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The political know it alls should have listened to the Tea Party. As it turns out, they were the only ones who had it right. They wanted to deal with this situaion right now and not kick it down the road again. The left with their typical FEAR MONGERING called it hostage taking. I call it common sense and found it refreshing.
Years of liberal fiscal policies brought us to this point. Obama's doubling down on the Pelosi/Reid/Dodd/Frank fiscal policies drove us off the cliff. Obama's hateful, angry rhetoric made it impossible to reach a deal.
I am not interested in compromise. I am interested in stopping this insane spending, PERIOD!
What a stain on Obama's legacy! The first POTUS ever to cause the downgrade of America's credit rating. That will ALWAYS be part of his resume now. Well, at least now he has a resume.
To claim that the tea party was the only one who had it right is bogus. The White House formed a bipartisan panel to create a plan for deficit reduction in January 2010. Yes, that is a year and a half ago. In December 2010, the panel had written a plan, which can be read by anyone in the net, to reduce the debt by $4T while reducing corporate taxes to stimulate economy. The reduction would have been affordable because the plan also included the removal of hundreds of tax loop holes, which allowed corporations to walk away from their duty to pay tax. It would have increased revenues while lowering tax rates. That was a perfect plan, but unfortunately it was voted down mostly by GOP members within the panel itself.
As for the reason for the reduction of the rating, there is no doubt that the threat to force US to stop paying bills sent a message to the rest of the world saying that the United States cannot be fully trusted to pay her bills any longer. A message like that begs for the rating to be lowered, and in my view sending that message was a deliberate attempt sabotage of the economy. I guess we can't call in an 'attempt' any more because it actually became reality.
False. Your are spewing typical left wingnut fear mongering.
The Tea Party was the ONLY reason why we were finally adult enough to discuss the FAILED liberal spending policies that brought us this historic downgrade on OBAMA'S watch.
The Tea Party will now continue to grow. The more the left wingnuts vilify them and call the racists, terrorist and so on, the more people will see just how hateful and destructive the left is.
THIS DOWNGRADE IS ON OBAMA'S WATCH. YOU CAN'T CHANGE THAT NOW. IT'S PART OF HISTORY.
I AM SO DISGUSTED AT MYSELF FOR VOTING FOR THIS USELESS POS!
Here's an idea, how about sending the Credit downgrade bill to, Grover Norquist? By the way, I think Grover rues voting for Obama too.
False. Your are spewing typical left wingnut fear mongering.
The Tea Party was the ONLY reason why we were finally adult enough to discuss the FAILED liberal spending policies that brought us this historic downgrade on OBAMA'S watch.
The Tea Party will now continue to grow. The more the left wingnuts vilify them and call the racists, terrorist and so on, the more people will see just how hateful and destructive the left is.
THIS DOWNGRADE IS ON OBAMA'S WATCH. YOU CAN'T CHANGE THAT NOW. IT'S PART OF HISTORY.
I AM SO DISGUSTED AT MYSELF FOR VOTING FOR THIS USELESS POS!
Congressman Paul Broun, M.D. (GA-10) today introduced unique legislation, H.R. 2409 the Debt Ceiling Reduction Act, that would lower the debt ceiling from $14.3 trillion back down to $13 trillion. The legislation would be enacted at the beginning of FY 2012 and would force Congress to begin to pay off a portion of the national debt while drastically reducing spending.
You guys can pass the blame all you want. The history books will show this as happening under the Obama presidency..regardless of what YOU think.
He's 2.5 years into his run..this happened on HIS watch. He pitted D vs R publicly many times over the past 2.5 years. His style of leadership it taunting and fearing...NOT good for compromise because it's all about WIN or LOSE, not compromise.
Can't blame this one on Bush because he had 2.5 years to curb the spending and he did the opposite. Obama, Pelosi and Reid spent way too much in 2009 and 2010 and didn't bother with a budget.
I knew this was coming - I said to my husband last night that there would be finger pointing at the tea party about lack of tax increases.
A few points:
1. the tea party is NOT in power and had no hand in getting us to this point. PLUS - we hear over and over how they are irrelevant... so, they cannot be blamed... right??
2. the democrats had control of the house, senate and white house and did not pass a budget for how long??? All the while they spent money as fast as the presses could print it. Doesn't that show careless disregard for our overall economy?
3. correct me if I am wrong but wasn't it the tea party that demanded the debt ceiling be tied to a balanced budget amendment? Didn't democrats cry and scream about that? Although we were warned in APRIL that we needed to show we were serious about cutting spending or we would be downgraded? YET, we waited to the last minute and did not do enough. What part of this inspires confidence? Oh yeah, Geitner said there was no risk of default so who needed to worry.
