S&P Says 50-50 Chance of U.S. Ratings Downgrade

July 21, 2011

  • July 21, 2011 at 1:29 pm
    Sarah says:
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    Cut, Cap and Balance! It is the only idea that brings fiscal responsibility back to Washington. 69 out of 80 of the last years our government spent more money than it took in, Who else can do that in this world and expect your credit rating to not go down?

    It is the responsibility of the President to propose a solution to this problem. If he ever does, WE NEED TO ASK, DOES THIS BILL REQUIRE THE GOVERNMENT TO LIVE WITHIN ITS MEANS? DOES THIS BILL CONTAIN SPENDING CUTS THIS YEAR? The game is over Obama! its time to get serious about your spending habits!

  • July 21, 2011 at 1:34 pm
    Jim says:
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    So true, There is one thing that bothers me. I read in the article that this is a deficit issue. (Wrong) This is a Debt issue. We owe 14.3 Trillion and the President wants to increase that to about 16.8 Trillion debt cieling. Forget about our deficit right now and focus on the debt. We can not afford to keep increasing this ceiling for our grandchildren. Right now every man woman and child owes $126,000 to China and other bond holders. It is time to reduce this amount in half at least. We have been living like all the people who bought homes without the necessary income to pay the mortgage. It felt good, but eventually they lost or are losing their home now. That is where the government is now.

  • July 21, 2011 at 2:20 pm
    Charlie says:
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    The Democrat position on this issue is indefensible. The rationale for a debt cieling is stronger than ever. As for S&P, why would anybody give a rat’s patoot about a rating from the same bunch that rubber stamped AAA ratings on all the toxic mortage bundles only a few years ago for $250k a pop? I know this is a bad thing for an insurance guy, but these guys–and Moody’s and Fitch–all need to be sued out of existance.

    The net difference has to be a minimum of $4-5 trillion over ten years, and has to come mostly from spending cuts. Revenue has never been the problem in this country. Ryan’s plan is a good one–so is the one the House passed yesterday. If they have to screw with taxes, they had better stay away from mortgage interest and gasoline because a) they are areas that impact low and middle income folks the most and b) the tepid economy will go complely toes up. Same with entitlements–you can’t whack people in realtime–you have to re-set to some future date. And don’t bell me SS is sacred. There are better ways to provide strong retirement benefits without allowing the feds to hold the money (how has that worked out for us so far?)–do yourself a favor and Google “superannuation Australia”.

    This country is not in a hopeless situation, but it will be if we don’t get things fixed right in early August. If the responsible parties decide to kick the ball down the road, they really do need to go out the door in 2012.

    • July 21, 2011 at 2:38 pm
      Sarah says:
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      You said it Charlie, I agree whole heartedly! The only problem with the big spending cuts is that Obama is wanting those spending cuts to come in years 6 through 10 and the revenue increases now. Remember a few months ago when the President said that he and congress where cutting 300 billion in spending and it turned out to be not 300 billion but 3 billion. That is what we are dealing with here. They really do not want to stop spending, just look at the fact that for the last two years we have been operating without a federal budget. WOW!

  • July 22, 2011 at 8:39 am
    Sam says:
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    Where are all the liberal posts defending Obama and the democratic controled congress from 2006 to 2011 spending money that we did not have with no actual budget for the last 2 years and still no budget, to the point that our Country now is going to be downgraded to 3rd world status.

    Time for a new “Change” in 2012!

  • July 22, 2011 at 9:05 am
    Charles says:
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    Where were these guys when Bush was running us into the ditch?

    • July 25, 2011 at 5:01 pm
      Sarah says:
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      Sorry Charlie, That factless emotional outburst of ridicule has been repeated just a little too much (Blame Bush). Time for you liberals to own your economy now. Lets look at your record, liberals- 5 tillion of debt in 3 short years. A new entitlement that will cost us a 1 trillion additional deficit. No budget at all for 3 years and counting, not to mention a arrogant renegade socialist who crys when someone disagrees with his big spending and tax increases.

      Breaking News…… Finally Obama has a debt plan, BLAME BUSH!

  • July 25, 2011 at 5:02 pm
    Sarah says:
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    Okay guys let us pray the Psalms: Psalm 109:8 ~ “Let his days be few and brief; and let others step forward to replace him.”
    Amen



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