USA Credit Rating Down Graded! Thanks!!

[DJD]

Yeah I probably should have worded it a little differently than I did. Was just thinking maybe this will be the smack in the face we needed to wake us up.

I watched John Kerry and McCain talking yesterday about this and they were both blaming the others party.
I shook my head and thought we are in trouble.

[GeoFisher]

The AAA rating of Fannie Mae and those other companies will probably drop, too, as a result of the country's rating dropping. But in the long term we may end up better off. At least, I don't see it as the catastrophe some are making it out to be. We didn't get downgraded to "junk" status. We're still considered a good credit risk. And S&P isn't the only rating agency out there. Canada and Japan's economies grew 15% and 25%, respectively, in the 12 months after they got downgraded back in the 90's. No, I'm not saying it's a "good" thing, but it's not the end of the world.

Man, you CALLED it..............Fannie and Freddy were downgraded about 30 minutes ago.

AND you're also right about DEVELOPING economies......but we're not supposed to be a developing economy....

I hope it is not too painful today........

300 pts and still falling......but there are some players making BIG moves today..........if you have huge ones, there is money to be made.

[Devils Horse]

Yes 2 terms, and out! 10yrs before you are allowed to lobby.And JAIL terms for the swindlers who instigated that mortgage swindle. If Joe the plumber walked into a bank and stole 100 bucks, he.d go to prison. But white collar swindlers go scott free, and get bonuses.

I thought Mr. Obama was going to do away with lobbyists and change Washington. You remember back when you voted for him don't you? The most transparent administration in history? Maybe that was so many broken promises and outright lies ago we all forgot.

[Devils Horse]

Guess I'm just dim witted!...But thinking we need to elect more responsible individuals to Congress. Ranting and Raving, and blaming all of the governments/peoples problems on the current Pontus solves nothing. We all share some responsibility for the current situation.

What about TERM LIMITS. Think that might go a little bit of the way towards getting things on the right track?

Your posts annoy me because they're so intellectually dishonest. You're far above the fray with your thinly disguised defense of Mr. Obama. You want more responsible people in congress out one side of your mouth and take shots at the TEA party out the other. It ain't passing muster.

The left wing geniuses in the Democrat party and media likening the TEA Party to terrorists is the most reprehensible thing I've ever seen. It will cost them their jobs when those of us who believe in our constitution kick their butts out.

You cannot blame the current economic wreck on anyone except the Obama administration. Mr. Obama's party had total 100% control, and what do they do with it? Change Washington like he promised? Hardly.

They did what liberals always do. Spent money and expanded the government. Fact. Period. End of story. Don't George Bush me either, the corners have been worn completely off that card.

[HURRICANEBOB]

AND you're also right about DEVELOPING economies......but we're not supposed to be a developing economy....

JMO, but at the point we stop developing, we stagnate, and we drop like a rock.

[Tom523]

Thank You Tea Party for standing your ground! Where can I sign up? I'll even set up a regular payment plan to support you!

[Tom523]

Guess I'm just dim witted!...But thinking we need to elect more responsible individuals to Congress. Ranting and Raving, and blaming all of the governments/peoples problems on the current Pontus solves nothing. We all share some responsibility for the current situation.

What about TERM LIMITS. Think that might go a little bit of the way towards getting things on the right track?

Wait a minute. The republicans put their offer on the table and the president put his offer on the table. The president refused the republican offer and the republicans refused the presidents offer. Now you're blaming the republicans for the down grade. Why? They did the same thing the president did. The republican's offer had more cuts to the deficit than the president's offer did and met the requirements that S&P set forth weeks prior. Common sense tells me that if the president would have accepted the republican offer we would not have been down graded. But if we would have accepted the presidents offer we would have been downgraded anyway because his offer didn't cut enough. Plus the president wanted to cut defense spending. I don't know about you but it is not a good feeling running out of ammo in a firefight because of defense cuts. I spent 21 years in the military hearing we have to do more with less. Right now while conducting 2 wars is not the time to cut defense spending.

[Chubminnow]

I think Dave Ramsey broke it down into laymen's terms for us...He said....pretend like the U.S. Government as a typical household family of four....the numbers are as follows;

1. They bring in $58,000.00 dollars per year
2. They spend $78,000.00 dollars per year
3. They have a credit card debt of $327,000.00 dollars
4. After they came up with their spending cut plan they will now spend $72,000.00 dollars per year, but they still only make $58,000.00 dollars per year.

[Devils Horse]

Thank You Tea Party for standing your ground! Where can I sign up? I'll even set up a regular payment plan to support you!

Amen brother.

[Devils Horse]

I think Dave Ramsey broke it down into laymen's terms for us...He said....pretend like the U.S. Government as a typical household family of four....the numbers are as follows;

1. They bring in $58,000.00 dollars per year
2. They spend $78,000.00 dollars per year
3. They have a credit card debt of $327,000.00 dollars
4. After they came up with their spending cut plan they will now spend $72,000.00 dollars per year, but they still only make $58,000.00 dollars per year.

Leave it to Dave to sum it up nicely. Went down and saw him in Nashvegas last year, he is awesome.

I don't care what you make a year, just imagine owing 327K in credit card debt. Holy Moley!

Only problem with the new spending cuts is I personally don't believe they'll really happen until we the voters make some changes in 2012. Our President and Harry Reid won't allow spending cuts.

[mhall]

amen brother.

a second amen!!!!!!!!!!!!!!!!!!!!!

[FlyLie]

Your posts annoy me because they're so intellectually dishonest. You're far above the fray with your thinly disguised defense of Mr. Obama. You want more responsible people in congress out one side of your mouth and take shots at the TEA party out the other. It ain't passing muster.

The left wing geniuses in the Democrat party and media likening the TEA Party to terrorists is the most reprehensible thing I've ever seen. It will cost them their jobs when those of us who believe in our constitution kick their butts out.

You cannot blame the current economic wreck on anyone except the Obama administration. Mr. Obama's party had total 100% control, and what do they do with it? Change Washington like he promised? Hardly.

They did what liberals always do. Spent money and expanded the government. Fact. Period. End of story. Don't George Bush me either, the corners have been worn completely off that card.

I've been accursed of worst things...But still a "moderate republican" and proud of it! However, if the GOP goes too far to the RIGHT, I and other will have no choice but to cross over and vote Democrat in future elections. Can you hear me (us) now?