Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The U.S. had its AAA credit rating downgraded for the first time by Standard & Poor’s, which slammed the nation’s political process and said lawmakers failed to cut spending enough to reduce record deficits.
S&P dropped the ranking one level to AA+, after warning on July 14 that it would reduce the rating in the absence of a “credible” plan to lower deficits even if the nation’s $14.3 trillion debt limit was lifted. The U.S. was awarded the top credit ranking by New York-based S&P in 1941. It kept the outlook at “negative” amid the failure to end Bush-era tax cuts.
“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,” S&P said in a statement today.
That's what I meant in a way. The TP was born out of discontent with the liberal republicans.
Well, I see what you mean now . . . I just don't know that it is as simple as saying discontent - and I don't think you can refer to REP's as "liberal." There are many centrist REPs in the House and Senate . . . and there are a few centrist DEMs in the Senate and more in the House.
WHen it comes to PASSING legislation (not creating it, i.e writing the bills) it becomes a matter of compromise. Boehner had to get folks to agree to something that could be passed. Tea Party freshmen would not budge b/c they were sent to Congress to toe the line on spending.
So even if others in the GOP (and in the DEM party, for that matter) may have been willing to compromise on various aspects of proposed legislation, the Freshmen held fast. That made it very difficult for Boehner to get a piece of legislation together that the Senate would sign onto . . . b/c the Senate is majority DEM and Reid was saying all along - the folks on his side of the aisle were NOT gonna support any of the bills Boehner had managed to get out of the House.
It may appear there was disagreement inside the REP party, but in actuality, it was simply a matter of finding a way to create legislation that followed the voting conscience of members while still giving Reid what he said he could work with in the Senate. That was no small feat.
S&P didn't downgrade US debt when Bush was in office, makes no sense to do it now. It's clear that the GOP participation in thwarting President Obama's efforts continue to hurt the economy and this downgrade obviously a reflection of GOP failure.
The country is staggering along because we have two areas of our government that are cursed by the presence of the GOP: Congress and the Supreme Court.
The Dems can defend Obama all they want, but his chances of re-election are becoming more and more slim. Under his administration we have seen an unstable economy, an enormous increase in debt, a credit downgrade, a controversial healthcare bill, an unsuccessful stimulus package, 9% unemployment, political divisiveness, and not to mention a powerful grass roots movement aimed at removing him from office.
Again, you are playing a game, or falling for their game. There were no cuts to entitlements. Additionally $4 trillion in cuts over 10 years is nothing. We are running a $1.4 trillion deficit each year. We need a minimum of $10 trillion in cuts. You don't get there without serious entitlement reform. Stop falling for their game. The *** is up, the world is on to us. We need to get serious. And we need to get serious now.
We also need a tax overhaul and get rid of all the little deductions.
S&P didn't downgrade US debt when Bush was in office, makes no sense to do it now. It's clear that the GOP participation in thwarting President Obama's efforts continue to hurt the economy and this downgrade obviously a reflection of GOP failure.
The country is staggering along because we have two areas of our government that are cursed by the presence of the GOP: Congress and the Supreme Court.
Hardliners:smac k:
Then why didnt the dems do something when they had all the power instead of passing the buck for someone else to deal with? It was all smoke and mirrors.
But it was Obama who blew up the tentative revenue deal, which was based on his own Simpson Bowles commission: pro-growth tax reform. Obama preferred partisan posturing and sniping. Proof: "corporate jet owners," trotted out a dozen times to inflame the ignorant. Read the commission report, read the Gang of Six bipartisan centrist outline, and show me where it advises the singling out of one small group for unequal treatment under the law. And the money at issue is a rounding error anyway.
Marco, I've come to respect your opinions, but I can't find any sources that say Obama was the one who turned his back on the deal. I thought the break down was teh Republicans couldn't disobey Master Norquist.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
A reflection of the GOP
