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President Hopeless Change strikes again - 4/7/2012 10:38:54 AM   
SadistDave


Posts: 801
Joined: 3/11/2005
Status: offline 		Last year the idiot and his regime managed to get America's credit rating lowered for the first time in history. As of Thursday America's credit rating has been lowered again. It doesn't look like little Barry will be able to blame Predsident Bush this time. Not that anyone with an ounce of sense believed Obama when he tried to blame President Bush for it the first time...

The Democratic Party must be so proud of themselves right now...

-SD-
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RE: President Hopeless Change strikes again - 4/7/2012 10:53:31 AM   
SoftBonds


Posts: 862
Joined: 2/10/2012
Status: offline 		Hmm, what is the purpose of a credit rating? I think it is related to the belief of the rating agency as to the ability of the nation/company to repay it's debts.
This in turn is based on the Asset/Liability ratio, and the Revenue/Expense ratio.
Now, lets look at the liabilities recently added to the balance sheet, and the cause. VA care for soldiers sent to Iraq/Afganistan, 2 trillion dollars. Other future costs of Iraq/Afganistan, 1 trillion dollars. Debt run up during Bush's term, 3 trillion dollars, after adjusting for inflation. Debt run up by Obama, about 5 trillion dollars, adjusted for inflation.
So far it looks like about a 50/50 split, but...
Income/expense ratio:
Bush tax cuts, cost so far 1 trillion over 10 years, so about 100 billion a year.
Increases in military spending, 400 billion a year (including increased debt on previous spending, aka the cost of the wars).
So Bush cost us half a trillion dollars in spending/revenue deficit that is expected to continue indefinitely (unless you think the Bush tax cuts will be allowed to expire). Of course, that means that 1.5 trillion of the debt run up by Obama so far is actually Bush's debt. It also means that a nation that only pulls in about 2 trillion a year is spending well over 3 trillion.
Now, if you had a company that raised expenses by 20% while reducing revenue 5%, that was already running at a loss before those changes, but was not running a 50% loss, wouldn't you lower their credit rating?

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RE: President Hopeless Change strikes again - 4/7/2012 10:58:36 AM   
tazzygirl


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quote:

The firm downgraded the United States for second time in less than nine months "because of the lack of any tangible progress on addressing the problems and the continued rise in debt to GDP," said Sean Egan, co-founder of firm, in an e-mail statement.


quote:

Back in mid-July, Egan-Jones stripped the United States' of its top AAA-rating amid the debt ceiling fight in Washington that stoked fears of a federal default.


quote:

Efforts to contain federal spending and borrowing have been unsuccessful. A congressional "Super Committee" seeking spending cuts of $1.5 trillion over 10 years, equal to $150 billion annually, "was a failure," Egan-Jones said in its report.


That super committee made up of equal members of dems and republicans, who could not come up with a bipartisan solution...

And you want to blame Obama?

Seems to me all of them are at fault. Take off the political blinders.

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RE: President Hopeless Change strikes again - 4/7/2012 11:10:25 AM   
Real0ne


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quote:

ORIGINAL: SadistDave

Last year the idiot and his regime managed to get America's credit rating lowered for the first time in history. As of Thursday America's credit rating has been lowered again. It doesn't look like little Barry will be able to blame Predsident Bush this time. Not that anyone with an ounce of sense believed Obama when he tried to blame President Bush for it the first time...

The Democratic Party must be so proud of themselves right now...

-SD-



did you expect any less when they put a fucking brit in the presidency! god save the queen!

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RE: President Hopeless Change strikes again - 4/7/2012 11:39:58 AM   
hlen5


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quote:

ORIGINAL: SadistDave

Last year the idiot and his regime managed to get America's credit rating lowered for the first time in history. As of Thursday America's credit rating has been lowered again. It doesn't look like little Barry will be able to blame Predsident Bush this time. Not that anyone with an ounce of sense believed Obama when he tried to blame President Bush for it the first time...

