Posted on 08/06/2011 2:11:26 PM PDT by Clairity
One day after lowering the nation’s platinum triple-A credit rating, Standard & Poor’s analysts warned Saturday that the U.S. government could face a second downgrade if the economy continues to struggle and the government fails to make the cuts outlined in the debt ceiling agreement.
The ratings agency on Friday downgraded the nation to AA+ for the first time in history, saying partisanship in Washington is preventing dramatic deficit reduction.
(Excerpt) Read more at politico.com ...
Yeah but only temporarily, ya know until things are straightened out.
Never going to happen-blatantly unconstitutional. There will be an election as scheduled in Nov. 2012. If Obama even hinted at the possibility of doing what you wrote, there would be impeachment hearings scheduled the next second. If he actually tried it, he would be impeached and there would be enough Democrats in the Senate to join Republicans in convicting and removing him from office.
Don’t waste your time pondering such things.
I like your optimism but its meaningless until we take the checkbook and printing press away from them.
Frankly I am surprised the S&P did not downgrade the United States to B. The other rating agencies will downgrade next week. There will be no political leadership from either Party to recover and regain the top economic ratings. B rating would put the USA in the same category as Argentina, Ghana and Cameroon. Actually those counties have more responsible behaviour by politicians. The US is obscenely corrupt and out in the open about it. Don’t think so? Ok, why did Obie give Chrysler to Fiat?
There is no inclination by the government of the United States to change its profligate irresponsible spending, and there is nothing on the horizon to boost the US economy and reduce unemployment. These are facts.
The Chinese and other holders of US debt are going to be really upset and sell like crazy. The US treasuries market is going to get hammered next week. There will be so much cash exiting US equities and bonds, it will have to go somewhere. Swiss and Japanese are pushing down their currency, so I would speculate Australian dollars up, Canadian dollars up, gold and silver too, Euro in the tank. Maybe Norwegian kroner is the place to be. I really am not sure.
Oil will dive and natural gas too, on US exchanges. It is going to be a hot nasty week.
The US government has got to figure out a way to get rid of Dick Downgrade Omullah’s administration early, either impeach, or whatever means, resignation is needed. Get rid of him like they did Nixon. We will not survive the Kenyan as a free republic for another 500 days.
The Progressive’s nationalist socialist oligarchy business alliance with GE, Chrysler, GM, Google, etc and SEIU, government and other unions combined with free cash from the Fed to banks in the US and overseas banks, is creating a fiscal crisis that can only be exited by economic change brought about as a consequence of global war and the stimulus on jobs and spending wrought by the related military industrial activities. The top echelon of the third reich knew this in the 1930s - that is why they took on military expansion so early in the regime, after dismantling structural government barriers to dictatorship.
With the dust bowl weather, the high unemployment, the depressed economy, the marxism rampant in government, the erosion of personal freedoms, America, the home of the free and brave, is increasingly in peril. These days are looking more and more like the days of the Depression in the thirties.
When S&P means cuts, do they really mean tax increases, the way Democrats do? I can just hear the stump speeches - “If we don’t raise your taxes, we’ll lose our credit rating...”
The Constitution is just a piece of paper, an idealist form of government written down on some parchment.
What gives the Constitution value, meaning, and power?
The first three words tell one who in the Nation holds the power. And until, We the People realize that again, we deserve the tyranny we get.
Many of us love to call to our hearts the Constitution, but until our mind resolves who holds the power and responsibility for our liberty it is all huff, puff, and empty passion.
I like to remind people that while the Constitution provides the shape, form, and limits of our government it is the Declaration of Independence that provides us with our very first Right. It is the trump card and while many view it as a beautifully crafted document, they miss those words that are indeed the breath of life for our Constitution:
That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, — That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.
When the Guards have failed it is ultimately We the People's responsibility. We have suffered the sufferable evils, but now we see the long train of abuses & usurpations pursuing the destruction of our designed government. Notice the bolded words. It is the Right of the People, those words are not written as right of the people. Right & People are capitalized.
It is our Right and it is our Duty to stop the destruction. This is not given to the politicians...it is given to us, We the People.
The destruction of our country will continue at the hands of evil until such time as we will decide to take back the power that is the Right of We the People. If one is looking around for someone else to take this responsibility, to lead, to find the way then one is only seeking their next despot.
The security of our Liberty rests with the Will of We the People and the talents we each have available to securing those first Rights.
If God can get by on 10%, a paltry national government should have to survive on less. If that means we have to carve it down to the bare Constitutionally-prescribed bones; make it so. I'm in.
Agree entirely. It will also jump-start biotech, pharma, medical device development, and have an overall ripple effect that will have very positive economic consequences. The problem is that liberal and socialist ideologues, like Obama, care more about 'winning' an ideological victory than they do about the sanctity and well-being of the country.
A couple days ago there was poster claiming to be a political advisor.
He said Republicans and Tea Party folks have to keep repeating facts about the economy. That Obama owns this failed economy. We have to drown-out any other argument but just pound on the failure of Democrats to provide an environment conducive to job creation and getting the economy back on track. Democrats are spending money the nation doesn’t have to spend. We must put people back to work.
Voters want to hear how Conservatives are going to bring America back to work, that we can do it, and tell them how we’ll get out of this mess.
Ronald Reagan talked positively and praised America and Americans. Obama never does.
It is our election and nation to lose this coming November 2012.
S&P - part of the vast right wing conspiracy.
“They are STEALING from me by gunpoint of the federal government”
“Thou shall not steal”
“Thou shall not covet.”
“Thou shall not bear false witness.”
“Thou shall not commit murder.”
The Spirit will not strive with these much longer now.
His Word will not go out in vain.
To raise revenue, cut taxes and pull off all the restraints with which regulations has tied down businesses. Combined with drastically eliminating government departments and programs then yes, we could get our AAA rating back.
We must let the capitalist engine drive this economy out of the abyss.
It is entirely possible.
But a Marxist President will never understand this truth.
We conservatives must take back our government.
BFLR
I’d be surprised if tax increases improved the credit rating. History shows that big governments will always increase spending more than an increase in taxes. Worse is America’s financial future will be much worse with increased taxes, something that should be reflected in the S&P ratings as well.
“And until, We the People realize that again, we deserve the tyranny we get.”
This is absolutely false. Our liberty is God-given.
You cite the Constitution, as you should. But notice the Constitution doesn’t say we “deserve” tyranny in any circumstance.
Makes a lot of sense. The Obama Depression.
Ahh An Double dip Down Grade ,for the African-Commies resume!!!
“this is America, not Europe. We have no tolerance for dictators, no matter the rationale. I don’t believe that Obama could pull it off.”
I have always felt this. It’s like trying to clear a forest with a hundred thousand weed trimmers. For a while they think they’re really making progress, but the weed trimmers just don’t cut deep enough.
Sure, the Marxists plan very carefully, and they calculate, and they organize. But what they are trying to do has never been done.
In any carefully planned strategy, it’s the unknowns that foil your plans. For the Marxists trying to overthrow the United States, there are too many unknowns.
And the unknowns are like the roots of a tree which connect to the roots of all the trees in the forest.
Which agency kept the AAA the day before? That agency is a 100% shill.
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