I am surprised no one mentioned the remarkably bright move the tea party brought to America,
I know it is Obama's fault Don't you think it coincidental that congress threatens not to pay America's bills and the Creditors raise ALL OUR Rates , fucking great
I am surprised no one mentioned the remarkably bright move the tea party brought to America,
(Where are those little "popcorn-eating" Emoticons when you need them?)
I think a like button would be good
Enjoyed John Podhoretz's assessment of the whole US credit downgrading affair.
"The U.S. Is Downgraded, and Obama Will Be Too"
This is a terrible day. For the first time, the creditworthiness of the United States has been called into question by an independent entity, Standard and Poor?s, which has downgraded the country?s credit rating from AAA to AA+. Its statement features this terrifying phrase: ?The political brinksmanship of recent months highlights what we see as America?s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed.? S&P assigns blame to all players, and by seeing a ?negative outlook? down the road, is saying it expects to downgrade to a simple AA within two years.
The Left will and is already blaming the Tea Party and Republicans. The Right will and is blaming the growth of the federal debt and the refusal to deal with the unsustainable path created by the entitlement programs. This is a grinding battle that will lead to an intellectual and ideological stalemate. There?s truth to the Leftist charge that the conservative Republican decision to use the debt ceiling fight as leverage to force a cut in the national debt at a particularly risky time was unsound. But that is nothing next to the liberal fantasy that the U.S. can stay on its current course?the most destructive notion in present-day politics.
But the ideological stalemate does not mean the political fallout will be evenly distributed. This is a colossal disaster for Barack Obama, and anybody who says otherwise is kidding himself or trying to spin you. We know that the election of 2012 is going to be fought on jobs, the economy, and the wisdom of health care. But now the GOP has an overarching theme that I predict will be at the core of a $500 million advertising campaign: ?America needs its good name back.?
No, it's not a coincidence. The big, bad, scary savings weren't big, bad, and scary enough, despite the weeping, wailing, and gnashing of teeth. Having seen how bat crap crazy we get, without even cutting and reforming entitlements, they know we're still kicking the can down the road. We live in a democratic gerontocracy. And we fear them. We fear the hell out of them. And, it's probably going to cost us a lot more pain, before something get's done.
Hmmm, did you somehow miss the that the part about the recent astronomical spending with out enough capitol to cover it as being a rather large culprit? The S&P says we're about 2.1 trillion bucks from where we need to be in recovering debt.....That coincides rather remarkably with the amount of extra capitol spent on failed programs in '09 and 10.
Oh pitgirl there you go again...Obama had many chances to set a budget. So a president who controls the senate and the Executive branch is weak. Were there may be only 80 congressman who are tea party members who are in place.
How about we do not raise our damn credit limit and spend within our means. Like cut back unnecessary welfare and reform the immigration system. Is it coincidental that he is the first president for this too happen too as well? Maybe they see his policies and ideology.
Yet he has had power for about 3 yrs and yet he cannot grab his small ball and assume responsibility.
And now John Kerry is calling it the 'Tea Party downgrade'.
What an arse. The Tea Party was just the interventionist...born out of necessity to derail Washington's outta control addictive spending train.
Things are pretty shitty now, and may get worse. But I gotta believe the US will come out of this much better and stronger. Like anyone who irresponsibly runs up their credit cards, the only thing to do is cut the cards up, put your head down and pay the mf'er off. And hope that the pain and embarrassment was enough to keep it from happening again.
And they got as far as they did not because of so-called extortion.
They got as far as they did because 'RIGHT IS MIGHT'. Big difference.
Oh yeah sweet revenge its amazing how they love the minorities when it placates to there beliefs, but how could a small little tea party ruin the nation. Wait till 2012 my friends. When I go to a tea party meeting they think Im a mole because I do not fit the rich white guy stereotype just like pitgirl says. The truth is right and might.
Oh and dont forget the vice president thinks us tea party guys are terrorists as well.
Now add servicing the debt:
"Then, as the Baby Boomers start to retire and health care costs continue to rise, the situation will get even worse. By 2025, the amount of taxes we currently pay will only be enough to finance our health care programs, Social Security, and the interest we owe on our debt. That's it. Every other national priority-education, transportation, even national security-will have to be paid for with borrowed money."
President Obama, speaking at George Washington University
Having seen Obama at least speak to just how quickly this crisis is approaching, let's put it into perspective. Note, 2025 and 2020, just a 5 year difference from Obama's speech. So let's no go hysterical that it's from NRO.
