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Thread: Downgrade

  1. #1

  2. #2

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    Quote Originally Posted by jimbob64 View Post
    S&P downgraded the US to AA+, what say you?
    It's been in the post: look at the history of US budgets and legislation from both parties - Americans have enjoyed having a lot of money spent on themselves and been unwilling to pay the taxes to match it. The time to get angry about this was during the pre-crash era when there was a budget deficit in times of strong growth, but as so often in politics no one wants to deal with a problem, they wait until it becomes a catastrophe - and now it's going to be painful waiting for those broken bones to heal.

    Now with graph!

    http://www.usgovernmentspending.com/...olor=c&local=s

    btw - where did you get that Thomas Jefferson quote in your sig? apparently it's not his The Writings of Thomas Jefferson-Truth! & Unproven!
    In any case: he's one to talk - he owned other people to do all his hard work...
    Last edited by MsClara; 06-Aug-2011 at 03:26.

  3. #3
    Butterfly Mage

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    Thanks a bunch, Teabags!

  4. #4

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    I first saw the quote on a bumper sticker, then I looked it up on the internet and found it again, and I guessed that S&P probably would downgrade us because they were a couple of days later than the other agencies giving us a AAA and they seemed to be the only one who would own up to not liking the deal, especially when the only time I've seen people support it is because we avoided default.

    ---------- Post added at 22:19 ---------- Previous post was at 22:17 ----------



    Quote Originally Posted by Butterfly Mage View Post
    Thanks a bunch, Teabags!
    Thank you for shifting all blame to a political party you disagree with, may I ask do you plan on running in '12?

  5. #5

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    Well the debt deal clearly worked, and even if it had. Then shit on the markets in Europe seemingly came over to america. In any case i'm not surprised that shit is still failing. I guess thats what trillions of dollars of debt while only adding more and more on does to your countries finical ranking.

    Odd the same shit happens to people who have tons of personal debt too. Very odd indeed, I mean it just doesn't make sense.

    1. rack up debt
    2. keep racking up debt while promising to pay it off
    3. rack up the debt more
    4. Keep doing it
    5. Act shocked that your credit rating is now worse.

  6. #6

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    We deserved it. Maybe this will serve as a better wake-up call to our congressmen.

  7. #7

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    Quote Originally Posted by Fire2box View Post
    Well the debt deal clearly worked, and even if it had. Then shit on the markets in Europe seemingly came over to america. In any case i'm not surprised that shit is still failing. I guess thats what trillions of dollars of debt while only adding more and more on does to your countries finical ranking.

    Odd the same shit happens to people who have tons of personal debt too. Very odd indeed, I mean it just doesn't make sense.

    1. rack up debt
    2. keep racking up debt while promising to pay it off
    3. rack up the debt more
    4. Keep doing it
    5. Act shocked that your credit rating is now worse.
    I'd like to coin my signature quote at times like these "Welcome to America"

  8. #8

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    I found a old video of what seems to be members of congress and senate conditioning themselves to not feel America's pain and actually losing all sense of self control.




    (Fine it's animal house, but it seems accurate enough.)




    Quote Originally Posted by jimbob64 View Post
    Thank you for shifting all blame to a political party you disagree with, may I ask do you plan on running in '12?
    Mage is kinda right. Seemingly most of the tea partiers, new comers voted no on the debt deal that passed despite no new income and about a trillion dollars in cuts. The older members of congress, senate pretty much admitted they had to pass something and took pretty much what was being forced fed to them from republicans and members of the 'tea party". Who in the end just made themselves look like idiots. not that one needed any help.



    (Also CNN does seem to be the most fair network and with don lemon, they are actually starting to get a bit entertaining too.)

  9. #9

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    [QUOTE=Fire2box;709091
    Odd the same shit happens to people who have tons of personal debt too. Very odd indeed, I mean it just doesn't make sense.
    [/QUOTE]

    ouch! I think the sarcasm bit me ;-)

    Well politicians are people too (not that they like to show it) so not surprising they make the same mistakes the rest of us do. It may not be a co-incidence that after the mid 1970s when real value of most US wages stopped growing and people started buying their increased prosperity with credit cards and mortgages, from 1980 to the 1990s the federal government was consistently adding to the national debt...

  10. #10

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    Quote Originally Posted by Fire2box View Post
    Seemingly most of the tea partiers, new comers voted no on the debt deal that passed despite no new income and about a trillion dollars in cuts.
    I can see two problems with that, their entire campaign was based off of not caving in at all and that the credit agencies specifically S&P said they wanted 4 trillion in cuts not 1.something and a "Super Committee"

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