US Credit Rating Downgraded by S&P

[RideRocket]

The Democrats are corrupt for going along with this charade.

Again I say it's not a Democrat v. Republican issue. It's a "our country is at stake" issue. Our politicians are corrupt. They don't have the general populace's interest at heart anymore. They are more concerned about "what's right for them" versus what's right for my constituent's. Personally, I say, kick all of them out of office and start over. Say what you will about the Tea Party, but I understand where they are coming from. They are fed up with our current corrupt ineffecient form of government that has become self-serving and inept. They want change, albeit in the form of their perspective. However, I agree with their premise of wanting change.

 

[B_starinvestor]

We got downgraded because we didn't cut enough and we didn't raise taxes.

Bullshit. You would have to raise taxes 66% to make a dent in this debt scenario. Good luck passing a 66% tax increase. The downgrade occurred because there weren't sufficent spending cuts. The handouts are in full force.

We're not broke, we are just unwilling to set our tax rate to match our spending rate. If we really set spending to match what we are taking in and didn't increase taxes there would be rioting in the streets (like in Spain, Portugal, Italy, Greece, and France).

Laughable. Entitlements are 100% of our tax receipts. 2.2 trillion in tax receipts and 2.2 trillion in entitlements. 60% of our spending is on entitlements. So you would need a 66% tax increase to offset spending. Good luck.

People will find out quickly that they actually LIKE services like fast highways and (fairly) safe Air Traffic Control, and Medicare for Grandma

Highways and air traffic control aren't even a rounding error in this budget.

All of these cuts are just going to push us BACK into recession and end up causing a bigger deficit down the line. GDP last quarter was already a 0.2 percent. These cuts alone are enough to push that negative as businesses cut back to prepare for less government spending

You're right. Just keep taking away from one group, and giving to another until the U.S. turns into Greece.

 

[deleted15807]

Our politicians are corrupt.

And who routinely 'rehires' them on election day? When you have selfish ignorant voters you get selfish ignorant politicians.


Fuck Hope

 

[FRE]

It blows my mind to constantly and consistently see this "Republicans v. Democrats' argument. Can't you see that they are all corrupt? That our government is completely misguided? That our government does not truly represent the people to whom they are supposed to represent?

I personally believe that we as a people need to hold our elected representatives more accountable. If that measn term limits on all members of Congress, so be it. If that implies, revolution, so be it.

If all the politicians are corrupt, it is the fault of the voters for refusing to elect honest politicians. Politicians who tell voters the truth are not elected. To be elected, politicians have to tell voters what the voters want to hear, regardless of whether it is true.

It might help if our school system had really good civics classes to instruct students on how our government is supposed to function and what citizens' responsibilities are. As it is, the majority of people are shockingly ignorant about such matters.

 

[B_starinvestor]

This entire scenario is so incredibly simple, yet we continue to push and shove and allow politics to govern math.

We have a relatively small percentage of our population that produces things and pay into a pot (taxes/U.S. treasury.) We have a large percentage of people who produce nothing, do not pay into the pot, and take out of the pot. This part of the population is growing exponentially.

The pot is running dry. The pot has been downgraded.

There isn't much more to discuss.

 

[FRE]

And who routinely 'rehires' them on election day? When you have selfish ignorant voters you get selfish ignorant politicians.


Fuck Hope

Right. Obviously that means that those of us who carefully study the issues and would like to vote for honest politicians have to suffer because of the selfishness and ignorance of a majority of the voters.

Things could be worse. During the Gilded Age, when the Robber Barons flourished, company lobbyists actual went to legislative chambers (both state and federal) with suit cases full of money, sometimes even $500,000 and more, to bribe politicians. The techniques they use now are somewhat less egregious. Now they fill the airwaves with disinformation to sway voters and find ways to channel huge sums into political campaign funds.

