Republicans CAUSED the credit rating downgrade

Why was the credit rating of the U.S. downgraded by S&P? An S&P director explains in unambiguous terms:

…[O]ne reason the United States lost its triple-A credit rating was that several lawmakers expressed skepticism about the serious consequences of a credit default — a position put forth by some Republicans.

Without specifically mentioning Republicans, S&P senior director Joydeep Mukherji said the stability and effectiveness of American political institutions were undermined by the fact that “people in the political arena were even talking about a potential default,” Mukherji said.

“That a country even has such voices, albeit a minority, is something notable,” he added. “This kind of rhetoric is not common amongst AAA sovereigns.”

In other words, the Republican party has become so fringe, that they jeopardize the fiscal health of the United States.

Yeah…it’s just a minority of Republicans. But the rest of the congressional Republicans didn’t have the intestinal fortitude to stand up to that nut-case minority. Instead, they permitted—indeed, they fully participated in—the process that sank into a chaotic battle of ideology that brought the U.S. to the brink of default.

Congressional Republicans tangibly harmed the U.S. In doing so, they failed to live up to their oath of office.

Comments

  1. 1

    manoftruth spews:

    hey daryl, after the money runs out, and it will, and all the welfare queens and gangbangers atart rioting, are you gonna be like mr strickland in back to the future standing on your porch with a shotgun? oh wait, liberals only want gang members and rosie odonnells bodyguards to have guns. aww, too bad daryl. i you gonna scream like a faggot, i was a good liberal, im just a girly man, i suck up to the cunts at school in the lunchroom, i have a pony tail, i wear plaid shirts, i drive a volvo, i love jews and taxes, i hate george bush (phew)

  2. 2

    proud leftist spews:

    The rapidity with which rightwingers started screaming about the “Obama Downgrade” reveals how the fuckers had planned for the harm they’ve caused. No rational person who gives a shit about facts can blame Obama for S & P’s rating.

  3. 4

    Roger Rabbit spews:

    I wonder if S&P would downgrade a corporation’s credit just because Republicans don’t believe in honoring union contracts or pyaing pension obligations?

  4. 5

    Roger Rabbit spews:

    “they failed to live up to their oath of office”

    Isn’t the first time Republicans were traitors and won’t be the last.

  5. 7

    nwgal spews:

    @1 – Only an eagerly uninformed moron thinks that what the federal government spends on what could, by any stretch be called “welfare” has anything to do with the debt.
    Why do trolls have to be so incredibly stupid?

  6. 8

    Richard Pope spews:

    Roger @ 6

    Interesting race. Pearce’s strongest challenger in the recall election is another Republican, Jerry Lewis. Also, Arizona elects its state senators for only two year terms, which is unusual. Pearce may end up losing this one, especially since it is a winner-take-all election, with no primary, and Democrats will probably vote for Lewis to get rid of Pearce (who is the Senate president).

  7. 9

    manoftruth spews:

    @7
    @1 – Only an eagerly uninformed moron thinks that what the federal government spends on what could, by any stretch be called “welfare” has anything to do with the debt.
    Why do trolls have to be so incredibly stupid?

    seriously? even when i’m only fucking around with a post i still know more than you guys. i was refering to the riots happening in england eventually happening here. the welfare state and the lack of funds is EXACTLY what is happening in england. only 1 in 6 FAMILIES in england work. that is amazing. now england is broke and these people dont want to work. actually i love that you guys deny it, ’cause i wanna see yas all squirm when all hell breaks loose and those gangbangers that you can watch on history channel, you know the ones wearking bandanas over their face, jumping around like wild injuns in front of the camera, waving aks, yeah thems the ones. when they come to loot your neighborhood, i hope you can convince them to stop or else you will organize a “walk for peace”.

  8. 10

    manoftruth spews:

    sorry..sorry…sorry. i said 1 in 6 families work, i meant to say 1 in 6 families dont work.

  9. 11

    Roger Rabbit spews:

    @9 “i still know more than you guys”

    LMAO — you’re a “Know Nothing.” Of course, Know Nothings don’t know what they don’t know.

  10. 12

    Roger Rabbit spews:

    Speaking of knowing nothing, Republicans have learned absolutely nothing since the 1930s, when their policies plunged America into the Great Depression. History does repeat itself:

    “The boasts of Congressional Republicans about their cost-cutting victories are ringing hollow to some well-known economists, financial analysts and corporate leaders, including some Republicans, who are expressing increasing alarm over Washington’s new austerity. …

    “The prospect of further reductions worries forecasters. … In separate interviews, Joel Prakken, chairman of Macroeconomic Advisers, a forecasting firm, and Laurence H. Meyer, … a former Federal Reserve governor, called the reductions ‘job-killing spending cuts’ — playing on Republicans’ mantra against ‘job-killing tax increases.’ …

    “Republicans are resistant. And Democrats are too cowed to counter much, given polls that show many Americans believe Mr. Obama’s 2009-10 stimulus package did not work, despite studies to the contrary. …

    “In a column in The Washington Post on Friday, Bill Gross, who runs the giant bond-trading firm Pimco, lashed out at Republicans and ‘co-opted Democrats’ for setting aside widely accepted economic theory. ‘An anti-Keynesian, budget-balancing immediacy imparts a constrictive noose around whatever demand remains alive and kicking,’ he wrote. ‘Washington hassles over debt ceilings instead of job creation in the mistaken belief that a balanced budget will produce a balanced economy. It will not.'”

    http://www.msnbc.msn.com/id/44.....ork_times/

    Roger Rabbit Commentary: What we have here is economists (including Reagan advisers) and business leaders (Bill Gross is well known to readers of Barron’s investing magazine) lining up to denounce the Tea Party’s economic idiociy.

    The last time debt hysteria swept the country, it propelled Ross Perot, a squeaky-voiced salesman, into one of the most powerful third-party candidacies in U.S. history on the strength of such one-liners as “let’s look under the hood of the car!” Just a few years later, the federal budget was producing surpluses and the government was on its way to paying off the public debt entirely. (Then George W. Bush and a new crew of Republican Idiots (TM) came along.)

    Tiffany doesn’t need more customers. They’re doing fine. The rich, who haven’t suffered like the middle class in this recession, can afford to pay more taxes. And they should. Their tax rates have never been lower. Federal revenues have never been lower, either. We’re told we can’t tax the rich because if we do they won’t create jobs. Well, we’re not taxing the rich, and where are the fucking jobs?

  11. 13

    manoftruth spews:

    @11
    LMAO — you’re a “Know Nothing.” Of course, Know Nothings don’t know what they don’t know.

    oh, now you’re just copying lines from movies. “simon” staring alan arkin….
    “reinstein said ,”i do not know, what i do not know”

  12. 14

    Roger Rabbit spews:

    @13 I don’t watch movies, and I didn’t get that from movies, it’s just simple logic — which, of course, is something a Know Nothing doesn’t understand either.

    Look, son, I have a suggestion for you: Leave economics to people who are serious about it. Bill Gross is a serious guy, and also seriously successful — he manages over a quarter trillion dollars of other people’s money and is himself a billionaire. You’re a nobody.

  13. 15

    manoftruth spews:

    Bill Gross is a serious guy, and also seriously successful — he manages over a quarter trillion dollars of other people’s money and is himself a billionaire.

    lol…the first sign of senility is just blurting out a nonsequeter in the middle of a conversation. who the fuck said anything about bill gross.

  14. 17

    Roger Rabbit spews:

    Now let’s take a close look at some of the “lazy” and “immoral” people who aren’t working in this country …

    “Young and old, well educated and uneducated, they’re all coming here for the same thing: a job at the new area Walmart …

    ‘I’ll take anything,’ many say.

    “On Wednesday, one of those applications was filled out by Andrea Parella … [who] has been out of work … since her company went under. She … fill[s] out up to 25 online applications a day …. The search is like a full-time job … and she says it’s tougher than any paying gig she’s ever had. …

    ‘I just want to work,’ says Parella.

    ” … J, a father of three … didn’t want to give his full name because he already has a job at Home Depot. … He receives no health insurance through the job, and the pay isn’t enough to support his family. His goal is to work night shifts at Walmart on top of his hours at Home Depot, for more than 70 hours total.

