AC360 - John Chambers Of S&P On Why The U.S. Credit Rating Was Downgraded

[thenewmike2012]

We have the Tea Party to thank for this downgrade by bullying the GOP into that very childish display of absolute resistance to raising the debt ceiling without asking the VERY rich to forgo their unnecessary tax breaks, and DEMANDING cuts ONLY from middle class and poor Americans. Michelle Bachmann, in her non stop mantra to make The President a one termer, seemed to be praying for a default. Im sure shes THRILLED to see this downgrade on Obamas watch, that SHE & the TP helped create. Shameful!

[sbtobler]

@thenewmike2012 You seriously believe that lie?

[thenewmike2012]

The TeaParty/GOP should /will pay a hefty price in 2012 for living up to their promise to block ANY moves Obama makes to help our country & economy ...AND for having the gall to ask him where are his results?! The Repubs are hell bent on defeating Obama regardless of what’s best for our country. Seniors, Independents, and SMART voters will see through this TP game and will vote Obama in 2012.

[sbtobler]

@thenewmike2012 Yeah right - you might want to check your poll numbers again.

[thenewmike2012]

@sbtobler You want poll numbers? How about this one; Just yesterday Fox, YES, FOX , showed a poll that 79% of Americans view the Tea Party as unfavorable or no opinion. Only 20% have a favorable view of them.

[AbitaVets]

GLANCED RIGHT OVER THE SECOND STATEMENT TO QUOTE ONLY ANTI REPUBLICAN BULLSHIT

COOPER... WHAT A LIB LOSER The downgrade reflects our opinion that the fiscal consolidation plan

that Congress and the Administration recently agreed to falls short of

what, in our view, would be necessary to stabilize the government's

medium-term debt dynamics

AS IN SPENDING MONEY NOT EARNED FOR DECADES......FOOL

DO ANY LIBERAL IDIOTS UNDERSTAND THAT ECONOMIC ACTIVITY CREATES TAX REVENUE NOT HIGH TAXES

[algol291]

a 7 trillion dollar difference in the Feds opinion of GDP to that of the Treasurey Commision?! Wonder if our government is lying to the public? Anything to be re-elected to office...

[InfoWarhorse]

END THE FED

[lilfreeway21]

we should just go back to the barter systeme and then everything would be peachy

[anglitoestebancito]

Where was S&P's in 2008?

BTW why the workd POOR in this company's name?

[mystic1of1]

@anglitoestebancito go to college and learn economics.

[anglitoestebancito]

@mystic1of1

Henry Varnum Poor.

[gre68]

the chinese want to have their money back.....more than 1000 billion dollars!!..sorry, the republicans and democrats are busy fighting. Come back later. I hope they are done soon because I don not want to live in a cave again, hunt for mamut. I think I speak for the rest of the world. Otherwise we will all bow to our new leaders. Mabye get myself the red book of Mao.

[silviasboy]

Get the rich put their input in revenue !!!

[aratosm]

Somehow I think that the guy is doing it in his own self interest.

[ERICRIPPER1]

tax the frickin rich. game over!

[kungfooed]

People will blame Obama and the Tea Party, but really this is a problem that has been ongoing for years. The budget wasn't even passed for two and a half years. Then the tea party said cuts had to be made. In a sense they were right. But real reforms have to occur. Really new thinking is needed in Washington. Dems need to think about less entitlements and a smaller govt. Repubs may need to let some taxes go up, but dems have to stop catering to the least profitable people.

[apalm20]

Go to American Gold Reserve dot com and use the sponsor code "orphan" Sign up for free to start making money from gold and silver!!!! Remember, this is absolutely FREE!!

[Pauly69s]

let a total fuckin collapse occur...then maybe people will wake up and overthrow this government and take it back to the people...

[SAMMARTINO68]

HA HA LET THE EMPIRE FALL AMERICA IS SICK AND MUST BE ALLOWED TO DIE.

[Zander242]

Italy and Greece also thought it was wrong to downgrade them...

[videoguy604]

Why not give increasing REVENUE a try?

[AbitaVets]

@videoguy604POSTED

Why not give increasing REVENUE a try?

LOWER THE COST OF CREATING INCOME, MONEY IS QUITE MOBILE, I WALKS RIGHT ON OVER TO EASY STREET.

IF MONEY CAN BE INVESTED AND SPENT WORLD WIDE, WHY WOULD IT STAY IN THE UNITED STATES?

WHY WOULD ANY FOREIGN MONEY EVER COME TO WORK(BE INVESTED) IN THE UNITED STATES.

LOWER TAXES ON INVESTMENT, KEEP REGULATIONS SANE(DAMN SURE DONT POISON YOUR COUNTRY AS CHAIN HAS)

BE A TRUE CONSERVATIVE.

