Woo-Hoo we're on a roll now. Yee-Ha! Edit - Dow sinks

[musclehead]

People have a nasty habit called eating. Lets just do way with all of this country's so called safety nets such as SS Medicaid and Medicare, Food programs and ship all those that start to show signs of starvation to Somalia. A few million more lazy good for nothing famine victims won't matter. Lets do away with public education, they teach nothing but communist lies. We need to start running this country like a business. We need cheap labor to compete with China. Whats so important about the eviroment that we need to keep it so clean? You can now buy bottled water can't you? If you can't afford a air filter in your home you deserve  respiratory infections. Wake up people!

wandering the desert in search of a thought? thats the most rambling group of sentences I've seen you utter.

what's your point?

[musclehead]

The ignore feature is such a blessing on a thread like this. 

The market tanks and the regine/dems/libs blame the ones who were against raising our debt limit. If it went way up, those same nitwits would be taking all the credit that adding to our debt is such a good thing.

When you're in a hole, you need a ladder (balanced budget), not a shovel (more debt).

All the best,

Mark

Obama and the dems aren't using a shovel, this isn't a works program 

he's fired up that cat 3900 excavator, gonna dig to china!

[Bobbo]

The ignore feature is such a blessing on a thread like this. 

The market tanks and the regine/dems/libs blame the ones who were against raising our debt limit. If it went way up, those same nitwits would be taking all the credit that adding to our debt is such a good thing.

When you're in a hole, you need a ladder (balanced budget), not a shovel (more debt).

All the best,

Mark

Obama and the dems aren't using a shovel, this isn't a works program 

he's fired up that cat 3900 excavator, gonna dig to china!

Why didn't we discuss this when Bush and Reagan raised it multiple times?

[RoadKill]

The ignore feature is such a blessing on a thread like this. 

The market tanks and the regine/dems/libs blame the ones who were against raising our debt limit. If it went way up, those same nitwits would be taking all the credit that adding to our debt is such a good thing.

When you're in a hole, you need a ladder (balanced budget), not a shovel (more debt).

All the best,

Mark

Obama and the dems aren't using a shovel, this isn't a works program 

he's fired up that cat 3900 excavator, gonna dig to china!

Why didn't we discuss this when Bush and Reagan raised it multiple times?

Did they exceed the GDP ?   ???

[PAVALKER]

The ignore feature is such a blessing on a thread like this. 

The market tanks and the regine/dems/libs blame the ones who were against raising our debt limit. If it went way up, those same nitwits would be taking all the credit that adding to our debt is such a good thing.

When you're in a hole, you need a ladder (balanced budget), not a shovel (more debt).

All the best,

Mark

Obama and the dems aren't using a shovel, this isn't a works program 

he's fired up that cat 3900 excavator, gonna dig to china!

Why didn't we discuss this when Bush and Reagan raised it multiple times?

Wasn't it a Democratic Congress then???        Or for a good part of it at least.

[alph]

Why didn't we discuss this when Bush and Reagan raised it multiple times?

OH BELIEVE ME!  I was quite ticked off when Reagon took us to the FIRST TRILLION!!!  saddly, it seems that only Bill Clinton was able to "flatten" out the upward shooting of debt.

[x]

Why is the DOW sinking anyway?

Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.

[Chattanooga Mark]

One of the reasons I think Bush was a lousy president is that he spent money like a drunken sailor. This new clown makes W look downright thrifty.

Mark

[hubcapsc]

Why is the DOW sinking anyway?

Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.

... and we hate babies too! Don't forget that! You can't stop us now BWAHAHAHAHA...

Many of the politicians, from the President on down, called each other names and explicitly stated that each other
had the lowest of motivations, much as SE has learned to do. These are the ones we need to vote out of office...

-Mike

[alph]

Why is the DOW sinking anyway?

Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.

Alright, I’ve got to ask, WHY IS IT ALWAYS THE REPUBLICANS FAULT?

