“Never let a crisis go to waste!”

In fact, the S&P report did call out politics as part of the reason
behind the downgrade, but appeared to single out the GOP’s resistance to
any measure to raise revenues.

Funny, your quote doesn’t say that. Maybe that’s because S&P didn’t either. What that quote provides is a reason for changing ONE assumption, not the reason for the downgrade. This quote from the report does that:

We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

Hack much?

As long as the Dems are unwilling to move on their idea that Medicare and SS are untouchable we will be insolvent and unsustainable. The intransigent position of the hard left of the Dem party has led us to down this road to ruin. Everything the President has done since elected has made this problem worse. He has thrown good money after bad and lost it all. We are going to be Greece in our my lifetime if we keep following the Dems and their Keynesian plans. We can’t get our money back that Obama and the dems wasted but we can learn a lesson from the horrendous mistakes they have made over the last 5 years (Dems won the house and senate in the last 2 years of Bush remember).
S&P DID make a 2 trillion error in the downgrade… but the downgrade was coming no matter the mathematical miscalculation. And as long as the Dems, Obama, liberals, progressives, and the MSM see tax hicks as the only answer there is NO moving forward. I’m willing to see taxes increased on the rich but not till the left PROVES they can cut what they have created. And not some little paper cut like we just saw. Real meaningful cuts that make our country more sustainable.

Aug 13th is a big day in Iowa…

 “political theater to build up the fear.”
Congress needs a little fear. When the government starts paying for cell phones for the poor, there needs to be a limit to put on the ridiculous spending.

What if a bunch of wealthy and powerful men/women, worldwide, are hoping to influence the presidential election, with this downgrade? The rich and powerful in America, and abroad,  have expressed their collective concern for Obama’s economic policies, for over a year now. Ideology goes flying right out the window, when you mess with the rich and powerful and their stash. JMO, of course.

  @tatboy:disqus : 

One cannot blame the Dems without blaming the old guard Republicans for just as much damage. George W. led our way into spending oblivion. Without us getting a new face to either the Republican and Democratic party we are doomed. Voting for Obama was just a vote for 4 more years of Bush.

Dr. Paul is the most principled candidate we have running. He is consistent in voting and has had success inside and outside of politics.

From above: “We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues”, MEANS that they are on the democrat side of RAISING TAXES which they call revenue to the government now. Lowering taxes truly raises revenue because people spend more.

From above: “We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues”, MEANS that they are on the democrat side of RAISING TAXES which they call revenue to the government now. Lowering taxes truly raises revenue because people spend more.

If you want to blame old guard Repubs as much I have no argument with that. They were asleep at the switch while Rome burned as much as the left. The left lite the match and the right fanned the flames.

No, it means they changed an assumption. The reason they downgraded us are ^^right there^^ just after where they said “We lowered our long-term rating on the U.S. because…”

BTW, there are ways to increase revenue without raising tax rates. They’re often used synonymously these days, but they’re not.

Yup. And then we elected Captain Gas Can.

Teaparty downgrade = Term du jour for the incompetent 

I have no idea why Colby posted this article today, since he links to a Bloomberg phone interview with Ron Paul from sometime in July.

I guess he saw it as an opportunity to post a few Democratic talking points about future taxes.

He didn’t link to this, however, from the S&P report: “Standard & Poor’s takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.’s finances on a sustainable footing.”

There has only been one major change in the federal government over the last few months.  Teapublicans – and as a result of their continued blackmail of our federal government the have sucessfully gotten a downgrade in the nations credit rating.  They are on track to ruin our economy; after all Bush didn’t finish the job.

I’m with you on this, and I understand the assumption quote. Simply put, the ratings services are trying to influence politics, and we get tied around trying to figure out which political party gets the “benefit” of the influence. Bottom line, they are towing the line for higher taxes, they want America run like the rest of the non-free world, and they want to influence how it is run. We, the taxpayers, lose but lately, we are in danger of losing everything, including the Country.

