credit, det impact as long as we keep purtching goods from other countrys and cutting the jobs here we are not gooing to get out of det this and any economy deponds on people who produce goods for export as well as for themself in this global economy the more we produce here and sale is the only way that this country is going to recover from this det and stop beeing consumers of goods from other countrys. bring the jobs back to the U.S.A (and I dont mean the Japines island of Kyuslu - town usa)
"The country is living in debt. It is not living within its means, shifting the weight of responsibility on other countries and in a way acting as a parasite,
@TheARMAProductions we can handle that. our muslims and our whites know how to take care of their own. hopefully someday soon the massive majority of our blacks who hate the looters, will rise up and put down the idiots who misrepresent them.
In the United States, ranking the government bond is AAA?. It is ridiculous. Is it a fool?S&P?What is done among companions. The United States government bond is already a wastepaper. Think it is welcome only because it buys it. Both incapacity.
UNIONIZATION OF CANADA AND USA WILL HAPPEN. EUROPE WILL EAT MY SHIT. CANADA AND USA WILL HAVE ONE CURRENCY NAD( NORTH AMERICAN DOLLAR) MEXICO IS NOT IN THE PICTURE. I RUN THE SHOW. I AM A BITCH AND EUROS WILL KISS MY NAD'S ASS. WATCH ME! CANADA AND USA WILL BECOME THE BIGGEST COUNTRY IN THE WORLD! THE REST OF THE WORLD WILL BEG JUST TO GET VISA , NOBODY WILL BE ALLOWED, NO CHINESE STUDENTS, NO RUSSIAN STUDENTS, ONLY RICH ARABS IF THEY WANT TO DO SURGERY, FROM NOW ON I RUN THE SHOW, I HAD ENOUGH
We the people are but merely pawns, more powerful sources, move this piece and that piece, even the leaders of the world are mere pieces in this game. You can not do nothing but accept the consequences, whether it may be to your pockets, health or other. The most powerful men in the world, the mightiest country in the world, the mightiest army in the world yet couldn't even stop this from affecting the whole world. Prudence, good values, compassion will prevail above all, lesson well overdue.
Obama has jumped up the debt way moe than any other president ever & in so little time. He has an agenda. He is a Soros puppet. He doesnt care about what happens to any of us. He wants the dollar to fall.
Obama has jumped up the debt way moe than any other president ever & in so little time. He has an agenda. He is a Soros puppet so we can fall and they can all get their New World Order. He doesnt care about what happens to any of us. He wants the dollar to fall.
Obama has jumped up the debt way moe than any other president ever & in so little time. He has an agenda & we all know what it is. He is a Soros puppet so we can fall and they can all get their New World Order. He doesnt care about what happens to any of us. He wants the dollar to fall.
Obama has jumped up the debt way moe than any other president ever and in so little time. He has an agenda and we all know what it is. He hates this country. and is just being a puppet for George Soros so we can fall and they can all get their One World Order. He doesnt care about what happens to any of us. He wants the dollar to fall.
@Oban2006 I love how Obama gets all the blame for the economy when most of the problems we have come from Bush2 admin. he increased spending exponentially and gave the riches people who have $ to give Tax cuts The US would get more $ if they taxed the top 5% of income with a 5% tax then they make now one people who get taxed the most why, should the government not take $ from people who can afford to give it and tax people who need every dollar to just live
@Oban2006 YOU MUST NOT HAVE BEEN WATCHING THE NEWS AND SEEN IT WASNT HIS FAULT FUCKTARD . it came from all the hissyfits from the tea party , its documented,tea party " we have signed promises that we will not raise taxes .... no matter what " AA credit is that no matter what , economical collapse is that what . why do you think obama had people coming in on holidays to push them to a decision . blame the right people before you start throwing hissyfits
@deserticus18 Nelson Muntz style Ha Ha indeed. The perfect reaction to any scenario which results in negative consequences or good old-fashioned bad news.
the way the US work=s never was going to last was it. Let's face it the US has wated billions on fighting wars that it has started. The country is full of people who have been deliberately not educated. Knowledge is dangerous.
You have yourselves to blame Americans. You all voted for Bush who was the one who got you into the mess in the first place.
It is SO WONDERFUL TO SEE USA SUFFERING. Just think how many pople this moronic country have murdered. I bet you anything they all turn religous because Gaaaad is going to help isn't he?..........
Stop your fucking whinning and go out and get a job. Wal Mart is hiring. So is KFc or McDonalds. Stop stealing from your children's future. I worked through college delivering pizza, working at Sears delivering appliances, landscaping, laying florring and a few other low paying jobs. I paid my way through college while so many other minorities got easy grants and scholarships. Most of them never graduated. So fuck all you whinny as bitches. Stop leeching of my taxes. there are roads to build.
@09geauxtigers bitch im leaching off of your tax money and theres not shit you can do about it . so when you wake up for your job tomorrow morning , remember youre out there getting that money for me , just like the little hoe you are . dont forget to set your clock for bright and early , you have a long day at work tomorrow while im taking care of my kid all day and making money FROM HOME WITH MY FAMILY
@MrPANDPKENNELS You are correct. There is nothing I can do about it, NOW. However, when all is lost you and your family will be starving. Your wife and daughters will be sucking dick for money in a ditch. Soon all you leeches will be drowning in your own piss and shit while folks like me will be surviving just fine. So go on and listen to your 50 Cent or Eminem. Enjoy hell while Obama, your messiah, vacations with his celebrity friends and basketball games.
@09geauxtigers okay well make my money for me okay . and when all is gone we wont panic , we have been in a recession since slavery . do you think we came out with food money and education , but whites did so all it can do is get worse for you guys , thats why this economy and recession isnt hurting us like it is you guys , welcome to our house when jobs arent hiring you , your getting laid off , and worrying about how youre gonna take care of your family .
@09geauxtigers and when the blacks and mexicans cant eat , we will see how fine whites are doing , all the crimes that happen in the hood and mexico will be at your doorsteps do you think your ready for that ?
I've been reading comments all over the web and it makes me sick. Everybody is blaming everbody else except themselves. The true culprits of this economic crisis is not politicians or economic advisors. Its the American peoples fault. They were the ones who continued to vote this people into office all these years. They are the ones who wanted easy money, easy credit, social programs, large military budgets, more and more sucking off the government tit. Americans ony have themselves to blame.
This is Congress fault period. no blame game bullsiht any more. You are put into office to save us from bankruptcry. Republicans and Democrats need to now truely come together and tell us that you are sorry for this mess. Yes that includes Obama and his Administration, the treasurey department, and even to the people who did not want compromise on the deal. Grow a pair, and confronts US the people like adults.
A big comet is on the way. His name is Elenin, thats the truth go to the nasa.gov website. All the problems about the financecrisis is just to win time for the BIG HIT!!
@th784 I try to encourage people to spread his best video's from You Tube around online especially social networks
One can also join Ron Paul meet up groups that will be on the streets educating the people that live and vote by the failing status quo.Google his meet up group in your area . Ron Paul will need a landslide to win with today's voting process and main news media selling these GOP puppets
Just increase taxes on the rich,that will raise revenues. Lower personal financial bills, cut taxes on the middle class,and lower classes.Cut uncessacary oil prices. Stop dopping bombs on Libya,the rebels are well supplied and are ready to overthrow Gaddafi. Get our troops out of the middle east. ALL OF THEM! Shut down our over 370,000 Milltary bases overseas and in forgien countries. Possibly then spending can be put under control and we get back our rating
@lazymail obama took on all the debt and made it worse. This is caused by two decades of wreckless spending, and not because the tea party is holding the republicans accountable to their campaign promises. Blaming it on the tea party is just blatant ignorance. When you elect a president that is from the extreme left, it is only natural to have an extreme right reaction...
socialistic and communistic policies have been made by both democrats and republicans for 100 years. and they are all proud of it. they all want to spend spend spend. whether its on welfare programs or wars. they want to spend, and to spend you need money, they raise the debt limit to get the money they need to spend. this is not the beginning of anything. it is the end.
haha Anderson Cooper you little Jew. Your Chinese masters just raised the interest on your credit card. Don't like it? Get a part-time job to pay off the debt you stupid Talmudic fucks.
Also bring ALL of our young troops back from the middle east. Stop spending millions of dollars dropping bombs on libya. Get out of middle east affairs,let them handle it. That would save trillions.
America holy shit do we have to hit you with a brick on the head! this boarders on mental retardation! The reason that your being downgraded is that the far right wing of the republican party is inncapable of doing half the equasion taxes get it the inability to raise revenues taxes!
@487shawn I'm trying to exactly get this message to the knuckleheads on this thread, but they are pretty adamant that if a tsunami occurred, that would be 100% on Obama's head as well.
@avnguyen123: No, you're trying to LIE. Or, you're simply too dense to grasp.
DIRECT quote from S&P:
"Standard & Poor’s takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.’s finances on a sustainable footing."
@avnguyen123 just forget it you will get too fustrated with this massive ignorance of whats going on , it simply that the world gives the usa money as they see the historic low levels of taxation and when they realized that the far right will never consider raising revenue levels with cuts as it takes a mixed bag there bailing on the us economy! all they have to do is look to Canada and what it did in the nineties! they are also down playing the real danger witch is the retirement disivestment
@487shawn: Where do you get your fk'd up stats from?
JFK lowered taxes -- revenue increased.
Reagan lowered taxes -- revenue increased.
Republican Congress under Clinton lowered taxes -- revenue increased; budget surplus.
