Obama our historic president made history for being the first sitting president to reside over the lowering of our once AAA+ credit rating.
What president wouldn't want that "honor" on their resume right? I guess that's just one more accomplishment Obama can run on in his campaign next year. Even though the bill that made Standard & Poors lower the country's credit rating was a bi partisan bill, if Obama, Pelosi and Reid wouldn't have spent five trillion dollars from the time Obama was sworn in up until now, our country would still have it's triple A credit rating from S&P. That is just a fact. I blame Republicans as well for the downgrade. They don't get a pass on this either. As you all know, I am a conservative not a party hack like some are. Besides the actual debt itself, compromise is what ultimately lead to the downgrade. Republicans had the mandate to push forth with huge and actual cuts to the government's spending. John Boehner and Mitch McConnell negotiated that away. What did they do instead? They "compromised", when they were in the position of strength. This is a quick video I did Friday night right after the downgrade was reported.
I won't be surprised to hear from Obamatrons that the reason Standard & Poors lowered the nations credit rating was, because Obama is black. I know how these kooks "think", so would it really surprise you if they didn't try to use that excuse? So because of reckless spending and compromising on not really addressing the problem of spending, Obama and others are actually trying to point the finger at Standard & Poors!! S&P didn't run up five trillion dollars in debt in two years and seven months, and Standard & Poors didn't turn an annual deficit of four hundred billion a years under the last term of Bush to one point six trillion as it currently stands under Obama. Also, progressives are trying to blame the Tea Party of all people. I know it's beyond irrational, but the porkers in congress need a scapegoat, and for progressives the Tea Party caucus is it. Here's John "I spent Christmas in Cambodia" Kerry trying to lay the S&P downgrade at the feet of the Tea Party Caucus.
The Benny Hill show of progressive comedy continues. Now progressives are actually trying to reassure investors after the S&P downgrade. They want investors to keep wasting their money buying debt that has an increasing chance of not ever being repaid. So lets recap, the Tea Party is being blamed even though they weren't even around prior to this year, the Republican leadership is spineless and Obama doesn't have a clue that actual tax payers are the ones on the hook for his drunken socialist spending.
I won't be surprised to hear from Obamatrons that the reason Standard & Poors lowered the nations credit rating was, because Obama is black. I know how these kooks "think", so would it really surprise you if they didn't try to use that excuse? So because of reckless spending and compromising on not really addressing the problem of spending, Obama and others are actually trying to point the finger at Standard & Poors!! S&P didn't run up five trillion dollars in debt in two years and seven months, and Standard & Poors didn't turn an annual deficit of four hundred billion a years under the last term of Bush to one point six trillion as it currently stands under Obama. Also, progressives are trying to blame the Tea Party of all people. I know it's beyond irrational, but the porkers in congress need a scapegoat, and for progressives the Tea Party caucus is it. Here's John "I spent Christmas in Cambodia" Kerry trying to lay the S&P downgrade at the feet of the Tea Party Caucus.
The Benny Hill show of progressive comedy continues. Now progressives are actually trying to reassure investors after the S&P downgrade. They want investors to keep wasting their money buying debt that has an increasing chance of not ever being repaid. So lets recap, the Tea Party is being blamed even though they weren't even around prior to this year, the Republican leadership is spineless and Obama doesn't have a clue that actual tax payers are the ones on the hook for his drunken socialist spending.
posted by Alpha Conservative Male at 11:31 PM
20 Comments:
This downgrade of the credit rating is no doubt President Obama's baby. No credit lender no rater will back you when you have huge debt, and seemingly refuse to raise more revenue.
Although S&P cites other reasons for the downgrade, they specifically highlight the idea of congress not making any efforts to increase revenues.
"Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act".
Funny how a "rating agency" would go so far to mention the Bush Tax Cuts... Oh yeah, tax cut increase revenues! I guess S&P are too dumb to know that. And what about all those jobs created by the "job creators" because of the tax cuts? I guess S&P ignored that too!
"Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options.
S&P Downgrades U.S. Debt Rating — Press Release.
One easy way to restore the U.S. credit rating.... END THE STUPID WAS AND INCREASE TAXES ON THE MILLIONAIRES!
The millionaires don't have enough money to pay ALL the taxes the Democrats need to give away in order to stay in office. Nobody does.
We don't need to increase taxes on the millionaires. And go after the job creators to and small businesses to? What we need is to redo the entire tax code. Simplify it and make it fair for everyone. Only 50% are paying taxes and the top what, 2% are paying the most. You moron, you know nothing about proper economics.
http://www.cato.org/pub_display.php?pub_id=13016
http://www.americanthinker.com/2011/07/raising_taxes_not_revenue.html
CB;"Besides the actual debt itself, compromise is what ultimately lead to the downgrade".
Are you kidding Tyrone? You couldn't be more wrong if you tried to be wrong!
"The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year’s wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently".
Does, "America’s governance and policymaking becoming less stable, less effective, and less predictable", sound like compromise?
