Which pretty makes makes clear the obvious, that S&P downgraded us because we have monstrous deficit and debt and the two opposing factions have very different ideas for how to deal with it and are basically evenly matched and not gonna budge. But if you and everyone else want to pretend you know what the hell you're talking about and play the usual partisan bullshit as though it even applied go right ahead. I guess snoops' half-sentence quote from the 8-page report is what you refer to, might I suggest making the minimal effort to read the whole thing?
Actually, no, I wasn't referring to that at all, I was referring to this quote from the story I linked (in the post to which you responded):
The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, effective, and less predictable than what we previously believed.
Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the [debt ceiling deal.
Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the [debt ceiling deal.
Yes, Democrats and Republicans have very different ideas on how to proceed: Democrats (supposedly) want tax hikes AND spending cuts (which is why they STARTED from a negotiation position that put $1.5 trillion in spending cuts on the table) while Republicans want spending cuts only. What's more, Republicans want those cuts bad enough to turn a previously routine debt ceiling extension into a doomsday scenario, in part because much of the Tea Party thinks a US default would be no big deal and 59 of its 60 member House caucus pledged not to raise the debt ceiling under ANY circumstances (a pledge, incidentally, about half of them broke in the end).
So, yeah, the two parties have very different mutually exclusive ideas on how to solve the debt problem: Democrats want (or say they do) the kind of dual approach S&P does, and Republicans want spending cuts only, to the extent they're willing to engage in the brinksmanship S&P condemns. As for "partisan bullshit", I think (hope) one thing we can both agree on is that S&P didn't say, "Obama should resign. "
Meh, and again I say, meh. America's got the money; the government just doesn't have access to much of it, and keeps spending like it does anyway. One way or the other both of those things will change soon; I'm just hoping this (or something) provides the wake up call to end the spoiled childish delusion that tax hikes are always bad and un-American. The public's equally fed up with Republicans serving a monied aristocracy at the expense of the nation AND Democrats doing the same thing while claiming to offer an alternative they never even try to deliver. The Presidents approval rating is 42% but he's banking on re-election because it's a two party system and Congress has an approval rating of 14%; the public won't idly watch that forever as their living standard deteriorates at an alarming pace. There ARE plenty of extremists on both sides, so I hope the political leadership regains its sanity soon to prevent those extremists seizing control through popular consent. But don't make the mistake of assuming I'm just saying, "Democrats r00l and Republicans dr00l" because they're just two sides of the same corporate coin. I'm desperately hoping for a peaceful alternative, either reform from within or a viable effective third party, because otherwise I expect rioting in the streets that will put everyones life at risk, which I very much don't want.
Honorbound and honored to be Bonded to Mahtaliel Sedai
Last First in wotmania Chat
Slightly better than chocolate.
Love still can't be coerced.
Please Don't Eat the Newbies!
LoL. Be well, RAFOlk.
Last First in wotmania Chat
Slightly better than chocolate.
Love still can't be coerced.
Please Don't Eat the Newbies!
LoL. Be well, RAFOlk.
US Credit Rate Downgraded - Obama should resign.....
06/08/2011 04:12:48 AM
- 1331 Views
Que tonterías.
06/08/2011 04:23:49 AM
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Really?
06/08/2011 05:05:48 AM
- 914 Views
Leaders have to lead.....
06/08/2011 05:18:21 AM
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Cuts aren't up to him, though.
06/08/2011 05:37:50 AM
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Yeah, sure, the President has no say or control.....good grief..... *NM*
06/08/2011 06:13:49 AM
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S&P didn't demand cuts, they demanded fiscal responsibility.
06/08/2011 03:18:10 PM
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and haters gotta hate..... *NM*
06/08/2011 05:49:25 AM
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I admit it, I hate what Obama is doing to our country..... *NM*
06/08/2011 06:12:39 AM
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you, it was the tea party republicans that caused this
06/08/2011 05:57:16 AM
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As ever your disinterest in facts seems to be central to your posting.
06/08/2011 11:34:20 AM
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Which would be less annoying if so much of Congress didn't suffer from the same delusions.
06/08/2011 03:48:04 PM
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Does Timmy G play sax like his brother Kenny? *NM*
06/08/2011 01:11:17 PM
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Fun fact - I dated in HS Kenny G's niece.....
06/08/2011 03:13:52 PM
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S&P specifically cited GOP refusal to raise taxes among their reasons.
06/08/2011 03:10:22 PM
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Of course one could just read the actual S&P report
06/08/2011 04:01:07 PM
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Sure.
06/08/2011 04:53:47 PM
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Right, ABC new's summary of the report is not the report
06/08/2011 07:02:46 PM
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Link works, but I'm not sure why you think it refutes snoops assessment or mine.
06/08/2011 08:35:10 PM
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It doesn't refute it, it just isn't this simple distillation you're offering
06/08/2011 09:23:33 PM
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It's more than half a sentence; I quoted several paragraphs.
06/08/2011 09:56:31 PM
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Well yes, after I gave you the report, I think I'm pretty obviously refering to before that
06/08/2011 11:02:17 PM
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Before that I was referring to the paragraphs quoted in the ABC report.
07/08/2011 01:21:18 AM
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not really
06/08/2011 10:15:32 PM
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"the mix of spending and revenue measures"
06/08/2011 10:23:06 PM
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So you read the statement that they take no posistion as they take the dem position?
07/08/2011 04:51:58 AM
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I read a "mix" to be a mix.
09/08/2011 12:14:35 AM
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So in other words you just ignore the actaull words and read it say what you want it to say *NM*
09/08/2011 02:07:57 PM
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A mix of something and nothing is impossible; one thing is one thing, not a mix.
09/08/2011 04:56:00 PM
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US politicians are too busy fighting over who gets to play the fiddle. *NM*
06/08/2011 05:53:32 PM
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would him resigning really help?
07/08/2011 10:24:00 AM
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not as long as he has the high functioning moron Joe Biden as VP.
08/08/2011 12:34:32 AM
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In reality, its Congress (BOTH parties) AND the President who are to blame.
08/08/2011 01:59:13 AM
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40% is not a small tax increase and a small spending cut
09/08/2011 04:20:28 AM
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Why are people making a deal about the debt ceiling increase?
09/08/2011 03:42:13 PM
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Because, when you get down to it, the debt ceilings very existence was always a political threat.
09/08/2011 05:02:12 PM
- 718 Views