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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

    11 vote(s)
    84.6%

  2. No

    2 vote(s)
    15.4%
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  1. freeatlast

    freeatlast New Member

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    it shows it can be repealed if one party is on control and even if the president vetos it from being repealed it goes back to congress and they can override his veto.
     
    #41 freeatlast, Aug 8, 2011
  2. glfredrick

    glfredrick New Member

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    Sure... Exact same process for crafting a new law. The repeal merely overrides the existing law. That is what I said!

    Has nothing to do with party, save that it takes VOTES in order to accomplish the task, and a party with a super-majority can have their way (as was seen in Obama's first 2 years) without much of a hindrance (save parliamentary procedures) from the opposition (minority) party.
     
    #42 glfredrick, Aug 8, 2011
  3. NiteShift

    NiteShift New Member

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    The US, by the administrations own estimates, is now spending 25% of GDP. This is a first. By OMB estimates the deficit tripled in 2008 - 2009. And all the while Pres Obama has been blaming the situation on Bush. Yet now we must refrain from criticizing Obama?
     
    #43 NiteShift, Aug 8, 2011
  4. NaasPreacher (C4K)

    NaasPreacher (C4K) Well-Known Member

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    Where did you see that? He is included in the blame - but this was coming no matter who was elected.
     
    #44 NaasPreacher (C4K), Aug 8, 2011
  5. freeatlast

    freeatlast New Member

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    I agree. I am sure that President Bush found it a blessing to get out when he did.
    We are now borrowing 40% of every dollar we spend. We spend 10 billion a day and 4 billion of that is borrowed.
     
    #45 freeatlast, Aug 8, 2011
  6. NiteShift

    NiteShift New Member

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    Well yes, but it would have been better to pour water on the fire, not gasoline as Pelosi and Obama have done.
     
    #46 NiteShift, Aug 8, 2011
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