    ‘It’s very necessary,’ says J. ‘I’ll take anything.’

    ” … Tara Durnell, a 37-year-old mother looking for work at Walmart … gets just one day a week at a Yankee Candle store in the mall, and a few more hours cleaning up a doctor’s office.

    ‘I love to work. I don’t like sitting at home. This isn’t me,’ she says.

    http://www.huffingtonpost.com/.....24419.html

    Roger Rabbit Commentary: These are the people our friend “manoftruth” calls “welfare queens.”

    Shut up and go watch your movie, MOT. You have no credibility here.

  15. 18

    Roger Rabbit spews:

    If our wingnut friends want to bash unproductive leeches who simply suck blood from the system, they should go after me: I’m lazy. I don’t work. I produce nothing. All I do is sleep until noon, then sit on my fat rabbit ass in front of a computer screen, and flip stocks for the last hour of every trading day.

    But they don’t dare go after me, because I’m one of them — a capitlist. Like all capitalists, I get paid for owning stuff, not for working — and owning pays MUCH better than working!

    They’ll never attack what I do for a living, becaue any criticism of me is a criticism of capitalism, and that’s unpatriotic.

  16. 19

    Roger Rabbit spews:

    Republicans can’t accuse me of causing the credit downgrade, either. I have perfect credit. I have no debts.

    But creditors hate me anyway, because I never borrow, so they can’t make a penny from me.

    That earned me a downgrade, but not from Standard & Poor’s. A local bank hired a security guard to throw me out when I hop in for the free coffee, even though I’m a customer. I signed up for their free checking account.

  17. 20

    Puddybud, traveling again visiting great American cities spews:

    Okay leftist morons let’s play the blame game:

    David Beers, global head of sovereign and international public finance ratings at S&P, told “Fox News Sunday” that governments and Congresses come and go, but spending on entitlements persistently drags U.S. debt further into the red.

    “The key thing is, yes, entitlement reform is important because entitlements are the biggest component of spending, and the part of spending where the cost pressures are greatest,” Beers said.

    Now who won’t come to the table and discuss entitlement programs… DUMMOCRAPTS.

    …entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.”

    It’s your leaders who won’t deal honestly!

    Didn’t Obummer claim he was willing to “put everything on the table” and “get serious” about entitlement spending; yet he NEVER offered a plan?

    Yet John Chambers told ABC’s This Week With ABC’s Latest Libtardo Reporter, President Obama’s National Commission on Fiscal Responsibility and Reform of last year with Erskine Bowles and Alan Simpson “had plenty of sensible recommendations” for reducing U.S. debt. Guess what? All those recommendations, which included cutting spending and increasing revenues on a 3-1 ratio, were ABSOLUTELY ignored.

    You can all look these up as I am not your link deliverer. You can always depend on the arschloch though!

    Now who is John Chambers? Well, Managing Director of S&P

    So let’s clear the air and call it as it really is!

  18. 22

    Steve spews:

    “A local bank hired a security guard to throw me out”

    That puts you one up on the congressional Republican job creation plan. Oh, wait, there is no Republican plan.

  19. 24

    K spews:

    Pud @ 20- Obama put entitlements on the table. Boehner walked away because he would not talk revenue

  20. 25

    czechsaaz spews:

    @20

    Oh Piddly. Only in your fantasy world are things clear that entitlements must be cut. (Hint the word Chambers uses is reform. He also specifically said Rs “no to all revenue” and willingness to try default are real reasons that you want us all to ignore.)

    So what shape could reform take? How about eliminating the cap on wages/earnings subject to Social Security taxes. Many economist believe this action alone would solve any Social Security shortfall.

    How about opening medicare up to all? I get that economics of scale are lost on you but if every single adult American were paying into the same health insurance plan, the cost would be lower. Think, 311m people, how many are pediatric or seriously ill requiring regular or expensive healthcare? There’s reform that saves.

    How about allowing medicare negotiate a volume discount for prescription drugs? Why is it that my father’s blood pressure medication is $450/month at Rite Aid but a year’s supply can be purchased in Cebu and shipped by a relative for $600/12mos. Couldn’t be that was a giveaway to a powerful lobby, no?

