Credit Rating lowered to aa - The Orange Mane

cutthemdown · 08-05-2011, 06:54 PM

Holy ****!

http://www.usatoday.com/money/econom...s-credit_n.htm

cutthemdown · 08-05-2011, 06:56 PM

Obama is a complete disaster. Please dems run a primary and get him off your ticket. Then no matter what this train wreck can't continue.

That One Guy · 08-05-2011, 06:57 PM

Saw this and meant to make the thread but forgot.

I read that this will cost us an additional $100B a year in interest, I believe. So we just spent, what, more than half of what we just cut from our budget? Way to be serious about this stuff, congress.

Fedaykin · 08-05-2011, 07:01 PM

"The credit rating agency said that it is cutting the country's top AAA rating by one notch to AA-plus. The credit agency said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation."

Translation: ****ing idiots tied one hand behind their backs by not looking to increase revenue in addition to cuts.

cutthemdown · 08-05-2011, 07:02 PM

No wonder Obama isn't even trying to have sanctions put on Syria. he's scared to death of what it would do to the economy to piss off Russia. Syria couple drop anthrax on a city right now and probably get away with it. The stimulus really ****ed everything up. Should have made police, fire, teacher unions bite the bullet and work for less. Instead they gave billion to states to let them try and ride out the recession. That was the obama plan, pay back union cronies, and in a couple yrs when economy picks up take credit. Ooopps didn't work. Now what is his next move? Does he even do anything?

Fedaykin · 08-05-2011, 07:03 PM

Quote:

Originally Posted by cutthemdown

Obama is a complete disaster. Please dems run a primary and get him off your ticket. Then no matter what this train wreck can't continue.

Yeah, the guy trying to implement a more comprehensive solution (cuts AND revenue increases) caused the ratings agency to be concerned that not enough was being done.

Brilliant deduction skills, dumbass.

gunns · 08-05-2011, 07:05 PM

Quote:

Originally Posted by cutthemdown

Obama is a complete disaster. Please dems run a primary and get him off your ticket. Then no matter what this train wreck can't continue.

No way you can blame this on one person. This next election should be very interesting.

Spider · 08-05-2011, 07:06 PM

Quote:

Originally Posted by cutthemdown

No wonder Obama isn't even trying to have sanctions put on Syria. he's scared to death of what it would do to the economy to piss off Russia. Syria couple drop anthrax on a city right now and probably get away with it. The stimulus really ****ed everything up. Should have made police, fire, teacher unions bite the bullet and work for less. Instead they gave billion to states to let them try and ride out the recession. That was the obama plan, pay back union cronies, and in a couple yrs when economy picks up take credit. Ooopps didn't work. Now what is his next move? Does he even do anything?

u being an idiot on purpose?

Rigs11 · 08-05-2011, 07:11 PM

The repubs cried and screamed like spoiled children until the p***Y dems caved and agreed to no tax increases.yet this is obamas fault.come on cut,put your party allegiance aside,you are smarter than that.leave that dribble to epic drama

TheDave · 08-05-2011, 07:17 PM

Quote:

Originally Posted by cutthemdown

Obama is a complete disaster. Please Dem's run a primary and get him off your ticket. Then no matter what this train wreck can't continue.

Technicaly it's.... AA+ (there is a difference...supposedly)

Next...Obama?

Personally I'm as sick of him as one can get, but being honest the guy requested over and over again comprehensive legislation to deal with this issue.

It was congress and the Senate who refused to create legislation worth a damn, on top of that, the crap they did create is the exact bill that just led to our credit downgrade. 48 hours before the tank runs dry... hey lets try a constitutional amendment (a process that usually take about 1 year... In todays political climate probably 3 years... if ever)

Obamas only choice left was to invoke the 14th amendment, a procedure that combined with the inevitable legal wrangling that would follow would have resulted in downgrade just the same.

This is a failure of the Senate and specifically The House... They are the ones that create both the budget and the debt ceiling.

TheDave · 08-05-2011, 07:20 PM

Quote:

Originally Posted by That One Guy

Saw this and meant to make the thread but forgot.

I read that this will cost us an additional $100B a year in interest, I believe. So we just spent, what, more than half of what we just cut from our budget? Way to be serious about this stuff, congress.

Acording to how things when Japan was down graded this should mean little if anything in the short term. Combine that with the fact that the collective average date to maturity on our current debt structure is 4 years. Meanning even a slight short term rise wouldn't be felt for years.

That One Guy · 08-05-2011, 07:35 PM

Quote:

Originally Posted by TheDave

Acording to how things when Japan was down graded this should mean little if anything in the short term. Combine that with the fact that the collective average date to maturity on our current debt structure is 4 years. Meanning even a slight short term rise wouldn't be felt for years.

