any spending that they didn't eliminate in those two years now falls on their shoulders. The Blame bush game doesn't hold water

That seems somewhat disingenuous. Obama wanted to eleimintate the Bush tax cuts for instance, which would have lowered the debt a fair amount. The right threw a fit and used political pressure to get Obama to extend them. Now you're going to blame him for not being liberal enough to cut the spending? Or the wars, every time Obama wants to cut the defense budget, which was increased under Bush, the right is up in arms. Now you're going to say the spending is his fault because he wasn't liberal enough to resist your party's demands?


Also, didn't you just accuse me of counting Clinton's spending against Bush in this topic?

 

[sk8Joyful]

instead of jabbering uselessly re the bad & ugly;

maybe we'd accomplish more, discussing what is good...

 

[MachZer0]

That seems somewhat disingenuous. Obama wanted to eleimintate the Bush tax cuts for instance, which would have lowered the debt a fair amount. The right threw a fit and used political pressure to get Obama to extend them. Now you're going to blame him for not being liberal enough to cut the spending? Or the wars, every time Obama wants to cut the defense budget, which was increased under Bush, the right is up in arms. Now you're going to say the spending is his fault because he wasn't liberal enough to resist your party's demands?

Sounds like a failure of leadership to me.

Also, didn't you just accuse me of counting Clinton's spending against Bush in this topic?

No, I ASKED you if you were not going to charge soem of Bush's spending off on Clinton they way you charged off Obama's spending on Bush. Questions are not accusations

 

[MachZer0]

I guess this video clip is appropriate to play at this time.

April 19, 2011

Treasury Secretary Tim Geithner said Tuesday there is "no risk" the U.S. will lose its top credit rating amid a new analysis that revised its outlook on American debt to "negative."



"No risk of that, no risk,"

 

[Umaro]

Sounds like a failure of leadership to me.

So what would your opinion be if Obama had ended the Bush Tax cuts and drastically cut the military spending? Would you be happy with his leadership? Something tells me not....

 

[MachZer0]

So what would your opinion be if Obama had ended the Bush Tax cuts and drastically cut the military spending? Would you be happy with his leadership? Something tells me not....

I don't have to worry about it since he apparently doesn't have the leadership skills to carry out his own programs

 

[allhart]

Some people know how to spend money while at the same time don't know how to earn it.

 

[MachZer0]

Some people know how to spend money while at the same time don't know how to earn it.

We call them politicians, usually Democrat politicians

 

[[serious]]

Obama and the Democrats had control for two years. Any spending that they didn't eliminate in those two years now falls on their shoulders. The Blame bush game doesn't hold water

why not? The GOP was blaming clinton all the way up to year 8 and crediting Reagan for decades. Let us blame Bush at least for ongoing signature items like the Bush taxcuts and the iraq and afghanistan wars. You can keep blaming Clinton for Nafta and Obama for the patient protection act for as long as you like.

 

[okafor]

[]» S&P Drops U.S. Credit Rating to AA+ // Obama and Reid’s Crowning Achievement - Le·gal In·sur·rec·tion[/b]

Democrats own the downgrade. They fought Republicans and Tea Party supporters every step of they way, and forced a deal which was insufficient. They played class warfare and race politics against arguments that we needed to drastically change our spending habits.

This is Barack Obama and Harry Reid’s crowning achievement.


Yes Professor Jacobson, they own it, but even now they live in denial and have a thousand accusations against others. So, don't expect them to lpay attention, it's like talking to a wall.

 

[Incariol]

[]» S&P Drops U.S. Credit Rating to AA+ // Obama and Reid’s Crowning Achievement - Le·gal In·sur·rec·tion[/b]

Democrats own the downgrade. They fought Republicans and Tea Party supporters every step of they way, and forced a deal which was insufficient. They played class warfare and race politics against arguments that we needed to drastically change our spending habits.

This is Barack Obama and Harry Reid’s crowning achievement.


Yes Professor Jacobson, they own it, but even now they live in denial and have a thousand accusations against others. So, don't expect them to lpay attention, it's like talking to a wall.

Oh give it a rest, Okafor, it was pretty blatantly the Tea Party forcing Boehner to follow their own insane agenda holding up the process. This is self-evident to just about everyone here.

 

[Umaro]

I don't have to worry about it since he apparently doesn't have the leadership skills to carry out his own programs

So you're blaming him for spending on programs your party wants money spent on? Never change Republicans...never change.