It has been more than amply demonstrated that spending huge sums on political campaigns greatly influences the results. That is because the public is swayed by endless repetition. If the public were not swayed by endless repetition but rather by knowledge and good sense, there would be no advantage in spending huge sums on campaigns and corporation influence would be markedly reduced.

 

[RideRocket]

And who routinely 'rehires' them on election day? When you have selfish ignorant voters you get selfish ignorant politicians.


Fuck Hope

Yes and No. To not give a shit though leads us down the road to where we are today.

If all the politicians are corrupt, it is the fault of the voters for refusing to elect honest politicians. Politicians who tell voters the truth are not elected. To be elected, politicians have to tell voters what the voters want to hear, regardless of whether it is true.

It might help if our school system had really good civics classes to instruct students on how our government is supposed to function and what citizens' responsibilities are. As it is, the majority of people are shockingly ignorant about such matters.

So true. It is 'we the people' (to borrow a phrase) that need to step up and put our heads in the game. We need to be involved about things that truly matter - global economics, global warming, etc.; not what is going on on "The Hills" or "Jersey Shore". How pathetic. We need to live with a purpose.

 

[FRE]

This entire scenario is so incredibly simple, yet we continue to push and shove and allow politics to govern math.

We have a relatively small percentage of our population that produces things and pay into a pot (taxes/U.S. treasury.) We have a large percentage of people who produce nothing, do not pay into the pot, and take out of the pot. This part of the population is growing exponentially.

The pot is running dry. The pot has been downgraded.

There isn't much more to discuss.

I don't quite understand. During the Clinton administration, we actually had budget surpluses. The huge budget deficits occurred during the administration of George II. What happened during the administration of George II to cause the "percentage of people who produce nothing" to increase so drastically during his administration? And why aren't the large tax reductions a part of the problem? Perhaps you could help me to understand this.

 

[B_starinvestor]

I don't quite understand. During the Clinton administration, we actually had budget surpluses. The huge budget deficits occurred during the administration of George II. What happened during the administration of George II to cause the "percentage of people who produce nothing" to increase so drastically during his administration? And why aren't the large tax reductions a part of the problem? Perhaps you could help me to understand this.

Glad to oblige:

1. George II was an idiot. 2nd worst president in the last 100 years.
2. Unfortunately, 9/11 occurred in his first term. That froze the economy (tax receipts) and was a catalyst for defense spending.
3. Clinton was president during the most robust 8 years in American history with the technology boom and huge tax revenues. No wars.
4. Obama is the 1st worst president in the last 100 years.
5. Spending is the problem, not taxes. If everyone chipped in 5% of what they were given, we would have no problems. Too many people (over 50% of Americans) pay 0 taxes.

 

[deleted15807]

Right. Obviously that means that those of us who carefully study the issues and would like to vote for honest politicians have to suffer because of the selfishness and ignorance of a majority of the voters.

Yep you're strapped in the back seat of the car with a drunk driver at the wheel and his foot on the floor driving on a snow covered mountainous road in the night. I'm not certain when this country will ever be able to undo the disastrous George W. Bush presidency.

 

[FRE]

Glad to oblige:

1. George II was an idiot. 2nd worst president in the last 100 years.
2. Unfortunately, 9/11 occurred in his first term. That froze the economy (tax receipts) and was a catalyst for defense spending.
3. Clinton was president during the most robust 8 years in American history with the technology boom and huge tax revenues. No wars.
4. Obama is the 1st worst president in the last 100 years.
5. Spending is the problem, not taxes. If everyone chipped in 5% of what they were given, we would have no problems. Too many people (over 50% of Americans) pay 0 taxes.

Exactly how did 9/11 freeze the economy and tax receipts? Is it possible that inappropriate responses to 9/11, and not 9/11 itself, were the problem?

Isn't it possible that the tax cuts under George II at least contributed to the problem?

If it is true that "if everyone chipped in 5% of what they were given," wouldn't a modest increase in taxes have the same effect?

