Credit rating drop anyway: The future of the USA (Congress, Reagan, Reid)

[GypsumCement]

Like last time our credit rating got dropped, the government blamed it on a shutdown.

The Credit Agency blamed it on excessive spending.



We have not curtained the spending and our credit rating is going to be lowered once again.
Reid put 3 billion in pork when it was sent to the house and it passed.

90 days and counting.... We get to do this all over again!!

[HappyTexan]

Our credit rating is not based on how Congress bickers.
It's based on the USG financials.

All Congress did was what they did before..kick the can down the road and raise the debt ceiling.

[GypsumCement]

Originally Posted by HappyTexan

Our credit rating is not based on how Congress bickers.
It's based on the USG financials.

All Congress did was what they did before..kick the can down the road and raise the debt ceiling.

That's what happened last time they kicked the can down the road. It got kicked another 90 days... We get to do it again.

[InformedConsent]

Originally Posted by GypsumCement

Like last time our credit rating got dropped, the government blamed it on a shutdown.

The Credit Agency blamed it on excessive spending.

And too much accumulation of debt.

Details here:
//www.city-data.com/forum/31844589-post52.html

We have not curtained the spending and our credit rating is going to be lowered once again.
Reid put 3 billion in pork when it was sent to the house and it passed.

That was a bribe for McConnell because the Bill wouldn't have passed on its own merits.

[GypsumCement]

Originally Posted by InformedConsent

And too much accumulation of debt.

Details here:
//www.city-data.com/forum/31844589-post52.html

That was a bribe for McConnell because the Bill wouldn't have passed on its own merits.

It was for a Dam mainly, but other pork was included by the Senate.
It was not a clean CR. It added additional spending.
To the tune of 3 billion.

[HappyTexan]

Originally Posted by InformedConsent

And too much accumulation of debt.

Details here:
//www.city-data.com/forum/31844589-post52.html

That was a bribe for McConnell because the Bill wouldn't have passed on its own merits.

And Reid said we're saving $80 million.

So spend $3 billion to save $80 million ?
Did these law makers fail math or something ?

[Tilt11]

Paying debt with new debts..... Good job liberals and establishment GOP.

[HappyTexan]

Originally Posted by Tilt11

Paying debt with new debts..... Good job liberals and establishment GOP.

They had to buy the votes.

[OICU812]

Originally Posted by GypsumCement

Like last time our credit rating got dropped, the government blamed it on a shutdown.

The Credit Agency blamed it on excessive spending.



We have not curtained the spending and our credit rating is going to be lowered once again.
Reid put 3 billion in pork when it was sent to the house and it passed.

90 days and counting.... We get to do this all over again!!

Well, we have a president who threatens to default, by not paying our debts, and he and the senate clearly want to print more funny money and continue the reckless, "irresponsible and unpatriotic" practice of incurring even more debt. So yeah, I can see why the actions of our nation's leaders are creating grave concerns in the minds of our creditors.

[middle-aged mom]

Originally Posted by GypsumCement

Like last time our credit rating got dropped, the government blamed it on a shutdown.

The Credit Agency blamed it on excessive spending.


We have not curtained the spending and our credit rating is going to be lowered once again.
Reid put 3 billion in pork when it was sent to the house and it passed.

90 days and counting.... We get to do this all over again!!

Hearsay and opinions are not facts.

There are two dominate credit rating agencies, S&P and Moody's which have an 80% global market share. S&P, Moody's and Fitch combine for the big three and control 95% of the global market share.
None have cut the U.S. credit rating. The outliers do not carry much weight

On Tuesday, Fitch placed the U.S. AAA rating on Negative Watch which is not a downgrade. According to Fitch:

Failure to raise the debt ceiling in a timely manner and political brinksmanship were the reasons.

Be aware :
The U.S. has been in debt every year, except for 1835. Every President inherits debt and adds to it.

There are only two nations with legislatively imposed debt ceilings. The other is Denmark.

The debt ceiling has been raised 74 times since 1962. The Reagan Admin holds the record at 18X over two terms.

http://www.fitchratings.com/creditdesk/press_releases/detail.cfm?pr_id=805079&origin=home&cm_sp=homepage-_-Featured_Content_Archive-_-Fitch