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Our credit rating being lowered for the first time in history is reason to be scared. No it won't be the end of the world or the end of the United States. But it is serious and talks about the United States losing it's place as the world leader will become that much more serious. Also, S&P and Moody's are not a part of Obama's Administration.
I find it hilarious that you liberals didn't give a hoot about Moody's and the S&P's warnings about a potential downgrade until now. They have been warning the US for the past couple of years that unless we get our spending and DEBT under control, a downgrade is probable. None of the liberals gave a hoot as Obama added $4.1 BILLION in new debt per day, until the debt ceiling debate came into play. Now you're all up in arms? Really??
Check the dates on these articles. Where was the liberals' demands that spending be reigned in?
Bond rating agency Moody's on Wednesday warned that the triple-A rating of U.S. treasury bonds could be in peril unless the U.S. reduces its federal budget deficit or the economy rebounds.
"Absolutely not," Mr. Geithner said in an interview with ABC News's "This Week" when asked about the prospect of the U.S. losing its top rating. "That will never happen to this country."
1. The sky will still be blue
2. The birds will be singing
3. The lights will be on
4. The water will be running
5. Gas will be available
6. Your job will be there waiting (if you had a job Tuesday that is)
In other words, regardless of the so called August 2 deadline to give Obama more money to borrow, the world will not end either way. Wednesday will be no different than Tuesday was.
I do not know enough about national debt, "debt ceilings" or national credit ratings to say whether this is all as big of an issue as many people are making it seem. I really wish I did know enough. Either way though, something needs to be done and waiting until the last minute is pushing it.
You say all of those things will be there, but that doesn't mean anything if our economy remains fragile and the future doesn't have stability. I appreciate the sky being there and the birds, but I'd be pretty happy if my nation could work towards a more stable future. Our economic and financial stability affects the world.
I feel that they should have called somewhat of a state of emergency a long time ago. I am a supporter of cutting spending and even a freeze. I do not know enough about the government's financial inner-workers to say if that is an option. However, from my gut and what I do know, I believe that spending should have been cut a long time ago on many things.
I wonder if this will turn into another Y2K fear with a run on grocery stores, ATM's and gas stations ?
Americans are truly gullible and it wouldn't surprise me one bit.
It will also be harder for everyone to borrow money as there will be higher interest rates. Once more GDP growth is already anemic. A default will only make that worse and extend the recession.
1. The sky will still be blue
2. The birds will be singing
3. The lights will be on
4. The water will be running
5. Gas will be available
6. Your job will be there waiting (if you had a job Tuesday that is)
In other words, regardless of the so called August 2 deadline to give Obama more money to borrow, the world will not end either way. Wednesday will be no different than Tuesday was.
Are you telling me that Pelosi lied about the "end of the world" and how Boehner has "gone to the dark side"?? That lady has just lost it completely... as I understand it... interests on credit cards will go up 1 percent... ohhhh... mortgage rates will go up 0.2%... ohhh... PUBLIC student loans will be unaffected... auto loans will be unaffected... ohhh... basically, in liberal-tongues "end of the world" ohhhh... have they put the fear in you yet?
I find it hilarious that you liberals didn't give a hoot about Moody's and the S&P's warnings about a potential downgrade until now. They have been warning the US for the past couple of years that unless we get our spending and DEBT under control, a downgrade is probable. None of the liberals gave a hoot as Obama added $4.1 BILLION in new debt per day, until the debt ceiling debate came into play. Now you're all up in arms? Really??
Check the dates on these articles. Where was the liberals' demands that spending be reigned in?
Don't worry I doubt your links will get much activity from the counterclockwise folks around here. Too much truth in em. They can't deal in truth just what marching orders they are given by the Fuehrer. The term "hijacked" has been on rare display lately as that was the talking point sent out to the troops. Sad is what it is.
Yes, the affairs of the planet continue in complete ignorance of the affairs of man. It's all in our heads which have been hijacked by other forces to believe in X and Y for reasons that are kept at a distance.
But where you are wrong is that the new debt ceiling allows Obama to spend more. It allows US as a country to spend more, that's you and me Joe. It's not one person's fault just because you don't like him, it's OUR fault for allowing it to happen 78 times (plus or minus, I know it's a pretty big number of times) since Reagan was President. Playing the "He did it to us" victim card only disempowers us.
The blame falls squarely on 300+ million people for being asleep each time. Even if we were convinced to believe in X and Y (see above), and even if we were distracted and mollified, it's still our responsibility, just like everything else we encounter, real or imagined.
There will be no default. Obama has no choice but to cave in as long as the good guys continue to hold his feet to the fire. That's why he is so angry, he knows he is losing and that has never happened to the golden boy before, so he raises the stakes and bullying harder, lies more, and trying every dirty Chicago trick he can come up with to keep his cushy job and continue his path to make America a communist country, a country that he can then be proud of...!!
The man is pure evil and must be defeated next year, if the country can survive that long under such corrupt leadership..!
You could be right. They keep ramping up the fear meter there could surely be a run on some banks come next week. I will sit back and enjoy the show for sure just like the Y2K fiasco. Wait until doomsday in 2012. Mayans will be laughing their butts off too.
I think there's a slight difference between predicting an economic downturn based on defaulted debt and predicting the end of the world based on the cosmic delusions of an ancient people.
1. The sky will still be blue
2. The birds will be singing
3. The lights will be on
4. The water will be running
5. Gas will be available
6. Your job will be there waiting (if you had a job Tuesday that is)
In other words, regardless of the so called August 2 deadline to give Obama more money to borrow, the world will not end either way. Wednesday will be no different than Tuesday was.
You don't even realize that the debt-ceiling raise is in no way related to the budget deficit. How can we have a conversation with you about real economic concerns when you haven't educated yourself with regard to basic facts?
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