I’ve got a brother that had his house foreclosed on (several years ago).  He couldn’t say NO to her spending habits, and she wouldn’t get a job!  Now, whose fault was it that they lost their house??  In their eyes, neither!  They blame it on the BANK!!  Seems to me we’ve got the same thing going on here.  People like SE will blame one party, all the time, when THEY’RE BOTH AT FAULT!!  The problem is, “the world” is the “banker” and from what I see, none of them offer their people the freedom that this country offers, so if you DON’T want to loose your freedom, you’re not going to want to loose your country.  (it IS that serious.)

[DarkMeister]

(snippety-doodah...) 


World Tells Us What It Really Thinks About Our 'Absurd' Debt Crisis


News outlets today, no doubt exhausted from aggregating the reactions of angry American pushed over the edge with aggravation over the debt ceiling debate, have now turned to aggregating the angry reactions of the world at large. Things don't look great from inside the country; it turns out they don't look that great from outside, either. Consider the commentary from abroad:
 
The UK: "Even by the notoriously fractious standards of Capitol Hill, the high-stakes game of brinkmanship playing out over the debt crisis has looked like a political system gone mad," indicates an editorial in the Telegraph. "nternational confidence in America’s ability to resolve its problems has fallen to an all-time low... Two centuries of accumulated advantage risk being squandered in a few months of political insanity." And Richard Adams at Guardian adds: [A]ppeals to common sense are of little use..."
 
Germany:  “What America is currently exhibiting is the worst kind of absurd theatrics and the whole world is being held hostage… Most importantly, the Republicans have turned a dispute over a technicality into a religious war, which no longer has any relation to a reasonable dispute between the elected government and the opposition,” writes the German mass-circulation Bild, (via Think Progress).
 
France:  "The American politicians supposed to lead the most powerful nation in the world are becoming a laughing stock,” -- notes Le Monde (via Think Progress).
 
Russia: "itterly partisan," described The Moscow Times, quoting one anonymous investor as saying ""if the U.S. debt situation is not solved we are all screwed — there will be no winners and losers."
 
Europe, generally: “One could now ask why is the U.S. debt treated any better than a country like Portugal, which has about the same levels of deficit and debt,” said a senior European policymaker to the Times, on condition of anonymity.
 
China: We've discussed how China's state run media has been heckling us over the debt ceiling. In short, as The New York Times reports, Xinhua said the “irresponsible” brinksmanship in Washington risked “strangling the still fragile economic recovery of not only the United States but also the world as a whole.”
 
India: "An acrimonious stalemate, with both sides offering competing plans that are unlikely to win bipartisan support" describes the Times of India.

[G-Man]

Big Al  

Unfortunately there are those that believe in a free lunch.  They voted the last time and they're still around.

well it's not so much the free lunch as it is the free healthcare,condoms,cellphones,scooterchairs,diabetic supplies,heatingassistance,coolingassistance,debtrelief,and other sundry items

Here in NY State, it's not ONLY free lunch, we feed school children breakfast as well.  People have children they can't afford and the rest of us have to feed them at least 2 meals per day.  When I was in high school, in the NYC public school system, EVERYBODY got free lunch.  There were those who got it legit by being in a family that earned under a certain amount, then there was the rest who got handed a ticket for just walking into the cafeteria and asking for one. 

[G-Man]

Why didn't we discuss this when Bush and Reagan raised it multiple times?

I hear this every day.  It had to become an issue at some point.  There had to be a limit.  No matter who was President at THIS POINT IN TIME, it would have been an issue.  We've reached the point where we can longer pay the debt down, just service it.  If not now, then when?

[The Anvil]

Alright, I’ve got to ask, WHY IS IT ALWAYS THE REPUBLICANS FAULT?

For the same reason why it's always the Dems fault when you ask the other guy. 

[Bobbo]

Why didn't we discuss this when Bush and Reagan raised it multiple times?

I hear this every day.  It had to become an issue at some point.  There had to be a limit.  No matter who was President at THIS POINT IN TIME, it would have been an issue.  We've reached the point where we can longer pay the debt down, just service it.  If not now, then when?

Then we should have stopped it years ago, instead of letting it escalate into a crisis.  I think Obama was against a debt ceiling raise when he was a senator...  Can someone correct me if I'm wrong on that point?!   