    So sure, S&P says there must be reform. I’m all for reform. Reform ≠ cut.

  21. 26

    spews:

    20. Puddybud, traveling again visiting great American cities spews:

    So let’s clear the air and call it as it really is!

    08/13/2011 at 5:40 am

    OK, fine…

    This puddybitch, this mother fucking Uncle Tom asshole wants to crash the economy and destroy America. He and the crazy-ass jerkoff “ignorami” he supports will replace the democratic republic that our founders created with a theocratic dictatorship.

    THAT’S how it really is…

  22. 27

    Roger Rabbit spews:

    @20 Ah yes, in PuddyWorld, granny’s social security check is the Great Evil that put millions of Americans out of work.

    What a tool.

  23. 29

    Steve spews:

    There are over 1.6 million Medicaid gannies and grandpas in America’s nursing homes.

    http://www.efmoody.com/longter.....stics.html

    Only a psychopathic loon would want to see them all thrown to the streets just to save himself a few dollars in taxes.

    “Death Panels”. Wingnuts always project too much, don’t they? Someone once said it’s a Psych 101 thing. We all know who really wants to pull the plug on Grannie. And they’re just itching to do it.

  24. 32

    this thing is gonna do some damage spews:

    good ole rujaxoff is always good for a couple of racist or sexist comments a week.

  25. 33

    Michael spews:

    @29

    The funding for some of those folks is so low you can hardly blame places for not excepting them. No nursing home or adult family home is going to take someone in when they’re only going to get $40 a day to take care of them. I couldn’t take someone in for $40 a day and we’re a non-profit! Thankfully, that’s a real minority of people who’s funding is that low.

  26. 34

    Michael spews:

    @33
    This looks like a good break down of things. I just scanned it real quick, haven’t read it.

  27. 36

    manoftruth spews:

    @33
    I couldn’t take someone in for $40 a day and we’re a non-profit!

    of course, you work for a non profit michael. my point has always been, all u libtards here are either jewish, gay, work for a union as someplace, like a nonprofit that relies on taxes in someway. . why dont u get a real job.

  28. 37

    Roger Rabbit spews:

    @36 Have you ever worked the night shift in a nursing home, MOT? No, didn’t think so, you’re not man enough.

  29. 38

    spews:

    32. this thing is gonna do some damage spews:

    good ole rujaxoff is always good for a couple of racist or sexist comments a week.

    08/13/2011 at 4:52 pm

    emperor max-minidick is always good for a chuckle…what a clown!!

  30. 39

    Michael spews:

    @36
    Judging by what you post I’ve always assumed you lived in a group-home. Maybe, I’ve known you on a professional basis in the past?

  31. 40

    manoftruth spews:

    @37
    @36 Have you ever worked the night shift in a nursing home, MOT? No, didn’t think so, you’re not man enough.

    lol…did i ever work in a nursing home? no. and i never worked as a trash collector or janitor either. at least i went to school and got a real job. not former 60’s drug addict work.

  32. 41

    Michael spews:

    And actually, it was $47, not $40. I was talking to some folks that run a really nice adult family home near my house and they’d gotten a call from Western State, “could they take in a crazy old guy for $47 a day?” Of course they said no.

  33. 42

    Michael spews:

    @40

    I know how to run a group-home for autistic adults. My guys get great care, they eat great food, the community loves us. They have great lives. I have a great life.

    Why would a care what some nazi thinks? Because that’s what you are. You’re a nazi. You’d probably gas my guys to death. That’s what the Nazi’s did to people like them, after all.

  34. 43

    Michael spews:

    @41
    I point this out, to point out how crazy some of the people in the USA are. The Republicans and the Tea Baggers more so than most, but it’s not confined just to them.

    People just do not understand how much things cost. Everyone wants great care for their grandma, they want great care for their autistic cousin or nephew, but they only want to pay $47 a day for it and you just can’t do it for that.

  35. 44

    Michael spews:

    I used to work with mentally ill folks. I had a few clients that made the kind of statements that MOT does. Really dude, medication and therapy can do wonders.

  36. 45

    Puddybud, traveling again visiting great American cities spews:

    Pud @ 20- Obama put entitlements on the table. Boehner walked away because he would not talk revenue

    In general terms K. Never was there a “proposal” on paper. Remember the Carney whitey house conference I posted where he said the president doesn’t have a proposal?

    Oh you missed it? Contact the HA arschloch!

  37. 46

    Puddybud, traveling again visiting great American cities spews:

    Oh Piddly. Only in your fantasy world are things clear that entitlements must be cut. (Hint the word Chambers uses is reform. He also specifically said Rs “no to all revenue” and willingness to try default are real reasons that you want us all to ignore.)

    So what is reform checksez? The budget has a nominal 8% increase a year in entitlements whether the cost of living increases 1% or 6%.

    So what shape could reform take? How about eliminating the cap on wages/earnings subject to Social Security taxes. Many economist believe this action alone would solve any Social Security shortfall.

    What about all those DUMMOCRAPTS who raided the Social Security fund to cover their congressional budgets from 1954 to 1994 and from 2007-2011?

    How about opening medicare up to all? I get that economics of scale are lost on you but if every single adult American were paying into the same health insurance plan, the cost would be lower. Think, 311m people, how many are pediatric or seriously ill requiring regular or expensive healthcare? There’s reform that saves.

    To illegals too?

  38. 48

    Puddybud, traveling again visiting great American cities spews:

    This puddybitch, this mother fucking Uncle Tom asshole wants to crash the economy and destroy America.

    Once again the dumb misogynist ASSwipe is projecting is useless foolhardy commentary on HA. Where did Puddy say that?

    All Puddy wrote was the S&P comments from S&P people. You see when facts hit the eyes of this leftist tool, his head explodes.

    ROTFLMBBAO at this fool’s lunacy!

    Toooooooooooooooooooooo

    Damnnnnnnnnnnnnnnnnnnn

    Fuuuuuuuuuuuunnnnnnnnny

  39. 49

    Puddybud, traveling again visiting great American cities spews:

    @20 Ah yes, in PuddyWorld, granny’s social security check is the Great Evil that put millions of Americans out of work.

    And where did Puddy say this Roger Dumb Rabbit? You can ask the HA arschloch for help!

    PROVE IT Roger Dumb Rabbit!

    In Roger Dumb Rabbit everyone would be as senile and forgetful as he is!

  40. 50

    Puddybud, traveling again visiting great American cities spews:

    Only a psychopathic loon would want to see them all thrown to the streets just to save himself a few dollars in taxes.

    And only someone drunk on his own Stupid Solution Sauce would assume that.

    PROVE IT moron.

  41. 51

    czechsaaz spews:

    Nice to see Piddly back in form. @46 In Piddly world, Social Security is just a worthless bunch of IOUs. I’m not the first to say, if you think they’re worthless (full faith and credit…) I’d be happy to take them off your hands at $.10 per dollar of face value. Deal?

    No substantive retort to a simple medicare reform. Just “Dad-Gum Illegals! Rauggh! Scare! Brown people, raugh! Harumph.”

    BTW, back to the “It’s Congress not the President’s fault” today, Piddly? So you agree 100% that it’s John Boehner’s republican house and the filibustering Republican Senate minority who caused the downgrade? Consistency Piddly. Have YLB look it up for you.

  42. 52

    manoftruth spews:

    @42
    Why would a care what some nazi thinks? Because that’s what you are. You’re a nazi. You’d probably gas my guys to death. That’s what the Nazi’s did to people like them, after all.

    you know michael, i dont want to gas anybody, because i dont want to go to hell. which is more than i can say for people who i know you defend, abortion doctors. so here’s the irony. you call me a nazi and a possible murderer, yet i have not murdered. but the people you like, abortion doctors have. thats ironic, to me.

  43. 53

    Michael spews:

    @52
    How else would I address anyone who exposes the same things the nazi did, but by calling them a nazi?

  44. 54

    Michael spews:

    . you call me a nazi and a possible murderer, yet i have not murdered.

    Of course you haven’t. If you had, you’d be in prison instead of the group-home. Man, they really need to have staff monitoring your use of the internet.

