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Odysseus
08-08-2011, 05:48 PM
Partisan gridlock is real culprit, S&P says

By Ben Wolfgang
-
The Washington Times
Updated: 10:36 p.m. on Sunday, August 7, 2011

While continuing to cast doubt on the credibility of Standard & Poor's, several Democrats on Sunday said there is an even greater culprit in the downgrade of the nation's credit rating: the tea party.

"I believe this is, without question, the tea party downgrade," Sen. John F. Kerry, Massachusetts Democrat, said on NBC's "Meet the Press" on Sunday, a day that also saw mounting anxieties in world markets over the downgrade among myriad other economic woes worldwide. Some of the world's top financial ministers issued a joint statement Sunday night committing themselves to preserve the stability of financial markets and their economies.

David Axelrod, a former senior adviser to President Obama, used the exact same phrase in dubbing the credit rating drop the "tea party downgrade," as Democrats tried to position themselves as reasonable, pragmatic leaders and conservative Republicans as irresponsible ideologues who caused the downgrade by refusing to accept any new taxes.

That's exactly the kind of blame game that led Standard & Poor's, one of three key credit-ratings agencies, to strip the U.S. federal government of its AAA status Friday night and reducing it to AA+ for the first time in the nation's history.

"Congress and the administration are jointly responsible for the conduct of fiscal policy. So, this is not really about either political party," David Beers, the head of S&P's government debt-rating unit, said during an appearance on "Fox News Sunday."

In justifying its actions, S&P cited the political gridlock that continues to paralyze Washington. Although Democrats and Republicans eventually came together last week and crafted a compromise bill to raise the nation's debt ceiling, S&P decided it wasn't enough to save the nation's AAA status, a rating still held by France, Sweden and other countries, and businesses such as Coca-Cola Co. and Microsoft Corp.

"Even with the agreement of Congress and the administration this past week ... the underlying debt burden of the U.S. government is rising and will continue to do so most likely over the next decade," Mr. Beers said.

Sen. Lindsey Graham, South Carolina Republican, defended the tea party and said that without the movement, trillions of dollars in spending cuts wouldn't be possible.

http://www.washingtontimes.com/news/2011/aug/7/democrats-seek-to-pin-credit-downgrade-on-tea-part/
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Sounds like a talking point. Let's see if anyone is stupid enough to fall for it.

Molon Labe
08-09-2011, 10:39 AM
no, gridlock is always good.


One of the greatest delusions in the world is the hope that the evils in this world are to be cured by legislation - Thomas Brackett Reed

wineslob
08-09-2011, 01:28 PM
Look in the mirror, DUmbocraps.

AmPat
08-09-2011, 08:02 PM
The liberturds are only going to go down in history for the DUmb $*** they say. Nobody but their own mindless idiots repeat their lies. Only the truly stupid and ignorant, the minions that elected these fools, accept their lies as truth.

lacarnut
08-09-2011, 08:37 PM
The cut, cap and balance bill that the House Repubs put forth was DOA according to Reid and Obama. That is not what I call compromise. The Tea Party wanted deep cuts. They did not get them. Democraps and the Magic Negro are just playing politics and lying thru their eye teeth cause the truth is that these assholes wanted zero cuts. They wanted tax increases. Blaming the Tea Party is way out in left field.

malloc
08-09-2011, 09:08 PM
The cut, cap and balance bill that the House Repubs put forth was DOA according to Reid and Obama. That is not what I call compromise.

Furthermore the CC&B plan was really the ONLY one proposed that met all the requirements S&P was looking for in order to avert the downgrade:



Q: “There’s been a figure of $4 trillion dollars circulating as an example of the scope of fiscal consolidation measures that could work to stabilize the U.S. debt-gdp ratios. Could you explain how that figure was arrived at since it was mentioned in S&P’s reports and where it figures in S&P analysis?”

A: “First of all, that figure comes initially from the Bowles-Simpson fiscal commission, and it was embraced by President Obama in his April 13 speech and Paul Ryan in his counter-budget proposal. And so you had policy makers converging around the amount. Now actually the $4 trillion, depending on whether it is front-loaded or back-loaded, is not going to do the trick in terms of stabilizing U.S. government debt-to GDP ratios. But it takes you pretty far along. And I think a grand bargain of that nature would signal, you know, the seriousness of policy makers to address the fiscal issues of the United States, to actually stabilize the debt-to-GDP. The IMF says it takes 7.5% of GDP consolidation. I think we have more than that.”

The U.S. annual budget deficit is now around 9% of GDP.

Chambers adds: “But $4 trillion would be a good down payment. We thought that..if policy makers could deliver the goods on that, then that would be a strong sign on our political scores and eventually on our projections on the fiscal side.”

S&P has already said it may slash the Triple-A rating if a debt ceiling deal is not accompanied by what it deems is a credible plan to cut the $14.3 trillion federal [debt] by $4 trillion. The plan has “to have bipartisan support,” Chambers said. “If you have a plan that is only backed by one side or the other, even if you got it through, you would be faced with the prospect of it being unwound.”