Bush lowered taxes -- largest 4 year revenue increase in American history.
Proof from another level, Conservative states: strongest economies, lowest unemployment rates, lowest welfare rates per capita, most job creation .... all with the lowest taxes.
@2010GOP im not talking about the states i am trying to point american toward a country that went thru exactly and i mean exactly the same situation Canada, you had better get former prime minister paul martin down there to put your house in order or we are all doomed!
@487shawn: You skipped the positive effects of lower tax relating to revenue -- proven numerous times. As I said, from another angle, there's also proof within states. Same principle
The US became the most powerful & prosperous nation on the globe in a very short time, attained by Conservative/Constitutional principles -- not by mocking other nations' socialist policies. Fk'd up Liberal policies slowly eeking in thru the years destroying the country -- fk'd up policies fast-tracked the last 2
@2010GOP thats the very attitude that has caused rating agencies and s&p to lower you credit rating! you exemptify the very reason the WTO at some point may have to get involved!
@487shawn: Bull-fk'ing-shit. I posted direct statements from the S&P -- it's the level of DEBT.
"Standard & Poor’s takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.’s finances on a sustainable footing ....... we maintain our view that the U.S. net general government debt burden will likely continue to grow".
Translation: Liberal ideology that we need a Govt agency to control any & all things
@2010GOP s&p and other rating agenies around the world said that the political dissention and inablility to make cuts and consider revenues get it revenues (taxes) the republican party taken over by tea party member will not consider any taxes at any time, recipe for disaster!
@487shawn: You're either confused or making shit up as you go along. Moody's and S&P said too much focus & politicizing was on the "ceiling", which was insignificant, taking away from the real culprit -- the debt.
Again, lower tax rates under Bush increased revenue. Virtually every sane economist opposes increasing tax rates. Bush tax rates have been in place for nearly a decade ~ it's obviously the insane spending, stupid!
Reuters: "S&P believes the outstanding debt of $14.3 trillion and projected deficits for coming years in the United States no longer warrant the top-tier rating"
Bush tax rates were in place 4 years prior to Democrats taking full control of Congress, 4 years and $6 trillion ago
Democrats - 4 years - $6T - more than all debt accumulated from George Washington thru Bill Clinton. But it's not the cause or anything ... it's from tax rates put in place nearly a decade ago. LOL
@487shawn You say the tea party "took over the republican party" That's just false. If that were true Michelle Bachman would be speaker. The tea party represent a minority of the congressional republicans. But they are a vocal minority who's message is clear, "Spend less, Tax less, Grow the economy." But who took over the Democratic party? The Socialists did. And what is there message: Just ask your leader and he'll tell you: Higher taxes, spending and redistribution.
@kbar8888 I am Canadian and really don't care who's in power, but the fact remains that the republican party has move so far to the right they have become fasist, The democrates have to realize that there will have to be cuts and the republican will have to realize there will be taxes. I have been trying to point out that Canada went thru exactly the same sitituation in the nineties and show how to pull your ass out of this sitituation!
@487shawn Well, to correct one thing said, Fascist are not right wing. Hitler described the Fascists as Right to separate them from the Bolshivicks because except for who they wanted in charge there was little difference between the Nazis and the Communists. As for tax increases, how does removing money from people and giving it to govt grow the economy? If you could double what taxpayers are paying, the budget would still be $ 1/2 T short. Spending is the real problem.
@kbar8888 neither is the tea party right wing, try to put there extreme christian agenda along with thier poorly disguised racism. so yes they fit fascist more than conservative, i actually can respect conservative's like ron paul who have integrety i may disagree with his economic policies but i respect the man, i have no respect for michelle bachmann!
@kbar8888 also this is now a modern global economy, that principle of leaving money in the hand of the few to invest in your domestic economy no longer applies, Prime Minister Paul Martin understood this and did revenue increase so he could do targeted spending, he also did a 18% cuts its a mixed bag!
@487shawn Just increase taxes on the rich,that will raise revenues. Lower personal financial bills, cut taxes on the middle class,and lower classes.Cut uncessacary oil prices. Stop dopping bombs on Libya,the rebels are well supplied and are ready to overthrow Gaddafi. Get our troops out of the middle east. ALL OF THEM! Shut down our over 370,000 Milltary bases overseas and in forgien countries. Possibly then spending can be put under control and we get back our rating
@487shawn If the demorcratic party (My party)Could do everything i just said.And if a bill like that even PASSES the house.. Maybe it will go through in the demorcratic senate,and if it gets to obama's desk he will sign it.And then it becomes law.But us demorcrats have been trying to increase taxes every sense bush got in and messed up the economy and lowered taxes on the rich.
@MrKingjohnrocks This is why credit agencies around the world and at your home have downgraded your credit rateing You have to have both cuts and taxes and to say you will never increase taxes you put a nail in your coffin!
@MrKingjohnrocks to raise revenues is important to do targeted spending so you soften the blow to your population ie road bridges etc. not to have them is insanity at this time. but there has to be spending cuts as well your solution would go a long way!
@487shawn Yes i agree.But also if Jesse ventura became president..He would try to break this government into a independant one. Republicans say bill clintion was horrible.When he was more better then bush! His politces and his raising taxes on the rich led to 8 years of economic growth.And bush and his policies... ugh it makes me sick. He made the rich richer..The unemployment rate was greatly big.. Poverty was increasing. it took 8 years to mess it up.it will take 8 years to fix it.
@MrKingjohnrocks I don't know why it's so hard to understand you need a strong middle class in a modern society and to constantly squeese them your fucking up your consumer base and that to leave trillions to the top earners to mostly be invested oversea's leaves your economy weak!
@MrKingjohnrocks also get your military spending under control and stop trying to be the policeman to the world make other countries step up and help!
@487shawn In my other solution i pointed out that we need to shut down thousands of bases around the world.Get NATO out of libya. Get our troops out of the middle east ,and let middle eastren armies deal with it.
@MrKingjohnrocks the orginal intent of the un which is a mess was to gather all the stable countries to help and control the world set up a un military force paid equally by everone to respond to crisises around the world and put your engeries in makeing the un work!
@487shawn Surely you know that no one is suggesting a real cut, like spending less next year. When they say cut, they mean instead of spending $4.5T in the next year, to spend $4.475T. Hardly a cut when you look at how much they increase. Obama increased govt spending by 38% his first year. But I don't hate Obama. Hate is liberal thing. I feel sorry for him. He never even had a paper route. His whole life is based on govt money. He doesn't have a clue what he's doing.
@2010GOP That was in a world long gone this is a global economy and lower tax rate alone don't work because the money is invested elsewhere! the only country to rebound realitively quickly in the mondern economies of the world is Canada! open you mind stop being overcome by fear!
@2010GOP It many come to the WTO putting an overseer on your economy i hope for your sake it paul martin, you are unable to even for a second realize that its a blended economy in the states like everywhere else and it requires both taxes and cuts!
@2010GOP Yes of course your right. But all this proves is that JFK, Reagan, Clinton, and Bush hated "little brown children." Lowering taxes is racist. Making money is racist. Opposing Obamacare is racist. Purchasing an SUV is racist. Eliminating regulations is racist. Being a banker is racist. Being pro-life is racist. Believing in American Exceptionalism is racist. Voting Republican is racist. And posting about it on the internet is racist.
@CaptainSpauIding Some info 4 U. When the Bush tax cuts were implemented in 2003, unemployment was at 5.8%. During the next 4 years it dropped to 4.5% and 7 to 8 million new jobs were created. The budget deficit went from $554B in '03 to $500B in '07. Then Reid/Pelosi took over, and the Mark-to-Market rule was enacted. Thanks to years of Fannie/Freddie in May of 08 banks lost $500B over night. Then Obama's $1T stimulus. Now deficit for 2011 will be $1T w/ unemployment at 9.4%. I love numbers.
@kbar8888 Bush did warn the House about Freddie Mac and Fannie mae to deaf ears. Barney Frank is an incompetent guy who could not hold a job in the private sector. How does that clod keep gettin re elected ? He's an idiot !
@CaptainSpauIding Look at Merrill Lynch in July of 2008. When the mark to market rule went into effect no one had traded mortgage backed securities. So their value was still what it was before the rule. Then in July Merrill sold $30.6B at $0.22 on the dollar. Instantly, due to the rule, every bank had to write down the value of their mortgage backed securities by 78%. It cost the big banks $500B instantly. They were not prepared and it was "Katy bar the door!" All thanks to Dodd and Franks.
@kbar8888 in a private sector job not only would they be fired, but either 1) go to prison or 2) their careers would be over no matter where they went.
Then of course, there was that child porn scandal with Barney Frank. But, because of who he is, he came out unscratched.
@kbar8888 Bush left unemployment at over 8% where the hell you getting your information from. You're another example of republicans making up lies and trying to use them as fact. You full of shit.
@haitianman117 I'm sorry you can't do math. I'm talking about from the mid-term election in nov of 2002 thru the midterm election of nov 2006. That's congressional years 2003 thru 2006 (4 years). Pelosi became Speaker, and Reid became Senate Leader in Jan '07. The Unemployment rate for Jan of '07 was 4.5%. Sorry I forgot to use my crayons but I wasn't expecting a liberal to challenge me without reading "THEN REID/PELOSI TOOK OVER" and not understand when that was. Any more accusations?