[Bobbo]

Wasn't it a Democratic Congress then???        Or for a good part of it at least.

It's funny how partisans will always find a way to blame/honor their foes/heroes.

Good things during Clinton years:
Democrat- President Clinton led us to victory!
Republican- The House/Senate Republicans led us to victory!

Bad things during Clinton years:
Democrat- The House/Senate Republicans are trying to destroy the country!
Republican-  President Clinton is trying to destroy the country!

etc...  for every other presidency.

[solo1]

Evidently, I didn't make myself clear. When I was growing up, a 'free lunch' meant any kind of a handout to people undeserving or unwilling to work .

The people deserving help through no fault of their own, didn't want help.

It was even thought that Social Security was a form of forced savings that would be there when retiring.

Things are vastly different now than when I was raised in the '30's Great Depression.

[x]

Why is the DOW sinking anyway?

Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.

... and we hate babies too! Don't forget that! You can't stop us now BWAHAHAHAHA...

Many of the politicians, from the President on down, called each other names and explicitly stated that each other
had the lowest of motivations, much as SE has learned to do. These are the ones we need to vote out of office...

-Mike

I see you didn't have anything to say about the message... just a bit of character assassination.

[x]

Why is the DOW sinking anyway?

Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.

Alright, I’ve got to ask, WHY IS IT ALWAYS THE REPUBLICANS FAULT?

It was the Tea Party's fault through and through.  Why?  Because while they called themselves 'fiscally responsible' they are actually fiscally irresponsible.  They focused on one segment of the economic picture, while ignoring other, even more important issues.

They completely ignored the warnings about what the world markets would think about the kind of brinkmanship they were playing, and the markets have reacted.
 
They completely ignored the warnings from economists that austere cuts would prolong the recession and even create a double dip.  The markets have reacted by selling off companies because investors see a recession coming.
 
They completely ignored the fact that the only real way that the government will pay down the debt is with increased revenues that come from increased employment.  Instead, they have virtually guaranteed high unemployment and recession like conditions for years to come.  And flat tax revenues for years to come.
 
They have absolutely refused to put realistic tax increases, and close loopholes on the richest 5 percent and on corporations... things that Reagan did.  The Tea Party's sanctimonious bleating about deficit reduction falls rather short when a sure way to deficit reduction is a tax increase.
 
They ignore the fact that under both Reagan and Clinton, the country experienced solid growth with tax increases.

[G-Man]

Why didn't we discuss this when Bush and Reagan raised it multiple times?

I hear this every day.  It had to become an issue at some point.  There had to be a limit.  No matter who was President at THIS POINT IN TIME, it would have been an issue.  We've reached the point where we can longer pay the debt down, just service it.  If not now, then when?

Then we should have stopped it years ago, instead of letting it escalate into a crisis.  I think Obama was against a debt ceiling raise when he was a senator...  Can someone correct me if I'm wrong on that point?!   

You are 100% correct in saying Obama voted against it.  But NOW, he is crying that he made a mistake by voting against it.  So which way do you want it Bobbo?  That he voted against it, or that he said he made a mistake voting against it.  Pick one.........

[Bobbo]

Why didn't we discuss this when Bush and Reagan raised it multiple times?

I hear this every day.  It had to become an issue at some point.  There had to be a limit.  No matter who was President at THIS POINT IN TIME, it would have been an issue.  We've reached the point where we can longer pay the debt down, just service it.  If not now, then when?

Then we should have stopped it years ago, instead of letting it escalate into a crisis.  I think Obama was against a debt ceiling raise when he was a senator...  Can someone correct me if I'm wrong on that point?!   

You are 100% correct in saying Obama voted against it.  But NOW, he is crying that he made a mistake by voting against it.  So which way do you want it Bobbo?  That he voted against it, or that he said he made a mistake voting against it.  Pick one.........

Pick one?  Both of your choices are true.  Obama voted against a debt ceiling raise, then later said that vote was a mistake.

[G-Man]

And this time he wanted it.  So he's flip flopping.