Beer+My Ignorance=No idea what you're talking about.

But I trust ya so I'll take your word for it. Put simply, it's not as big a deal as they tried to make it sound?

El Minion · 08-05-2011, 07:35 PM

America's credit downgraded, America hoisted by its petard. Thank you Tea Baggers, F * c k i n g A$$holes!

Obushma · 08-05-2011, 07:36 PM

Should have followed the Paul's lead, nobody has any room on this forum to piss and moan now, when you supported raising the debt limit 3 days ago. Bunch of ****ing suckers, just like TARP, have your heads shoved so far up your party lines ass, you'll believe anything they tell you.

Dance Monkeys

Hope everyone of you who supported raising the debt limit, looses their ass in the market.

That One Guy · 08-05-2011, 07:37 PM

Quote:

Originally Posted by TheDave

Technicaly it's.... AA+ (there is a difference)

Next...Obama?

Personally I'm as sick of him as one can get, but being honest the guy requested over and over again comprehensive legislation to deal with this issue.

It was congress and the Senate who refused to create legislation worth a damn, on top of that, the crap they did create is the exact bill that just led to our credit downgrade. 48 hours before the tank runs dry... hey lets try a constitutional amendment (a process that usually take about 1 year... In todays political climate probably 3 years... if ever)

Obamas only choice left was to invoke the 14th amendment, a procedure that combined with the inevitable legal wrangling that would follow would have resulted in downgrade just the same.

This is a failure of the senate and specifically congress... They are the ones that create both the budget and the debt ceiling. Everyone of those SOB's is responsible for this. They all equally share this albatross.

See, I saw it pretty simple though. S&P says "Cut $4T or we downgrade you" and they proceed to cut $1-2T and most of that is promises to cut something down the road.

If I can't pay all my bills, my first instinct isn't to find a better paying job. It's to find out where I'm wasting money.

That One Guy · 08-05-2011, 07:38 PM

Quote:

Originally Posted by El Minion

America's credit downgraded, America hoisted by its petard. Thank you Tea Baggers, F * c k i n g A$$holes!

Huh?

Not sure how Tea Party has any influence here? Explain?

That One Guy · 08-05-2011, 07:39 PM

Quote:

Originally Posted by Obushma

Should have followed the Paul's lead, nobody has any room on this forum to piss and moan now, when you supported raising the debt limit 3 days ago. Bunch of ****ing suckers, just like TARP, have your heads shoved so far up your party lines ass, you'll believe anything they tell you.

Dance Monkeys

Hope everyone of you who supported raising the debt limit, looses their ass in the market.

In my defense, I've been saying to let folks starve for some time now.

Fedaykin · 08-05-2011, 07:40 PM

Quote:

Originally Posted by Obushma

Should have followed the Paul's lead, nobody has any room on this forum to piss and moan now, when you supported raising the debt limit 3 days ago. Bunch of ****ing suckers, just like TARP, have your heads shoved so far up your party lines ass, you'll believe anything they tell you.

Dance Monkeys

Hope everyone of you who supported raising the debt limit, looses their ass in the market.

Raising the limit is not the problem. Failing to create a comprehensive plan going forward is.

That One Guy · 08-05-2011, 07:41 PM

Quote:

Originally Posted by Fedaykin

Raising the limit is not the problem. Failing to create a comprehensive plan going forward is.

Hey, look, we agree about something! I'll drink to that.

TheDave · 08-05-2011, 07:44 PM

Quote:

Originally Posted by That One Guy

Beer+My Ignorance=No idea what you're talking about.

But I trust ya so I'll take your word for it. Put simply, it's not as big a deal as they tried to make it sound?

$9.5 Trillion of our Debt is nothing but a collection of TBills with varying maturity dates and interest rates... We turn over $9.5 trillion about every 4 years.

Therefore regardless of TBill rates the next couple of years should be effected very little. Especially with rates at such historic lows.

By the way the other $4.5 Trillion is money the government has taken from Social Security and other Government Overages. No interest and "Technically" we never have to pay it back.

Obushma · 08-05-2011, 07:48 PM

Quote:

Originally Posted by Fedaykin

Raising the limit is not the problem. Failing to create a comprehensive plan going forward is.

Wrong. We just said we can't pay our bills, soon our debt will be increased by 2 trillion, that's why we were downgraded.

baja · 08-05-2011, 07:54 PM

This is the beginning of a serious slide down for the USA. Really really bad news if you can call it news.

Good thing the market is closed tomorrow.