@kbar8888 its real funny how you republicans can pick when you want to take credit for something, right now unemployment is over 9% and its the presidents fault but when bush was in office it was congress' fault that unemployment was hight as it was. So right now that the right has the hosue whose fault is it that they haven't proposed anything to create jobs? Whose fault is it that they caused the credit rating to go down?
@haitianman117 Oh, so now you understand the period of time? But your still confused. Beginning in '07 with the new democratic congress (aptly named as the opposite of progress) the troubles for the country began. A anti-business agenda was proposed by Pelosi/Reid which stalled the economic recovery began in '03. Since a budget is key to predicting debt to income ratios and the House has passed its budget, I'd say Democrats failure to pass a budget in 800+ days is to blame for the downgrade.
@kbar8888 you try to talk a good game but that's a bunch of nonsense. You want to keep blaming the old congress and the president for everything, but this congress has done nothing except block and block and then blame others. They sit around on vacation bitching and moaning about the president isn't doing anything then he comes out and agree too what they ask for and they just block him for giving them what they want. By the way S&P gave their reason for the down grade (REPUBLICANS FAULT.)
@haitianman117 Wrong again. S&P noted 6 reasons, all related to debt/income ratios. Key to this is a budget. House Republicans passed a budget, Senate Democrats havent. Why? Well it was widely reported that in '09 Dems didn't want to hang $1T defict on the people and then run for reelection in '10. Who is playing politics with our economy? If you don't understand the importants of a budget, go ask your parents. Or start a business and go to a bank for a loan without one. This is Obama's mess.
@kbar8888 S&Pspecifically said it was because republicans wanting to default and not raise the debt ceiling was the reason for the down grade. Deficit reduction had nothing to do with the debt ceiling but republicans had to create a mess of it and now here they are agin. They tried to block the raising of the debt ceiling and now they're blaming others for the down grade. Block, blame and dont propose any solutions for anything. The american people are watching and they see what is taking place.
@haitianman117 Neither the report nor any person from S&P have said "Republicans are to blame". Rather they repeatedly state the inability to reduce spending by at least $4T over 10 years. But if someone is to blame, how about Obama. He had a filibusterproof congress in '09 and the ability to raise the debt ceiling "cleanly". But Harry Reid say they would wait till Republicans who won the house in '10 came in so they could "share the blame" for more debt. Now that is playing political games.
@kbar8888 S&P said the downgrade was because the threat to purposly default and that was republicans that made that threat. 09 republicans filibustered everything so how could you say their was a filibusterproof congress, 5 had republicans to help pass health care reform. Republicans are trying to to hold the country hostage just so they can keep pushing their own ideological agendas. Now is not the time to be cutting programs that the middle class and poor depend on.
@haitianman117 Read the 8 page report. S&P listed 6 reasons. They didn't mention Republicans holding anyone hostage. Obama had a filibuster proof congress in prior to nov 2010. Look it up. He got a couple of Rinos to vote for Obamacare so he could claim it had "bi-partisan" support. Harry Reid specifically said they wouldn't pass a budget prior to the 2010 election so they wouldn't have to defend it at the polls, and the same for the Debt Ceiling. The middle class need a job, not a handout.
@kbar8888 ok then with that said then why hasn't their been 1 bill for jobs proposed by the right? The president has made plenty sugestion to create jobs and the right continue to block everything. High speed rail, fix the roads and bridges even fixing schools all these things republicans want to just block them but have time to make up bills against womens rights not 1 sugestion for jobs.
@kbar8888 Their is no point going back and forth with u on this, anything this president does you republicans are going to be against it even when he agrees to republican terms and give them what they want its a problem even when hegoes with plans made by republicans its still not good enough. Republicans from day 1 made it clear their number one agenda is not jobs, not the economy, nothing else but making Obama a one term president just sit back do nothing block everything.
@haitianman117 Of course there is no point in "going back and forth." You see the same numbers I do. You say Republican's oppose Obama's agenda, of course we do. The question is, why don't you? Why don't you oppose policies that have produced 9.4% unemployment, $1.5T in deficits, govt takeover of GM/Chysler, govt takeover of healthcare, govt blocking Boeing from employing workers in SC, govt blocking oil production, govt intimidation of small banks into giving loans, etc., etc.?
@avnguyen123 cont of america, this is the true danger! Almost all retirment fund only allow investment in triple a rated bonds treasuries etc if one more ratings agency drops the us rating they wil have to pull thier investments out! that means towns cities states will have to find finding elsewhere which in this economy and the massive amounts that would be needed bankruptcy for the usa, your only a hairs breath from this! if they had brought in a balanced apporoch it would have been different
@Scallopshell98: When you read "crack-whore", it appears you automatically assumed I was referring to minorities. Thanks for proving that it's you who is the racist while pointing the finger at others. Liberals are notorious for shit like that
@TheSMFTRADER its possible but not likely due to the massive political and economic fallout that if the one of the other two rating agencies in the states could do this on Monday!
cont but with spending cut and taxes is the only way canada pull out a balance approach, however we did everything we could to keep our social progams so we did'nt throw granny under the bus, all you have to do is look at Canada during the time of Brian Malroney to see what going to happen next! and to fix it look at what Paul Martin had to do! its simple balanced!!!!
I have been trying since june to tell this to american and have been constanly attacted by republicans, now my inbox if full of americans asking how i knew this was going to happen, its not rock sience you just have to look a Canada under Brian Malroney(lyin brian) who was a personal friend of ronald regan and adopted wholeheartly reganomics and brought in one historic debt after another bankrupting Canada Paul Martin who replaced him raised corporate taxes 4 times and its was painful!
And now for the really bad news which is being downplayed, the middle class who have embraced for the most part the republican party who has the majority of its investments in retirement funds who require a triple a rateing by there law to invest in government bonds will have to disinvest from your town cities states that means that they would have to find funding elsewhere which is impossible thus bankrupt, you are a hairs breath from this happening! now give your republican rep a big wet kiss!
Terroist around the world give the republicans a big wet kiss! and no it is not amature hour the rest of the world knew this was comming and some had already downgraded you! and before a dumb ass republican pull some fiqures out of his ass and twist it to suit his agenda the fact is your tax rates are the lowest in generations To put it in SImple term the World does not believe that the republicans can raise revenues ever! the World knows in order to get a balance you need and must have taxes!
@Scallopshell98: Embarrassingly stupid. Democrats controlled both Houses of Congress beginning Jan 2007, still control the Senate, and Obama is in his 3rd year.
The main cause of the economic meltdown was the Liberal "social justice" initiative in the housing sector beginning most prominently at the end of Clinton's term -- Republicans were called "racist" & not caring for the "poor" for opposing
Behind the insane level of spending were Democrats, beginning 2007, full-throttle when Obama got in -- Republicans were called the "party of no", hurting growth, etc
Obama had a majority in both Houses the first 2 yrs
@2010GOP You're extremely ignorant. For someone who keeps on defending that all we need to do is cut funding to social programs (but not Defense...lets keep that money to build airplanes with lasers and teleportion devices to help us in the deserts of Afghanistan so the US is safe). Give me a break. We essentially presented to S&P the Bonemenice&hardintheazzher's Plan. And look what that got us.
@Xavieric311: WTF are you talking about? When did I state to cut social programs but not defense?
Republicans' initial plan cut defense spending in which I supported. It also revamped many 'social programs', identifying waste & fraud, etc.
Social programs account for nearly 60% of the total Federal budget -- our entire Nat'l Defense is 23%. For some reason, I feel safer funding the best defense system possible vs. ensuring that a crack-whore can stay home & make more babies
@2010GOP "President G.W. Bush sets goal of increasing minority home owners by at least 5.5 million by 2010 through billions of dollars in tax credits, subsidies and a Fannie Mae commitment of $440 billion to establish NeighborWorks America with faith based organizations."
Again, Bush's initiative centered around "education" for "qualified" homebuyers for "responsible" homebuying -- a loan program w/strict underwriting guidelines relating to DTI & credit; 30 yr fixed fully amortized. Funding was reallocated Sec 8 housing funds. No mandated quotas
Liberals wanted quotas met regardless of credit/qualifying standards, exotic programs, teaser rates to generate fake DTIs -- and threatened action by the Atty Gen to enforce
WITH THE USA CREDIT DOWNGRADED FROM (AAA) TO (AA+) DOES THAT MEAN WE ARE THIRD WORLD COUNTRY OR WHAT? IF SO, THE BRITISH MIGHT AS WELL TAKE US BACK AGAIN.
This what happens to people borrowing huge while considering tax a swear word. States that borrow huge and have no serious tax revenue are failure from the very start.
Take a look at the economic conditions of high-tax states compared to low-tax.
After Bush tax cuts, 2003-2007, 8 million jobs were created, average income increased significantly, and revenue increased $785 billion -- the largest 4 year revenue increase in American history.
What happened when Reagan lowered taxes? When the Republican Congress under Clinton lowered taxes? When JFK lowered taxes?
@2010GOP BS? Of course, but hey I am just a weird European "socialist" What do I know about the necessity of taxes? LOL
But let me tell you a thing or 2.
1) the high tax states in Europe with most "socialist" economies are the strongest economies in the world. These even provide the finances to bail out failures like Greece. Now Greece is like YOU. It borrowed huge and never properly collected taxes. And now its gone. Greece is scaringly similar to the US.
2) As a matter of fact, ALL Euro states with issues are very much like you. Ireland is a tax haven compared to the rest. E.g. Ireland and Spain (not exactly known for their "socialism") have a banking and real estate crisis. Familiar? Spain too has a banking and real estate crisis. All due to borrowing, living on credits that cannot be repayed. Ireland is a tax haven towards companies. The typical US approach and what is it now: a state without a nickle to spare.