"Otherwise, by 2020 just the interest payments on the debt will be larger than the U.S. military budget. That's not paying down the debt, but merely staying current on the servicing--like when you get your MasterCard statement and you can't afford to pay off any of what you borrowed but you can just about cover the monthly interest charge. Except in this case the interest charge for U.S. taxpayers will be greater than the military budgets of China, Britain, France, Russia, Japan, Germany, Saudi Arabia, India, Italy, South Korea, Brazil, Canada, Australia, Spain, Turkey, and Israel combined.
When interest payments consume about 20 percent of federal revenues, that means a fifth of your taxes are entirely wasted. Pious celebrities often simper that they?d be willing to pay more in taxes for better government services. But a fifth of what you pay won?t be going to government services at all, unless by "government services" you mean the People's Liberation Army of China, which will be entirely funded by U.S. taxpayers by about 2015."
And just because this demonstrates how "tough" this spending "cut" bill was...
"Under the "historic resolution" of the debt crisis (and don't those very words "debt crisis" already feel so last week?), America will be cutting federal spending by $900 billion over ten years. "Cutting federal spending by $900 billion over ten years" is Washington-speak for increasing federal spending by $7 trillion over ten years. And, as they'd originally planned to increase it by eight trillion, that counts as a cut. If they'd planned to increase it by $20 trillion and then settled for merely $15 trillion, they could have saved five trillion. See how easy this is?
As part of this historic "cut," we've now raised the "debt ceiling"--or, more accurately, lowered the debt abyss. Do you ever discuss the debt with your neighbor? Do you think he has any serious intention to repay the 15 trillion racked up in his and your name? Does your congressman? Does your senator? Look into their eyes. You can see the answer. And, if none of these parties seem inclined to pay down the debt now, what are the chances they'll feel like doing so by 2020 when, under these historic "cuts," it's up to 23-25 trillion?"
And here's more blame for the Tea Party:
(CNN) - President Barack Obama's chief re-election strategist on Sunday blamed Standard & Poor's downgrade of the United States' credit rating on tea party conservatives who made raising the federal debt ceiling a political issue.
'This is essentially a tea party downgrade,' David Axelrod told the CBS program 'Face the Nation.' 'The tea party brought us to the brink of a default.' END
These guys really have their heads you-know-where. As if everything would have been A-OK if they had been allowed to raise the ceiling and continue spending as usual.
Considering that said 'Tea Party' does not hold an elected seat any where in the country, this sounds really stupid.
The down grade is really super simple, an astronomical amount of debt, not enough money to pay for it.
Between Jan 2000 and Dec 2008, the debt went up 4.8 Trillion dollars. Between jan 2009 and aug 2011, the debt went up 3.9 trillion. Are we still unclear as to the problem? Obama ran up 3.9 trillion dollars in 2 years and 8 months. It took Bush 7 years and 9 months to do the same. The remain 3 months included TARP...
Now the interesting thing about the 2009 to current, included TARP being paid back!
Look at it for yourself:
You have to be six ways of stupid not to see the problem. Tea Party, who holds no seats, my hairy ass.
They spent like a drunk sailor in a whore house, the stimulus failed and the economy in the toilet. Change? You better fucking believe it. All bad too.
What makes matters worse is as more and more people don't have jobs or are working part time jobs that would normally be working full-time jobs, tax revenues decrease accelerating the pace at which we approach situations where all our revenue simply goes towards health care. The figures they cite are usually based on projected growth numbers which are laughably optimistic.
Let's be clear...Global Warming, traffic, my stomach issues, the ingrown hair in my nostril, and my iPod crapping out on me during my workouts are ALL because of the Tea Party.
What if China decides to stop lending us money, would that also be the Tea Party's fault ?
Pitt, I would also ask this of Axelrod as well, Obama spent the first 15 months of his presidency whoring out his Health Care Law. In that time, he could been pursuing things more relevant to our current interests, like jobs and debt.
If Chris Christie wasn't so fat, I would wager that he could beat Obama, but the people would never vote for such a large man. But then again, the people voted for a black man from Chicago too, so never say never.
Should Geithner go ? Should Obama show him the door ?
Trust me when I tell you, I doubt Christie will be reelected governor. He's pissed off too many people. New Jersey (I'm assuming not too different than Cali) has a lot of people that receive money from the state. He came in saying he would make cuts. As he does that people are getting angry because no one wants their own programs cut.