DONT WASTE ANY ASSET, NATURAL, OR FINANCIAL.

[ambigroove]

@videoguy604 Why not give cutting spending a try too?

[videoguy604]

@ambigroove Certainly, let's stop spending more on the military than every other nation on the planet combined.

[ambigroove]

@videoguy604 Agree. Wow that was easy. Now if only congress... :)

[ITILII]

@videoguy604 more taxes, fees, fines, regulations:.less freedom, great idea !!! how about DECREASING spending, and leaving the American people with more of their OWN money in their pockets, then maybe they can have some to spend to meet the high and rising prices on basic things (oh sorry, there's no inflation) even better, how about we actually MAKE something in this country, instead of debt ? And get RID of the Fed and have the Govt issue interest free money as the Constitution requires

[videoguy604]

@ITILII All the money is in the top 10%, the bottom 90% has no wealth to "keep" anything they save up will be lost the first time a family member checks into the hospital.

[sbtobler]

@videoguy604 Why not call it what it really is. Let me help you out. You probably meant to say "Why not give increasing TAXES a try?"

[videoguy604]

@sbtobler Yeah, why not?

[sbtobler]

@videoguy604 Because it won't solve the HUGE underlying problem that is really at the core of our issues - BIG government overspending and not being held accountable. They could take 100% of your income as 'revenue' and still be in the same boat. Yeah, that's right, let's throw good money after bad...brilliant.

[videoguy604]

@sbtobler The government is too small.

[guerriero667]

I guess John Chambers is a dead man walking.

[vlada881]

National debt 14.6T. Fucking daaa!

[sirTittytwister]

What a shocking "surprise"!!!.... why did it take this long, anyways,...the whole system is/was flawed from the start (FEDERAL RESERVE SYSTEM)

[mstraney]

@sirTittytwister Did you hear the S&P rep at all?

He said there are 5 factors in the credit rating for sovereign nations(like the US)

1. Political system -

2 fiscal position (deficit/debt) -

3 Economy(growth) +

4 External Position($ as world reserve currency) +

And lastly

5 Monetary Policy(the Fed) +

About which Mr. Chambers said, " Which of course the credibility of US monetary is UNQUESTIONED" @9:01 as in solid gold, flawless, wonderful. This wasn't about the Fed at all. Wake up.

[EnlightenedChordate]

@mstraney You're not going to make much headway with the 'end the fed' crowd. They've watched two hours of low-budged pro-libertarian documentaries on tinfoil hat dot com. They know EVERYTHING about monetary policy.

[sirTittytwister]

@mstraney it's ALL ABOUT the FED,... the FED is the cause,

directly and indirectly of almost all that is wrong with the US government,...

[AbitaVets]

@mstraney VIDEO AT 2:50 DEBT TO GDP RATIO IS THE ISSUE

COOPER HEARS ONLY WHAT HE WANTS

THE LACK OF MOVEMENT ON LARGE DEBT, IN RELATIONSHIP TO GDP IS THE PROBLEM.

WHEN ONE PARTY BUYS VOTES FROM MILLIONS OF CITIZENS, THE PUBLIC COFFERS OFTEN GO BARE...

WAR COSTS

THE UNITED STATES LACKS THE WILL TO ACTUALLY BACK CHARGE THE COST, AND HAS A HIGHER MORALITY THAN TO PLUNDER NATIONS THAT IT CLEARLY VANQUISHED.

HISTORICALLY PLUNDER PROVIDED THE WEALTH FOR THE BREAD AND CIRCUSES THAT WE SEE TODAY.

[TheMidwestAtheist]

@sirTittytwister Um, we've had a AAA rating since 1913. When was the Federal Reserve established???  Hmmm.... Coincidence? Maybe.

[jerkeck2]

@TheMidwestAtheist since 1917 actually

[sirTittytwister]

@TheMidwestAtheist

...The Federal Reserve "SYSTEM", is a "rotten" system, it has been rotten from its creation,... and since "it" has power over our money , "it" spoils our money, ...and since money is related to all aspects of Government, "it's rotted our Government,...

FRACTIONAL RESERVE BANKING = FEDERAL RESERVE SYSTEM,...

..(its time to make THE FED, DEAD)

[AlMayer1100]

@sirTittytwister There is only one alternative system. Money is public domain. If your savngs are rising beyond what you'd need to survive for 2 years without income must be confiscated. Otherwise there will always be people who are stealing the money from the circulation and accumulate it. The accumulation of money and the fact that currecies are treated as "goods" are the fundamental problems of all money systems.

[sirTittytwister]

@AlMayer1100 GOLD is the way,.....it's historical record, is 2nd to NONE,

GOLD + "FULL"  RESERVE SYSTEM = HONEST MONEY

PAPER + "FRACTIONAL" RESERVE SYSTEM = SHITTY MONEY