@2010GOP As for Bush tax cuts, you can see the results .... now. But dont let that distract you from the idea that taxes might actually be a good idea. LOL
@Efteling4Ever: As I stated, the increased revenue from Bush tax cuts occurred 2003-2007. Congress controls the spending/budget. Which party took full control of Congress in 2007 & put forward the largest spending bill in history, among other massive spending measures?
Free markets & less government is precisely how the U.S. became the most powerful & prosperous nation on the planet in a very short time. It wasn't by mocking other nations' socialist policies.
@2010GOP "Free markets & less government is precisely how the U.S. became the most powerful & prosperous nation on the planet "
Naaah. It is because there must be "space". That is the "environment" must be able to sustain the number of people around. Your system worked because in the 19th century there was more growth than people to feed. And because one could simple start over "somewhere miles away in Indian territory". It is because FEW people started to use the many mineral resources
@2010GOP Thius is basically what Europe did back then. Colonies to get resources for free. Enough "space" to sustain your numbers. Your low tax system alraedy turned sour in the early 20th cent. The only thing that saved your economy was WWII after which again there were huge markets and growth because everything had to be rebuilt in Europe and because growth in Europe was larger that the number of mounts to feed.
Growth is small. It cannot keep up with the number of poor and unemployed and the increasing struggling middle class you have. And this time there is no miracle.There is no war resulting in new markets. There is no territory to go to get some free mineral resources. It is just your state, its expenses and its tax revenue.
And with your low tax revenue ......well, good luck :-)
@Efteling4Ever: What you fail to understand is conservative low-tax policies actually create more revenue by promoting economic growth. The debate is the means in how revenue is obtained.
Corporations are relocating to conservative low-tax business-friendly states, thereby increasing employment, which then increases housing, which then increases demand in goods, which then increases demand/profits in other markets, which then increases employment further, etc --- the result is higher revenue
@Efteling4Ever: The main culprit in our economic collapse was housing, 2-fold.
Democrats forcing the creation of risky mortgages -- aka "Liberal social justice".
Democrats protecting their GSE buddies' erroneous accounting practices --- another example of what happens when government is too involved in the private market creating corruption & destruction
@2010GOP Lets do some basic math shall we. S&P: "The downgrade reflects our opinion that the fiscal control plan that Congress & the Administration agreed to falls short of, in our view, would be necessary to stabalize govern medium-term debt dyanmics" + Boneme&theUSintheAzzher: "..we got 98% of what we wanted in debt consolidation plan" = GOP has f'ed America once again!
@Xavieric311: The GOP is only 1/2 of 1/3 of government. Most Republican/Conservatives would have preferred to take an axe to the spending. Of course, that would have never flown with the 2/3 who currently control -- yet you point fingers at the GOP -- the very party who warned of the insane spending the last 2 years.
And which party has refused to so much as propose a budget in 820+ days??
@avnguyen123 Oh and BTW genius. Congress does NOT equal the "GOP". The House is majority GOP. The Senate is majority DEMCORAT. Head your dumbass back to school so you don't have to remove comments in the future after making a fool of yourself.
The Head of S&P Clearly states that their reason for the downgrade was because the GOP was using the default as a political tactic and a bargaining chip.:
John Chambers of S&P: Asked who was to blame, Chambers said, “This is a problem that’s been a long time in the making—well over this administration, the prior administration.”
Congress should shoulder some of the blame, he said. “The first thing it could have done is to have raised the debt ceiling in a timely manner..."
July 18, 2011: "Moody's Suggests U.S. Eliminate Debt Ceiling --- S&P says U.S. Could Default Even if Debt Ceiling is Raised"
Wasn't the "ceiling"; most countries don't have one; it's the level of debt
S&P: "We may lower the long-term rating on the U.S. if we conclude that Congress and the Administration have not achieved a credible solution to the rising U.S. government debt burden -- the U.S. fiscal stance has become entangled with the debate over the ceiling"
what happens when everyone has been downgraded?
Darusdei 1 month ago
you are the most indebted country in the world. 2.4 trillion dollars
scarvasa 3 months ago
death to islam
SuperObamabush 6 months ago
credit, det impact as long as we keep purtching goods from other countrys and cutting the jobs here we are not gooing to get out of det this and any economy deponds on people who produce goods for export as well as for themself in this global economy the more we produce here and sale is the only way that this country is going to recover from this det and stop beeing consumers of goods from other countrys. bring the jobs back to the U.S.A (and I dont mean the Japines island of Kyuslu - town usa)
1969626 6 months ago
i plan to start my own credit rating agnecy :D
OfficialTedWilliams 6 months ago
You sure don't hear Obama ranting "I inheritied this AAA credit rating" do you ?
CaptainSpauIding 6 months ago
"The country is living in debt. It is not living within its means, shifting the weight of responsibility on other countries and in a way acting as a parasite,
"สหรัฐฯใช้ชีวิตอยู่กับหนี้ แต่ไม่ได้อยู่แบบเป็นหนี้ เพราะผลักภาระความรับผิดชอบให้แก่ประเทศอื่นๆในโลกแบบเดียวกับกาฝาก ที่เกาะติดอยู่กับต้นไม้จนต้นไม้นั้นตาย"
“美國正生活在債務中。但是它並非靠自己生存，而是將責任和負擔轉移到其他國家頭上，這種行為就像‘寄生蟲’。
วลาดีเมีย ปูติน
普京俄國總理
Vladimir Putin
artyui11 6 months ago
@TheARMAProductions we can handle that. our muslims and our whites know how to take care of their own. hopefully someday soon the massive majority of our blacks who hate the looters, will rise up and put down the idiots who misrepresent them.
TheRicodark 6 months ago
In the United States, ranking the government bond is AAA?. It is ridiculous. Is it a fool?S&P?What is done among companions. The United States government bond is already a wastepaper. Think it is welcome only because it buys it. Both incapacity.
biyorkman 6 months ago
lol.
france is about to lose theirs too
TheRicodark 6 months ago
Well, it seems like the Republicans got the tax cut for the rich that they all wanted.
Shareholders now owe less in capital gains tax.
carmen510 6 months ago
hey check out my channel for a detailed explanation of the S and P downgrade
thebruceburkshow 6 months ago
UNIONIZATION OF CANADA AND USA WILL HAPPEN. EUROPE WILL EAT MY SHIT. CANADA AND USA WILL HAVE ONE CURRENCY NAD( NORTH AMERICAN DOLLAR) MEXICO IS NOT IN THE PICTURE. I RUN THE SHOW. I AM A BITCH AND EUROS WILL KISS MY NAD'S ASS. WATCH ME! CANADA AND USA WILL BECOME THE BIGGEST COUNTRY IN THE WORLD! THE REST OF THE WORLD WILL BEG JUST TO GET VISA , NOBODY WILL BE ALLOWED, NO CHINESE STUDENTS, NO RUSSIAN STUDENTS, ONLY RICH ARABS IF THEY WANT TO DO SURGERY, FROM NOW ON I RUN THE SHOW, I HAD ENOUGH
democratsaresmart 6 months ago
We the people are but merely pawns, more powerful sources, move this piece and that piece, even the leaders of the world are mere pieces in this game. You can not do nothing but accept the consequences, whether it may be to your pockets, health or other. The most powerful men in the world, the mightiest country in the world, the mightiest army in the world yet couldn't even stop this from affecting the whole world. Prudence, good values, compassion will prevail above all, lesson well overdue.
viewsonicplastic2222 6 months ago
Obama is a Soros puppet. He wants us to fail. He has spent us into oblivion past Bush2.
robinleigh131 6 months ago
Obama has jumped up the debt way moe than any other president ever & in so little time. He has an agenda. He is a Soros puppet. He doesnt care about what happens to any of us. He wants the dollar to fall.
robinleigh131 6 months ago
Obama has jumped up the debt way moe than any other president ever & in so little time. He has an agenda. He is a Soros puppet so we can fall and they can all get their New World Order. He doesnt care about what happens to any of us. He wants the dollar to fall.
robinleigh131 6 months ago
Obama has jumped up the debt way moe than any other president ever & in so little time. He has an agenda & we all know what it is. He is a Soros puppet so we can fall and they can all get their New World Order. He doesnt care about what happens to any of us. He wants the dollar to fall.
robinleigh131 6 months ago
Obama has jumped up the debt way moe than any other president ever and in so little time. He has an agenda and we all know what it is. He hates this country. and is just being a puppet for George Soros so we can fall and they can all get their One World Order. He doesnt care about what happens to any of us. He wants the dollar to fall.
robinleigh131 6 months ago
thx Obama you fucktard
Oban2006 6 months ago
@Oban2006 I love how Obama gets all the blame for the economy when most of the problems we have come from Bush2 admin. he increased spending exponentially and gave the riches people who have $ to give Tax cuts The US would get more $ if they taxed the top 5% of income with a 5% tax then they make now one people who get taxed the most why, should the government not take $ from people who can afford to give it and tax people who need every dollar to just live
jkress2232 6 months ago
@Oban2006 YOU MUST NOT HAVE BEEN WATCHING THE NEWS AND SEEN IT WASNT HIS FAULT FUCKTARD . it came from all the hissyfits from the tea party , its documented,tea party " we have signed promises that we will not raise taxes .... no matter what " AA credit is that no matter what , economical collapse is that what . why do you think obama had people coming in on holidays to push them to a decision . blame the right people before you start throwing hissyfits
MrPANDPKENNELS 6 months ago
in the immortal words of the bard nelson Muntz: HA! HA!
deserticus18 6 months ago
@deserticus18 Nelson Muntz style Ha Ha indeed. The perfect reaction to any scenario which results in negative consequences or good old-fashioned bad news.
