C
Con_Alma
Posts: 12,198
Jul 26, 2011 9:33am
We should experience a downgrade even if a budget and debt level deal is reached by August 1st.
LJ
Posts: 16,351
Jul 26, 2011 9:40am
The U.S. can pay creditors until the 9th or so. We will not default. Do not let them scare you into thinking that they are dumb enough to let that happen. Now, there isn't enough money to fund EVERYTHING, but to think they won't pay their creditors and furlough gov't employees is ridiculous. It's just another scare tatic by Washington trying to force what they want. While many people think many in D.C. are stupid, realize they aren't brain dead enough to let a default occur.
coyotes22
Posts: 11,298
Jul 26, 2011 9:54am
If we cant curb spending, this will be just the first of many downgrades, we could face.
coyotes22
Posts: 11,298
Jul 26, 2011 9:56am
LJ;841425 wrote:The U.S. can pay creditors until the 9th or so. We will not default. Do not let them scare you into thinking that they are dumb enough to let that happen. Now, there isn't enough money to fund EVERYTHING, but to think they won't pay their creditors and furlough gov't employees is ridiculous. It's just another scare tatic by Washington trying to force what they want. While many people think many in D.C. are stupid, realize they aren't brain dead enough to let a default occur.
I love the one involving SS checks. We have treasury bonds that pay that. I also thought that I heard that the Aug. SS checks have already been cut. So to say that Seniors will not receive their Aug checks, is a bold face lie. I know, I know, I was surprised that Obama told a lie, too.
Cleveland Buck
Posts: 5,126
Jul 26, 2011 10:02am
Those of us who warned of a rating downgrade 3 years ago were fearmongers that blindly hated Obama. When the interest rates on our debt go up you can forget about ever even balancing the budget let alone paying down the debt.
LJ
Posts: 16,351
Jul 26, 2011 10:12am
I don't know why people are buying into the scare tactic that they are dumb enough to default. They are not. The U.S. will not default. The payments will be made.
coyotes22
Posts: 11,298
Jul 26, 2011 10:14am
LJ;841447 wrote:I don't know why people are buying into the scare tactic that they are dumb enough to default. They are not. The U.S. will not default. The payments will be made.
It is just something else for them to blame the GOP of. They are running out of things to blame on Bush, so lets blame a 'default' on the GOP.
LJ
Posts: 16,351
Jul 26, 2011 10:16am
My favorite part of Obama's speech last night "so let's have a compromise.... urge them to use my plan" lol
coyotes22
Posts: 11,298
Jul 26, 2011 10:22am
LJ;841457 wrote:My favorite part of Obama's speech last night "so let's have a compromise.... urge them to use my plan" lol
No, the best part was when he said,
when he took office, there was little money coming in, which forced him to spend more.
WTF?
Cleveland Buck
Posts: 5,126
Jul 26, 2011 10:26am
LJ;841447 wrote:I don't know why people are buying into the scare tactic that they are dumb enough to default. They are not. The U.S. will not default. The payments will be made.
They won't default right now. They will raise the debt ceiling. This is all posturing for the 2012 election. They all make me sick. But the U.S. will eventually default on it's debt obligations, sooner rather than later.
G
gut
Posts: 15,058
Jul 26, 2011 10:26am
Obama will have to put on his best spin cap if they raise the debt ceiling and STILL get downgraded. I heard that comment and shook my head that the average American is too ignorant to understand that the real driver is ABILITY to pay, not "willingness" to pay as Obama is trying to pin on the Repubs. Haven't validated it or checked, but heard the other day that our debt is a larger % of GDP than Greece, which is flat out scary.LJ;841447 wrote:I don't know why people are buying into the scare tactic that they are dumb enough to default. They are not. The U.S. will not default. The payments will be made.
Let's take a step back and really get a good look at the picture here: We've added over $4 trillion in debt in just 2.5 years, and we are seeking a $2.5 trillion raise in the debt ceiling just to carry us through 2012. That means in just 4 years, we will have added nearly $7 trillion to the debt, something like a 70% increase?
