Tea Party to blame for US Credit Rating?

[hornpharmd]

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[hornpharmd]

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[Rex Kramer]

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[Rex Kramer]

Taylor I agree with your post. This is his economy, which again is better than the one he inherited despite him.

What do you mean about not returning TARP payments to Treasury?

 

[ShinerTX]

What the Tea Party did in this episode is to shine a bright light on Barack Obama and on his ability to make cuts to wasteful areas of government. The obvious outcome is that he simply lacks that ability, which was obvious to anyone paying attention here at home but now it is obvious to most of the world.

 

[ShinerTX]

Heard a great line yesterday but unfortunately I do not recall the source.

"Saying the Tea Party is responsible for our Credit Downgrade is like blaming the Betty Ford Clinic for Alcoholism."

Pretty much dead right.

 

[JohnnyM]

Shiner - Do you believe S&P would have downgraded us if the debt ceiling was raised without much of a fight as has been done a number of times before?

 

[Horn6721]

So S& P dpwngraded USA because of the democratic process and debate?

 

[JohnnyM]

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[dheiman]

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[msdw24]

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[Horn6721]

johnnym
You didn't ask me a question. You asked Shiner
but I will answer
I don't think S&P actually used the metric of non unity and debate for changing the debt rating.
If partisanship is actually something s& P considers why didn't they downgrade our rating when all Dem congressional leaders and including Obma voted against rasing it when Bush asked for it?
so based on how S& P acted in the past I say the contentious debate had nothing to with what S&P did, their words not withstanding since their words are in contradiction to their actual action.

 

[ShinerTX]

As I said above, I am afraid that the very public debate did highlight the fact that this Administration has zero motivation to cut anything in government. Perhaps the military. When the President refused to even present a plan for cutting, it had to give pause to the Credit agencies as well as our creditors. When the resulting plan was so small, it had to confirm a lot of fears, and THAT caused the downgrade.

 

[ShinerTX]

Johnny, to answer a question with a question, do you think we get downgraded if the Senate approved and the President signed the House's approved "Cut, Cap, & Balance" Plan?

 

[JohnnyM]

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[dheiman]

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[Horn6721]

johnnym
yes I mentioned that S& P SAID it considered the debate and the difficulty of framing a ' political concensus"

If that is so why didn't S& P downgrade the rating after dems including Obama voted against raising it during Bush admin? What was it Obama said, oh yeah
"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

and that was not contentious?

so johhnym If you rely ONLY on spoken words I can see where you would cling to S&P's current words to bolster your outrage.

Which words do You consider to prove a point? Obama's in 06 or S& P's last week?

actions ( both Obama's and S&P's) are louder than words


edit to correct spelling of the word word

 

[ShinerTX]

I think CC&B would have sent a strong message of fiscal responsibility to the credit agencies and the world resulting in no downgrade. Without a doubt.

Bottom line from their report is that we need strong leadership at this time. That would have demonstrated strong leadership for the President to sign CC&B.

 

[JohnnyM]

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[UTChE96]

Obama is the president. Lack of political conscensus falls on him. He should try leading next time instead of being an indecisive spectator. I suppose he became gunshy after his budget was unanimously rejected by the Senate. The American voter is forgiving but eventually becomes fatigued from endless excuses.