The republicans continued to resist raising the debt limit and taxes in favor of spending limits, a balanced budget, etc. Moodys et al threatened us, just like obama threatened seniors and vets. Words mean things.

yeah, he’s a consistent quack

Regardless of the reason, Obama deserves the blame. He should
have raised the debt ceiling when he had a super majority. Many good democrats
lost their seats last year to support Obama’s healthcare plan that should have
included a public option which the majority of Americans wanted. He wasted time
trying to compromise when he did not have to compromise. Obama did not defend
the bill as he should have to help his fellow democrats. Obama is too much of a
politician for me. Bush was a leader not a politician, an incompetent leader but
a leader. Bush rarely made decisions based on politics.

So by the Clinton administration leaving a surplus and paying down on the national debt that was lighting the match; and then Bush gave back the surplus in tax credits that benefited the rich more than anyone else started two wars that were not funded, created a failed medicare part D program, took foriegn positions that cause our allies to dislike us and committed war crimes in the style of torture.  Exactly when did the democrats light that flame?

I think we should remember that Obama has never had it easy.  Republicans obstructed, fillibustered and blocked every measure, goal, proposal and bill that the Obama administration has ever endorsed.  Including those that were drafted by republicans themselves.  Then there were the Blue Dogs like Blanch Lincoln that sided with republicans more than she sided with her own party.  Obama has never enjoyed the go along congress that Bush enjoy while in the processs of ruining our economy.

http://www.youtube.com/watch?v=XchwE9zVdnw

True

Absolutely right. Also, if there is no real crisis, manufacture one, and demagogue it to death.

If nothing else, Ron Paul does an excellent job of making you take pause to double check your premises. He is invaluable in that respect alone.

Who had control of congress then?
http://articles.latimes.com/1993-04-21/news/mn-25503_1_stimulus-package
Funny how we bailed Russia out back then, and much of the points then are the same today.
Everything you just posted, by the way, obama has extended in addition to starting a third, unfunded war in violation of the war powers act.

Henry, the downgrade and the meltdown are not the result of any recent events; they are the consequence of 40 years of bad decisions, beginning with the August 15 1971 decision by Richard Nixon to break the link between gold and the dollar. Before then, the government had to be fiscally responsible; afterward it didn’t, and it hasn’t been.

There is probably an economic law that says if government is not forced to act responsibly, then it will not be. The Founders seemed to know that when they wrote the Constitution — they tried to prevent government from making really big mistakes, but they could not foresee all the mischief that politicians might make.

Blaming the people who want the government to spend less money, to live within its means, does not make sense. 

I’m not big fan of Ron Paul, but today he is justified in saying, “I told you so. I warned you that this day was coming. You called me a crackpot and a lunatic, but I was 100% right.”

I wish I could give you 10 points on that comment.

Obama did not stack all the wood on the bonfire — earlier presidents and congresses have been piling up the fuel for forty years.

But Obama poured gasoline on the mess and lit the match, and now he’s fiddling while Washington burns, or playing some golf, or lining up some more campaign donations. Theoretically, at least, he could have prevented all of this with some sound economic policies. But with each decision he made, whatever was the sound decision, Obama did the opposite. 

Some of us knew what he was about, before he was elected. We knew he was all in favor of the worst policies of Franklin Roosevelt, Lyndon Johnson, and Jimmy Carter. The smart people in the markets knew this as well, which explains the huge selloff in 2008 as soon as Obama’s victory became a certainty. (the week after McCain was nominated, and his tiny post-convention bounce disappeared)

Thanks. Maybe that’s why Colby Hall put it up here in the first place.

No. Really.  I’m in love with you Pablo.

Are you suggesting that George Soros and his billionaire pals manipulated this situation, shorting the equity markets in anticipation of a meltdown?

I don’t know… I don’t think so. He’s corrupt, and pretty smart, but not smart enough to get the timing right. Unless he got a head’s-up from S&P a few weeks ago.

It is reasonable to assume that Soros no longer has any need for Barack Obama. He is not going to expend much effort or capital to keep Obama in office.