G
gut
Posts: 15,058
Jul 26, 2011 10:28am
LJ;841447 wrote:I don't know why people are buying into the scare tactic that they are dumb enough to default. They are not. The U.S. will not default. The payments will be made.
Maybe they will furlough the USPS so Obama can make good his on his threat that people won't get their SS checks.
Q
QuakerOats
Posts: 8,740
Jul 26, 2011 10:28am
coyotes22;841463 wrote:No, the best part was when he said,
when he took office, there was little money coming in, which forced him to spend more.
WTF?
Even the rest of his socialist party has to wince when he attempts to get by with ridiculous statements such as that.
sleeper
Posts: 27,879
Jul 26, 2011 10:30am
gut;841468 wrote: Let's take a step back and really get a good look at the picture here: We've added over $4 trillion in debt in just 2.5 years, and we are seeking a $2.5 trillion raise in the debt ceiling just to carry us through 2012. That means in just 4 years, we will have added nearly $7 trillion to the debt, something like a 70% increase?
Actually what is flat out scary is that people still support this president. He's spent a ton of money and what do we have to show for it? Nothing, absolutely nothing.
G
gut
Posts: 15,058
Jul 26, 2011 10:31am
We need to elect less lawyers and more people with practical business experience.QuakerOats;841470 wrote:Even the rest of his socialist party has to wince when he attempts to get by with ridiculous statements such as that.
Q
queencitybuckeye
Posts: 7,117
Jul 26, 2011 10:36am
gut;841476 wrote:We need to elect less lawyers and more people with practical business experience.
Anyone worth a damn in business who would get involved with trying to clean up this ungodly mess is a true patriot.
coyotes22
Posts: 11,298
Jul 26, 2011 10:48am
queencitybuckeye;841479 wrote:Anyone worth a damn in business who would get involved with trying to clean up this ungodly mess is a true patriot.
The problem is finding someone who is willing to take on this crisis.
Q
QuakerOats
Posts: 8,740
Jul 26, 2011 4:04pm
G
gut
Posts: 15,058
Jul 26, 2011 4:08pm
It's not Obama's job to veto a resolution passed by the House and Senate because it doesn't spend or tax enough. It's absurd to even make that threat because if the bill gets to his desk and he veto's it I would think that could be grounds for impeachment.
coyotes22
Posts: 11,298
Jul 26, 2011 4:09pm
Q
QuakerOats
Posts: 8,740
Jul 26, 2011 4:52pm
http://www.nationalreview.com/corner/272768/carney-gets-hit-ten-minutes-obama-plan-daniel-foster
Alas, barry has no plan.
Change we can believe in .....
Alas, barry has no plan.
Change we can believe in .....
G
gut
Posts: 15,058
Jul 26, 2011 5:40pm
Well, that reporter probably asked his last question at a WH press conference, at least while Obama is in office.QuakerOats;841936 wrote:http://www.nationalreview.com/corner/272768/carney-gets-hit-ten-minutes-obama-plan-daniel-foster
Alas, barry has no plan.
Change we can believe in .....
Kind of sounds like Obama is going to be the kid who takes his ball home if he doesn't get his way.
R
revgat
Posts: 94
Jul 26, 2011 7:22pm
Not really even close.http://www.cnbc.com/id/30308959/The_World_s_Biggest_Debtor_Nations?slide=6gut;841468 wrote: Haven't validated it or checked, but heard the other day that our debt is a larger % of GDP than Greece, which is flat out scary.
sleeper
Posts: 27,879
Jul 26, 2011 7:38pm
QuakerOats;841936 wrote:http://www.nationalreview.com/corner/272768/carney-gets-hit-ten-minutes-obama-plan-daniel-foster
Alas, barry has no plan.
Change we can believe in .....
It's apparent the only plan Obama has is to discredit anything the Republicans put forward, and then whine about them not compromising. I hope the Republicans stick their ground, and let this loser go down in history as being the president that let this country default. The sad part is, you'd still have people supporting Obama.
believer
Posts: 8,153
Jul 26, 2011 7:54pm
Where's Gibby when you need him?sleeper;842058 wrote:The sad part is, you'd still have people supporting Obama.