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We all know the rhetoric from Washington was that this would happen if the ceiling were not raised.
I am curious as to the public consensus as to who is to blame more, though both parties are to blame.
I seriously think taxing the richer folks may have given a long term plan towards putting a dent on the national debt. I am not really sure if the super-rich would run away with their assets if they have to pay more taxes, an argument used against taxing them.
And clearly, S&P says the inefficiency of Washington factored in the downgrade, thanks to the pig-headedness of the GOP and the tea party.
And let's not forget the infamous stimulus package, some of which went into the alternate energy sector, for example, which has completely collapsed. Case in point: A123 systems opened their IPO at over 15 bucks, and they sit at 4 bucks now, reaching 52-week lows every quarter with steepening losses, despite millions of stimulus money, literally money went down a hole.
America’s credit rating withstood the Great Depression, Viet nam, Korean war, 9-11. But couldn’t withstand Obama, Pelosi and Reid.
It's amusing that conservatives vote for Obama here. Obviously both parties are responsible, but S & P themselves specifically said it was primarily Republicans that prompted this decision.
Yay for ignoring words directly from the horse's mouth just to attack Obama!
We all know the rhetoric from Washington was that this would happen if the ceiling were not raised.
I am curious as to the public consensus as to who is to blame more, though both parties are to blame.
I seriously think taxing the richer folks may have given a long term plan towards putting a dent on the national debt. I am not really sure if the super-rich would run away with their assets if they have to pay more taxes, an argument used against taxing them.
And clearly, S&P says the inefficiency of Washington factored in the downgrade, thanks to the pig-headedness of the GOP and the tea party.
And let's not forget the infamous stimulus package, some of which went into the alternate energy sector, for example, which has completely collapsed. Case in point: A123 systems opened their IPO at over 15 bucks, and they sit at 4 bucks now, reaching 52-week lows every quarter with steepening losses, despite millions of stimulus money, literally money went down a hole.
What went wrong? The moron tea party decided to hold the debt ceiling hostage and turn it into a three ring circus. Thus the confidence in DC was downgraded by a rating company. That and the refusal to increase revenue.
Want another downgrade? Extend those Bush tax cuts again and see what happens.
Although I am admittedly a bit biased, I must share that the GOP came over as a-holes on this one, particularly the Tea Party. The energy and contrariness came completely from the right this time. What the hell were they thinking?!
I hope they get roasted for this debt debacle in 2012. It was unneccessary, and complete partisan overreach.
Since the correct option "both parties caring about reelection and their own big interests instead of the American people are the problem" was left off.... I voted for the bigger of the 2 choices listed (which are both problems by the way) out of control spending
It's amusing that conservatives vote for Obama here. Obviously both parties are responsible, but S & P themselves specifically said it was primarily Republicans that prompted this decision.
Yay for ignoring words directly from the horse's mouth just to attack Obama!
Exactly the whole "debt crisis" was nothing but a PR stunt by the right in an attempt to bash Obama and make him look bad which blew up in their faces. The debt ceiling was raised 7 times under W no questions asked. If there was a GOP president right now, the debt ceiling discussion would have been a non-issue.
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