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Credit Rating Downgrade Could Happen Before August 2(S&P)
FOXNEWS ^ | Jul 23, 2011 | Neil Cavuto

Posted on 07/23/2011 1:59:01 PM PDT by Son House

Featured Videos-Neil Cavuto

(Excerpt) Read more at video.foxnews.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: credit; debt; debtceiling; downgrade; economy; obamageddon; planners; police; rating; teachers
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Oh, you mean if taxes are raised on small business and the economy is predictably worse off and unable to pay down on a higher debt ceiling, that may be reason to lower the credit rating? I never believed it was going to get better if there was more debt, that would be counter-intuitive.
1 posted on 07/23/2011 1:59:04 PM PDT by Son House
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To: Son House

Good, let it happen. Then maybe more Americans will wake the hell up.


2 posted on 07/23/2011 2:01:55 PM PDT by MaxMax
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To: Son House

I loved how Cavuto point-blank asked the S&P guy: “Why should anyone believe you; you guys have been wrong dozens of times on your AAA corporate bonds?”

I also admired his tacitly calling the snaggletoothed congressman from MA a liar.


3 posted on 07/23/2011 2:04:12 PM PDT by Migraine (Diversity is great... ...until it happens to YOU.)
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To: Son House
It's all a scam, we're being robbed B Y _ T H E _ B A N K ! !
4 posted on 07/23/2011 2:32:17 PM PDT by de.rm ('Most people never believe anything you tell them unless it isn't true."-Groucho Marx)
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To: Son House

Our credit rating will go from AAA to AA? Who cares? Japan’s has been AA for years and they still sell their bonds like crazy.


5 posted on 07/23/2011 2:37:55 PM PDT by Candor7 (Obama fascist info..http://www.americanthinker.com/2009/05/barack_obama_the_quintessentia_1.html)
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To: Candor7

It doesn’t make much sense really. My guess is a CCB type plan would leave it the same, but the bickering and apparent unwillingness to fix the problem being the reason for a downgrade.


6 posted on 07/23/2011 2:56:19 PM PDT by RockinRight (If we're "teabaggers" then they're "d-baggers.")
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To: Son House
Contrary to all the "Wise boys and girls" here on FR that given their knee jerk responses that the Speaker of the House's is "caving"..."beaten".."a loser"...I'm guessing that the only way they could arrive at that conclusion is they must be a "fly on the wall" in these sessions with zero and his minions.

Best I can tell the Speaker has out maneuvered zero and allowed the boy to paint himself in a corner where ole "zero" has run out of "airspeed, altitude and ideas" as we say in the flying biz. Now if I had the information that the "wise boys and girls" here on FR had....I may have a different take.... Further I suspect that as "happy hour" spreads across out great country on this Saturday many will attain even greater wisdom and insight on the goings on of these negotiations...and spread their mindless, baseless drivel on posts far and wide!

7 posted on 07/23/2011 3:01:20 PM PDT by RVN Airplane Driver
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To: Son House

It would be historic.

Obama could end up being the first U.S. president to hold office while rating agencies like Moody’s and Standard & Poor’s downgrade the nation’s AAA debt rating.

Now, do you really think that’s going to happen, or it’s just more propaganda???


8 posted on 07/23/2011 3:04:02 PM PDT by Freddd (NoPA ngineers.)
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To: Freddd
“Obama could end up being the first U.S. president to hold office while rating agencies like Moody’s and Standard & Poor’s downgrade the nation’s AAA debt rating.”

Are you better off now; or before Obama took office?
Incredible to think about the damage this guy has done to our nation.

9 posted on 07/23/2011 3:06:09 PM PDT by HereInTheHeartland (I love how the FR spellchecker doesn't recognize the word "Obama")
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To: Freddd
Obama could end up being the first U.S. president to hold office while rating agencies like Moody’s and Standard & Poor’s downgrade the nation’s AAA debt rating.

If that occurs, I'm sure some Dem will pull out the race card.

10 posted on 07/23/2011 3:12:37 PM PDT by matt04
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To: Son House

Government-dependent constituents—federal and local—want you to believe that the debt is being decreased in the “$4 trillion” congressional deal. It isn’t. The deficit is over $1.5 trillion per year now, so it will mount up anyway. And with the debt ceiling raised later on several times in his plan, the yearly will probably go up, too.

There will be a default. Favored constituents of both political parties are milking the debt regime for all that they can take before the eventual default, and they’re lying to us.