Even though the political process shouldn't be none of S&P's business, they see the shortfall's of the Budget Control Act due to a lack of compromise.
First off you have Speaker Boehner touting that he got "ninety-eight percent" of what he wanted. How in the hell can someone who says they got 98% of what they wanted, claim that they "compromised????????"
In reality the entire Debt Bill process was held hostage. Republican after Republican (including you Tyrone) pushed the idea of "not raising the debt ceiling!" Standard & Poors clearly states that the political process played a major role in their decision.
So, okay, you're not being a Republican hack. But by that same token, you are being a "political hack" for the insane idea of haggling over and politicizing not raising the debt ceiling. That's what you wanted, and S&P showed you what you get! Unfortunately (and what I believe was the intent) President Obama has it placed squarely on his shoulders.
p allen "This downgrade of the credit rating is no doubt President Obama's baby. No credit lender no rater will back you when you have huge debt, and seemingly refuse to raise more revenue. "
Raise more revenue is code for increasing taxes allen. I know how the wording game works. I'm surprised you didn't use the term "revenue enhancers" lol People who have a budget simply live within their means based on the revenue they have. Thy keep the core essentials and do away with discretionary items. The government is no different. As I stated in my video, if the government has to borrow money just to pay it's current bills, how is it going to pay back the every increasing borrowed money? Increased revenue can only come naturally through an uptick in the economy. That is when more tax revenue is created through the increased economic activity of goods and services being consumed and taxes being generated from them allen.
p allen "Although S&P cites other reasons for the downgrade, they specifically highlight the idea of congress not making any efforts to increase revenues. "
What press release was you reading? Was the Mad Magazine edition allen? S&P stated that they wanted to see at least four trillion in cuts. Now did the bill Obama signed, have four trillion in cuts allen. Shaking your head back and forth will do just fine for an answer. All the bills debated were based simply off PROJECTIONS not actual cuts in spending. Baseline budgeting was never addressed in any bill. All the bills outlined was "cutting the GROWTH OF SPENDING not cutting spending itself.
http://www.foxbusiness.com/markets/2011/07/28/sp-4-trillion-is-only-start/
Joe Conservative "Progressives are good at promising people other people's money. It's the triple D concept Joe. Keep them Dumb, Dependent and voting Democrat.
p allen "Are you kidding Tyrone? You couldn't be more wrong if you tried to be wrong!"
What kind of funky math are you using allen? Of course it was the debt, If you have a credit card and max it out, will your FICO score go down or up based on your debt increasing to your credit limit? Based on your funky logic, the U.S federal government should be able to raise the debt limit indefinitely and should always have a AAA+ credit rating.
CB;"What press release was you reading? Was the Mad Magazine edition allen? S&P stated that they wanted to see at least four trillion in cuts".
Tyrone, you don't read nor comprehend well at all. In the article that "YOU" linked to, S&P exec John Chambers was asked about the $4 trillion figure. His answer;
"First of all, that figure comes initially from the Bowles-Simpson fiscal commission, and it was embraced by President Obama in his April 13 speech and Paul Ryan in his counter-budget proposal. And so you had policy makers converging around the amount. Now actually the $4 trillion, depending on whether it is front-loaded or back-loaded, is not going to do the trick in terms of stabilizing U.S. government debt-to GDP ratios".
F.Y.I.- It was the person that wrote the article who put forth the idea that S&P "wanted" a $4 trillion Debt deal. And being that the article was written before the Debt Bill was passed, anything said was pure speculation.
It's no wonder that those who exclusively watch FOX News are the most misinformed souls on the planet...
So yet again you're in "dreamland" making up fairy tales to suit your argument. Do yourself a favor....READ THE GOSH-DARN REPORT!!!
HERE IS THE LINK to the S&P press release -AGAIN- please read it an find where S&P mentions anything about "$4 trillion in cuts." YOU'LL FIND THAT THEY DON'T!
It's obvious and written in plain English that S&P assumed the Debt Bill would contain "Revenue Increases." The bill didn't. So in part of their explanation they wrote;
"our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues".
It can't any clearer than that!!
CB;"If you have a credit card and max it out, will your FICO score go down or up based on your debt increasing to your credit limit?.
Yet another baseless comparative conservative talking point. The U.S. Government fiscal monetary matters can hardly be compared with how the average person handles their finances.
The U.S. Government is in no way economically comparable to average personal finances. Your income is not based on what you collect from those representative of the population you govern. When you perform a service you expect to be paid for your service. When the government performs a service, it's done for the good of the people. When you spend money you do so to enhance your own lifestyle. When the government spends money it's done for the good of the country and it's people.
Thus, you have two totally different ways, and reasons for income, and two totally different ways, and reasons for spending. They manage to behave very differently.
Alpha Conservative, why does liberal lying scum like allen post on your blog? I enjoy reading how you kick his butt shooting down every lie he writes.