Standuble 6 months ago
the way the US work=s never was going to last was it. Let's face it the US has wated billions on fighting wars that it has started. The country is full of people who have been deliberately not educated. Knowledge is dangerous.
You have yourselves to blame Americans. You all voted for Bush who was the one who got you into the mess in the first place.
Goodbye US!
TheIsraelcrimes 7 months ago
@TheIsraelcrimes so true and so sad
robinleigh131 6 months ago
@TheIsraelcrimes so true and so sad
robinleigh131 6 months ago
@TheIsraelcrimes so true and so sad
robinleigh131 6 months ago
America is not downgraded...!
It is collapsing before our own eyes.
Piece by piece, one bit at the time....
CNN = House of Prostitution...!
Shepetunka 7 months ago 2
It is SO WONDERFUL TO SEE USA SUFFERING. Just think how many pople this moronic country have murdered. I bet you anything they all turn religous because Gaaaad is going to help isn't he?..........
TheIsraelcrimes 7 months ago
They should let the U.S keep its AAA credit rating, only Obama will have to get a co signer for future loans,
federalwarhawk 7 months ago
Republicans = racist slimeballs who would like us to believe history began in 2009 (convenient whitewashing of W)
sutircomed 7 months ago
Tea Party = AstroTurf (Koch/Murdoch corporate takeover & destruction of Middle Class)
sutircomed 7 months ago
What happens when you elect a nigger who has never run anything in his life ?
hanksnow82 7 months ago
This is what happens when you elect a idiot in the White House......
gopconservative78 7 months ago
Tea Party downgrade
sutircomed 7 months ago
@sutircomed If they had of done what the Tea Party had wanted there would have been no downgrade is what S&P said .
hanksnow82 7 months ago
Stop your fucking whinning and go out and get a job. Wal Mart is hiring. So is KFc or McDonalds. Stop stealing from your children's future. I worked through college delivering pizza, working at Sears delivering appliances, landscaping, laying florring and a few other low paying jobs. I paid my way through college while so many other minorities got easy grants and scholarships. Most of them never graduated. So fuck all you whinny as bitches. Stop leeching of my taxes. there are roads to build.
09geauxtigers 7 months ago
@09geauxtigers bitch im leaching off of your tax money and theres not shit you can do about it . so when you wake up for your job tomorrow morning , remember youre out there getting that money for me , just like the little hoe you are . dont forget to set your clock for bright and early , you have a long day at work tomorrow while im taking care of my kid all day and making money FROM HOME WITH MY FAMILY
MrPANDPKENNELS 6 months ago
@MrPANDPKENNELS You are correct. There is nothing I can do about it, NOW. However, when all is lost you and your family will be starving. Your wife and daughters will be sucking dick for money in a ditch. Soon all you leeches will be drowning in your own piss and shit while folks like me will be surviving just fine. So go on and listen to your 50 Cent or Eminem. Enjoy hell while Obama, your messiah, vacations with his celebrity friends and basketball games.
09geauxtigers 6 months ago
@09geauxtigers okay well make my money for me okay . and when all is gone we wont panic , we have been in a recession since slavery . do you think we came out with food money and education , but whites did so all it can do is get worse for you guys , thats why this economy and recession isnt hurting us like it is you guys , welcome to our house when jobs arent hiring you , your getting laid off , and worrying about how youre gonna take care of your family .
MrPANDPKENNELS 6 months ago
@09geauxtigers and when the blacks and mexicans cant eat , we will see how fine whites are doing , all the crimes that happen in the hood and mexico will be at your doorsteps do you think your ready for that ?
MrPANDPKENNELS 6 months ago
I've been reading comments all over the web and it makes me sick. Everybody is blaming everbody else except themselves. The true culprits of this economic crisis is not politicians or economic advisors. Its the American peoples fault. They were the ones who continued to vote this people into office all these years. They are the ones who wanted easy money, easy credit, social programs, large military budgets, more and more sucking off the government tit. Americans ony have themselves to blame.
09geauxtigers 7 months ago
This is Congress fault period. no blame game bullsiht any more. You are put into office to save us from bankruptcry. Republicans and Democrats need to now truely come together and tell us that you are sorry for this mess. Yes that includes Obama and his Administration, the treasurey department, and even to the people who did not want compromise on the deal. Grow a pair, and confronts US the people like adults.
mitchman414 7 months ago
Australian and New Zealand stock markets drop 2 per cent in the first ten minutes, the rest is expected to follow suit, gold up
viewsonicplastic2222 7 months ago
THEY GOT THE POOR BIT. RIGHT.
chadberry75 7 months ago
Wake up USA!
A big comet is on the way. His name is Elenin, thats the truth go to the nasa.gov website. All the problems about the financecrisis is just to win time for the BIG HIT!!
USA people you have to survive!!
th784 7 months ago
@th784
Comet C/2010 X1 ("Elenin") will not impact or close-approach planet Earth.
Go propagandize your apocalyptic, doomsday nonsense elsewhere.
HeroOfChristArchives 7 months ago 3
@th784 bullshit--u must be a muslim
SuperObamabush 6 months ago
@th784 I try to encourage people to spread his best video's from You Tube around online especially social networks
One can also join Ron Paul meet up groups that will be on the streets educating the people that live and vote by the failing status quo.Google his meet up group in your area . Ron Paul will need a landslide to win with today's voting process and main news media selling these GOP puppets
2020starman 6 months ago
Just increase taxes on the rich,that will raise revenues. Lower personal financial bills, cut taxes on the middle class,and lower classes.Cut uncessacary oil prices. Stop dopping bombs on Libya,the rebels are well supplied and are ready to overthrow Gaddafi. Get our troops out of the middle east. ALL OF THEM! Shut down our over 370,000 Milltary bases overseas and in forgien countries. Possibly then spending can be put under control and we get back our rating
MrKingjohnrocks 7 months ago
Is this the "change we can believe in"?
r8rfanizme 7 months ago
Thank you Obama for doubling our debt and fucking up our credit rating.
RadarGuidedVermin 7 months ago
We used to be the greatest country on Earth before Obama turned us into a third world failed state.
AmerikanPatriot 7 months ago
@AmerikanPatriot hahaha, greatest country on earth? keep dreaming buddy. :)
Jenovate 7 months ago
@AmerikanPatriot obama took on all the debt, your previous retarded leader put you in this state.
lazymail 6 months ago
@lazymail obama took on all the debt and made it worse. This is caused by two decades of wreckless spending, and not because the tea party is holding the republicans accountable to their campaign promises. Blaming it on the tea party is just blatant ignorance. When you elect a president that is from the extreme left, it is only natural to have an extreme right reaction...
kahnk009 6 months ago
@kahnk009 he also constituted over 2 trillion more.
Nathan21122012 6 months ago
America with a BBB rating would be hilarious
1988scottcarey 7 months ago
socialistic and communistic policies have been made by both democrats and republicans for 100 years. and they are all proud of it. they all want to spend spend spend. whether its on welfare programs or wars. they want to spend, and to spend you need money, they raise the debt limit to get the money they need to spend. this is not the beginning of anything. it is the end.
birdliz 7 months ago
haha Anderson Cooper you little Jew. Your Chinese masters just raised the interest on your credit card. Don't like it? Get a part-time job to pay off the debt you stupid Talmudic fucks.
TheJewRegulator 7 months ago
Also bring ALL of our young troops back from the middle east. Stop spending millions of dollars dropping bombs on libya. Get out of middle east affairs,let them handle it. That would save trillions.
MrKingjohnrocks 7 months ago
@MrKingjohnrocks: Now THAT I agree with. Why are we still in countries like Germany????
2010GOP 7 months ago
America holy shit do we have to hit you with a brick on the head! this boarders on mental retardation! The reason that your being downgraded is that the far right wing of the republican party is inncapable of doing half the equasion taxes get it the inability to raise revenues taxes!
487shawn 7 months ago
@487shawn I'm trying to exactly get this message to the knuckleheads on this thread, but they are pretty adamant that if a tsunami occurred, that would be 100% on Obama's head as well.
avnguyen123 7 months ago
@avnguyen123: No, you're trying to LIE. Or, you're simply too dense to grasp.
DIRECT quote from S&P:
"Standard & Poor’s takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.’s finances on a sustainable footing."
2010GOP 7 months ago
@avnguyen123 just forget it you will get too fustrated with this massive ignorance of whats going on , it simply that the world gives the usa money as they see the historic low levels of taxation and when they realized that the far right will never consider raising revenue levels with cuts as it takes a mixed bag there bailing on the us economy! all they have to do is look to Canada and what it did in the nineties! they are also down playing the real danger witch is the retirement disivestment
487shawn 7 months ago
@487shawn: Where do you get your fk'd up stats from?
JFK lowered taxes -- revenue increased.
Reagan lowered taxes -- revenue increased.
Republican Congress under Clinton lowered taxes -- revenue increased; budget surplus.
Bush lowered taxes -- largest 4 year revenue increase in American history.
Proof from another level, Conservative states: strongest economies, lowest unemployment rates, lowest welfare rates per capita, most job creation .... all with the lowest taxes.