I agree that the debt ceiling should have been under control way back when, but it wasn't.  Now, thanks to the TEA party, there is some real thinking about our future.  I liken the TEA party to brakes on a car.  It needed to be stopped.  It wasn't done before, but it's being done now, or attempting to be done now.  At some point it needed to be done, if not now, then when?

[The Anvil]

Now, thanks to the TEA party, there is some real thinking about our future.

Obsessing over our past is more like it.

[Bobbo]

And this time he wanted it.  So he's flip flopping.

I agree that the debt ceiling should have been under control way back when, but it wasn't.  Now, thanks to the TEA party, there is some real thinking about our future.  I liken the TEA party to brakes on a car.  It needed to be stopped.  It wasn't done before, but it's being done now, or attempting to be done now.  At some point it needed to be done, if not now, then when?

It's hard to say, but those brakes may have been applied after the car has driven off the cliff.  ...and it wasn't just the current administration driving the car.

[The Anvil]

And this time he wanted it.  So he's flip flopping.

I agree that the debt ceiling should have been under control way back when, but it wasn't.  Now, thanks to the TEA party, there is some real thinking about our future.  I liken the TEA party to brakes on a car.  It needed to be stopped.  It wasn't done before, but it's being done now, or attempting to be done now.  At some point it needed to be done, if not now, then when?

It's hard to say, but those brakes may have been applied after the car has driven off the cliff.  ...and it wasn't just the current administration driving the car.

What the Mea Party people and Republicans can't understand is that people not on their side of the "fence" find all of the stuck-pig squealing over the debt to be curiously timed. To say their sudden concern is dubious would be an understatement. You want to be fiscally responsible? Well that's fine, but you need to be consistent in your beliefs. Where was the whining about spending and the debt limit when it was their hand-picked monkey who was doing it?

So even when they're right I'm not quick to trust that their motive is genuine concern for the future of our country. In fact, I think it's total horseshit.

[Serk]

Anvil - Here's what you're missing and why your argument falls apart. You're making the assumption that the Tea Party movement is an offset of the Republican Party. It's not. Many of us who align ourselves with the beliefs of the Tea Party aren't Republicans, and never have been. So, it wasn't our "hand-picked monkey" that previously hosed this country over. Yes, "we" are guilty for having waited too long before waking up to the calamity and working towards stopping it, but nothing more than that...

That's not to say there aren't people who are or were Republicans associated with the Tea Party movement. There are also people associated with the Democrats, the Libertarians, and about every other party that now feel they align with the goals of the Tea Party movement.

(And, of course, that's not to say the mainstream Republican Party wouldn't DEARLY love to hijack the Tea Party Movement and make it it's own, I think they fear "us" even more than the Democrats do...)

[The Anvil]

Anvil - Here's what you're missing and why your argument falls apart. You're making the assumption that the Tea Party movement is an offset of the Republican Party. It's not. Many of us who align ourselves with the beliefs of the Tea Party aren't Republicans, and never have been. So, it wasn't our "hand-picked monkey" that previously hosed this country over. Yes, "we" are guilty for having waited too long before waking up to the calamity and working towards stopping it, but nothing more than that...

That's not to say there aren't people who are or were Republicans associated with the Tea Party movement. There are also people associated with the Democrats, the Libertarians, and about every other party that now feel they align with the goals of the Tea Party movement.

(And, of course, that's not to say the mainstream Republican Party wouldn't DEARLY love to hijack the Tea Party Movement and make it it's own, I think they fear "us" even more than the Democrats do...)

I get that Serk, and I believe that the Tea Party in it's early incarnation WAS a grassroots organization with good intentions. But I think the the far right of the Republican party long ago hijacked the Tea Party with money and turned it into the Mea Party. Did they create a monster that even now wish they could kill? Oh sure, you could say that. But if wishes were nickels...

And let's face it; if you're in the Tea Party you were never really on the left of center. You may have been a moderate who got pushed off the wall, but you (and I mean "you" in the general sense) weren't a liberal. But I'm fairly certain that if you were to break down current Tea Party membership's voting record in the last several elections then a clear pattern would emerge.

[..]

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8684094/Fannie-Mae-to-ask-US-Treasury-for-5bn.html

[Trynt]

Why is the DOW sinking anyway?

Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.

So two rounds of quantitative easing and our soon to be 16 trillion dollar debt hasn't undermined the confidence in the U.S. dollar, its the TEA party? Threre, there S.E. you just keep telling yourself that's true, it helps feed YOUR extremist ideology.

[Tropic traveler]

Why is the DOW sinking anyway?

Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.

Alright, I’ve got to ask, WHY IS IT ALWAYS THE REPUBLICANS FAULT?

It was the Tea Party's fault through and through.  Why?  Because while they called themselves 'fiscally responsible' they are actually fiscally irresponsible.  They focused on one segment of the economic picture, while ignoring other, even more important issues.

They completely ignored the warnings about what the world markets would think about the kind of brinkmanship they were playing, and the markets have reacted.
 
They completely ignored the warnings from economists that austere cuts would prolong the recession and even create a double dip.  The markets have reacted by selling off companies because investors see a recession coming.
 
They completely ignored the fact that the only real way that the government will pay down the debt is with increased revenues that come from increased employment.  Instead, they have virtually guaranteed high unemployment and recession like conditions for years to come.  And flat tax revenues for years to come.
 
They have absolutely refused to put realistic tax increases, and close loopholes on the richest 5 percent and on corporations... things that Reagan did.  The Tea Party's sanctimonious bleating about deficit reduction falls rather short when a sure way to deficit reduction is a tax increase.
 
They ignore the fact that under both Reagan and Clinton, the country experienced solid growth with tax increases.

My, my, my, Once again I must ask our great resident board liberal know it all the $64,000 question.... Did you or do you plan to pay a little more of your income than you are required to your beloved Federal Gov't?? You know, have your accountant figure your tax rate at one of the prefered higher rates? It seems the horrible "Bush Tax Cut" rates are so distasteful to you & Lord knows the Feds need all the extra money you can give!  You CAN pay more you know.

Hypocrites, all you liberals.  Hard to take anything you say seriously if you don't put YOUR money where YOUR mouth is.

Bet I STILL don't get an answer. 

[Chattanooga Mark]

The AAA credit rating for the US was just downgraded to AA+. NOT because we don't tax enough. Because we SPEND too much. If you actually confiscated 100% of the richest Americans total wealth, you would only have enough spending money to run the country for 18 days.

The biggest problem I had with the Bush tax cuts is they removed 10 Million taxpayers from the roles. Anyone who thinks "the rich need to pay their fair share" are simply stupid or worse, they're out right liars. Just like in your household, it's not how much money you earn, it's how much money it takes you to live that matters.
 The TEA Party wants the government to only spend what they take in. And people call them the problem. I guess the education system in this country is even worse than I thought.

Mark

[Bob E.]

The AAA credit rating for the US was just downgraded to AA+. NOT because we don't tax enough. Because we SPEND too much. If you actually confiscated 100% of the richest Americans total wealth, you would only have enough spending money to run the country for 18 days.

The biggest problem I had with the Bush tax cuts is they removed 10 Million taxpayers from the roles. Anyone who thinks "the rich need to pay their fair share" are simply stupid or worse, they're out right liars. Just like in your household, it's not how much money you earn, it's how much money it takes you to live that matters.
 The TEA Party wants the government to only spend what they take in. And people call them the problem. I guess the education system in this country is even worse than I thought.

Mark

Actually, if you read the statement from S&P, the downgrading has little to do with the economics and a whole lot to do with the political brinksmanship carried on by the far-right, and the promises of future brinksmanship by republican leaders like McConnell, Boehner, and Cantor.  Furthermore, the statement goes on to state the fact that increasing revenues which would help reduce the deficit is less likely due to the republican intransigence against tax increases, and that the rating could be restored if the tax cuts for high-earners are allowed to lapse in 2013 as scheduled.

[RoadKill]

The AAA credit rating for the US was just downgraded to AA+. NOT because we don't tax enough. Because we SPEND too much. If you actually confiscated 100% of the richest Americans total wealth, you would only have enough spending money to run the country for 18 days.