Obama and the liberals have succeeded in bankrupting the country. So thier attempting to blame on the Tea Party? Obama alone is responsible for the SP downgrade. SP demanded the US to cut four trillion dollars from the debt and Obama refused by not agreeing to cut, cap and balance.
Obama wants to raise taxes. Raising taxes will only make things worse and will kill jobs. One more year of this idiot left to go. After he's voted out he can go back to kenya.
-Dave S.
btw - Did I mention that I can spend "other people's money" better than THEY can, too? p. anthony, send me a check, and I'll PROVE it! If you're not 100% satisfied with the way I spend it, just send me ANOTEHR check for 10% More the following month, and you'll finally begin to learn just what "progressive" government means.
Dave S.;"SP demanded the US to cut four trillion dollars from the debt and Obama refused by not agreeing to cut, cap and balance".
First off, how can S&P "demand" anything from the U.S. Government? All due respect but, are you out of your rabid mind? Secondly, Cut, Cap and Balance didn't call for $4 trillion in cuts. Third, are you out of you rabid mind?
Dave;"Raising taxes will only make things worse and will kill jobs".
Kill Jobs?? That's a right-wing talking point. Are you a parrot Dave? The Bush Tax Cuts have been law for almost 10 years. Where's they jobs they are suppose to create? Wheres the increased revenue right-wingers claim come from tax cuts?
Dave;"After he's voted out he can go back to kenya".
Well isn't that special... Methinks that statement speaks for itself...
Joe;"Did I mention that I can spend "other people's money" better than THEY can, too?".
Joe, you must be a millionaire! Therefore I can't blame you for wanting to pay as little taxes as possible.
However, you'll never convince me to send you anything, nor support your causes in any way. Hell, I'm not one of those idiot working class types duped into supporting a right-wing agenda that totally goes against my own interests.
Let me guess... You're from a family that's had millions for a few generations. So, you're used to spending "other peoples money!" Okay fine, you've never worked a day in your life, and you're living off of dad's millions. Are you waiting for dad to kick the bucket so you can get your share of the empire your great grand parents started?
The idea that you're rich is something I don't hold against you. You were fortunate to have been born with a silver spoon in your mouth. More power to you!! However I can't back you up when it comes to paying your fair share of taxes. You'll have to continue to create some kind of wedge issues to fool other working class saps into supporting your political agendas. I'm sorry, but I'm not buying it...
p allen "First off, how can S&P "demand" anything from the U.S. Government? All due respect but, are you out of your rabid mind? Secondly, Cut, Cap and Balance didn't call for $4 trillion in cuts. Third, are you out of you rabid mind?"
If the U.S Government wanted to keep it's AAA+ credit rating, S&P told them point blank what was required to do so back in April. S&P aren't the bad guys in this. Even though that is clearly the new Democratic tactic in which to make them the fall guy for the inability of the piggies in congress to lay off the croft.
p allen ""First of all, that figure comes initially from the Bowles-Simpson fiscal commission, and it was embraced by President Obama in his April 13 speech and Paul Ryan in his counter-budget proposal"
Did the bill that Obama signed his john hancock on have $ 4 trillion in cuts allen, yes or no? A week before the comprise was struck S&P even said that both bills weren't good enough. The bottom line once again is that congress and Obama new the requirements in order to save the AAA rating. They though ultimately S&P wasn't serious, they found out they were.
anon "Alpha Conservative, why does liberal lying scum like allen post on your blog? I enjoy reading how you kick his butt shooting down every lie he writes."
It's simple. Allen demonstrates progressive logic, which we both know doesn't make a lick of sense. Sometimes Allen helps to advance conservatism more then he realizes.lol
Joe, you must be a millionaire!
Nope. I'm a politician... and you ARE sending me your money.
Thanks, btw. ;)
Joe;"Nope. I'm a politician... and you ARE sending me your money".
Really? Just a couple of questions-
What office do you hold?
How long have you held the office?
What type, and how much influence can you wield?
Can you guarantee that under your authority our interactions will be sound and more importantly veiled?
How about this - I'll send you a proposal, let me know how much you need.
http://www.americanthinker.com/2008/10/what_really_happened_in_the_mo.html
http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=related
http://www.youtube.com/watch?v=_7Xtj04QiQg&feature=relmfu
I'm sorry, I don't make veiled transactions. I'm not a Democrat.
As for the rest, that's confidential. I tell you what though, I'll let you do outreach for my next campaign if you promise to never to vote Democrat again. Do a good job, and we might be able to find you something suitable to your talents. ;)
btw - If you're buying any of this, I've got an authentic copy of the U.S. Declaration of Independence I'd be willing to part with for a few hundred large... :+
Joe;"I'm sorry, I don't make veiled transactions. I'm not a Democrat".
You don't make veiled transactions??
Then you're not a POLITICIAN!
You don't make veiled transactions?
Like I said, I'm not a member of George Soros "Open Society of Democrats, Institute", where the highest bidder gets whatever he wants and George is always the highest bidder.
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