Obama said today he did not need a credit rating agency to tell him the budget needs to be addressed. He said that we will reveal some of his proposals on how to address the problem. IS he kidding me? Where do I begin. Mr. President, if you knew since taking office you needed to work on the budget, what the hell are you waiting for? Why are you waiting several more weeks to reveal proposals to help the economy? Why, because you have no plan. You have no idea, admit it. You economic advisers have all but one left you. In post interviews, several have come out and said you would not take any on their advice on how to make things better. You need to start listening for what you are doing is not working and all Americans are paying the price.
Several reasonable Obama proposals were rejected thanks to the Tea Tards. He and Boehner came close to a solution more reasonable than the non-solution the House and Senate ultimately reached. You can thank the GOP for the fact that unemployment remains above 9 percent and we are probably facing a double dip recession before even getting past the first dip.
I always like and respect your responses even though I do not always agree with you. But you are not talking with the Ralph logic I know. Tea Tards comment is beneath you.
Show me Obama's proposals other than the 2 budgets he put forward that were voted down, one of the got no votes in the Senate, not 1 Dem voted for it. The tea party did not come along till the midterms. They were voted in because of Obma's economy. The unemployment was not 9 or even 10%, that happened under Obama. So since this all happened before the tea party came along, how is it their fault. And since Obama knew the economy needed halp before the tea party came along, wht did he not address it instead of flying everywhere and give speeches? And if you truly have a proposal, why wait several more weeks after 2 1/2 years of doing nothing to tell the American people what he will do?
I'm not familiar with all the details, but all the news reports said that Obama and Boehner came close to a significant deficit deal, but that the Tea Partiers in the House spun Boehner around over the tax reform part of the deal and sent him back to Obama to kill the tentative deal. The gang of six also made a much better recommendation than the one that passed. The Tea Party House members plus Grover Norquist and his no-tax increase, starve the beast position are what prevented a sensible deficit reduction agreement.
If you want to blame the Tea Party for the economic woes -- because that's what your Keynesian logic demands -- then please to be explaining this chart.
We are clearly re-inflating the same bubble we've been in since 1998.
It's so small I couldn't read it. As far as I can tell the subprime mortgage bubble is a long way from coming back. Unemployment is way too high and factories have quite a bit of unused capacity. And inflation remains low. The economy needs another shot of adrenalin (stimulus). The economic loss due to unemployment cannot be recovered. It's gone forever. In my neck of the woods there are plenty of holes in the roads, and bridges in need of repair. Trying to balance the budget too soon is suicidal. We do need, longer term, to balance our expenses and revenues. Congress's failure to reach a viable plan to do this is why S&P bumped our bond rating down a notch.
S&P cares a heck of a lot less about balancing the US budget than about the perceived inability of our Congress to govern as they have been elected to do. The squabbling and posturing is what got us dinged, not an unbalanced budget.
BTW, the vast majority of Americans support raising revenue AND cutting spending. But the Party of NO -- which obviously does not represent the American People -- said, guess what?
I'll give you three guesses and the first two don't count.
This is absolutely incorrect - the 8-page S&P report clearly stated that a failure to reduce spending could easily lead to to a FUTURE credit rating downsize, and that the failure to increase taxes was part of the reason for the current downgrade.
It went on to say that it seriously is considering lowering the rating unless we get spending back in check. It also says that if we increase interest rates - which will have to happen because they are at 0% right now - that they'll likely downgrade us further.
The report is clear. It isn't just "the Republicans". Get that idiocy out of your head NOW.
The point of the graph was to point out that the parabolic curve that spiked in 2000 shut down, but then was reinflated, and got shut down again, only to be reinflated.
Parabolic curves in value aren't sustainable - any investor can tell you that.
There will be another crash, but the Keynesians are telling us "all is fine".
I must insist that your argument that we need to go further in debt to shoot up the economy -which you can see has failed numerous times in the graph I posted - is nonsense.
QE1 failed. QE2 failed. 3-year long interest rates have failed. The Bailouts have failed.
Give it up, Keynes is wrong.
"There will be another crash, but the Keynesians are telling us "all is fine"."
The Keynesians definitely aren't saying "all is fine." They say that we are headed for another recession unless actions (more stimulus and more Fed bond buying) are forthcoming.
Why didn't he fix the problems when he had a Democratic controlled House and Senate? Before the Tea Party.
He was too busy lining the pockets of his cronies and campaign contributors.
Nobody in Washington is listening to advisors. Nobody. It's not just Obama. It is an epidemic with those people, who supposedly are to be held accountable by their constituents. But since we don't hold them accountable, because we are too lacksidiscal to write our Senators and Congressmen demanding that they work across the aisles and answer to us the people; we only have ourselves to blame. It is not like these a-holes voted themselves to office. We the people did. We are the dumb ones now.
You want to do something about Obama? Do you feel like your problems are not being addressed and heard? Are you naive enough to think that one man is to blame? The American people need to revolt. It is criminal that our Washington reps are not listening to the people!
Talk about convenient amnesia. The very first public pronouncement of the GOP was to bring down Obama and make him a one-termer. Everything else followed from that motive—the flagrant obstructionism in Congress, the echo-chamber of conservative media bellowing calumny, misinformation and often outright lies.
Of course it has become a blame-game; for when the truth is ignored and the vicious attacks go unchallenged, the American populace will believe anything.
blah, blah, blah, blah, blah....
yes they did, no they didn't...
they did it, no they didn't...
and round and round it goes...
. . . and your point—other than to complain?
Her point is to divert attention from the S & P report which explains WHY.
You are looking at the hub equivalent of sticking your fingers in your ears and shouting,
"La, la, la, la - I can't hear you."
Indeed: the reasons why are
"They didn't cut spending enough"
"They didn't raise taxes more"
... that was mind-blowing, right?
No, a forum post does not count as a hub. Otherwise you would have thousands and thousands of hubs?
I don't know what left-wing paper you guys are reading, but according to S&P, they lowered our credit rating partly because of the deficit and spending. Read the last bullet:
http://www.standardandpoors.com/ratings … 5316529563
I don't just blame the Dems. The last R congress spent like drunken sailors. There's enough blame to go around!
Fine. Fixing the deficit will take the cooperation of both parties because democrats will not be excluded from government.
To get anything done, the republican representatives have to learn how to play nice. That means compromise.
In this last round, McConell claimed that the Republican tactics of hostage-taking got the GOP 98% of what they wanted. The S&P rating and the Dow were casualties of those tactics and excuse me if I am not bipartisan in taking the blame.
Yup the idea of finger pointing needs to stop neither side is right. We are in trouble. The elected officials of both parties need to sit down and work it out. Will that happen .. NO. It will not, they enjoy finger pointing at each side to come up with any solutions. We need a leader who leads. i don't see one yet.
It is too bad that the S&P chose to harm the US by making this political statement. It is no secret that the leadership at the S&P gives millions and millions of dollars to the GOP party. This does not mean they are totally wrong though. We have 2 wars going on that we can not afford the bill for. And the government is spending way too much money - money they don't have. The economic problems for the US has been a ticking time bomb that goes back a 100 years. Serious spending cuts need to be made across the board. I also think the salaries of these politicians need to be cut too. These guys get paid a lot of money and take a lot of vacations!
Kids, fixing the deficit is a joke, at this point. It's gotten to the point where the tax revenues can hardly meet the interest on the sucker. PS, Obama did NOT create the deficit in whole; only in part, and only because he felt he HAD to.
Futhermore, we are deluding ourselves if we feel one person is either to blame or can possibly fix this problem.
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