The biggest problem I had with the Bush tax cuts is they removed 10 Million taxpayers from the roles. Anyone who thinks "the rich need to pay their fair share" are simply stupid or worse, they're out right liars. Just like in your household, it's not how much money you earn, it's how much money it takes you to live that matters.
 The TEA Party wants the government to only spend what they take in. And people call them the problem. I guess the education system in this country is even worse than I thought.

Mark

Actually, if you read the statement from S&P, the downgrading has little to do with the economics and a whole lot to do with the political brinksmanship carried on by the far-right, and the promises of future brinksmanship by republican leaders like McConnell, Boehner, and Cantor.  Furthermore, the statement goes on to state the fact that increasing revenues which would help reduce the deficit is less likely due to the republican intransigence against tax increases, and that the rating could be restored if the tax cuts for high-earners are allowed to lapse in 2013 as scheduled.

So basically S&P dont care where the money comes from as long as it comes . We should be more concerned with where it is going than who the Gov't can extort cash from next !

[Bob E.]

The AAA credit rating for the US was just downgraded to AA+. NOT because we don't tax enough. Because we SPEND too much. If you actually confiscated 100% of the richest Americans total wealth, you would only have enough spending money to run the country for 18 days.

The biggest problem I had with the Bush tax cuts is they removed 10 Million taxpayers from the roles. Anyone who thinks "the rich need to pay their fair share" are simply stupid or worse, they're out right liars. Just like in your household, it's not how much money you earn, it's how much money it takes you to live that matters.
 The TEA Party wants the government to only spend what they take in. And people call them the problem. I guess the education system in this country is even worse than I thought.

Mark

Actually, if you read the statement from S&P, the downgrading has little to do with the economics and a whole lot to do with the political brinksmanship carried on by the far-right, and the promises of future brinksmanship by republican leaders like McConnell, Boehner, and Cantor.  Furthermore, the statement goes on to state the fact that increasing revenues which would help reduce the deficit is less likely due to the republican intransigence against tax increases, and that the rating could be restored if the tax cuts for high-earners are allowed to lapse in 2013 as scheduled.

So basically S&P dont care where the money comes from as long as it comes . We should be more concerned with where it is going than who the Gov't can extort cash from next !

Actually, no.  What they are explicitly saying is that the risk of default has gone up because some in congress are willing to use it as a bargaining chip for ideaological and political gain when this has never been the case in all of the times the debt ceiling has been raised since first enacted in 1917 (I think that was the year).  Also, they are acknowledging that we do have a debt problem that we need to address.  However the outlook for growth in our economy, and therefore reduced deficits, has been hampered by the significant spending cuts enacted this year between the budget and now the debt deal, rather than increasing revenues.  They are recognizing the fact that cutting spending in a down economy results in fewer jobs, slower growth, and increases the risk of falling back into a recession, all of which reduces revenues and consequently increases deficits and debt in a viscious cycle that feeds on itself.

[Chattanooga Mark]

Bob E,

     You sir, with your blind and hateful partisanship are a big part of our country's problem. Congratulations, I guess, you've joined the ranks of the Boob and the Bird.

Mark

[Bob E.]

Bob E,

     You sir, are a big part of the problem.

Mark

How so?  I merely summarized some statemements from S&P.

[RoadKill]

The AAA credit rating for the US was just downgraded to AA+. NOT because we don't tax enough. Because we SPEND too much. If you actually confiscated 100% of the richest Americans total wealth, you would only have enough spending money to run the country for 18 days.

The biggest problem I had with the Bush tax cuts is they removed 10 Million taxpayers from the roles. Anyone who thinks "the rich need to pay their fair share" are simply stupid or worse, they're out right liars. Just like in your household, it's not how much money you earn, it's how much money it takes you to live that matters.
 The TEA Party wants the government to only spend what they take in. And people call them the problem. I guess the education system in this country is even worse than I thought.

Mark

Actually, if you read the statement from S&P, the downgrading has little to do with the economics and a whole lot to do with the political brinksmanship carried on by the far-right, and the promises of future brinksmanship by republican leaders like McConnell, Boehner, and Cantor.  Furthermore, the statement goes on to state the fact that increasing revenues which would help reduce the deficit is less likely due to the republican intransigence against tax increases, and that the rating could be restored if the tax cuts for high-earners are allowed to lapse in 2013 as scheduled.