2010GOP 7 months ago
@2010GOP im not talking about the states i am trying to point american toward a country that went thru exactly and i mean exactly the same situation Canada, you had better get former prime minister paul martin down there to put your house in order or we are all doomed!
487shawn 7 months ago
@487shawn: You skipped the positive effects of lower tax relating to revenue -- proven numerous times. As I said, from another angle, there's also proof within states. Same principle
The US became the most powerful & prosperous nation on the globe in a very short time, attained by Conservative/Constitutional principles -- not by mocking other nations' socialist policies. Fk'd up Liberal policies slowly eeking in thru the years destroying the country -- fk'd up policies fast-tracked the last 2
2010GOP 7 months ago
@2010GOP thats the very attitude that has caused rating agencies and s&p to lower you credit rating! you exemptify the very reason the WTO at some point may have to get involved!
487shawn 7 months ago
@487shawn: Bull-fk'ing-shit. I posted direct statements from the S&P -- it's the level of DEBT.
"Standard & Poor’s takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.’s finances on a sustainable footing ....... we maintain our view that the U.S. net general government debt burden will likely continue to grow".
Translation: Liberal ideology that we need a Govt agency to control any & all things
2010GOP 7 months ago
@2010GOP s&p and other rating agenies around the world said that the political dissention and inablility to make cuts and consider revenues get it revenues (taxes) the republican party taken over by tea party member will not consider any taxes at any time, recipe for disaster!
487shawn 7 months ago
@487shawn: You're either confused or making shit up as you go along. Moody's and S&P said too much focus & politicizing was on the "ceiling", which was insignificant, taking away from the real culprit -- the debt.
Again, lower tax rates under Bush increased revenue. Virtually every sane economist opposes increasing tax rates. Bush tax rates have been in place for nearly a decade ~ it's obviously the insane spending, stupid!
2010GOP 7 months ago
@2010GOP OMG World need i say anymore!
487shawn 7 months ago
@487shawn:
Reuters: "S&P believes the outstanding debt of $14.3 trillion and projected deficits for coming years in the United States no longer warrant the top-tier rating"
Bush tax rates were in place 4 years prior to Democrats taking full control of Congress, 4 years and $6 trillion ago
Democrats - 4 years - $6T - more than all debt accumulated from George Washington thru Bill Clinton. But it's not the cause or anything ... it's from tax rates put in place nearly a decade ago. LOL
2010GOP 7 months ago
@487shawn You say the tea party "took over the republican party" That's just false. If that were true Michelle Bachman would be speaker. The tea party represent a minority of the congressional republicans. But they are a vocal minority who's message is clear, "Spend less, Tax less, Grow the economy." But who took over the Democratic party? The Socialists did. And what is there message: Just ask your leader and he'll tell you: Higher taxes, spending and redistribution.
kbar8888 7 months ago
@kbar8888 I am Canadian and really don't care who's in power, but the fact remains that the republican party has move so far to the right they have become fasist, The democrates have to realize that there will have to be cuts and the republican will have to realize there will be taxes. I have been trying to point out that Canada went thru exactly the same sitituation in the nineties and show how to pull your ass out of this sitituation!
487shawn 7 months ago
@487shawn Well, to correct one thing said, Fascist are not right wing. Hitler described the Fascists as Right to separate them from the Bolshivicks because except for who they wanted in charge there was little difference between the Nazis and the Communists. As for tax increases, how does removing money from people and giving it to govt grow the economy? If you could double what taxpayers are paying, the budget would still be $ 1/2 T short. Spending is the real problem.
kbar8888 7 months ago
@kbar8888 neither is the tea party right wing, try to put there extreme christian agenda along with thier poorly disguised racism. so yes they fit fascist more than conservative, i actually can respect conservative's like ron paul who have integrety i may disagree with his economic policies but i respect the man, i have no respect for michelle bachmann!
487shawn 7 months ago
@kbar8888 also this is now a modern global economy, that principle of leaving money in the hand of the few to invest in your domestic economy no longer applies, Prime Minister Paul Martin understood this and did revenue increase so he could do targeted spending, he also did a 18% cuts its a mixed bag!
487shawn 7 months ago
@487shawn Just increase taxes on the rich,that will raise revenues. Lower personal financial bills, cut taxes on the middle class,and lower classes.Cut uncessacary oil prices. Stop dopping bombs on Libya,the rebels are well supplied and are ready to overthrow Gaddafi. Get our troops out of the middle east. ALL OF THEM! Shut down our over 370,000 Milltary bases overseas and in forgien countries. Possibly then spending can be put under control and we get back our rating
MrKingjohnrocks 7 months ago
@MrKingjohnrocks that would be a great start!
487shawn 7 months ago
@487shawn Really great.
MrKingjohnrocks 7 months ago
@487shawn If the demorcratic party (My party)Could do everything i just said.And if a bill like that even PASSES the house.. Maybe it will go through in the demorcratic senate,and if it gets to obama's desk he will sign it.And then it becomes law.But us demorcrats have been trying to increase taxes every sense bush got in and messed up the economy and lowered taxes on the rich.
MrKingjohnrocks 7 months ago
@MrKingjohnrocks This is why credit agencies around the world and at your home have downgraded your credit rateing You have to have both cuts and taxes and to say you will never increase taxes you put a nail in your coffin!
487shawn 7 months ago
@MrKingjohnrocks to raise revenues is important to do targeted spending so you soften the blow to your population ie road bridges etc. not to have them is insanity at this time. but there has to be spending cuts as well your solution would go a long way!
487shawn 7 months ago
@487shawn Yes i agree.But also if Jesse ventura became president..He would try to break this government into a independant one. Republicans say bill clintion was horrible.When he was more better then bush! His politces and his raising taxes on the rich led to 8 years of economic growth.And bush and his policies... ugh it makes me sick. He made the rich richer..The unemployment rate was greatly big.. Poverty was increasing. it took 8 years to mess it up.it will take 8 years to fix it.
MrKingjohnrocks 7 months ago
@MrKingjohnrocks I don't know why it's so hard to understand you need a strong middle class in a modern society and to constantly squeese them your fucking up your consumer base and that to leave trillions to the top earners to mostly be invested oversea's leaves your economy weak!
487shawn 7 months ago
@487shawn Agreed.. My solution,Increase the minimum wadge.
MrKingjohnrocks 7 months ago
@MrKingjohnrocks also get your military spending under control and stop trying to be the policeman to the world make other countries step up and help!
487shawn 7 months ago
@487shawn In my other solution i pointed out that we need to shut down thousands of bases around the world.Get NATO out of libya. Get our troops out of the middle east ,and let middle eastren armies deal with it.
MrKingjohnrocks 7 months ago
@487shawn Cut milltary spending also.
MrKingjohnrocks 7 months ago
@MrKingjohnrocks the orginal intent of the un which is a mess was to gather all the stable countries to help and control the world set up a un military force paid equally by everone to respond to crisises around the world and put your engeries in makeing the un work!
487shawn 7 months ago
@kbar8888 so when the horrible obama talks about cut and revenue increases he's correct and is getting hated on both sides!
487shawn 7 months ago
@487shawn Surely you know that no one is suggesting a real cut, like spending less next year. When they say cut, they mean instead of spending $4.5T in the next year, to spend $4.475T. Hardly a cut when you look at how much they increase. Obama increased govt spending by 38% his first year. But I don't hate Obama. Hate is liberal thing. I feel sorry for him. He never even had a paper route. His whole life is based on govt money. He doesn't have a clue what he's doing.
kbar8888 7 months ago
@2010GOP That was in a world long gone this is a global economy and lower tax rate alone don't work because the money is invested elsewhere! the only country to rebound realitively quickly in the mondern economies of the world is Canada! open you mind stop being overcome by fear!
487shawn 7 months ago
@2010GOP It many come to the WTO putting an overseer on your economy i hope for your sake it paul martin, you are unable to even for a second realize that its a blended economy in the states like everywhere else and it requires both taxes and cuts!
487shawn 7 months ago
@2010GOP Yes of course your right. But all this proves is that JFK, Reagan, Clinton, and Bush hated "little brown children." Lowering taxes is racist. Making money is racist. Opposing Obamacare is racist. Purchasing an SUV is racist. Eliminating regulations is racist. Being a banker is racist. Being pro-life is racist. Believing in American Exceptionalism is racist. Voting Republican is racist. And posting about it on the internet is racist.
kbar8888 6 months ago
@kbar8888 Racist is the liberals answer to everything when you don't agree with them.
CaptainSpauIding 6 months ago
@CaptainSpauIding Yes, and the democrats have been practicing ECONOMIC PEDOPHILIA for years.
kbar8888 6 months ago
@kbar8888 if youwant to piss off a liberal tell them the truth , if you want to piss off a conservative tell them a lie
CaptainSpauIding 6 months ago
@CaptainSpauIding Some info 4 U. When the Bush tax cuts were implemented in 2003, unemployment was at 5.8%. During the next 4 years it dropped to 4.5% and 7 to 8 million new jobs were created. The budget deficit went from $554B in '03 to $500B in '07. Then Reid/Pelosi took over, and the Mark-to-Market rule was enacted. Thanks to years of Fannie/Freddie in May of 08 banks lost $500B over night. Then Obama's $1T stimulus. Now deficit for 2011 will be $1T w/ unemployment at 9.4%. I love numbers.
kbar8888 6 months ago
@kbar8888 Bush did warn the House about Freddie Mac and Fannie mae to deaf ears. Barney Frank is an incompetent guy who could not hold a job in the private sector. How does that clod keep gettin re elected ? He's an idiot !