4. taxes - let's talk about raising taxes when we talk about getting rid of earmarks and reforming our entitlement programs. Seriously, the impact on the higher taxes WILL affect us ALL and we still won't be able to afford our lifestyle.
I can't believe we are so far apart and see things so differently. I am also disgusted at the hypocrisy of liberals who claim to be so open minded yet who openly HATE a group of people because they believe something different. Absurd.
Can't blame this one on Bush because he had 2.5 years to curb the spending and he did the opposite. Obama, Pelosi and Reid spent way too much in 2009 and 2010 and didn't bother with a budget.
Now we reap what we sow.
As noted by the S&P report I'm sure you read, it is not only about spending, it is about debt. Debt can be tackled in various ways. Everyone is also guilty for treating taxation like a political third rail.
I'm here to educate you about the single biggest threat to our planet. You see, there is something out there which threatens our very existence and maybe the end of the human race as we know it.
National debt default appears to have struck as predicted in the Colorado Rockies. All around the country panic and chaos are settling in. Tom I'm standing just outside of Chicago where the panic of national debt default has already caused countless deaths. Already we're reporting that the death toll in Chicago is over 600 billion people.
I'm afraid us adults just let you children down. We didn't take care of our national debt and now you've inherited our problems. We didn't listen. Ron Paul warned us but we didn't listen.
Here comes national debt default! Uhbuhbuhuhbuhbuh!
Its funny and a light hearted take on what South park did with Global warming.
And besides that, They took our jobs!
So who makes out when the interest rates go up? The banks. Who got protected when the economy went south? The Banks. Who cause much of the problem? The banks. Who controls the Banks? The Fed. Who made our money worthless and made money off our over spending? The Fed. who owns Obama just like they owned Bush? The Banks.
I just wonder if they'll invent a crisis then solve it for the time being, then Obama gets the credit. Of course the republicans will get their share of credit, too. They probably want to sell off of the stock market just so they can come in later and pick up shares on the cheap. The little guy won't be protected from losses but they will. if you're going to panic and do anything, run to your bank and withdraw your money but leave it in a paper check for a few days. That will panic them.
I knew this was coming - I said to my husband last night that there would be finger pointing at the tea party about lack of tax increases.
A few points:
1. the tea party is NOT in power and had no hand in getting us to this point. PLUS - we hear over and over how they are irrelevant... so, they cannot be blamed... right??
2. the democrats had control of the house, senate and white house and did not pass a budget for how long??? All the while they spent money as fast as the presses could print it. Doesn't that show careless disregard for our overall economy?
3. correct me if I am wrong but wasn't it the tea party that demanded the debt ceiling be tied to a balanced budget amendment? Didn't democrats cry and scream about that? Although we were warned in APRIL that we needed to show we were serious about cutting spending or we would be downgraded? YET, we waited to the last minute and did not do enough. What part of this inspires confidence? Oh yeah, Geitner said there was no risk of default so who needed to worry.
4. taxes - let's talk about raising taxes when we talk about getting rid of earmarks and reforming our entitlement programs. Seriously, the impact on the higher taxes WILL affect us ALL and we still won't be able to afford our lifestyle.
I can't believe we are so far apart and see things so differently. I am also disgusted at the hypocrisy of liberals who claim to be so open minded yet who openly HATE a group of people because they believe something different. Absurd.
“We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process.”
To claim that the tea party was the only one who had it right is bogus. The White House formed a bipartisan panel to create a plan for deficit reduction in January 2010. Yes, that is a year and a half ago. In December 2010, the panel had written a plan, which can be read by anyone in the net, to reduce the debt by $4T while reducing corporate taxes to stimulate economy. The reduction would have been affordable because the plan also included the removal of hundreds of tax loop holes, which allowed corporations to walk away from their duty to pay tax. It would have increased revenues while lowering tax rates. That was a perfect plan, but unfortunately it was voted down mostly by GOP members within the panel itself.
As for the reason for the reduction of the rating, there is no doubt that the threat to force US to stop paying bills sent a message to the rest of the world saying that the United States cannot be fully trusted to pay her bills any longer. A message like that begs for the rating to be lowered, and in my view sending that message was a deliberate attempt sabotage of the economy. I guess we can't call in an 'attempt' any more because it actually became reality.
Is this what you are talking about....that the repubs voted down?
Humm...that is amazing.....since there were MORE dems than repubs on this special board....
Quote:
Though details were in flux, Mr. Obama’s executive order would designate a panel with 10 Democratic members and eight Republicans. Twelve of them would be chosen by the House and Senate leaders of both parties, with each naming three lawmakers. The president would name six people, four Democrats and two Republicans.
I said nothing about interest rates or where they will go.
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