That One Guy · 08-05-2011, 07:55 PM

Quote:

Originally Posted by Obushma

Wrong. We just said we can't pay our bills, soon our debt will be increased by 2 trillion, that's why we were downgraded.

Plugging your ears and screaming "no" gets nothing done. If they'd given a viable plan to turn things around, it'd have been acceptable to say "yes".

Of course, they didn't, they wouldn't, and this whole post is extremely hypothetical.

Fedaykin · 08-05-2011, 07:56 PM

Quote:

Originally Posted by Obushma

Wrong. We just said we can't pay our bills, soon our debt will be increased by 2 trillion, that's why we were downgraded.

No, had we not raised the limit, we would have been saying "sorry, we can't/won't pay our bills". You know the meaning of the word default, right?

That One Guy · 08-05-2011, 07:56 PM

Quote:

Originally Posted by baja

This is the beginning of a serious slide down for the USA. Really really bad news if you can call it news.

Good thing the market is closed tomorrow.

My policy is just to not be in the poorest 1/3rd. As long as 1/3rd of the population is more poor than me, I can adjust before I run out of money. I have a long time before I start missing any meals, I think.

08-05-2011, 06:54 PM	#1
cutthemdown A verbis ad verbera Zimm to HOF Join Date: Mar 2006 Location: Long Beach Posts: 32,416	Credit Rating lowered to aa Holy ****! http://www.usatoday.com/money/econom...s-credit_n.htm

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08-05-2011, 06:56 PM	#2
cutthemdown A verbis ad verbera Zimm to HOF Join Date: Mar 2006 Location: Long Beach Posts: 32,416	Obama is a complete disaster. Please dems run a primary and get him off your ticket. Then no matter what this train wreck can't continue.

08-05-2011, 06:57 PM	#3
That One Guy Producer of Nonsense Join Date: Aug 2006 Location: Sun and Beachville Posts: 14,042 Adopt-a-Bronco: None	Saw this and meant to make the thread but forgot. I read that this will cost us an additional $100B a year in interest, I believe. So we just spent, what, more than half of what we just cut from our budget? Way to be serious about this stuff, congress.

08-05-2011, 07:01 PM	#4
Fedaykin Ring of Famer Join Date: Nov 2006 Posts: 3,790 Adopt-a-Bronco: None	"The credit rating agency said that it is cutting the country's top AAA rating by one notch to AA-plus. The credit agency said that it is making the move because the deficit reduction plan passed by Congress on Tuesday did not go far enough to stabilize the country's debt situation." Translation: ****ing idiots tied one hand behind their backs by not looking to increase revenue in addition to cuts.

08-05-2011, 07:02 PM	#5
cutthemdown A verbis ad verbera Zimm to HOF Join Date: Mar 2006 Location: Long Beach Posts: 32,416	No wonder Obama isn't even trying to have sanctions put on Syria. he's scared to death of what it would do to the economy to piss off Russia. Syria couple drop anthrax on a city right now and probably get away with it. The stimulus really ****ed everything up. Should have made police, fire, teacher unions bite the bullet and work for less. Instead they gave billion to states to let them try and ride out the recession. That was the obama plan, pay back union cronies, and in a couple yrs when economy picks up take credit. Ooopps didn't work. Now what is his next move? Does he even do anything?

08-05-2011, 07:11 PM	#9
Rigs11 Ring of Famer Join Date: Dec 2002 Posts: 7,818	The repubs cried and screamed like spoiled children until the p***Y dems caved and agreed to no tax increases.yet this is obamas fault.come on cut,put your party allegiance aside,you are smarter than that.leave that dribble to epic drama

08-05-2011, 07:35 PM	#13
El Minion Ring of Famer Join Date: Apr 2005 Posts: 1,529	America's credit downgraded, America hoisted by its petard. Thank you Tea Baggers, F * c k i n g A$$holes!

08-05-2011, 07:36 PM	#14
Obushma Ring of Famer Bring your lunch pail Join Date: Feb 2004 Location: SLC Utah Posts: 2,079 Adopt-a-Bronco: Zane Beadles	Should have followed the Paul's lead, nobody has any room on this forum to piss and moan now, when you supported raising the debt limit 3 days ago. Bunch of ****ing suckers, just like TARP, have your heads shoved so far up your party lines ass, you'll believe anything they tell you. Dance Monkeys Hope everyone of you who supported raising the debt limit, looses their ass in the market.

08-05-2011, 07:54 PM	#22
baja It is what it Is. Pay attention. Join Date: Apr 2001 Posts: 53,745 Adopt-a-Bronco: Buy My Book	This is the beginning of a serious slide down for the USA. Really really bad news if you can call it news. Good thing the market is closed tomorrow.