S&P Downgrades US To AA+, Outlook Negative

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In summary, the credit rating agencies downgraded the United States due to concerns over the effectiveness of American policymaking and political institutions. The downgrade is mostly due to a failure to cut spending, and the fear is that we'll inflate our way out of increasing government obligations. Mainstream republicans and democrats didn't want to cut spending enough, and the tea party was the only political faction that had a plan that would have avoided a downgrade. The senate investigation of the credit ratings agencies a few years back showed that they were accused of giving triple A ratings to packaged sub prime loans. It looks like it is pay back time.
  • #211
WhoWee said:
You made a very big jump from your comment that she "looks" incompetent and untrustworthy to your position that "she is clearly both incompetent and untrustworthy"

Oh! I’m terribly sorry! I should have know that this kind of very advanced implicit reasoning; [too most people she] "looks" and [to me] "she is clearly both incompetent and untrustworthy", is way over your current level.

WhoWee said:
your childish photos

Well, I just put there to make you happy – it matches your level of debating, perfect.

WhoWee said:
you haven't supported anything

In the misty haze of people smoking tea, that would be the "tea truth", too everyone else reading this fruitful debate – it’s a joke, especially since you are running around in this forum telling everyone else to stop acting like a troll. :smile:


PS: M&I just called, they downgraded you to "D: has deflected on obligations and M&I believes that you will generally deflect on most or all obligations".
 
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  • #212
DevilsAvocado said:
Oh! I’m terribly sorry! I should have know that this kind of very advanced implicit reasoning; [too most people she] "looks" and [to me] "she is clearly both incompetent and untrustworthy", is way over your current level.



Well, I just put there to make you happy – it matches your level of debating, perfect.



In the misty haze of people smoking tea, that would be the "tea truth", too everyone else reading this fruitful debate – it’s a joke, especially since you are running around in this forum telling everyone else to stop acting like a troll. :smile:


PS: M&I just called, they downgraded you to "D: has deflected on obligations and M&I believes that you will generally deflect on most or all obligations".

Considering this thread is about the S&P downgrade - I thought my request was timely. However, I couldn't help but notice the silence - no witty response to this question?

"If you want to debate her competence - let's do so in the Obama 2012 thread. We can compare her resume to the Presidents - along with their legislative records. Just for fun let's compare her resume to Nancy Pelosi - the 3rd most powerful person in DC for the first 2 years of the Obama Administration."

Why don't we measure then Senator Obama's competentce by the standards you've (apparently) set for Bachman - might be fun?
 
  • #213
M&I called again, now you’re downgraded to "NR: has lost all intellectual capital, cannot be taken seriously, is trying to pay his first bill with a second irrelevant bill, tea smokescreens all over, working hard to close everything down, a complete waste of time".
 
  • #214
Michele "http://www.youtube.com/watch?v=thR-lVuztIY"" Bachmann have herself benefited from government aid, i.e. "Gangster Aid":
http://www.latimes.com/news/nationworld/nation/la-na-bachmann-20110626,0,7475882,full.story

Bachmann's had her share of government aid - Los Angeles Times

But the Minnesota Republican and her family have benefited personally from government aid, an examination of her record and finances shows. A counseling clinic run by her husband has received nearly $30,000 from the state of Minnesota in the last five years, money that in part came from the federal government. A family farm in Wisconsin, in which the congresswoman is a partner, received nearly $260,000 in federal farm subsidies.
 
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  • #215
Ivan Seeking said:
... One thing has nothing to do with the other except that tea partiers think they are special somehow.

... Again, this is nothing but some kind of superiority complex in play.

I think it’s called the http://en.wikipedia.org/wiki/God_complex" .

Ivan Seeking said:
It was the tea party's own Michelle Bachman who said we should refuse to raise the debt ceiling - absolute lunacy by any measure! But there she is; a leading candidate.

At every turn, what I see is a movement bent on destroying the economy.

To me is clear that the main goal for the Tea Party and Michelle Bachman is to destroy President Obama, at any cost, including destroying the economy. They can’t beat him in the ordinary way, i.e. with political arguments and ideas, thus the only way is to create maximum mayhem in the Congress and the economy, and to redefine the word compromise – "We will only compromise if everybody does exactly what we say".

Once the dysfunctional democracy was a fact, and the President was tied behind his back by http://www.politico.com/news/stories/0811/60421.html" , and was just itching to pull the trigger, Michelle Bachman started the ridicules campaign – "President Obama has destroyed the credit rating of the United States through his failed economic policies":


https://www.youtube.com/watch?v=0IDAuvUXLVw

While we all know that Michele "http://www.latimes.com/news/nationworld/nation/la-na-bachmann-20110626,0,7475882,full.story" " Bachmann had the major part herself in the S&P downgrade.

John Chambers, Head of Sovereign Ratings, Standard & Poor's at Anderson Cooper 360:
[emphasis mine]

COOPER: Why did S&P downgrade the United States' credit rating today?

CHAMBERS: Well, I think there were two reasons.

The first reason is the one that you have outlined, being our view of the political settings in the United States have been altered. We have taken them down a notch, the rating down a notch. The political brinkmanship we saw over raising the debt ceiling was something that was really beyond our expectations, the U.S. government getting to the last day before they had cash management problems.
...

COOPER: So it's interesting. You're saying without a doubt, the recent debate, the recent roadblocks in Congress, the tenor, the timing, the tone of the debate had a major impact on this.

CHAMBERS: Yes.

I think that's what put things over the brink
.


https://www.youtube.com/watch?v=VjcGcAXFaoI​
 
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