So, S&P’s Chambers is saying the ratings agency wants to see at least a $4 trillion deal, one that would come with bipartisan support, too, because the ratings agency fears without that support, Congress will upend any debt-cutting plan.

Cut, Cap & Balance cut the $4 Trillion, so milestone 1 was met. At least 5 Democrats voted "aye" with 7 voting "present" means this bill had the most bipartisan support of any bill that met milestone 1. The senate democrats blocked it, and House Democrats in red areas didn't support it for partisan reasons.

The Democrats own the degrade, and there is simply no arguing or spinning around that. I think the American people are pissed off enough to actually look this one up, and not just let NBC, ABC, or CNN tell them about it.

lacarnut
08-09-2011, 11:32 PM
Furthermore the CC&B plan was really the ONLY one proposed that met all the requirements S&P was looking for in order to avert the downgrade:



Cut, Cap & Balance cut the $4 Trillion, so milestone 1 was met. At least 5 Democrats voted "aye" with 7 voting "present" means this bill had the most bipartisan support of any bill that met milestone 1. The senate democrats blocked it, and House Democrats in red areas didn't support it for partisan reasons.

The Democrats own the degrade, and there is simply no arguing or spinning around that. I think the American people are pissed off enough to actually look this one up, and not just let NBC, ABC, or CNN tell them about it.

I have come to the conclusion that Obama and the Democrats have decided that the executive branch trumps the other two. Obama insulted the S.C. chastising them because he did not like a decision. Obama has decided he will not obey a court decision to restart drilling in the Gulf of Mexico. He knew he could ride herd over the Repubs and get what he wanted. He blew off the bi partisan debt plan. He lies about the default stating that the troops and SS recipients would not get paid. After that, King Obama and tax cheat Geithner stated that there was no way the S&P would downgrade our debt. These two dunces overplayed their hand and the S&P stuck it to them. Now, the sorry losers in the Democratic Party blames the Tea Party which is a joke because they were the ones that wanted big cuts (4 trillion) which were rejected out of hand. Just another stain on Obama and liberal hacks like Kerry and Axle.

malloc
08-09-2011, 11:58 PM
I have come to the conclusion that Obama and the Democrats have decided that the executive branch trumps the other two. Obama insulted the S.C. chastising them because he did not like a decision. Obama has decided he will not obey a court decision to restart drilling in the Gulf of Mexico. He knew he could ride herd over the Repubs and get what he wanted. He blew off the bi partisan debt plan. He lies about the default stating that the troops and SS recipients would not get paid. After that, King Obama and tax cheat Geithner stated that there was no way the S&P would downgrade our debt. These two dunces overplayed their hand and the S&P stuck it to them. Now, the sorry losers in the Democratic Party blames the Tea Party which is a joke because they were the ones that wanted big cuts (4 trillion) which were rejected out of hand. Just another stain on Obama and liberal hacks like Kerry and Axle.

I'm not exactly the Nostradamus of politics, but Obama is going to leave a stain on the Democratic party for a good long time. The people are wising up fast to his lies, and they are also wising up to the fact that all these problems aren't due to something beyond his control. He knowingly and willingly lies, cheats and steals to get what he wants. People don't like that.

lacarnut
08-10-2011, 02:59 AM
I'm not exactly the Nostradamus of politics, but Obama is going to leave a stain on the Democratic party for a good long time. The people are wising up fast to his lies, and they are also wising up to the fact that all these problems aren't due to something beyond his control. He knowingly and willingly lies, cheats and steals to get what he wants. People don't like that.

Very true. My hope is that we wind up with a strong conservative candidate for the Presidency that will point out Obama's policies and lies and not sugar coat it like McCain did.

malloc
08-10-2011, 03:29 AM
Oh, and the media smear campaign ain't working. Slowly but surely people are realizing Obama has no clothes:

29% Say Tea Party Members Are Terrorists, 55% Disagree (http://www.rasmussenreports.com/public_content/politics/general_politics/august_2011/29_say_tea_party_members_are_terrorists_55_disagre e)

marv
08-10-2011, 08:21 AM
Let the 2012 Blame Games begin...[trumpet_sounds]...

http://iowntheworld.com/blog/wp-content/uploads/2011/08/gas-500x438.jpg

http://iowntheworld.com/blog/wp-content/uploads/2011/08/Untitled-1.jpg


http://www.conservativeunderground.com/forum505/images/smilies/popcorn.gif

Odysseus
08-10-2011, 02:12 PM
Let the 2012 Blame Games begin...[trumpet_sounds]...

http://iowntheworld.com/blog/wp-content/uploads/2011/08/gas-500x438.jpg

http://iowntheworld.com/blog/wp-content/uploads/2011/08/Untitled-1.jpg


http://www.conservativeunderground.com/forum505/images/smilies/popcorn.gif

I am so using that. :D :applause::smileyworship: