US Credit Rating Just Got Dropped FROM AAA to AA+ by S&P

[TexasT]

Standard & Poors, the ones that did the downgrading, can kiss my ass. Just hours before they did it, it was discovered their math was off by about two trillion dollars! They fessed up and still did the downgrade. Would have been nice to take a few days to re-assess.

Companies pay S&P for their credit ratings, which makes them suspect. Companies like Enron, which had a AAA rating at the time of their collapse. Companies like Credit Suisse, which lost hundreds of millions of dollars in 2007-8, because investors trusted S&P's AAA rating for them and many other of the banks/investment houses that failed.

There are two other major credit rating companies, Fitch and Moody's, which I trust a hell of a lot more than S&P. I certainly hope tomorrow's investors do, as well.

[surcher]

Originally Posted by Fast Gunn

I had heard talk about the possibility of this downgrade happening several months ago on NPR, but I thought it was only political BS intended to bring pressure and resolve the debt ceiling debate.

There was really no need for the debate to drag on as long as it did, but a small group of Republicans, namely the accursed Tea Party were able to hold the debit ceiling hostage to further their agenda.

All we did with this charade was show the world how poorly we can govern ourselves and came so close to the abyss that we nearly fell into it.

The preponderance of the financial mess the US is in today came about from the idiotic policies and moronic wars the cowboy we had in office instigated. The minute the war in Iraq was even considered, I was totally opposed to it, but at the same time was completely mystified that so many of my otherwise intelligent friends thought this war was something that we just had to do.

That was total bullshit!

Not only did that foolish war cause a huge drain on our budget, it actually served as a recruitment tool for Al-Qaeda. If all that money had been funneled into fixing the US economy we would not be in the mess we are in.

. . . But, as the old saying goes, "if wishes were horses, poor men would ride."

Now, we have to wake up and restore order to our financial house.

President Obama has a mighty tall order to fulfill to restore this country to its greatness and I wish him all the best because he has many, many obstacles thrown in his path.

I agree with you about the Tea Party and wont call them teabaggers cause it's and enjoyable act many ladies here provide. They held up congress and the GOP with compromise not in their vocabulary. Hell, most who were elected probably don't care if they get a second term as long as Obama doesn't. Obama's decision making is trying to kiss ass and get the other side of the aisle to work with him and they're dead set on doing exactly the opposite.

As for the was, not only did I oppose it, but I told my father and other republican friends that Saddam is not stupid. If he has WMD's he'll get rid of them, because if we go in on the premise he has them and don't find any, regardless of the military outcome Saddam wins, especially in the mid east, while the rest of the world wonders why.

[Guest040616]

Originally Posted by Fast Gunn

President Obama has a mighty tall order to fulfill to restore this country to its greatness and I wish him all the best because he has many, many obstacles thrown in his path.

That is probably the single, best statement I have ever read in the political forums. I salute you my friend!

[Jackie S]

Indeed President Obama has some major obstacles to overcome, the biggest being the fact that he has no clue what so ever how a Private Sector Economy works, since his entire adult life as either been in academia or some type of "government service".

[surcher]

Originally Posted by Jackie S

Indeed President Obama has some major obstacles to overcome, the biggest being the fact that he has no clue what so ever how a Private Sector Economy works, since his entire adult life as either been in academia or some type of "government service".

While there is some legitimacy to this statement, his lack of private sector business experience is not even close to his biggest obstacles. The biggest are the GOP and the Tea Party. They're actions have shown they will not work with him and would see him fail before helping him try to solve anything, which includes harming this country.

[Fast Gunn]

When Barack Obama first came on the national scene, I thought he was a likeable guy, but who had absolutely no chance of being elected to the highest office.

However, I decided that I really should delve more deeply into his background before I wrote him off.

I read all of his books and listened to all of his audio tapes and little by little I realized that here was the man that this country needed the most at this very critical stage.

I would say that you like many others have not bothered to really know President Obama.

President Obama has that charismatic quality that President Kennedy had of bringing hope and to inspire this country and has an intellect of the highest caliber.

But managing a country wisely is the most demanding job there is with so many diverging interests and entrenched politicians who just can't stand that a black man is running the country.

There are too many people who would have voted for a monkey if the Republican party had put one up in the last election rather than voting for a black man, but the color of a man's skin does not determine his character or intelligence or dedication to his country.

. . . Right now for the sake of the country, I believe that everyone should support President Obama in this most difficult time.

Originally Posted by Jackie S

Indeed President Obama has some major obstacles to overcome, the biggest being the fact that he has no clue what so ever how a Private Sector Economy works, since his entire adult life as either been in academia or some type of "government service".

[wellendowed1911]

Guys like Surcher and Jackie S and Big Tex- I can admire because they may not be supporters of Obama hell they might not even vote for him in 2012- but at least they wish him Godspeed and much success because this is a big ordeal.
However, people like Whirlway just wants bad things to happen on Obama's watch and he brags about when bad things happen- it's not a good thing that America's rating decreased- it hurts all of us, but people like Whirl likes when bad things happen to this administration.
Recall it was the Tea party who went on record and said if the debt ceiling isn't raised it's no big problem- that's probably why Boehner bullshitted to the last minute and look at the results. The Tea party is destroying this country more than Obama ever will- and all of this will back fire. As much as I hated Bush I wanted good things to happen under his administration- unlike Whirlaway I didn't brag when bad things happened to this country.

[Doove]

Originally Posted by Jackie S

Indeed President Obama has some major obstacles to overcome, the biggest being the fact that he has no clue what so ever how a Private Sector Economy works, since his entire adult life as either been in academia or some type of "government service".

That's what advisors are for.

I suspect he's learned enough in the last 3 or 4 years on the matter to where he could school you on private sector economies.

And since i'm sure you'll now take the opportunity to tell us all how much money you make in your business, i'll point out that "a business" is not necessarily synonymous with "a private sector economy".

[Iaintliein]

Nope, you can either support the country or the guy trying to drag it down, you simply can't do both. Socialism doesn't work, never has, never will. To paraphrase Margarete Thatcher, the socialist have already run out of other people's money.

Originally Posted by Fast Gunn

When Barack Obama first came on the national scene, I thought he was a likeable guy, but who had absolutely no chance of being elected to the highest office.

However, I decided that I really should delve more deeply into his background before I wrote him off.

I read all of his books and listened to all of his audio tapes and little by little I realized that here was the man that this country needed the most at this very critical stage.

I would say that you like many others have not bothered to really know President Obama.

President Obama has that charismatic quality that President Kennedy had of bringing hope and to inspire this country and has an intellect of the highest caliber.

But managing a country wisely is the most demanding job there is with so many diverging interests and entrenched politicians who just can't stand that a black man is running the country.

There are too many people who would have voted for a monkey if the Republican party had put one up in the last election rather than voting for a black man, but the color of a man's skin does not determine his character or intelligence or dedication to his country.

. . . Right now for the sake of the country, I believe that everyone should support President Obama in this most difficult time.

[WTF]

Bush was a much better President his second term than he was his first. The same will be said of Obama if he gets re-elected. Carter would have gotten the glory that reagan got. That was a business cycle that caught Carter. With or without Reagan the economy would have turned around.


FastGunn....I can't say as I agree with your POV on a certain person that shall remain nameless but your last two post were pretty damn good. You might need to go rethink them now that I am agreeing with ya!

[IIFFOFRDB]

Originally Posted by wellendowed1911

Guys like Surcher and Jackie S and Big Tex- I can admire because they may not be supporters of Obama hell they might not even vote for him in 2012- but at least they wish him Godspeed and much success because this is a big ordeal.
However, people like Whirlway just wants bad things to happen on Obama's watch and he brags about when bad things happen- it's not a good thing that America's rating decreased- it hurts all of us, but people like Whirl likes when bad things happen to this administration.
Recall it was the Tea party who went on record and said if the debt ceiling isn't raised it's no big problem- that's probably why Boehner bullshitted to the last minute and look at the results. The Tea party is destroying this country more than Obama ever will- and all of this will back fire. As much as I hated Bush I wanted good things to happen under his administration- unlike Whirlaway I didn't brag when bad things happened to this country.

1- All 3 are going to vote for Obama. IMO

2-Whirlaway is doing his patriotic duty. IMO

3-Same as the Tea Party.

[Doove]

Originally Posted by Iaintliein

Nope, you can either support the country or the guy trying to drag it down, you simply can't do both. Socialism doesn't work, never has, never will.

No matter how many times you cry "socialism", it ain't gettin' any more true.

[JONBALLS]

Originally Posted by JONBALLS

no difference between you and MARSHALL..
maybe except you can't even spell your insults correctly.None of you all are any diffrent .

Originally Posted by WTF

I was responding to this post.....






I would suspect you can not see the difference. You only see one side of things.

I treat people who are respectful and I treat assholes like assholes.

In other words, I treat people how they treat others. So if you want any respect from me, start showing some. Until then go get a kleenex. Oh andTake your spell check and stick it where the sun don't shine

as usual you dont read my posts carefully.You conveniently missed the ALL OF YOU part.I dont ever want or need your "respect", do whatever you will...

[JONBALLS]

Originally Posted by Doove

No matter how many times you cry "socialism", it ain't gettin' any more true.

more like Lenin..

[surcher]

Originally Posted by IIFFOFRDB

1- All 3 are going to vote for Obama. IMO

2-Whirlaway is doing his patriotic duty. IMO

3-Same as the Tea Party.

If McCain hadn't changed from what he was in '04, turned into a yes man for the GOP and a Bush follower to garner votes, I may have thought about him as a candidate. But, when he added Palin to the ticket respect was lost.

I was shocked Obama won over Hillary. I would have voted for her, because she'd been there and knew how things worked. The sheer volume of hate filled, disparaging emails about her forwarded to me by every republican friend, prior to and during the democratic campaign and nomination, was worse than the stuff I got about Bush. She was vilified. Did that have anything to do with her losing the nomination? Probably not, but it showed me how scared the republicans were she would be president and how badly they didn't want that. Well, Obama won and before he was elected the same type of emails started coming about him. Quite a few were racial and in less than a year I'd gotten more on him than I did Hillary in 2 1/2 years and it hasn't slowed.

I voted for him over McCain and Palin. In fact, quite a few of those same republican friends had had enough of their own party after Bush and the republicans had two wars, out of control spending, scandals and bad government. Their words for voting for Obama, not mine. Some of them had never voted democrat before.

Do I think Obama is doing well? A few things, yes...overall I'm disappointed. He should have been more like Bush and said I don't give a fuck what you think and done what he claimed during the election, while the dems held both houses. Instead, he tried too hard to work with republicans and tried bipartisanship. He's finally coming to the realization, a little too late, no matter what he does or how much he compromises, the right will shoot him down. The Debt Ceiling and the threat of government shutdown are two most recent. They were willing to risk not paying the soldiers and their families rather than work with Obama. What did Obama do? He caved on the Bush tax cuts rather than see the troops go unpaid.

Will I vote for him again? If the Tea Party keeps holding the GOP hostage and both are unwilling to help get us into a better economic situation, then yes. We will see the people tire of the Tea Party. Since the polls are blaming the republicans for holding us back, those house seats will become controlled by the democrats again and despite the reps efforts and hope Obama fails, he'll get a second term.

The Tea Party isn't being patriotic, they're being self serving without compromise. Without compromise nothing will get done and the uncompromising will be blamed.