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Ratings agency Egan-Jones downgrades Obama

  • and the dems. Hey, they are the ones responsible for the out of control spending that led to the U.S. debt downgrade tonight. Things are looking up for Mitt Romney.

    http://www.zerohedge.com/news/egan-jones-downgrades-us-aa-aa-outlook-negative

    bradysmanboobs

  • bradysmanboobs said...

    and the dems. Hey, they are the ones responsible for the out of control spending that led to the U.S. debt downgrade tonight. Things are looking up for Mitt Romney.

    http://www.zerohedge.com/news/egan-jones-downgrades-us-aa-aa-outlook-negative

    This is true!!! America is galvanizing behind Mitt Romney!!! I can feel the Mojo.

    His plan to add another $ 1.2 Trillion in tax cuts on top of 8 years of GEORGE W BUSH'S Wars and EXPLOSIVE debt is a God Send.

    Rock on Bradysman!!!! All is well with the prudent GOP!! Fiscal Conservatives. Mitt Is It!!!!!!!!! banghead

    Buckrock ●

  • Buckrock said...

    This is true!!! America is galvanizing behind Mitt Romney!!! I can feel the Mojo.

    His plan to add another $ 1.2 Trillion in tax cuts on top of 8 years of GEORGE W BUSH'S Wars and EXPLOSIVE debt is a God Send.

    Rock on Bradysman!!!! All is well with the prudent GOP!! Fiscal Conservatives. Mitt Is It!!!!!!!!! banghead

    Upvote for a great response.

    Though often asked, God does not take sides in politics or college football.

    TimMcM

  • A Republican will never balance the budget. They are too obsessed with tax cuts. Obama is killing Romney in the polls in all of the swing states so Romney is not much of a threat. Even the Republicans can't stand Romney. This last week he got a whole bunch of endorsements from big name Republicans. In the interviews none of those that endorsed him had anything good to say about him. When asked why they endorsed him they answered that it looked like he was going to be the nominee so they thought it would be good for the party to get behind him. Rubio could have easily won but he didn't run so I guess the Republicans are out of luck.

    signature image signature image signature image

    ng164300

  • The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president.The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama's four-year term.Mr. Obama blames policies inherited from his predecessor's administration for the soaring debt. He singles out:
    "two wars we didn't pay for"
    "a prescription drug program for seniors...we didn't pay for."
    "tax cuts in 2001 and 2003 that were not paid for."
    Two wars and 8 years=$4.9 tril during Bush.
    One war for 2 years (Iraq), now 4 years for one war (Afghan) 3 plus years= $4.0 tril SO FAR during Obama.

    Neither have lived up to cutting the budget.

    This post was edited by towerofpower on 4/6/2012 at 9:41 AM

    National debt has increased $4 trillion under Obama - Political Hotsheet - CBS News

    Latest figures by Treasury Department show the most rapid increase in national debt under any U.S. president Read more by Mark Knoller on CBS News' Political Hotsheet.

    www.cbsnews.com

    towerofpower

  • Buckrock said...

    This is true!!! America is galvanizing behind Mitt Romney!!! I can feel the Mojo.

    His plan to add another $ 1.2 Trillion in tax cuts on top of 8 years of GEORGE W BUSH'S Wars and EXPLOSIVE debt is a God Send.

    Rock on Bradysman!!!! All is well with the prudent GOP!! Fiscal Conservatives. Mitt Is It!!!!!!!!! banghead

    The debt was $10.626 trillion on the day Mr. Obama took office.

    The debt today is $15,617,723,000,000.00 Trillion.

    George Bush's debt in 8 years or 96 months......Roughly 4 Trillion.

    Barak Obama's debt in 3+ years or 39 months....Roughly 5 Trillion and counting.

    http://hosted.ap.org/dynamic/stories/U/US_GOV_FINANCES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-04-05-16-10-47

    Rock out Buck.

    This post was edited by Demybuck on 4/6/2012 at 10:47 AM

    Demybuck

  • Lets be realistic here. The debt would be sky high regardless of which party is in power. The Congressional Budget Office said the deficit was 1.2 trillion before Obama even took office. Let's say McCain won the election. Is he going to make massive cuts in the middle of a severe recession? I highly doubt he would have because when you make big cuts it sucks money out of the economy and makes the economy worse. The only thing that will come close to balancing our budget is full employment and we are several years away from that.

    signature image signature image signature image

    ng164300

  • bradysmanboobs said...

    and the dems. Hey, they are the ones responsible for the out of control spending that led to the U.S. debt downgrade tonight. Things are looking up for Mitt Romney.

    http://www.zerohedge.com/news/egan-jones-downgrades-us-aa-aa-outlook-negative

    Although I disagree with your statement that this is all O and dems fault,(I figure it about 60 dem / 40 rep) I'm glad to see a fellow ZH'er on here. What a fantastic site. I refresh it hourly to stay abreast of the global ponzi's collapse.

    cincyx

  • Buckrock said...

    This is true!!! America is galvanizing behind Mitt Romney!!! I can feel the Mojo.

    His plan to add another $ 1.2 Trillion in tax cuts on top of 8 years of GEORGE W BUSH'S Wars and EXPLOSIVE debt is a God Send.

    Rock on Bradysman!!!! All is well with the prudent GOP!! Fiscal Conservatives. Mitt Is It!!!!!!!!!