  45. 55

    manoftruth spews:

    @54
    Of course you haven’t. If you had, you’d be in prison instead of the group-home.

    that is not entirely true michael. a woman was found bound and hung at the home of jonah shacknai, millionare pharmaceutical company owner, and former democratic congressional aide. and apparently, for some amazing reason, the da has yet to charge him. hmmmm, i wonder if we could guess why. so, i beg to differ,michael. in this country, if you are rich, jewish and democratic, the trifecta, you can literally get away with murder.

  46. 56

    Michael spews:

    I’m listening to Alisa Weilerstein. I pulled up her music, special , just for MOT. Unlike MOT, toiling in his undies, unloved, and friendless, in his small apartment, Alisa Weilerstein and her music are loved all over the world.

  47. 57

    Michael spews:

    @54

    Of course you haven’t. If you had, you’d be in prison instead of the group-home.

    that is not entirely true michael.

    Yes, but even if that were true you are none of those things, so if you had killed someone you’d be in prison instead of the group-home. It’s 9.00PM, time for you to head upstairs to the kitchen for your meds.

  48. 58

    manoftruth spews:

    @42
    I know how to run a group-home for autistic adults. My guys get great care, they eat great food, the community loves us. They have great lives. I have a great life.

    lol..so, i’m guessing the inmates dont foot their own bill, so who pays? oh yeah, i do. how self serving of you to demand continued taxation of me so you can continue to make your living and , as you said “lead great life”.

  49. 59

    Liberal Scientist wonders why Republicans hate America spews:

    how self serving of you to demand continued taxation of me so you can continue to make your living and , as you said “lead great life”

    Republican nihilism on full display.
    The unrestrained id, the unfailing sense of victimhood, the rejection of any social compact or responsibility to take care of the least among us, through shared, public means. AND total resentment that anyone should be happy and fulfilled doing good work, as opposed to devoting themselves to exploiting people and making more MONEY. MORE. FOR ME.

    How dare you, Michael, be happy?

    What we’re seeing, I think, is an especially sick strain of Calvinism (the sneaking suspicion that someone somewhere is having fun), leavened with sociopathic tendencies and iced with an especially virulent and hateful form of libertarian capitalism – the latter essentially a failed adolescence and stunted moral development mated to unalloyed greed and willful ignorance.

    Mmmmmm, Tea Party, anyone?

  50. 61

    Michael spews:

    @59
    No, more like Nazi party. What would we do if we didn’t have programs to help take care of these guys? None of my guys have family that are able to take care of them and no one’s going to take them in for free. The guy’s a Nazi.

  51. 63

    spews:

    48. Puddybud, traveling again visiting great American cities spews:

    This puddybitch, this mother fucking Uncle Tom asshole wants to crash the economy and destroy America.

    Once again the dumb misogynist ASSwipe is projecting is useless foolhardy commentary on HA. Where did Puddy say that?

    All Puddy wrote was the S&P comments from S&P people. You see when facts hit the eyes of this leftist tool, his head explodes.

    ROTFLMBBAO at this fool’s lunacy!

    Toooooooooooooooooooooo

    Damnnnnnnnnnnnnnnnnnnn

    Fuuuuuuuuuuuunnnnnnnnny

    08/13/2011 at 6:44 pm

    Maybe the legacy of his “collective body of work” is getting to him…

    …or maybe it’s the cumulative effect (per Ellen White) of the puddybitch’s excessive onanism.

    Too early to tell?

  52. 64

    spews:

    I wonder if the puddybitch wants to share with the class who his jesus wants thrown in the street…or who should not be fed?

  53. 65

    ArtFart spews:

    @1 “hey daryl, after the money runs out”

    Well…no, it won’t, because the government can print as much as it wants to. That, like it or not, is what the Federal Reserve is for. Look at how Wall Street went into a panic after the S&P announcement and then went back to being all fat, dumb and happy as soon as Bernanke announced that he’d keep feeding the big banks truckloads of virtual greenbacks at zero interest.

    Mind you, the inevitable result is that inflation will continue galloping through the household budgets of the poor and middle class like the Four Horsemen of the Apocalypse.