So basically S&P dont care where the money comes from as long as it comes . We should be more concerned with where it is going than who the Gov't can extort cash from next !

Actually, no.  What they are explicitly saying is that the risk of default has gone up because some in congress are willing to use it as a bargaining chip for ideaological and political gain when this has never been the case in all of the times the debt ceiling has been raised since first enacted in 1917 (I think that was the year).  Also, they are acknowledging that we do have a debt problem that we need to address.  However the outlook for growth in our economy, and therefore reduced deficits, has been hampered by the significant spending cuts enacted this year between the budget and now the debt deal, rather than increasing revenues.  They are recognizing the fact that cutting spending in a down economy results in fewer jobs, slower growth, and increases the risk of falling back into a recession, all of which reduces revenues and consequently increases deficits and debt in a viscious cycle that feeds on itself.

Is that what you do ?  Do you increase revenue every time you spend a bunch of money ?  I knew a pimp that did that until he had too many prostitutes to keep track of 'em all. How do you do it?  

[Bob E.]

Bob E,

     You sir, with your blind and hateful partisanship are a big part of our country's problem. Congratulations, I guess, you've joined the ranks of the Boob and the Bird.

Mark

And since you changed your statement while I was responding, please tell me what I said that was so hateful.  Again, I merely cited the S&P report.

[RoadKill]

You gave an interpretation of the report.   S&P knows who has control of 2/3 rd of this Gov't and they have as little faith in them as this country does !
 

[Bob E.]

The AAA credit rating for the US was just downgraded to AA+. NOT because we don't tax enough. Because we SPEND too much. If you actually confiscated 100% of the richest Americans total wealth, you would only have enough spending money to run the country for 18 days.

The biggest problem I had with the Bush tax cuts is they removed 10 Million taxpayers from the roles. Anyone who thinks "the rich need to pay their fair share" are simply stupid or worse, they're out right liars. Just like in your household, it's not how much money you earn, it's how much money it takes you to live that matters.
 The TEA Party wants the government to only spend what they take in. And people call them the problem. I guess the education system in this country is even worse than I thought.

Mark

Actually, if you read the statement from S&P, the downgrading has little to do with the economics and a whole lot to do with the political brinksmanship carried on by the far-right, and the promises of future brinksmanship by republican leaders like McConnell, Boehner, and Cantor.  Furthermore, the statement goes on to state the fact that increasing revenues which would help reduce the deficit is less likely due to the republican intransigence against tax increases, and that the rating could be restored if the tax cuts for high-earners are allowed to lapse in 2013 as scheduled.

So basically S&P dont care where the money comes from as long as it comes . We should be more concerned with where it is going than who the Gov't can extort cash from next !

Actually, no.  What they are explicitly saying is that the risk of default has gone up because some in congress are willing to use it as a bargaining chip for ideaological and political gain when this has never been the case in all of the times the debt ceiling has been raised since first enacted in 1917 (I think that was the year).  Also, they are acknowledging that we do have a debt problem that we need to address.  However the outlook for growth in our economy, and therefore reduced deficits, has been hampered by the significant spending cuts enacted this year between the budget and now the debt deal, rather than increasing revenues.  They are recognizing the fact that cutting spending in a down economy results in fewer jobs, slower growth, and increases the risk of falling back into a recession, all of which reduces revenues and consequently increases deficits and debt in a viscious cycle that feeds on itself.

Is that what you do ?  Do you increase revenue every time you spend a bunch of money ?  I knew a pimp that did that until he had too many prostitutes to keep track of 'em all. How do you do it?  

I posed no opinions of my own.  And since I know I won't convince you that you are wrong, I am choosing not to try at this time.  I merely cited the S&P's report that explained their decision.  Here are a few excerpts of what I read:

[...]The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

[...]It appears that for now, new revenues have dropped down on the menu of policy options.
 
[...]The act contains no measures to raise taxes or otherwise enhance revenues, though the committee could recommend them.
 
[...]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.

You tell me where I am off base here.