Are you suggesting that George Soros and his billionaire pals manipulated this situation, shorting the equity markets in anticipation of a meltdown?

I don’t know… I don’t think so. He’s corrupt, and pretty smart, but not smart enough to get the timing right. Unless he got a head’s-up from S&P a few weeks ago.

It is reasonable to assume that Soros no longer has any need for Barack Obama. He is not going to expend much effort or capital to keep Obama in office.

Bush had it easy? Like when every democrat opposed the surge, led by Harry “this war is lost” Reid? Or had his judge nominees just pushed through? Or fought over social security reform. Or the Patriot Act that our brave, historic, and dear leader has extended and added to? As Deaniac the Screamer said, “Howard Dean is fond of saying that he represents the
democrat wing of the Democratic Party, tapping into sentiment that the
party has not done enough to oppose Mr Bush’s foreign policy, or
programs or tax cuts.”

Bush had it easy? Like when every democrat opposed the surge, led by Harry “this war is lost” Reid? Or had his judge nominees just pushed through? Or fought over social security reform. Or the Patriot Act that our brave, historic, and dear leader has extended and added to? As Deaniac the Screamer said, “Howard Dean is fond of saying that he represents the
democrat wing of the Democratic Party, tapping into sentiment that the
party has not done enough to oppose Mr Bush’s foreign policy, or
programs or tax cuts.”

So that’s why we didn’t get Obamacare or a failed $800 Billion stimulus!

“I love the folks who helped get us in this mess and then suddenly say,
‘Well, this is Obama’s economy,’” the president told an outdoor crowd at
Macomb Community College, veering off his scripted words. “That’s fine.
Give it to me. My job is to solve problems, not to stand on the
sidelines and harp and gripe.”

7/14/2009

Democrats doing what Democrats do best….Creating  Fear amongst the masses!

You have impeccable taste.

I’m not a big fan of Ron Paul, but today he is justified in saying, “I
told you so. I warned you that this day was coming. You called me a
crackpot and a lunatic, but I was 100% right.”

Yup. Exactly right.

Sounds like the Bush administration. I warned everyone in 2008. Obama and Bush are the same, the only difference is the name.

The prize is the Presidency 2012.
The debt debate and FOX coverage is no more than “political theater” until the election is past.

Is the Tea Party a major player?  Or just the joker in the deck.
We now find out they are just disgruntled, confused retirees wanting their checks from Uncle Sam but fighting against anyone else getting benefits.  Selfish, Flag waving, self righteous hypocrites.

And conservative talk radio is so soothing.
Though they at least don’t speak “for the masses.”

It always makes me wonder, the man is running as a Republican Presidential candidate. Makes more sense than most if not all in Washington, yet the old guard bedfellows from left and right sides do not take him seriously and bring him into more negotiations “behind closed doors”? Less coverage than any top candidate on major networks? Like everyone hates the smartest kid in the class that just uses common sense?

I guess, it’s like Freshmen members, people that make sense are ignored in Washington and blamed for a machine long broken.. It’s both parties fault.. let someone actually get in office that will make the changes for both sides.

The Addictions in Washington has to end. Even if we have to vote them ALL out to do it.
 
Ron Paul – 2012.. You might not like what he says, but he is on the right path to save a nation from themselves. Obviously, better than anyone else who can come up with a plan out there.
 
And when he wins strawpolls these parties like to see.. they still ignore him.. and then the polls themselves?.. strange.. Wonder what they will think come 2012 vote counts..

We need common sense to take charge. Enough is Enough.

He lit the flame when he signed Gramm-Leach-Biley.

There really must be some way to cure Bush Derangement Syndrome. We need to find a cure, then see if it can be engineered to work against Tea Party Derangement Syndrome. 

Insane rage on a massive scale is a risk to domestic tranquility and national security. There are not nearly enough asylums. Perhaps decommissioned Army bases could be converted into reeducation camps?

May is Mental Illness Month, but the problem is too big for just a single month.