The Democratic Party must be so proud of themselves right now...

-SD-


The beginnings of the economic meltdown were being predicted in 2007. How was this Barry's fault again?

On the other hand, the whole of Congress couldn't account their way out of a paper bag.
They're all corporate-paid whores.

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RE: President Hopeless Change strikes again - 4/7/2012 11:44:24 AM   
TheHeretic


Posts: 19100
Joined: 3/25/2007
From: California, USA
Status: offline 		What a lucky coincidence that the media is completely obsessed with Trayvon Martin, and total coverage of every dumbass, doomed to fail, proposal to get talked about in the state houses.

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RE: President Hopeless Change strikes again - 4/7/2012 11:46:58 AM   
PatrickG38


Posts: 338
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Status: offline 		Does the person who began this know anything? Assuming S&P rating to be correct (it is absurdly not), it was lowered because of Republican posturing over the debt ceiling and has nothing to do with our ability to pay bondholders. Look at the rates on a ten year treasury and do not post if ignorant of the most basic facts. The interest rate is LOWER than when the S&P downgraded.

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RE: President Hopeless Change strikes again - 4/7/2012 12:24:13 PM   
erieangel


Posts: 2237
Joined: 6/19/2011
Status: offline 		Eh, yeah, and the fist downgrade happened when the Republican-held Congress nearly shut down the government.

Having said that, I don't trust the ratings agencies anyway. None of us should. After all, they are the same ratings agencies that gave AAA ratings to all those toxic loans the banks selling which is what crashed the economy in the first place.

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RE: President Hopeless Change strikes again - 4/7/2012 12:27:41 PM   
Hillwilliam


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quote:

ORIGINAL: TheHeretic

and total coverage of every dumbass, doomed to fail, proposal to get talked about in the state houses.

I sincerely wish they were doomed to fail.



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RE: President Hopeless Change strikes again - 4/7/2012 1:22:30 PM   
TheHeretic


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quote:

ORIGINAL: Hillwilliam

I sincerely wish they were doomed to fail.





Whether it is convenient for the Dems and Obamabots to remember at the moment or not, laws passed by democratically constituted legislatures get thrown out by unelected judges, when they don't meet Constitutional muster, HillWilliam.

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RE: President Hopeless Change strikes again - 4/7/2012 1:50:57 PM   
Musicmystery


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quote:

Last year the idiot and his regime managed to get America's credit rating lowered for the first time in history.


That would be Boehner and this Congress -- as specified explicitly by the rating agency.

The problem wasn't financial ability, but willingness to embrace fiscal irresponsibility, adding an element of risk to owning U.S. paper.


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RE: President Hopeless Change strikes again - 4/7/2012 2:01:56 PM   
erieangel


Posts: 2237
Joined: 6/19/2011
Status: offline 		Shhh, Music, that doesn't fit with the ideological narrative the OP is trying to get us to buy.


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RE: President Hopeless Change strikes again - 4/7/2012 2:51:07 PM   
TheHeretic


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From: California, USA
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quote:

ORIGINAL: erieangel

Shhh, Music, that doesn't fit with the ideological narrative the OP is trying to get us to buy.





Which narrative do you prefer? That it doesn't matter how big your credit card balances are, as long as you can make the minimum payment?


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RE: President Hopeless Change strikes again - 4/7/2012 3:09:24 PM   
jlf1961


Posts: 14840
Joined: 6/10/2008
From: Somewhere Texas
Status: offline 		Lets face facts, the GOP congress members do not want to raise taxes on the wealthy. They want to cut taxes even more. American Corporations get away with not paying a single dime in taxes because of REPUBLICAN created tax loopholes for corporations.

Republicans want to cut social security (which has been robbed repeatedly by congress to cover budget shortfalls) among other things, but the REPUBLICANS want to INCREASE Defense spending which is already 3 to four times as much as the next big defense spender.

