U.S. credit rating downgraded....THANKS POLITICIANS!

[Salty1]

I still do not understand why anybody would argue with a liberal regarding politics, it is in their DNA to always place blame and attack others regardless of the facts, they will accept no responsibility for their actions unless they are positive. Frank and Dood have escaped blame for their Fanny and Freddie fiasco which pushed a fragile economy way over the edge. I wonder if their is actually a mirror in the White House.

Watch the 2012 election as a point of fact, the Dem's will show no mercy on who thet attack and the slander they spew. Obama has no positive record to run on, Bin Laden will only go so far. With the Democrats calling the Tea Party "terrorists" they are looking for a confrontation which will backfire on them, the silent majority has been woken and they will speak with their votes as we saw in the last election. This is not good news for the left so expect the attacks to commence anytime now.

Our debt is a major issue and could lead to a partial collapse of our economy and the "takers" will be the first affected, the inner cities will pay a hefty price with violence. The economy must turn around before this happens and debt control is mandatory, hopefully Obama will not go forward with his comments regarding another stimulas plan, he has already paid off the unions and special interest groups with his last one that produced no results except additional and unecessary debt. We are still waiting for the "Shovel Ready" jobs.

Personally I feel that a Balanced Budget Amendment coupled with Term Limits and securing our borders would be a great place to start, career politicians are part of the problems not the solution...............

[Beiruty]

First place to cut:

In 2009, there were large variations in how much OECD countries spent on health and the health spending share of GDP. The United States continued to outspend all other OECD countries by a wide margin, with spending on health per capita of $7960. This was two-and-a-half times more than the OECD average of $3223.

As a share of GDP, the United States spent 17.4% on health in 2009, 5 percentage points more than in the next two countries, the Netherlands and France (which allocated 12.0% and 11.8% of their GDP on health). Norway and Switzerland were the next biggest spenders on health per capita, with spending of more than $5000 per capita in 2009.

http://www.oecd.org/document/38/0,3746, ... _1,00.html" onclick="window.open(this.href);return false;


Social Security:



source: http://www.oecd.org/document/9/0,3746,e ... _1,00.html" onclick="window.open(this.href);return false;

[chasfm11]

http://www.foxbusiness.com/markets/2011 ... nd-double/
By Elizabeth MacDonald

Published August 06, 2011

And Chambers confirmed that $4 trillion in cuts over ten years was a sticking point. The U.S. Congress recently agreed to $917 billion in deficit reductions. S&P's new double-A threat puts pressure on the new 12-member bipartisan committee to slash the 10-year deficit by another $1.5 trillion come November. If they fail, if Congress rejects or the President vetoes, spending would be cut an automatic $1.2 trillion, including 2% reductions to Medicare providers.

If you get to $4 trillion mentioned by the President in an April 13 speech, by the Bowles-Simpson commission and by Congressman Paul Ryan, that along with economic growth would’ve done the trick” to preserve the triple-A, he told Cavuto

But you listen to John Kerry and it is all the Tea Party's fault. Denial of the facts is the reason that the problem was created in the first place and the reason that it is being perpetuated.

[Beiruty]

At this time, anyone who blame anyone, is really irresponsible. It is now time to bring on Balanced budget plan, by 2013 or 2015. As long as there is a credible plan the market would rally higher and the economy will start working again. Otherwise, who will foreclose the USA Assets?

[Beiruty]

Canada model:

And he says, based on information from Canada’s Department of Finance, that the loss of the Triple-A rating “might be a blessing in disguise.”
Canada lost its Triple-A in 1994. Canada then embarked on an aggressive, long-term plan to balance its budget. It then moved into annual budget surplus by 1997and regained its Triple-A rating, Greenhaus says.

Read more: http://www.foxbusiness.com/markets/2011 ... z1UOELPCn9" onclick="window.open(this.href);return false;

[baldeagle]

Worry about Europe not US.

Greenspan, US can print money to pay debt.

"This is not an issue of credit rating. The United States can pay any debt it has because it can always print money to do that. There's zero probability of default," he said. "What I think the S&P (downgrade) did was to hit a nerve. ... It's hit the self-esteem of the United States, the psyche. And it's having a much profounder effect than I conceived could happen."

http://www.reuters.com/article/2011/08/ ... XF20110807" onclick="window.open(this.href);return false;

This is the kind of asinine thinking that is destroying our nation. Of course we can always print money. It's just that there's this little side effect; inflation. So, Congress keeps spending, the Fed keeps printing and you and I and the millions of other Americans who don't own printing presses keep losing. Our savings are worth less. Our retirement is worth less. Our salaries are worth less. But hey, the US won't default.

Can we please get rid of these morons and find some people who have at least a tenuous connection with reality?

[sjfcontrol]

Worry about Europe not US.

Greenspan, US can print money to pay debt.

"This is not an issue of credit rating. The United States can pay any debt it has because it can always print money to do that. There's zero probability of default," he said. "What I think the S&P (downgrade) did was to hit a nerve. ... It's hit the self-esteem of the United States, the psyche. And it's having a much profounder effect than I conceived could happen."

http://www.reuters.com/article/2011/08/ ... XF20110807" onclick="window.open(this.href);return false;

This is the kind of asinine thinking that is destroying our nation. Of course we can always print money. It's just that there's this little side effect; inflation. So, Congress keeps spending, the Fed keeps printing and you and I and the millions of other Americans who don't own printing presses keep losing. Our savings are worth less. Our retirement is worth less. Our salaries are worth less. But hey, the US won't default.

Can we please get rid of these morons and find some people who have at least a tenuous connection with reality?

