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More cuts will be announced in November. That's my point, S&P now have crystal balls and can tell the future.
US Treasuries are the safest and most transparent in the world. S&P can take a hike.
OMG... you do realize that they aren't CUTS at all... when you cut something, you have less than 100% of funding... what the government did was say instead of 120% of funding, you now only have 110% of funding... they weren't real cuts, they were just saying they weren't going to spend as much as they were planning... S&P and all the credit agencies can see through that... didn't you know that already? US Treasuries are the safest? They are the safest compared to the world... did you ever ask why? Its not because of the government or Americans... its because of the resources IN America... if they can't take our money, they will certainly take our minerals, water, oil, land, whatever... that's why it so safe... Why would you ever think that is a good thing?
And what is so crazy is that the ratings agencies TOLD US that they wanted to see $4T in cuts. We basically spit in their faces with the debt ceiling deal. Why didn't our elected officials stave off this downgrade by actually making the necessary cuts?
This is the part of all this that bothers me most. People, although they know better, seem to want only to blame the Tea Party people for the whole thing and they wanted to do what the rating agencies said had to be done, and go with a proposed amendment for a balanced budget.
This old 10 years down the road crap that Congress critters got so used to is really where our problem is.
OMG... you do realize that they aren't CUTS at all... when you cut something, you have less than 100% of funding... what the government did was say instead of 120% of funding, you now only have 110% of funding... they weren't real cuts, they were just saying they weren't going to spend as much as they were planning... S&P and all the credit agencies can see through that... didn't you know that already? US Treasuries are the safest? They are the safest compared to the world... did you ever ask why? Its not because of the government or Americans... its because of the resources IN America... if they can't take our money, they will certainly take our minerals, water, oil, land, whatever... that's why it so safe... Why would you ever think that is a good thing?
Look...everyone is panicking like it's the end of the freaking world. We need to vote all those lunatic Tea Party freshmen out of office and get to work.
We don't need people hi-jacking the growth of our economy.
And the moderate Republicans need to grow a set of balls and tell the TP people to step back.
I do think this is all part of the plan to create a New World Order.
Absolutely correct, no doubt about it. The US has been a thorn in the foot of world bankers for two hundred years. How dare millions of people continue to have the freedom to think and act for themselves.
Couldn't break our spirits, so now they'll break our economy.
Quote:
Originally Posted by NYer75
Look...everyone is panicking like it's the end of the freaking world. We need to vote all those lunatic Tea Party freshmen out of office and get to work.
We don't need people hi-jacking the growth of our economy.
And the moderate Republicans need to grow a set of balls and tell the TP people to step back.
You are a stellar example of a person that doesn't "get it".
Tell us oh master of spin how the Dems or Reps (in any combination) would have avoided this disaster? We are all ears -- lefties, centrists and conservatives are all waiting with baited breath.
Do you remember when taxes were raised to FUND wars in the past century? World War I? World War II? Korean War? Vietnam War?
I remember the bonds we bought during WW II. Is there a chance that the present government would do a thing like that? I certainly don't think so even with this most serious thing hanging over our heads. They will just sit around trying to hold their umbrellas over their butts to keep them covered from the truth.
Stop it, this is the childish non sense that got us here to begin with. Italy was able to avoid default by offering a balanced budget agreement. Our politicians are unwilling to make the tough cuts. Forget tax increases, they are spit in the ocean compared to the problem we have.
It's not the cuts- or lack thereof- per se. It's the screwing around until the last minute, the dysfunctionality of our law makers, the fact that every time the debt ceiling comes up in the future these types of hostage holding shenanigans are set up to happen again.
What's really, sadly ironic about it is that lenders will now likely charge us more interest- adding to the debt. Even 10 basis points is HUGE on a large loan.
On a personal level, interest we pay on mortgages, car loans, etc. may go up- taking more discretionary spending money out of the economy.
We should have had a clean up or down vote on the debt ceiling and then, along with helping with job creation, work on reducing the debt and deficit.
We shot ourselves in the foot again. I'm sure the Reps and TPers are happy because it makes Obama look bad- even though he is not the one who makes the laws- and they care much more about that than they care about this country's best interests.
Thanks a lot congress, dems and reps alike. A pox on both your houses.
This is the part of all this that bothers me most. People, although they know better, seem to want only to blame the Tea Party people for the whole thing and they wanted to do what the rating agencies said had to be done, and go with a proposed amendment for a balanced budget.
This old 10 years down the road crap that Congress critters got so used to is really where our problem is.
Well...Balanced means just that...even weight on both sides.
The Republicans said NO to revenues increases, but YES to cuts.
Doesn't sound balanced to me.
No, the downgrade happened because we have too much debt. Our deficit equals our GDP, that situation is unsustainable. You simply won't get it until China tells you no more dough until you clean up your act. Even the socialists in Italy get it. The left wing in the US has just been hit by a 2X4 and still doesn't get it! Unbelievable.
and lets not forget the TP's in congress that kept saying they wanted the US to default and not raise the debt ceiling no matter what. You don't think that has any thing to do with it?
CONGRATS politicans you have succeded in the beginning of the ruining of america.
Wasn't it Obama that said he was going to fundamentally change our nation? .. What do you suppose he meant by that?
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