Now, if you were trying to get a good rating, would you want to INCREASE spending while reducing revenues?

The GOP has damn near bankrupted this country by increasing spending in EVERY Republican Administrations since saint Ronald

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RE: President Hopeless Change strikes again - 4/7/2012 3:17:28 PM   
Owner59


Posts: 17033
Joined: 3/14/2006
From: Dirty Jersey
Status: offline 		FYI, congress controls the purse strings......


Did you flunk elementary school?

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RE: President Hopeless Change strikes again - 4/7/2012 3:23:51 PM   
subrob1967


Posts: 4591
Joined: 9/13/2004
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quote:

ORIGINAL: jlf1961

Lets face facts, the GOP congress members do not want to raise taxes on the wealthy. They want to cut taxes even more. American Corporations get away with not paying a single dime in taxes because of REPUBLICAN created tax loopholes for corporations.

Republicans want to cut social security (which has been robbed repeatedly by congress to cover budget shortfalls) among other things, but the REPUBLICANS want to INCREASE Defense spending which is already 3 to four times as much as the next big defense spender.

Now, if you were trying to get a good rating, would you want to INCREASE spending while reducing revenues?

The GOP has damn near bankrupted this country by increasing spending in EVERY Republican Administrations since saint Ronald

That's a whole lot of speculation and conjecture... Got any proof?

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RE: President Hopeless Change strikes again - 4/7/2012 3:24:06 PM   
erieangel


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Joined: 6/19/2011
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quote:

ORIGINAL: TheHeretic


quote:

ORIGINAL: erieangel

Shhh, Music, that doesn't fit with the ideological narrative the OP is trying to get us to buy.





Which narrative do you prefer? That it doesn't matter how big your credit card balances are, as long as you can make the minimum payment?

During Bush's administration, deficits didn't matter, they only matter now that a Democrat is in the WH. Why is that?





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Profile   Post #: 17
RE: President Hopeless Change strikes again - 4/7/2012 3:40:34 PM   
TheHeretic


Posts: 19100
Joined: 3/25/2007
From: California, USA
Status: offline 		Funny how you will quote the question I asked you, and still not answer it, and then you'll probably get snippy because I won't waste my time with your effort to talk about something other than the here and now.

The credit downgrades have occurred on President Obama's watch, and under his failures of leadership.

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RE: President Hopeless Change strikes again - 4/7/2012 3:41:31 PM   
SadistDave


Posts: 801
Joined: 3/11/2005
Status: offline 		@ Owner 59

FYI

Did YOU flunk gradeschool? I said Obama and his regime. Ie: Pelosi, Reid, etc.

Maybe you should consider some remedial reading courses...

Democrats controlled the House and Senate for the first half of Obamas Presidency. It only took 2 years of a Democratic President, Democrat controlled House, and Democrat controlled Senate to effect the first downgrade. The blame game on the GOP doesn't hold any water. I'm sure we all agree that the Congress controls the purse strings.

The Democrats controlled the House and Senate from 2007 to 2011.

-SD-

< Message edited by SadistDave -- 4/7/2012 3:42:29 PM >

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RE: President Hopeless Change strikes again - 4/7/2012 3:53:53 PM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline
quote:

ORIGINAL: SadistDave

@ Owner 59

FYI

Did YOU flunk gradeschool? I said Obama and his regime. Ie: Pelosi, Reid, etc.

Maybe you should consider some remedial reading courses...

Democrats controlled the House and Senate for the first half of Obamas Presidency. It only took 2 years of a Democratic President, Democrat controlled House, and Democrat controlled Senate to effect the first downgrade. The blame game on the GOP doesn't hold any water. I'm sure we all agree that the Congress controls the purse strings.

The Democrats controlled the House and Senate from 2007 to 2011.

-SD-

And both downgrades occured while the GOP controlled the only part of the entire government that can initiate spending or taxation.

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