Tea Party to blame for US Credit Rating?

majorwhiteapples

majorwhiteapples

5,000+ Posts
We know who Obama is afraid of now. Axelrod comes out and blames the Tea Party for the Credit downgrade of the US.

Even Obama die hards have to scratch their head at this one.

A faction of the Republican party that has been around what maybe 3 years and has a minority percentage of the majority party in 1/3 of the government is responsible for the credit downgrade. The past 80-90 years had nothing to do with the credit downgrade?

Axelrod is a hell of campaigner, but nothing more, keep that Jack Wagon off of TV. Actually as a new financial contributor to the Tea Party, keep talking Axelrod, the more you talk the more people you turn on to the Tea Party. Amazing how Obama and Klan are pushing people more and more to the right.
 
if it was not for the tea party, cuts would not have been in play. we were downgraded for spending and not cutting big enough or soon enough. we can avoid further downgraded by more cutting, not by more spending (which is what BHO and the left wanted).
 
What does S&P say would help the rating? What is the Obama plan? do they mesh? I'm guessing Obama wants no part of what it will take to get the USA to stop spending so much money.

baseline to the early 2008 budget.(pre September 2008 crash)
 
No, BI, the Tea Party won this debate. In February, Obama suggested a "status quo" budget. Now, the debate is not whether spending should be cut, but by how much. Plus, S&P was very clear that they were more concerned about the fiscal reality than the political process (except to the extent the political process failed to cut spending).
 
I blame the tea party for dragging this out and in the end getting a deal done that had less cuts than they wanted or that were on the table during negotiations.
 
If it wasn't for the Tea Party, cutting the national debt probably wouldn't even have been part of the political dialog for the last couple of months. You certainly didn't hear Obama talking about cutting the deficit prior to the debt ceiling impasse.

And still, Obama took all entitlements out of the negotiations. Obama's talked about 4 trillion in cuts were just smoke and mirrors and book keeping tricks. Somehow he was going to use the military reductions in the Middle East as deficit reductions. Ridiculous.
 
My understanding of the S&P report is that they cited flaws in the political system based on short rather than long term interests in both the downgrade and negative outlook.

When we consider that Boehner was close to presenting the Grand Compromise to his party, which would have cut over $4 trillion, and because it was too close to being bi-partisan and his Tea Party faction said no way- he reversed his course and instead we have a $1.25 cut with future contingents- it's not inaccurate at all to say the Tea Party shot itself, and the entire country, in the foot.

They could have had another $3 trillion in cuts if they understood what compromise is, and that they only comprise a small percentage of one of the two parties. But, Boehner conceded to them to keep his chair, and Obama did not help.
 
the report indicated they did not care if it was by cuts or taxes just deeper and faster cuts.

blaming the tea party is like blaming the fire fighters for the fire. the tea party started the theme of cutting. the dems would have been smart to get ahead of that wave, embrace this novel concept instead of demonizing them with names like nazi, astro turf, racist. big time screw up for the dems.
 
Well, I can see Bevo Incognito got his Huffpo email this morning. This effort by the administration to use one snippet of language really is getting Orwellian.

The language you cited is explaining the baseline assumptions they used. It's on the bottom of page 4 of the link provided, I can't cut and paste it in here for some reason.

They used a revised base case scenario where they assume the bush tax cuts do not expire (and this is where the language you mention is contained), and a revised upside scenario which assumes the bush tax cuts expire (it's in the very next paragraph, so I'm not sure how you missed it).

They go on to say (again in the very next paragraph so how you missed it is a mystery), that even in the scenario of letting the tax cuts expire, they would still have given a AA+ rating.

So, in summary, whether or not the tax cuts expire, we are still a AA+. So walk me through exactly how the extension of the Bush tax cuts is responsible for the downgrade?

Now, go through the document and just do a simple search for the term "spending". Let me know how many times that comes up and in what context.
 
Cut, baby, cut!

**** the federal government and its grossly bloated size. Take current spending levels and subtract 3 percent per year from every department, including SS and medicare and the military for the next 10 years. Tax rates stay stable. Absolutely no new programs shall be introduced. That should be the outgoing baseline, and with it our budget will be balanced in relatively short order.

Simple, effective, and it affects everybody in the government across the board equally. If the "managers" of the various federal programs cannot figure out a way to live with a little less, then they should be fired on the spot for incompetence. That would free up a bit of money for other uses too.
 
As Obama sends his Flying Monkey henchmen out to blame the Credit Downgrade on The Tea Party, Rush Limbaugh is reading a list of almost 500 things that The Big O has previously blamed on other people, it's hilarious.

Doesn't this President accept any blame, ever? Truman said the "buck stops here"? The buck NEVER stops at Obama's door.
 
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