US Credit rating Downgraded

Discussion in 'News / Current Events' started by mandym, Aug 5, 2011.

?

Should the US credit rating have been downgraded?

  1. Yes

    84.6%
  2. No

    15.4%
Thread Status:
Not open for further replies.
  1. mandym

    mandym
    Expand Collapse
    New Member

    Joined:
    Feb 3, 2011
    Messages:
    4,991
    Likes Received:
    0
    The US credit rating was downgraded today by S&P. Do you agree this should have happened? Why or why not? Is Obama the first President that this has ever happened under? What could have been done to stop the downgrade?
     
    #1 mandym, Aug 5, 2011
    Last edited by a moderator: Aug 5, 2011
  2. Arbo

    Arbo
    Expand Collapse
    Active Member

    Joined:
    Dec 4, 2010
    Messages:
    3,942
    Likes Received:
    1
    Given the way things have been handled in Washington the last few years, I am of the opinion that it was inevitable.

    Oh yes,

    [​IMG]
     
  3. HankD

    HankD
    Expand Collapse
    Well-Known Member

    Joined:
    May 14, 2001
    Messages:
    15,144
    Likes Received:
    321
    Prognostication of a statement soon forthcoming from the Whitehouse:

    It was Bush's Fault!!!

    HankD
     
  4. Borneol

    Borneol
    Expand Collapse
    New Member

    Joined:
    Dec 24, 2010
    Messages:
    127
    Likes Received:
    0
    I believe one key area that would have stopped the credit rating down grade is reform of our entitlement programs. Enjoyed economist Thomas Sowell's article about this issue:

    "How Images Of 'Poor,' 'Elderly' Distort Reality"

    /www.investors.com/NewsAndAnalysis/Article/580251/201108021818/How-Images-Of-Poor-Elderly-Distort-Reality.htm

    excerpt:

     
  5. HankD

    HankD
    Expand Collapse
    Well-Known Member

    Joined:
    May 14, 2001
    Messages:
    15,144
    Likes Received:
    321
    Don't worry, the new Eugenics Bill (which we weren't allowed to read until after it was passed) will take care of all the Grandmas and Grandpas who refuse to die shortwith:

    http://www.newsmax.com/Headline/obama-death-panels-medicare/2010/12/26/id/381043

    HankD
     
  6. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    They could have enacted some real spending cuts.
     
  7. preachinjesus

    preachinjesus
    Expand Collapse
    Well-Known Member
    Supporter

    Joined:
    Feb 9, 2004
    Messages:
    7,406
    Likes Received:
    99
    There is no elected official in Washington who deserves to keep their jobs.

    All the incumbents need to be vacated from their positions. We need a complete, systematic change in order to rebuild the shattered American invention.

    Our leaders have failed us. We deserve this.
     
  8. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
  9. HankD

    HankD
    Expand Collapse
    Well-Known Member

    Joined:
    May 14, 2001
    Messages:
    15,144
    Likes Received:
    321
    Gross!!

    But cool.

    :)

    HankD
     
  10. freeatlast

    freeatlast
    Expand Collapse
    New Member

    Joined:
    Mar 1, 2004
    Messages:
    10,295
    Likes Received:
    0
    Much of what we are experiencing is President Bush's fault although that is not to suggest this president has not added to it abundantly.
     
    #10 freeatlast, Aug 6, 2011
    Last edited by a moderator: Aug 6, 2011
  11. NaasPreacher (C4K)

    NaasPreacher (C4K)
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 21, 2003
    Messages:
    26,806
    Likes Received:
    78
    I agree. This is the natural consequence of decades of spending more than you have. Payday someday.
     
  12. freeatlast

    freeatlast
    Expand Collapse
    New Member

    Joined:
    Mar 1, 2004
    Messages:
    10,295
    Likes Received:
    0
    Nothing could have been done. While i wish that they had taken steps to cut the budget instead of this mockery of effort the downgrade would still have happened since the steps to fix the problem will kill the country just like the steps they took Monday with the only difference being if they had taken the steps we would have fell much faster.
    In fact the downgrade should have happened many moons before. The only reason it is has not is because the US has been the big boy on the street and politics. The S&P had the guts and took the steps that the other rating entities have not had. While I do think that there will be one more upswing in the markets it will not be able to sustain itself and we will fail in our obligations and lose just about everything we have.
     
  13. freeatlast

    freeatlast
    Expand Collapse
    New Member

    Joined:
    Mar 1, 2004
    Messages:
    10,295
    Likes Received:
    0
    Yes absolutely and it saddens me greatly to see this nation fail but our reckless attitudes and sinful ways has brought this on ourselves.
     
  14. freeatlast

    freeatlast
    Expand Collapse
    New Member

    Joined:
    Mar 1, 2004
    Messages:
    10,295
    Likes Received:
    0
    I scream things like that all the time, but I actually believe the only way out of this is repentance of the church and even then we would not come away un-scorched.
     
  15. HankD

    HankD
    Expand Collapse
    Well-Known Member

    Joined:
    May 14, 2001
    Messages:
    15,144
    Likes Received:
    321
    A few months ago, I thought Obama couldn't lose the upcoming election due to his popularity but this changes everything.

    It is indeed a shared responsibilty but no matter, the sitting president will take the brunt of it "It happened on his watch" will be the Republican mantra.

    Actually this probably gaurantees a Republican victory.

    HankD
     
  16. Arbo

    Arbo
    Expand Collapse
    Active Member

    Joined:
    Dec 4, 2010
    Messages:
    3,942
    Likes Received:
    1
    Hank, I agree. I thought a few months into BO's term he'd be a one-termer, but began to have doubts a few months ago. Frankly, now I think it's almost a done deal that he will be out Jan 2013. ...But the election is a long ways off.
     
  17. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    Obama will probably still win reelection - no matter what has happened or will happen.

    Don't forget that it's "Bushes fault".

    Besides Obama's supporters drank the koolaide a long time ago and aren't going to give up now - no matter the reality of the situation.
     
  18. NaasPreacher (C4K)

    NaasPreacher (C4K)
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 21, 2003
    Messages:
    26,806
    Likes Received:
    78
    It certainly is not President Obama's fault alone. This day has been coming for decades. It is the free spending big government policy of the Republicrates which has brought about.

    There is plenty of blame to go around.
     
  19. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    True.

    However my point is that in the context of Obama's reelection the Democrats, both in Washington and the average Democrat voter, as well as the media are going to say "It's Bush's fault" and Obama will be given credit for "it's not as bad as it would have been".
     
  20. NaasPreacher (C4K)

    NaasPreacher (C4K)
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 21, 2003
    Messages:
    26,806
    Likes Received:
    78
    Gotcha. You may be right there.
     
Thread Status:
Not open for further replies.

Share This Page

Loading...