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Old 08-05-2011, 07:37 PM
 
Location: The Woods
18,337 posts, read 26,404,089 times
Reputation: 11335

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About time.
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Old 08-05-2011, 07:37 PM
 
Location: Hoboken
19,890 posts, read 18,709,276 times
Reputation: 3146
Quote:
Originally Posted by TimC2462 View Post
What is with the GOP mantra that the balanced budget must only include cutting spending?

Even the Republican Senators know that there are tax loopholes and subsidies that exist for companies that are making record profits.
Stop the silliness. We need trillions in cuts, when Pelosi and Reid say they won't touch entitlements we have a problem. Willy Sutton said he robbed banks because that's where the money is. My friend, taxes are not where the money is, you can't raise trillions in taxes. You can only cut trillions in spending. Taxes are nibbling around the edges.
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Old 08-05-2011, 07:37 PM
 
29,981 posts, read 42,829,777 times
Reputation: 12828
Obama's is a historical Presidency indeed. Just not for the reasons most anticipated in November 2008.
Quote:
Credit rating agency Standard and Poor's says it has downgraded the U.S. credit rating from a top AAA rating to AA+, the first debt downgrade in U.S. history.
FoxNews.com - Breaking News | Latest News | Current News

Quote:
S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further within the next two years. It said such a downgrade to AA would occur if the agency sees less reductions in spending than Congress and the administration have agreed to make, higher interest rates or new fiscal pressures during this period.
http://www.foxnews.com/politics/2011...#ixzz1UD04hl5O
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Old 08-05-2011, 07:38 PM
 
2,093 posts, read 4,680,779 times
Reputation: 1121
Quote:
Originally Posted by roysoldboy View Post
Who holds the majority in the Senate? You are talking pure gibberish and surely you know it.
Roy, I suggest YOU ignore my posts since I don't respond much to folks who prefer one-way communication.
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Old 08-05-2011, 07:39 PM
 
1,652 posts, read 2,540,416 times
Reputation: 1463
Note to Washington, S&P downgrade & Wall Street nosedive a direct result of your useless, political theater circle jerk. No Confidence.

Next time, just do the routine raise vote like the last 40+ times and spare us the theatrics.
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Old 08-05-2011, 07:39 PM
 
Location: Pa
20,300 posts, read 22,167,491 times
Reputation: 6551
Quote:
Originally Posted by Finn_Jarber View Post
US Credit Rating Shattered.

Congratulations GOP, you succeeded in your mission. The five month deficit circus finally paid off.

Dems had no hand in this? They could have averted this whole mess they had control of the house and senate as well as the sitting president.
Why didn't they do something about it? What they did do. Spent money like there was no tomorow.Your talking 5 months? What about the 4 previous years?what about the 2 years where the dems controled it all?
This is a bipartisan mess and its hardliners supporting villians of their own flavor that are the problem.
You dont have to post it but be honest with yourself. The Dems tanked it. If they really were worried about deficet spending why didnt they act on it when they had a stacked deck. The reality is they were not worried about it.
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Old 08-05-2011, 07:39 PM
 
Location: Land of debt and Corruption
7,545 posts, read 8,306,680 times
Reputation: 2888
Quote:
Originally Posted by lifelongMOgal View Post
Obama's is a historical Presidency indeed. Just not for the reasons most anticipated in November 2008.


FoxNews.com - Breaking News | Latest News | Current News
He can add that to his resume when he gets into the unemployment line next year.
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Old 08-05-2011, 07:39 PM
 
2,093 posts, read 4,680,779 times
Reputation: 1121
Quote:
Originally Posted by shorebaby View Post
Stop the silliness. We need trillions in cuts, when Pelosi and Reid say they won't touch entitlements we have a problem. Willy Sutton said he robbed banks because that's where the money is. My friend, taxes are not where the money is, You can't raise trillions in taxes. You can only cut trillions in spending. Taxes are nibbling around the edges.
And therein lies the problem. GOP don't want to touch the possibility of increasing taxes while the Democrats don't want to touch entitlement.

I dislike both parties, but I dislike the GOP even more.
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Old 08-05-2011, 07:39 PM
 
Location: DC area
1,718 posts, read 2,420,046 times
Reputation: 663
Interesting thread...at least in proving S&P right since a large portion of the reason for the downgrade seems to be our political differences and their distrust in us to ever get along in order to get anything done.

We're long past the blame game folks but if we're going to start handing it out, both parties should step up for a large helping.
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Old 08-05-2011, 07:41 PM
 
Location: Houston, TX
2,239 posts, read 3,221,668 times
Reputation: 1180
S&P now makes decisions based on their crystal balls? Point is, we are not defaulting.
This coming from the agency that gave the green light to invest in mortgage securities that included sub-prime loans? Yeah, ok...whatever.

We have Moodys and Fitch. S&P can go take a hike.
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