Comments on: Tea Party downgrade? Here’s what S&P actually said http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/ Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: BowMtnSpirit http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7491 Thu, 11 Aug 2011 19:59:14 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7491 @ xit007: Actually, Bugs might be just the ticket. Being a cartoon character, if he did nothing at all, it would be an improvement over the counter-productive actions of our “representatives.”

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By: BowMtnSpirit http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7490 Thu, 11 Aug 2011 19:56:37 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7490 @ gatormba2003: You are sort of right. Social Security went cash-negative for the first time last year. However, because of the money borrowed out of the fund by the USG, SSA holds treasuries in large numbers, which they can use to fund the difference as the bonds mature, plus some. But that assumes they are permitted to do that. SSA should NOT be contributing to the deficit (so you are sort of wrong, too), but to the extent the USG prefers other creditors over SSA, then the USG actually CREATES an impact on the deficit by SSA.

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By: xit007 http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7489 Thu, 11 Aug 2011 19:44:44 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7489 I have become an independent because of the Republican political establishment refuses to make the changes necessary- there is a protectionism of both parties campaign donors – while the country goes to hell in a handbasket. Senators and Congressmen – are managers of our Federal budget and use this power to enrich cronies – we have been corrupted – slowly but surely. Government has become unable to manage itself fiscally – and places an unsustainable burden on us. We need to take the medicine and quit crying – I don’t care if bugs bunny ran for president – as long as he would move the country to a balanced budget and financially stable place.
It is no longer about how we got here – it is about what we do to make the future more secure. Cut government spending ASAP, cut partisan loopholes, and stop the government from running anything – just keep the playing field fair for all.

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By: Bert2 http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7481 Thu, 11 Aug 2011 14:05:43 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7481 Remember, before George W. Bush took over, the US had a budget SURPLUS (remember those debates between him and Gore on what to do with it?). When he left, we had a deficit (and the wars were not even counted in the budget – Obama added those for transparency). He put some bad policies in place for which we are still paying. So republicans should own up to their past mistakes.

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By: kiowa351 http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7477 Thu, 11 Aug 2011 12:56:56 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7477 the republicans are positioning for the ’12 elections. their contempt for americans, and the rule of law is blatantly clear in such a way as never seen before. they don’t bother to tell “good”lies any more. Their conjoined relationship with the wealthy is as obvious as a toothache. these people clearly despise any idea of democracy, and clearly have no mind to become bipeds again. the US is morally, spiritually, and ethically bankrupt. the government does not represent the people. they haven’t read the preamble to the Constitution which clearly states the provision for the welfare of the people. It wasn’t the people who created this debt. But they didn’t stop them either. IF america doesn’t put ALL of it’s mindless issues aside and join together to stop the governmental madness, no one, nor nothing else will.

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By: Laughter http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7472 Thu, 11 Aug 2011 11:25:41 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7472 I read the S&P report. It was fairly partisan. It sounds like the report wants to encourage more compromise by the Republican party. But given the report, you have to then ask, “What steps need to be taken to restore the AAA rating.” Because if the Republican’s compromise, then we’ll just be left with bigger and bigger spending. Historically, when the Republican’s have compromised on allowing taxes to be raised in exchange for future spending cuts, the taxes are raised but the future spending cuts never materialize. So, if the Republicans had compromised this time and allowed taxes to be raised, we’d just be left with larger and larger deficit spending. Which is what drove us into this AA+ ditch in the first place. No, it is time for a line in the sand with regards to govt spending.

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By: gatormba2003 http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7432 Wed, 10 Aug 2011 20:33:03 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7432 Social Security isn’t a contributor to the deficit? That is not true at all. How did this get published?

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By: KaizerSoze http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7431 Wed, 10 Aug 2011 20:26:27 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7431 The CEO of S&P’s parent company is a long time supporter / employee of right-wing politicians so making the democrat look bad is all in a day’s work. Seizing power is their only aim – if it benefits ALEC, then let’s enact it. We’ve been heading this direction for a while.

“I see in the near future a crisis approaching that unnerves me and cause me to tremble for safety of my country; corporations have been enthroned, an era of corruption in High Places will follow, and the Money Power of the country will endeavor to prolong its reign by working upon the prejudices of the People, until the wealth is aggregated in a few hands, and the Republic destroyed.”
— Abraham Lincoln, in a letter to Col. William F. Elkins, Nov. 21, 1864

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By: RoyHaynesNY http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7411 Wed, 10 Aug 2011 19:01:31 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7411 Calling it a Tea Party downgrade is like blaming a 9-1-1 caller for the fire they are reporting or -you should pardon the expression – blaming Paul Revere because the Red Coats were coming!

The Tea Party didn’t spend one dime of money it didn’t have & supported both the Ryan Budget & Cut, Cap & Balance, both of which, according to S&P, would have met their standard of cutting $4T over the next 10 years.

This is nothing more than the Obama team & their supporters in the ENE-Media, trying to shift the blame for their failed efforts to fix the lousy US economy and their historical levels of debt & deficits. It’s always someone else’s fault with these guys.

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By: TomJx http://blogs.reuters.com/reuters-wealth/2011/08/10/tea-party-downgrade-heres-what-sp-actually-said/comment-page-1/#comment-7405 Wed, 10 Aug 2011 18:44:44 +0000 http://blogs.reuters.com/reuters-money/?p=18113#comment-7405 It’s the ‘tax entitlements’ – loopholes, deductions and credits – which I want to see reformed. Why should others have to subsidize (aka ‘make up the difference’) for those who paid lobbyists to ge those entitlements into the tax code?

There’s no such thing as a free lunch.

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