Not to be argumentative, and correct me if I'm wrong -- BUT -- inflation doesn't seem to be a part of the current problem. Currently running about 3.5%, and was negative as recently as 2009. We certainly are NOT experiencing the hyper-inflation as seen in pre-war Germany, for example...

I'm not saying it won't follow, but currently it's a non-issue.

http://www.fintrend.com/inflation/infla ... lation.asp" onclick="window.open(this.href);return false;

[mr surveyor]

it seems to me that if you consider just food, fuel and insurance cost increases the last couple of years the average American might just disagree with the concept that there is currently no inflation. Oh, and the increase in credit card interest rates in the last 12 months is another indicator to consider.

[bnc]

The inflation has already occurred - the amount of money in existence has been exploded over the last few years. Increasing prices, the symptom of inflation, has not occurred to an equivalent extent (it has happened some though) due to the vast uncertainty in our economy. Everyone who has money, from simple folks who spend less than they make to the big banksters who got trillions in bailouts, are all just sitting on the cash. Nobody is willing to take on the risk in the market, so we wait. This means the trillions of new dollars, while in existence, have not had their impact on prices because they aren't being used to bid for goods and services.

One thing that I think will happen, and will be tragic and used by those in power for exactly the wrong reasons, is that once the uncertainty is reduced, perhaps by electing a new administration, all of that new money will come flooding into the market. Then we will see a massive increase in all prices, and those who were not invested in precious metals, oil/gas, food, and other real commodities will be left with plenty of money and no buying power. Then it won't matter how hard you work or how much you save because your money will be worth very little.

[bnc]

it seems to me that if you consider just food, fuel and insurance cost increases the last couple of years the average American might just disagree with the concept that there is currently no inflation. Oh, and the increase in credit card interest rates in the last 12 months is another indicator to consider.

Our government, sometime in the last few years (don't remember exactly) removed food and energy costs from the Consumer Price Index calculations to try to hide the fact that they destroyed our currency and our economy.

[warhorse10_9]

I just wish a balance approach was taken by Washington. You cant fix everything by just cutting spending which is what many Republicans want. Taxes need to be raised too, mainly end the Bush tax cuts. Until both sides can actually compromise, the problem will remain. The problem is both side's fault, not one or the other.

[sjfcontrol]

I just wish a balance approach was taken by Washington. You cant fix everything by just cutting spending which is what many Republicans want. Taxes need to be raised too, mainly end the Bush tax cuts. Until both sides can actually compromise, the problem will remain. The problem is both side's fault, not one or the other.

Ahh, blame Bush. It's all his fault because he increased the income to the treasury by cutting taxes...

I was discussing this with my Financial Advisors this week. We decided that if we DO go into a double-dip recession, Obama would HAVE to own it. Unless, of course, you'd like to credit Bush with the phenomenal recovery in the stock market over the last three years.

[rm9792]

I just wish a balance approach was taken by Washington. You cant fix everything by just cutting spending which is what many Republicans want. Taxes need to be raised too, mainly end the Bush tax cuts. Until both sides can actually compromise, the problem will remain. The problem is both side's fault, not one or the other.

You have got to be kidding! Taxes are already ridicuously high. Add up all the taxes you pay and I bet it will shock you. I pay over 60% of my income in state, local and federal taxes. Govt has to cut spending period. There are way too many entitlement programs, waste, aid to countries that hate us, overemployment in govt, etc. You are wrong, cutting spending drastically is the way to go. The Bush tax cuts are not the problem, people like you who want to spend more are the problem. I am not a Repug or a democrat so there is no party line to tow here.

[G26ster]

I just wish a balance approach was taken by Washington. You cant fix everything by just cutting spending which is what many Republicans want. Taxes need to be raised too, mainly end the Bush tax cuts. Until both sides can actually compromise, the problem will remain. The problem is both side's fault, not one or the other.

Who's taxes do you wish to raise? The taxes of those who have been paying the top tax rates to support this county, or the taxes of the nearly 50% of American families that pay zero federal taxes? And please don't tell me they can't afford to pay anything. Our forefathers used the phrase "no taxation without representation." Now we have an entitlement society of "Representation without taxation." Just like the video posted in this thread, you can grab 100% of the income of every corporation and person making significant money, and it wouldn't mean didley. Who then will employ the rest of us when we have put them out of business? Our problem is not short term expenses/income, it's long tern debt through entitlements that are going to bankrupt us. That's the issue the conservatives want addressed. Stop spending now, and reform the entitlement programs so they will survive and not bankrupt us. What Congress is doing now will solve nothing in the short or long term.

[Texas Dan Mosby]

You cant fix everything by just cutting spending which is what many Republicans want. Taxes need to be raised too, mainly end the Bush tax cuts.

Why should ANY tax-paying American citizen (Note: tax-paying is key here...) even REMOTELY consider giving MORE money to a government that has mismanaged and WASTED the money they have already been given?

They SHOULDN'T, and EVERY tax-paying American citizen should be insulted and straight up ANGRY at the mention of HIGHER taxes being used as a solution. It's NOT. MORE money will do nothing but allow those dirt bags in congress, and the communist in the white house, to WASTE more of OUR money.

Spending cuts across the board need to be implemented. Period.

Our tax dollars SHOULD be used to provide goods or services for ALL American citizens. PERIOD. Defense, law enforcement, infrastructure, etc... NOT cell phones for "the poor", mandated "health care", housing subsidies, food subsidies, contraceptives, etc...

When our government uses it's power to steal OUR money simply to give to "select" individuals who have provided NO goods OR services to our nation, it's not only wrong, but unconstitutional, and far beyond the scope of the federal government.

Until both sides can actually compromise, the problem will remain.

The problem is both side's fault, not one or the other.

Agree. Far too many worthless oxygen thieves in politics that need to get out and make way for people who actually care about their nation and culture.