S&P downgrades US credit rating from AAA

I keep hearing Ryan's plan brought up, but his plan was dismissed by the Dems and MOCKED openly by the Obama administration. The ONLY plan Obama has put forth raised the debt by 10 trillion over the next 10 years and was voted down UNANIMOUSLY by the Senate. Yeah, he was really concerned with avoiding a downgrade and lowering the debt.

Ryan's plan was going to take 40+ years to pay down the debt and no seniors currently on SS were going to see any changes at all. It was tame and gradual... and the Dems screamed about how destructive it was. If that's their view, they will NEVER compromise in a manner that actually makes meaningful cuts in spending.

Update: Dow at -507.45 at the time of this post.

Tea party is to blame....too much obstruction shows other you will not be able to get anything done....All this nonsense over the debt credit limit...should have just raise the damn thing and move forward...nope not these teabaggers in congress....good job teabaggers raising the interest rates..

londonfog said:

Tea party is to blame....to much obstruction shows other you will not be able to get anything done....All this nonsense over the debt credit limit...should have just raise the damn thing and move forward...nope not these teabaggers in congress....good job teabaggers raising the interest rates..

Click to expand...

Reading is not your strong point is it? Despite all the evidence to the contrary of this post in this thread you still felt the need to write up this pathetic dribble.....Keep spewing that bullshit someone might beleive it one day.

Ryan's plan turned Medicare into a Voucher system and was rejected by the American Public as a whole not just the Dems in Washington.

More Americans support ending the tax cuts for the rich than they do eliminating Medicare.

If the Republicans want to end SS and Medicare they had better be prepared to pay me back every dime that I have paid into the system they call an entitlement.

londonfog said:

Tea party is to blame....to much obstruction shows other you will not be able to get anything done....All this nonsense over the debt credit limit...should have just raise the damn thing and move forward...nope not these teabaggers in congress....good job teabaggers raising the interest rates..

Click to expand...

Balanced budget ammendment and a gold standard please- if anything most of the tea party are to moderate and to open to comprimise

beardo said:

Balanced budget ammendment and a gold standard please- if anything most of the tea party are to moderate and to open to comprimise

Click to expand...

ROFL...I like you...Have a job opening still if you interested

Balanced Budgets lead to forced and steep Tax Increases. Remember, the Tea Party is very short sighted when it comes to the issues. They have done nothing in Washington except cost the Feds more money. Ah the irony.

Banditt said:

Reading is not your strong point is it? Despite all the evidence to the contrary of this post in this thread you still felt the need to write up this pathetic dribble.....Keep spewing that bullshit someone might beleive it one day.

Click to expand...

Ok will do...Damn Teabaggers fault for this bullshit..sorry that you to blind to see

Johnnyorganic said:

Nice try.

Half of the Donks in the House voted against the debt limit increase, too. If you reply that those votes were 'symbolic,' then the same applies to the Teabaggers who voted against it as well.

Click to expand...

The "grand Bargain" was never voted on, nice try though.

The S&P downgraded the U.S. after the debt surpassed 100% of the GDP. This should not be a surprise to anyone.

Click to expand...

Actually, our debt is NOT over 100% GDP; In fact, they downgraded us because they wanted to see our debt stablize at 73% in a decade (which is what 4 trillion in cuts over a decade would do), the TEA PARTY is the sole group of lawmakers in the ENTIRE congress who were unwilling to vote for Obama and Beohner's "grand bargain". It is the TEA PARTY that killed the deal, not Obama, not even Beohner or anyone else; It was the House Freshmen who got voted in under the TEA PARTY (R) ticket in the 2010 midterms. Any other congress in history would've passed the "grand bargain" and Republicans would have considered it a total victory.

Really, to try and put the blame on Obama is among the most partisan positions I've seen you take Johnny; It is quite clear that the "grand Bargain" proposal was enough to avert a downgrade, stablize debt, etc AND it was the only proposal that was even REMOTELY a compromise aside from the Bowles-Simpson proposal, which TEA PARTY members also opposed because it contained revenue increases... I mean, most rational people regardless of political affiliation should be able to look at this whole debacle and realize that the President, Democrats and moderate Republicans were all on board - it was solely the TEA PARTY that stood in the way and ultimately forced a $2.5 trillion deal as opposed to over a $4 trillion deal over an ENTIRELY IDEALOGICAL position to oppose any revenue increases. That is FACT.

BendBrewer said:

Balanced Budgets lead to forced and steep Tax Increases. Remember, the Tea Party is very short sighted when it comes to the issues. They have done nothing in Washington except cost the Feds more money. Ah the irony.

Click to expand...

how about we do forced and steep spending cuts instead

beardo said:

how about we do forced and steep spending cuts instead

Click to expand...

Why is it always instead? We need to do both.

beardo said:

how about we do forced and steep spending cuts instead

Click to expand...

Because you got the quote wrong. It's the Economy. Stupid.

Again, Tea Baggers are short sighted. You cannot neglect the economy when making budget decisions. The Federal Government has always spent more in tough economic times. The Tea Baggers are not able to understand that it is the economy that matters.

We gave Tax Cuts based on a projected SURPLUS from the Bush administration. Don't forget that. Where is the surplus? Where is the justification for the tax cuts?

Nobody ever dares to try and answer those.

If you want fiscal constraint, a debt limit based off of a percentage of GDP is much more workable; A BBA is just an attempt to starve the beast, its a mess economically.

mame said:

it was solely the TEA PARTY that stood in the way and ultimately forced a $2.5 trillion deal as opposed to over a $4 trillion deal over an ENTIRELY IDEALOGICAL position to oppose any revenue increases. That is FACT.

Click to expand...

Yeah, this strange idea that if you spend less than you take in you are what we call "Solvent".

If the Tea Party was in charge of all America, anyone who was paying a Mortgage would be forced to sell their house and rent. No Debt Allowed.

That's a pretty shitty and irresponsible way to run a household and leads to a bad future.

Investments are a good thing.

BendBrewer said:

If the Tea Party was in charge of all America, anyone who was paying a Mortgage would be forced to sell their house and rent. No Debt Allowed.

That's a pretty shitty and irresponsible way to run a household and leads to a bad future.

Investments are a good thing.

Click to expand...

Strawman fallacy. Illogical, easily disproved. Want me to?

NoDrama said:

Yeah, this strange idea that if you spend less than you take in you are what we call "Solvent".

Click to expand...

No, if solvency was most important they would have accepted the largest deal but they made clear that omitting revenues was more important than balancing the budget when they rejected ANY revenues right out the gate. How do you explain that? I mean, you said yourself you'd raise revenues(using logic likely) - how is their position of NO TAX INCREASES (at all costs, I might add... even if that means less cuts) not an ideological one?

mame said:

No, if solvency was most important they would have accepted the largest deal but they made clear that omitting revenues was more important than balancing the budget when they rejected ANY revenues right out the gate. How do you explain that? I mean, you said yourself you'd raise revenues(using logic likely) - how is their position of NO TAX INCREASES (at all costs, I might add... even if that means less cuts) not an ideological one?

Click to expand...

Because they Tea Party is doing what they were voted in to do. Remember someone saying that a third party (Tea Party) wasn't possible due to time constraints and that the TEA would have to be with the republicans? Know what TEA stands for?

Yeah Taxed Enough Already and taxes are at life time lows for these people.

That's what makes them Fucking Idiots.

Texas Education Agency ????http://www.tea.state.tx.us/