Published: Thursday, Aug. 11 2011 12:00 a.m. MDT
If you were to actually read S&P's report, they mention our inability to
raise revenues on several occasion as one of the leading factors in their
decision. Countries that spend far more than we do still have their AAA rating.
It is the imbalance between revenue and spending that is the problem, not just
No, the tea party dug in their heels and said "don't pay the bills that we
have already accrued" leaving contractors, employees, beneficiaries, and
everyone else who does business with the federal government high and dry. Is
that the sensible approach you are talking about?
S&P didn't tell anyone to reduce spending. They said they were worried about
instability of our government. You know what countries have AAA
ratings? Socialist countries like Canada, Denmark, France, England and Norway.
Yep, all of those socialists in Europe pretty much the more socialist they are
the higher thier rating.And no, Greece is is trouble because it's
banks gambled with the people's money and lost, not because of social programs.
Blaming the tea party for our economic problems is like blaming the guy who
called 911 to report a fire for the fire! The tea party only warned politicians
on both sides what will happen if THEY (politicians) don't stop their out of
control spending! Now we have these same politicians pointing their fingers at
everyone except themselves for the problems, they caused!
"Correct so far?"Not entirely. Another reason S&P
cited for the downgrade was the political brinksmanship in Congress and its
inability to effectively govern. A good portion of that blame can be laid at the
feet of conservative ideologues such as Eric Cantor, who walked out of meetings
if he didn't get his way. Wouldn't even consider closing unethical corporate
loopholes unless taxes were lowered elsewhere. Maybe some of you
believe that is "principled", but to me it is childish, dangerous, and
a sure sign of poor leadership. Apparently S&P wasn't too impressed with it
either. So Mr. Smurthwaite can pick and choose his facts to make it
seem like this is all the tax-and-spend liberal's fault, but the actual truth is
that American society itself has built this problem and that both conservative
and liberal politicians cater to it. And both conservatives and liberals are
going to have to compromise to find a long term solution. The Tea Party hasn't
gotten that message yet.
Wrong, the downgrade was solely because the downgrade was not meaningful and the
tea party prevented a meaningful solution. 4 trillion with a third cuts and a
third revenue increases was deemed meaningful. Three times in the notice from
S&P they said the downgrade was because the two parties could not work
together. Even McConnell said you couldn't get to 4 trillion without revenue
increases, and who blocked all revenue increases? Tea Party downgrade pure and
The tea party was right to insist we live within our budget.The tea
party was wrong to insist that the poor and middle class bare all the burden for
doing so.And that was the rub.
Nice try, Richard, but your facts are wrong from the beginning. If you want to
balance the budget, everyone agrees it will take not just cuts, but increased
revenue. I wonder how Mike Lee explains his votes for more spending on wasteful
programs. He doesn't, only doing the will of rich special interests in
Washington. Then he turns around and wants to cut programs that help the least
of our society, calling for caps that have exemptions for the same wasteful
spending he supports. Can't you see the hypocrisy and madness of the tea party
Ok let's try to forget that S&P rated 14 trillion of soon to be toxic debts
that would tank the world economy and exasterbate the federal deficit as AAA
from 2003 to 2008. Since it was the federal government that ended up BUYING
those toxic loans....Let's try to forget they rated Leemon Brothers
as AAA right up until thier bankruptcy. I'll try to forget that nobody from Wall
Street or S&P went to jail for tanking the economy....The
S&P statement was entirly political about political issues, not about our
ability to pay our debts. It may have something to do with the S&P being led
by conservatives like McGraw Hill. Let's forget that the S&P is
being investigated in other countries for it's mob ties......The Tea
Party did do this. They cheered the downgrade even. Congradulations.
This spin will not work. The President was attempting a timely and balanced
solution in light of the economy. The tea party people announced that the plan
claiming a debt downgrade was no big deal. The large balanced reduction was
boycotted into a small divisive problem by the dogmatic unilateral approach of
the tea party. This minority uprising was planned since January based upon a
Limbaugh attempt to get the President irregardless of the consequences. Noe you
have the consequences.