What has Obama done that has not been done in other prosperous countries that has been to the benefit of people in those countries, such as in Denmark, Norway, and Sweden?

 

[deleted15807]

Yes and No. To not give a shit though leads us down the road to where we are today.

If you think you can make selfish ignorant people not selfish and willfully ignorant well good luck with that! There is a vast well funded machinery in place to keep it that way.

 

[TomCat84]

Too many people (over 50% of Americans) pay 0 taxes.

Uh, sales tax and state taxes notwithstanding of course, right?

 

[RideRocket]

If you think you can make selfish ignorant people not selfish and willfully ignorant well good luck with that! There is a vast well funded machinery in place to keep it that way.[/QUOTE}

That's my point. The "well funded machinery" you refer to goes both ways - Democrat and Republican. We need to "wake the fuck up" and realize what's at stake. It's not Snooki or Brangelina or whatever garbage the media throws at us. It's our way of live that's at stake. People truly still come to this country because they believe in what America has to offer. Our history, by and large, has been formed by creating economic opportunities.

 

[deleted15807]

We need to "wake the fuck up" and realize what's at stake. It's not Snooki or Brangelina or whatever garbage the media throws at us. It's our way of live that's at stake.

I just do not see that happening. There are no 'facts' anymore. Everything can be spun. Statistics can be made to say whatever you want them to say. Every trade-off is one too many. Congress has a record high disapproval rating but most will get re-elected. It's just too much work for most people to read up on anything, which is essential, to really understand all the facets of a particular problem.

 

[earllogjam]

Whatever, as if these ratings are somehow reliable.

Aren't these the same credit rating agencies that gave AIG triple A credit ratings?

Their fraud was one of principal reasons for the economic meltdown, yet they suffered no consequences.

 

[deleted15807]

^
Rating the Ratings Firms: An 'I' for 'Ignore'

 

[B_VinylBoy]

We have a relatively small percentage of our population that produces things and pay into a pot (taxes/U.S. treasury.) We have a large percentage of people who produce nothing, do not pay into the pot, and take out of the pot. This part of the population is growing exponentially.

Unfortunately, you seem to think that the ones who invent are the ones who are already wealthy. When in reality, the ones that do are those with no money because they are the ones who have the incentive to create something to actually try to get paid. The wealthy only step in when they see someone else's hard work, believes in what it can do, and then finances it in hopes they get something in return.

But whatever... I'm sure if we did the research we'd find out that the Wright Brothers, Bill Gates and the inventors of the internet were already exceedingly wealthy before they created the airplane, Microsoft and email. Just to name a few, of course. And to limit it at that since I'm sure if we did, there wouldn't be much (if not any) evidence of such a thing.

 

[D_Harry_Crax]

If you think you can make selfish ignorant people not selfish and willfully ignorant well good luck with that! There is a vast well funded machinery in place to keep it that way.[/QUOTE}

That's my point. The "well funded machinery" you refer to goes both ways - Democrat and Republican. We need to "wake the fuck up" and realize what's at stake. It's not Snooki or Brangelina or whatever garbage the media throws at us. It's our way of live that's at stake. People truly still come to this country because they believe in what America has to offer. Our history, by and large, has been formed by creating economic opportunities.

Yes and no. Our history, by and large, also has been formed by creating and expanding civil rights and liberties, starting with the Bill of Rights, expanded by the 14th amendment, and court decisions and federal laws based on them. I hope (and know) someone still comes to this country for freedom of speech, freedom of religion, etc., and not just to be able to shop at Wal-Mart. By limiting your rhetoric to economic opportunities only, your post reminds me of the business executive who, during World War II, said the USA was fighting for its way of life--as exemplified by the electric toaster. (Note: I think the Nazis also had toasters.)

 

[pignalosajp]

They are devaluing the us dollar, they will have hyperinflation, the us fed is printing more money. The economies in America and Europe are being collapsed by design. This is an engineered economic collapse. The american economy will collapse.

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