11 posted on 07/23/2011 3:52:27 PM PDT by familyop ("Plan? There ain't no plan!" --Pigkiller, "Beyond Thunderdome")
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To: Migraine

Corporate bonds!!!??? S&P blew the whole enchilada on Fannie Mae until the very final second. The rating house is a joke. Read “Reckless Endangerment.” They are trying to recoup their reputation now by talking tough.


12 posted on 07/23/2011 4:19:06 PM PDT by Frank Sheed (Fr. V. R. Capodanno, Lt, USN, Catholic Chaplain. 3rd/5th, 1st Marine Div., FMF. MOH, posthumously.)
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To: familyop
Government-dependent constituents—federal and local—want you to believe that the debt is being decreased in the “$4 trillion” congressional deal. It isn’t. The deficit is over $1.5 trillion per year now, so it will mount up anyway. And with the debt ceiling raised later on several times in his plan, the yearly will probably go up, too.

We need to cut 1.5 trillion the 2012 budget. That will accomplish a near balanced budget. But that's nowhere near enough.

We also need to pay off our 14.6 Trillion dollar debt that has been accumulating and which is also what is causing such a problem in the markets. So we'll need to use some revenues for that - meaning we'll have that much less to spend.

Yes we have a lot of spending to cut.

13 posted on 07/23/2011 4:34:23 PM PDT by Principled
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To: Principled
"Yes we have a lot of spending to cut."

Yes--about $15 trillion dollars over the next ten years to keep the debt from getting higher, and that would be with no spending increases over this year. ;-)

I'll take the opportunity now to tell folks here about something else that's going on. Some, if not many local governments are stocking up and preparing like survivalists. They've bought extra fleets of vehicles, raided ranches for revenues, are building PV solar electric power plants, new communications facilities, and so on. So are the bosses of corporatism, supported/defended from domestic competition by government.


14 posted on 07/23/2011 4:53:51 PM PDT by familyop (Rome was sacked in a day--twice.)
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To: Son House

I always thought that over burdensome debt would reduce the credit rating anyway. How is it that the a rating company can see a nation awash in debt yet keep the AAA rating?


15 posted on 07/23/2011 7:06:03 PM PDT by raybbr (People who still support Obama are either a Marxist or a moron.)
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To: RVN Airplane Driver

You’ve got a good point of view on all the armchair FReepers. What Moody’s and S&P say vs. what the world decides to do— whether to buy our bonds or not vs. some other country like Russia, say or Greece—none of that matters really.
The Speaker and very sharp people like Ryan and Cantor and Duke economist graduates from Alabama have their minds together. Obama and his marxist pals have only one playbook to work out of—and times and people have changed.

Reminds me of the scene in Patton “Rommel you magnificent bastard.... I read your book!” And we have. That,and understanding that virtually no one on the other side is negotiating in any kind of honest good faith. Makes it easier. Deo Vindice.


16 posted on 07/23/2011 7:08:29 PM PDT by John S Mosby (Sic Semper Tyrannis)
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To: Frank Sheed

Reminds me of the uncannily close relationship of the property appraiser to the bank lending the money. And,as we learned, the banks went to the appraisers that gave them the number they wanted and needed. Thus making the spiraling real estate market a sham and a joke.


17 posted on 07/23/2011 7:18:36 PM PDT by John S Mosby (Sic Semper Tyrannis)
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To: raybbr
How is it that the a rating company can see a nation awash in debt yet keep the AAA rating?

Even though the USA is deeply in debt, it remains the largest and most dynamic economy in the world -- even though it is currently in sick bay.

The debt is readily controllable if the economy recovers and we get a handle on spending -- acts well within our capability.

But, first, before we can accomplish any of these things, we've got to get rid of Zero and the Democrat Senate...

I honestly think the rating services will retain the AAA rating so long as they see a GOP sweep on the horizon in 2012.

18 posted on 07/23/2011 7:19:52 PM PDT by okie01 (THE MAINSTREAM MEDIA: Ignorance On Parade)
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To: HereInTheHeartland

“Are you better off now; or before Obama took office?
Incredible to think about the damage this guy has done to our nation.”

His poll numbers should be totally in the tank by now, yet they are`nt. In all likelihood he will be re-elected.


19 posted on 07/23/2011 7:25:13 PM PDT by chessplayer
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To: Son House
GE under Immelt's watch went from AAA to AA+ in 2009.

Immelt is one of Barry's advisors...

20 posted on 07/23/2011 7:55:15 PM PDT by DTogo (High time to bring back the Sons of Liberty !!)
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