You may not have seen McCain go balistic on the Tea Party. Was that glossed over
on Faux News?McCain wont apologize for calling tea partiers
hobbitsAt the the height of the debt ceiling battle last month,
McCain read a Wall Street Journal editorial aloud on the Senate floor that
slammed tea party-backed Republicans and called them "hobbits" for
demanding a balanced-budget amendment to the Constitution in return for their
votes to raise the debt ceiling. McCain : "What I said was
true. It's unrealistic and unfair to the American people to tell them that we
have to pass a balanced-budget amendment to the Constitution before we would
act. If anyone misunderstood that then of course I would apologize. ... But it's
not my fault if they misunderstood. ...
To Counter Intelligence | 6:51 a.m. Aug. 11, 2011 And this is even
more true:Far right wing policies are a disasterTherefore anyone who
notices must be vilified if they are to remain in powerWhat they
dont seem to understand is that the more hysterical they get, the more obvious
the failure becomes.
RandEric Cantor had had enough of this president and his unrelenting
desire to bring down America. Who can blame him when one looks at the way he
was raised, the people who have influenced him all his life. Its a wonder he is
even able to get up in the morning. BTW, didn't the 'anointed one' walk out of
another meeting before Cantor? why did you fail to mention that?
It's ironic that Senator Kerry, who has been in Congress for decades, blames
this debt mess that has been building for decades, on the Tea Party influence
that is barely two years old.
John Chambers, the head of sovereign ratings at S&P, told CNN that the
political brinkmanship over the debt ceiling proved to be a key issue, with
"the U.S. government getting to the last day before they had
cash-management problems." It wasn't the Democrats who forced
this issue to the last day. It wasn't the Democrats that threatened default.
This was regarding a budget Congress had already approved. Using default as a
bargaining chip was the Tea Party Republican's business.
We are still IN the FAILURE of right wing policies goldfish. "Hi my name's
Dora. Have we met?"The right wing strategy is to take advantage
of short memories and team worship mentalities to blame someone else for thier
The Down-grade can be blamed on the Tea Party because:1. Refusing to
Compromise [Something required in Non-Totalitarian regimes].2.
Showing the World that Congress is out of control by making their own
Congressional leader [Speaker John Boehner] look like a fool.3.
Holding America hostage - Demanding they get their way, or commit National
suicide.4. Refusing to increase revenues by dropping stupid tax
breaks on the Uber-Rich and Wealthy [who could still get those tax breaks - if
only they re-invested their income back into the economy or grew their
businesses.]I could go on, and on....but jumping up and down - even
claiming "Victory!" in the Federal Budget debates -- and then when
reality kicks in and things turn negative, so they turn right around denying
they were they cause of the down grade is completely ridiculous!Denialism - (remember the Birthers)The trademark of the Tea Party.
Even though I shouldn't be, I'm still amazed at the letters to this newspaper
that evidence such an appalling lack of understanding of economics. Of course,
the Tea Party program for destroying the country can't even be called economics.
It's really just bad arithmetic. There is no way on earth we can balance our
budget by only cutting spending. What, Richard, are we going to cut to shave
over a trillion dollars from our annual spending?But let me see if I
understand this correctly. We can't afford to close corporate tax loopholes when
profits have been at record levels, even in the midst of the "Great
Recession." We can't afford to tax the super-rich, even when CEO pay went
up 23 percent from 2009 to 2010. We can't raise tax rates when Warren Buffett's
tax rate is lower than the cleaning lady's. We can't afford to raise taxes when
a hedge fund manager's take-home pay was $5 billion last year, and he's not a
"job creator." What the Tea Party does not understand is
that their movement is not very original or independent. It is simply another
program that benefits large corporations and Wall Street.
Tough fighting a backlash started by tea party advocates with old spin.
"The first thing lawmakers could have done is to have raised the debt
ceiling in a timely manner so that much of this debate had been avoided to begin
with, as it had done 60 or 70 times since 1960 without that much debate,"
said John Chambers, the head of sovereign ratings at S&P.S&P
had already said they wanted to see at least a 4 trillion dollar deal for the
next 10 years. [Which the Deomcrats proposed]But, those same Tea Party
members blamed for the fighting were fighting for a much larger cuts. They
wanted to cut much deeper into federal spending and reform entitlement programs.
[i.e., Going for broke].President Obama also wanted a larger
deal that would have included tax increases only on the wealthiest of Americans,
which Standard and Poors would have supported as well, but once again, those
same Tea Party Republican refused to compromise....Yes,
we can clearly blame the Tea Partiers - based on the S&P themselves.(Source...ironically - FoxNews)
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