CaptainSpauIding 6 months ago
@CaptainSpauIding Look at Merrill Lynch in July of 2008. When the mark to market rule went into effect no one had traded mortgage backed securities. So their value was still what it was before the rule. Then in July Merrill sold $30.6B at $0.22 on the dollar. Instantly, due to the rule, every bank had to write down the value of their mortgage backed securities by 78%. It cost the big banks $500B instantly. They were not prepared and it was "Katy bar the door!" All thanks to Dodd and Franks.
kbar8888 6 months ago
@kbar8888 in a private sector job not only would they be fired, but either 1) go to prison or 2) their careers would be over no matter where they went.
Then of course, there was that child porn scandal with Barney Frank. But, because of who he is, he came out unscratched.
CaptainSpauIding 6 months ago
@kbar8888 Bush left unemployment at over 8% where the hell you getting your information from. You're another example of republicans making up lies and trying to use them as fact. You full of shit.
haitianman117 6 months ago
@haitianman117 I'm sorry you can't do math. I'm talking about from the mid-term election in nov of 2002 thru the midterm election of nov 2006. That's congressional years 2003 thru 2006 (4 years). Pelosi became Speaker, and Reid became Senate Leader in Jan '07. The Unemployment rate for Jan of '07 was 4.5%. Sorry I forgot to use my crayons but I wasn't expecting a liberal to challenge me without reading "THEN REID/PELOSI TOOK OVER" and not understand when that was. Any more accusations?
kbar8888 6 months ago
@kbar8888 its real funny how you republicans can pick when you want to take credit for something, right now unemployment is over 9% and its the presidents fault but when bush was in office it was congress' fault that unemployment was hight as it was. So right now that the right has the hosue whose fault is it that they haven't proposed anything to create jobs? Whose fault is it that they caused the credit rating to go down?
haitianman117 6 months ago
@haitianman117 Oh, so now you understand the period of time? But your still confused. Beginning in '07 with the new democratic congress (aptly named as the opposite of progress) the troubles for the country began. A anti-business agenda was proposed by Pelosi/Reid which stalled the economic recovery began in '03. Since a budget is key to predicting debt to income ratios and the House has passed its budget, I'd say Democrats failure to pass a budget in 800+ days is to blame for the downgrade.
kbar8888 6 months ago
@kbar8888 you try to talk a good game but that's a bunch of nonsense. You want to keep blaming the old congress and the president for everything, but this congress has done nothing except block and block and then blame others. They sit around on vacation bitching and moaning about the president isn't doing anything then he comes out and agree too what they ask for and they just block him for giving them what they want. By the way S&P gave their reason for the down grade (REPUBLICANS FAULT.)
haitianman117 6 months ago
@haitianman117 Wrong again. S&P noted 6 reasons, all related to debt/income ratios. Key to this is a budget. House Republicans passed a budget, Senate Democrats havent. Why? Well it was widely reported that in '09 Dems didn't want to hang $1T defict on the people and then run for reelection in '10. Who is playing politics with our economy? If you don't understand the importants of a budget, go ask your parents. Or start a business and go to a bank for a loan without one. This is Obama's mess.
kbar8888 6 months ago
@kbar8888 S&Pspecifically said it was because republicans wanting to default and not raise the debt ceiling was the reason for the down grade. Deficit reduction had nothing to do with the debt ceiling but republicans had to create a mess of it and now here they are agin. They tried to block the raising of the debt ceiling and now they're blaming others for the down grade. Block, blame and dont propose any solutions for anything. The american people are watching and they see what is taking place.
haitianman117 6 months ago
@haitianman117 Neither the report nor any person from S&P have said "Republicans are to blame". Rather they repeatedly state the inability to reduce spending by at least $4T over 10 years. But if someone is to blame, how about Obama. He had a filibusterproof congress in '09 and the ability to raise the debt ceiling "cleanly". But Harry Reid say they would wait till Republicans who won the house in '10 came in so they could "share the blame" for more debt. Now that is playing political games.
kbar8888 6 months ago
@kbar8888 S&P said the downgrade was because the threat to purposly default and that was republicans that made that threat. 09 republicans filibustered everything so how could you say their was a filibusterproof congress, 5 had republicans to help pass health care reform. Republicans are trying to to hold the country hostage just so they can keep pushing their own ideological agendas. Now is not the time to be cutting programs that the middle class and poor depend on.
haitianman117 6 months ago
@haitianman117 Read the 8 page report. S&P listed 6 reasons. They didn't mention Republicans holding anyone hostage. Obama had a filibuster proof congress in prior to nov 2010. Look it up. He got a couple of Rinos to vote for Obamacare so he could claim it had "bi-partisan" support. Harry Reid specifically said they wouldn't pass a budget prior to the 2010 election so they wouldn't have to defend it at the polls, and the same for the Debt Ceiling. The middle class need a job, not a handout.
kbar8888 6 months ago
@kbar8888 ok then with that said then why hasn't their been 1 bill for jobs proposed by the right? The president has made plenty sugestion to create jobs and the right continue to block everything. High speed rail, fix the roads and bridges even fixing schools all these things republicans want to just block them but have time to make up bills against womens rights not 1 sugestion for jobs.
haitianman117 6 months ago
@kbar8888 Their is no point going back and forth with u on this, anything this president does you republicans are going to be against it even when he agrees to republican terms and give them what they want its a problem even when hegoes with plans made by republicans its still not good enough. Republicans from day 1 made it clear their number one agenda is not jobs, not the economy, nothing else but making Obama a one term president just sit back do nothing block everything.
haitianman117 6 months ago
@haitianman117 Of course there is no point in "going back and forth." You see the same numbers I do. You say Republican's oppose Obama's agenda, of course we do. The question is, why don't you? Why don't you oppose policies that have produced 9.4% unemployment, $1.5T in deficits, govt takeover of GM/Chysler, govt takeover of healthcare, govt blocking Boeing from employing workers in SC, govt blocking oil production, govt intimidation of small banks into giving loans, etc., etc.?
kbar8888 6 months ago
@2010GOP Illinois and California: big time liberal states are both broke.
CaptainSpauIding 6 months ago
@avnguyen123 cont of america, this is the true danger! Almost all retirment fund only allow investment in triple a rated bonds treasuries etc if one more ratings agency drops the us rating they wil have to pull thier investments out! that means towns cities states will have to find finding elsewhere which in this economy and the massive amounts that would be needed bankruptcy for the usa, your only a hairs breath from this! if they had brought in a balanced apporoch it would have been different
487shawn 7 months ago
"For some reason, I feel safer funding the best defense system possible vs. ensuring that a crack-whore can stay home & make more babies"
I always knew it was really racism with you guys
Scallopshell98 7 months ago
@Scallopshell98: When you read "crack-whore", it appears you automatically assumed I was referring to minorities. Thanks for proving that it's you who is the racist while pointing the finger at others. Liberals are notorious for shit like that
2010GOP 7 months ago
Get Rid of Obama !!!!!!
luilun 7 months ago
Obama the worst President since Jimmy Carter needs to resign or Kick back to Kenya let him destroy Kenya
luilun 7 months ago
Canada = triple Eh
TheTSina 7 months ago
when's the next downgrade is the question, they're about 3 years behind
TheSMFTRADER 7 months ago
@TheSMFTRADER its possible but not likely due to the massive political and economic fallout that if the one of the other two rating agencies in the states could do this on Monday!
487shawn 7 months ago
cont but with spending cut and taxes is the only way canada pull out a balance approach, however we did everything we could to keep our social progams so we did'nt throw granny under the bus, all you have to do is look at Canada during the time of Brian Malroney to see what going to happen next! and to fix it look at what Paul Martin had to do! its simple balanced!!!!
487shawn 7 months ago
I have been trying since june to tell this to american and have been constanly attacted by republicans, now my inbox if full of americans asking how i knew this was going to happen, its not rock sience you just have to look a Canada under Brian Malroney(lyin brian) who was a personal friend of ronald regan and adopted wholeheartly reganomics and brought in one historic debt after another bankrupting Canada Paul Martin who replaced him raised corporate taxes 4 times and its was painful!
487shawn 7 months ago
And now for the really bad news which is being downplayed, the middle class who have embraced for the most part the republican party who has the majority of its investments in retirement funds who require a triple a rateing by there law to invest in government bonds will have to disinvest from your town cities states that means that they would have to find funding elsewhere which is impossible thus bankrupt, you are a hairs breath from this happening! now give your republican rep a big wet kiss!
487shawn 7 months ago
Terroist around the world give the republicans a big wet kiss! and no it is not amature hour the rest of the world knew this was comming and some had already downgraded you! and before a dumb ass republican pull some fiqures out of his ass and twist it to suit his agenda the fact is your tax rates are the lowest in generations To put it in SImple term the World does not believe that the republicans can raise revenues ever! the World knows in order to get a balance you need and must have taxes!
487shawn 7 months ago
It's time to boycott S&P. They're unAmerican, fucking liberal fags. How can an American company downgrade the credit rating of America?
BornWhiteSupremacy1 7 months ago
US DOLLAR END OF DAYS>> NO LONGER THE CURRENCY OF CHOICE>> DOLLAR DECLINE STARTED BY NIXON 1971.. DEBASEMENT OF THE DOLLAR FROM GOLD..
rajaster 7 months ago
Thanks President Bush!
