Posted on 07/28/2011 4:15:05 PM PDT by verklaring
The "most-recent" proposals cut anywhere from nothing in actual spending (Democrat proposal) for 2012 to $90 billion (Republican.) And neither contains any actual cuts on a forward basis - the Republicans are at least honest about it and say they just "hold discretionary non-defense spending at 2011 levels."
That's not a cut in spending.
(Excerpt) Read more at market-ticker.org ...
The downgrade is coming no matter what. Talk of default are just threats.
There are no real cuts. And I seriously doubt there will be any time soon.
There will not be cuts with men and women such as we have in our WH and Congress
Having just watched Cavuto try to pin down Rep Jan Schakowsky on FOX Business, I am convinced the stupid and greedy hold the high ground
Only total ruin of the nation “may” dislodge them
The impersonal markets will inexorably do what impersonal self-preserving markets do, and they will vote long before 2012
The mere fact we weren’t down-graded several years ago completely belies the credibility of the ratings agencies.
Frankly, the credit rating of the USA should be on par with Greece with the only exception that the U.S. Fed can print money to infinity to prop up whatever is left of the economy and keep the spending spree going.
Fine.
We each owe $92,000 dollars for the debt and add our annual tax obligations. And this is without any increases!
THERE IS NO MORE MONEY.
Let it collapse.
Not one elected will ever cut a single program so best is to cut all the programs!
There are no real cuts. And I seriously doubt there will be any time soon.
This country will fold within 10 years. It is apparent that the current DC Hacks are not capable of solving it, as evidenced by the sham bills on both sides.
The dirty little secret is the rating will be cut anyway...not because of the “argument” about a debt ceiling that is going on, but because the debt itself is so high.
It is independent of this circus in DC about the debt ceiling.
>> This downgrade will happen no matter what is passed, if there are no real cuts.
Downgrading our debt would be not only an *honest* rating agency response, but also a blessing in disguise.
Hey ,Bonehead Wear it well!
S&P stated yesterday $4MIL is needed to prevent a downgrade; today the president of S&P said that is not accurate followed by another S&P statement saying that $4MIL in cuts is needed.
We’re on our way to officially being a 3rd world shithole.
Thanks Obama
So what will actually happen if we either have the downgrade or default?
How bad will the economy get? I thought it couldn’t get much worse as it is now..
so why can’t we get the pubies to do the right thing?
Think “Deer in the Headlights”
or “Oncoming Train”
i work with a major financial company; Prudential- an email from the home office was sent out this afternoon saying they expect a downgrade on US Treasury’s....
4 million? you mean trillion right?
Add a few more zeros - it is 4 TRILLION
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