 

[okafor]

The PJ Tatler » Now that S&P Has Downgraded US Credit, Tim Geithner Should Resign

Now that S&P Has Downgraded US Credit, Tim Geithner Should Resign
The facts are this: Under Treasury Secretary Tim Geithner, the United States has piled up more debt at a faster pace than at any other time in our history. Despite Geithner’s blithe promises back in April, when S&P first warned that a downgrade might be in the offing, a downgrade has now occurred. Today’s downgrade has been decades in the making, but the US government was specifically warned about it nearly four months ago, and the Obama administration failed to act.

Under Geithner’s watch, the United States has not had a national budget at all, and that includes two years when the party of his president controlled the White House and both houses of Congress. As Treasury Secretary, it was Geithner’s job to make the case that living without a national budget was reckless. The fact is, Geithner has offered no leadership at all. He should resign.

President Obama should consider resignation himself as well, or at least choose not to run for re-election. No US previous president has presided over a downgrading of US credit, through war and peace, growth and depression. Only Barack Obama has presided over the downgrading of US credit.


A nice thought, but don't expect them to suddenly be honorable.

 

[sdmsanjose]

First of all I am discusted that the bond raters can affect the economy. It was the bond raters that failed so miserably at their job in 2008 and before which helped this country go into an economic disaster. Are we supposed to trust the bond raters?

Secondly, we should all keep a very close eye on ALL the politicians that will be up for election in 2012. If the economy does not improve then I would encourage everyone to vote out those that are in office; both Republicans and Democrats. Either you are part of the solution or you are part of the problem.

Thirdly, I would encourage all to stop with the Republican and Democrat bashing or praising. Both parties at times have proven that they cannot be trusted to look out for the interest of the American people. At times both parties have done well for America but they must be made aware that we are going to grade them just like all of us are graded. We produce positive results at our job and we keep our job and, maybe get a raise. We produce negative results and we get fired. Why should our politicians be treated differently?

Don’t be loyal to a Republican or a Democrat, be a loyal voter for RESULTS!

All politicians can do well but I would like to see a new party; not the Tea Party, Democrat party, or Republican Party. I would like to see the RESULTS party!!!

 

[stelow]

It might not be that big of a deal, we are just going through something, we never had to go through before, we'll just have to see how things go from here. We have a large majority of Congress and in the Administration who are displaying that they have an addiction to money and power, now they've been given a warning, that people are noticing, there is a problem.
Addictions are hard to break, especially when the propensity to continue the status-quo is going to be very appealing, and when the consequences aren't going to directly effect you.

 

[Amiga1200]

Look, as long as the Bush cuts are allowed to expire in full... most of the debt is meliorated by the middle of the decade. Even then, did anyone do that NYTimes budget puzzle back in November (they had a laundry list of previously proposed tax increases and/or budget cuts)? It wasn't hard at all to balance the budget, nor was it hard to do so without significant cuts to entitlements. In fact, I had surpluses lined up as far as the eye could see - surpluses I would have spent increasing our near-world-worst entitlements (yes, they are much LOWER than most of the first world despite our nation having greater poverty and lower upward mobility statistically).

Of course, I'm a radical Socialist, so I checked the millionaire's surtax (the horror the horror) and a rollback of cap gains rates to the Clinton era. Oh, well, when one party is essentially Murray Rothbard but without his social libertarianism, and the other party is full of spineless "centrists", you end up with a nation unable to fix its massive problems (aging or obsolete infrastructure, declining wages on the bottom end, first world's most inefficient healthcare delivery, etc...), unable to raise revenue even when its at a 60-year low, and unable to realize that cake can only be eaten, and not stored except in its ultimate form of excrement.

 

[okafor]

The American Spectator : AmSpecBlog : Obama Lied, America's Credit Rating Died

Another exciting historic first for President Obama!

The venerable Standard & Poor's has officially downgraded the U.S. government's credit rating from AAA to AA-plus for the first time ever.
Obama and the Democrats and a chorus of economic illiterates promised that the phony spending reductions in the debt ceiling increase deal would preserve the federal government's creditworthiness. Republicans for the most part fell for Obama's lies and caved after only a brief period of holding out.
The great unraveling, so long predicted by those who grasp the iron truths of economics, has begun.

Only fools and partisans will blame the Tea Party for the downgrade.


Hmm..."Only fools and partisans will blame the Tea Party." I'd say that just about covers it.