Scallopshell98 7 months ago
@Scallopshell98: Embarrassingly stupid. Democrats controlled both Houses of Congress beginning Jan 2007, still control the Senate, and Obama is in his 3rd year.
2010GOP 7 months ago
@2010GOP You think all this Started in 2007 when the dems got control and where only in control of congess?
As for Obama, ever hear of the filiabuster?
Republicans and Bush started/caused this and now the republicnas wont let Obama and the dems fix it. That is a fact
Scallopshell98 7 months ago
@Scallopshell98: LOL ..such ignorance
The main cause of the economic meltdown was the Liberal "social justice" initiative in the housing sector beginning most prominently at the end of Clinton's term -- Republicans were called "racist" & not caring for the "poor" for opposing
Behind the insane level of spending were Democrats, beginning 2007, full-throttle when Obama got in -- Republicans were called the "party of no", hurting growth, etc
Obama had a majority in both Houses the first 2 yrs
2010GOP 7 months ago
@2010GOP You're extremely ignorant. For someone who keeps on defending that all we need to do is cut funding to social programs (but not Defense...lets keep that money to build airplanes with lasers and teleportion devices to help us in the deserts of Afghanistan so the US is safe). Give me a break. We essentially presented to S&P the Bonemenice&hardintheazzher's Plan. And look what that got us.
Xavieric311 7 months ago
@Xavieric311: WTF are you talking about? When did I state to cut social programs but not defense?
Republicans' initial plan cut defense spending in which I supported. It also revamped many 'social programs', identifying waste & fraud, etc.
Social programs account for nearly 60% of the total Federal budget -- our entire Nat'l Defense is 23%. For some reason, I feel safer funding the best defense system possible vs. ensuring that a crack-whore can stay home & make more babies
2010GOP 7 months ago
@2010GOP "President G.W. Bush sets goal of increasing minority home owners by at least 5.5 million by 2010 through billions of dollars in tax credits, subsidies and a Fannie Mae commitment of $440 billion to establish NeighborWorks America with faith based organizations."
Scallopshell98 7 months ago
@Scallopshell98: Are you mentally retarded?
Again, Bush's initiative centered around "education" for "qualified" homebuyers for "responsible" homebuying -- a loan program w/strict underwriting guidelines relating to DTI & credit; 30 yr fixed fully amortized. Funding was reallocated Sec 8 housing funds. No mandated quotas
Liberals wanted quotas met regardless of credit/qualifying standards, exotic programs, teaser rates to generate fake DTIs -- and threatened action by the Atty Gen to enforce
2010GOP 7 months ago
WITH THE USA CREDIT DOWNGRADED FROM (AAA) TO (AA+) DOES THAT MEAN WE ARE THIRD WORLD COUNTRY OR WHAT? IF SO, THE BRITISH MIGHT AS WELL TAKE US BACK AGAIN.
elmano04 7 months ago
This what happens to people borrowing huge while considering tax a swear word. States that borrow huge and have no serious tax revenue are failure from the very start.
Efteling4Ever 7 months ago
@Efteling4Ever: That's absolute bullshit.
Take a look at the economic conditions of high-tax states compared to low-tax.
After Bush tax cuts, 2003-2007, 8 million jobs were created, average income increased significantly, and revenue increased $785 billion -- the largest 4 year revenue increase in American history.
What happened when Reagan lowered taxes? When the Republican Congress under Clinton lowered taxes? When JFK lowered taxes?
2010GOP 7 months ago
@2010GOP BS? Of course, but hey I am just a weird European "socialist" What do I know about the necessity of taxes? LOL
But let me tell you a thing or 2.
1) the high tax states in Europe with most "socialist" economies are the strongest economies in the world. These even provide the finances to bail out failures like Greece. Now Greece is like YOU. It borrowed huge and never properly collected taxes. And now its gone. Greece is scaringly similar to the US.
Efteling4Ever 7 months ago
@2010GOP
2) As a matter of fact, ALL Euro states with issues are very much like you. Ireland is a tax haven compared to the rest. E.g. Ireland and Spain (not exactly known for their "socialism") have a banking and real estate crisis. Familiar? Spain too has a banking and real estate crisis. All due to borrowing, living on credits that cannot be repayed. Ireland is a tax haven towards companies. The typical US approach and what is it now: a state without a nickle to spare.
Efteling4Ever 7 months ago
@2010GOP As for Bush tax cuts, you can see the results .... now. But dont let that distract you from the idea that taxes might actually be a good idea. LOL
Efteling4Ever 7 months ago
@Efteling4Ever: As I stated, the increased revenue from Bush tax cuts occurred 2003-2007. Congress controls the spending/budget. Which party took full control of Congress in 2007 & put forward the largest spending bill in history, among other massive spending measures?
Free markets & less government is precisely how the U.S. became the most powerful & prosperous nation on the planet in a very short time. It wasn't by mocking other nations' socialist policies.
2010GOP 7 months ago
@2010GOP "most powerful & prosperous nation on the planet in a very short time"
Powerful? Well, we dont do military toys. But most prosperous? No that is North Western Europe these days. Largest economy being the EU.
Efteling4Ever 7 months ago
@2010GOP "Free markets & less government is precisely how the U.S. became the most powerful & prosperous nation on the planet "
Naaah. It is because there must be "space". That is the "environment" must be able to sustain the number of people around. Your system worked because in the 19th century there was more growth than people to feed. And because one could simple start over "somewhere miles away in Indian territory". It is because FEW people started to use the many mineral resources
Efteling4Ever 7 months ago
@2010GOP Thius is basically what Europe did back then. Colonies to get resources for free. Enough "space" to sustain your numbers. Your low tax system alraedy turned sour in the early 20th cent. The only thing that saved your economy was WWII after which again there were huge markets and growth because everything had to be rebuilt in Europe and because growth in Europe was larger that the number of mounts to feed.
Efteling4Ever 7 months ago
@2010GOP All that is over now.
Growth is small. It cannot keep up with the number of poor and unemployed and the increasing struggling middle class you have. And this time there is no miracle.There is no war resulting in new markets. There is no territory to go to get some free mineral resources. It is just your state, its expenses and its tax revenue.
And with your low tax revenue ......well, good luck :-)
Efteling4Ever 7 months ago
@Efteling4Ever: What you fail to understand is conservative low-tax policies actually create more revenue by promoting economic growth. The debate is the means in how revenue is obtained.
Corporations are relocating to conservative low-tax business-friendly states, thereby increasing employment, which then increases housing, which then increases demand in goods, which then increases demand/profits in other markets, which then increases employment further, etc --- the result is higher revenue
2010GOP 7 months ago
@Efteling4Ever: The main culprit in our economic collapse was housing, 2-fold.
Democrats forcing the creation of risky mortgages -- aka "Liberal social justice".
Democrats protecting their GSE buddies' erroneous accounting practices --- another example of what happens when government is too involved in the private market creating corruption & destruction
2010GOP 7 months ago
@2010GOP Lets do some basic math shall we. S&P: "The downgrade reflects our opinion that the fiscal control plan that Congress & the Administration agreed to falls short of, in our view, would be necessary to stabalize govern medium-term debt dyanmics" + Boneme&theUSintheAzzher: "..we got 98% of what we wanted in debt consolidation plan" = GOP has f'ed America once again!
Xavieric311 7 months ago 2
@Xavieric311: The GOP is only 1/2 of 1/3 of government. Most Republican/Conservatives would have preferred to take an axe to the spending. Of course, that would have never flown with the 2/3 who currently control -- yet you point fingers at the GOP -- the very party who warned of the insane spending the last 2 years.
And which party has refused to so much as propose a budget in 820+ days??
2010GOP 7 months ago
@Efteling4Ever:
CONSERVATIVE STATES: Strongest Economies, Lowest Unemployment rates, Lowest Welfare rates per capita .... all with the Lowest Taxes.
Of the top 16 welfare states, 15 are Democrat 'blue', as reported by CNBC.
The 10 poorest cities in the nation have all voted Democrat in local, state & national elections for 40+ consecutive years
2010GOP 7 months ago
REAP WHAT YOU SEW. This is just fallout of what happened during that texas gov's stay as pres.
airthief36 7 months ago
This is all FAKE!
rapstrangler 7 months ago
@avnguyen123 Oh and BTW genius. Congress does NOT equal the "GOP". The House is majority GOP. The Senate is majority DEMCORAT. Head your dumbass back to school so you don't have to remove comments in the future after making a fool of yourself.
falcondriver100 7 months ago
@falcondriver100
The Head of S&P Clearly states that their reason for the downgrade was because the GOP was using the default as a political tactic and a bargaining chip.:
John Chambers of S&P: Asked who was to blame, Chambers said, “This is a problem that’s been a long time in the making—well over this administration, the prior administration.”
Congress should shoulder some of the blame, he said. “The first thing it could have done is to have raised the debt ceiling in a timely manner..."
avnguyen123 7 months ago
@avnguyen123:
July 18, 2011: "Moody's Suggests U.S. Eliminate Debt Ceiling --- S&P says U.S. Could Default Even if Debt Ceiling is Raised"
Wasn't the "ceiling"; most countries don't have one; it's the level of debt
S&P: "We may lower the long-term rating on the U.S. if we conclude that Congress and the Administration have not achieved a credible solution to the rising U.S. government debt burden -- the U.S. fiscal stance has become entangled with the debate over the ceiling"
2010GOP 7 months ago