    Versus the liberal strategy of using wealth redistribution to tax and spend our way to prosperity? Good luck balancing the budget on tax increases, alone. What happens when you run out of other peoples' money in creating a nation of takers? How many more people will be on food stamps at the end of Obama's second term, assuming he's re-elected?

    "You're only young once, but you can always be immature."

    excabuckeye

  • excabuckeye said...

    Versus the liberal strategy of using wealth redistribution to tax and spend our way to prosperity? Good luck balancing the budget on tax increases, alone. What happens when you run out of other peoples' money in creating a nation of takers? How many more people will be on food stamps at the end of Obama's second term, assuming he's re-elected?

    Fact. Go back to Reagan. Nixon the "crook" if you want and see who the great spenders are. It's NOT the liberals. Suprised?

    Buckrock ●

  • Buckrock said...

    Fact. Go back to Reagan. Nixon the "crook" if you want and see who the great spenders are. It's NOT the liberals. Suprised?

    I guess you think that the $4T increase in the debt under Obama is Monopoly money and that's in only 3 years.

    pazbuc

  • pazbuc said...

    I guess you think that the $4T increase in the debt under Obama is Monopoly money and that's in only 3 years.

    Tarp, 2 wars, Financial stimulus......These were handed to him Bros!!!

    Buckrock ●

  • Buckrock said...

    Tarp, 2 wars, Financial stimulus......These were handed to him Bros!!!

    Yeah, you are right Obama has really put the brakes on spending. Didn't he promise to cut the deficit in half by the end of his first term? How's that working?

    pazbuc

  • You guys are missing the point. This chart by Moody's explains how the current deficit arose over the past 10 years. Second, if any of you guys have had a basic economics/history class, you would recall that the last president dumb enough to cut spending during an economic downturn was FDR during the Great Depression. If you recall, we were well on the way to recovery until FDR was persuaded to focus on revenue, and this led to a calamitous impact on the overall economy and plunged us to the lowest point of the GD. That's why we didn't surface again until WWII.

    This seems like a plot by some members of the US to put partisanship in front of the country's well-being - by focusing attention on the deficit during a time of recession, they can effectively sabotage Obama's presidency. I have no political pretensions, just calling it as I see it.

    Also, if you pay attention to economics, the IGM economics survey of the most distinguished economists in their fields reveals wide support for both the stimulus and the bail-out. Following the graph below, the two plans didn't even add to the deficit that much, and they're almost uniformly agreed to have averted a 2nd great depression.

    http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_cw5O9LNJL1oz4Xi

    While I agree that fiscal responsibility is very important and a low deficit should be concrete goals for the future, trying to do so during a recession is f-ing r-----ded

    This post has been edited 3 times, most recently by redguard117 on 4/6/2012 at 11:57 PM

    attachment

    redguard117

  • towerofpower said...

    The latest posting by the Treasury Department shows the national debt has now increased $4 trillion on President Obama's watch. The debt was $10.626 trillion on the day Mr. Obama took office. The latest calculation from Treasury shows the debt has now hit $14.639 trillion. It's the most rapid increase in the debt under any U.S. president.The national debt increased $4.9 trillion during the eight-year presidency of George W. Bush. The debt now is rising at a pace to surpass that amount during Mr. Obama's four-year term.Mr. Obama blames policies inherited from his predecessor's administration for the soaring debt. He singles out: "two wars we didn't pay for" "a prescription drug program for seniors...we didn't pay for." "tax cuts in 2001 and 2003 that were not paid for." Two wars and 8 years=$4.9 tril during Bush. One war for 2 years (Iraq), now 4 years for one war (Afghan) 3 plus years= $4.0 tril SO FAR during Obama.

    Neither have lived up to cutting the budget.

    New math?

    The calculation of the debt accumulated under a President does not start the day he takes office. It starts with the spending on October 1 of the year he took office; the day after the end of the last fiscal year of the previous president. This is the way the deficits and additional debt is always figured unless someone, like the nimrod who wrote this article, wants to have a partisan outcome.

    Since I have posted the numbers based upon the correct methodology a number of times on this board, I'll not waste my time looking them up again.

    Though often asked, God does not take sides in politics or college football.

    TimMcM

  • Here's a simple plan for cutting gov't spending that will balance the budget and no new taxes are required. To say new taxes must be part of any plan to balance the budget is a big lie! The spendocrats will never go for it though as it will reduce the size of gov't and make people less dependent on gov't. The spendocrats want more public sector employees and less private sector ones. Their vision of utopia is North Korea, Zimbabwe or Venezuela.

    http://www.downsizinggovernment.org/balanced-budget-plan

    bradysmanboobs

  • bradysmanboobs said...

    Here's a simple plan for cutting gov't spending that will balance the budget and no new taxes are required. To say new taxes must be part of any plan to balance the budget is a big lie! The spendocrats will never go for it though as it will reduce the size of gov't and make people less dependent on gov't. The spendocrats want more public sector employees and less private sector ones. Their vision of utopia is North Korea, Zimbabwe or Venezuela.

    http://www.downsizinggovernment.org/balanced-budget-plan

    Probably a lot of good spending cuts in there but nobody could be elected running on that platform. We have an entitlement society that cannot be denied.

    pazbuc

  • pazbuc said...

    Yeah, you are right Obama has really put the brakes on spending. Didn't he promise to cut the deficit in half by the end of his first term? How's that working?

    he promised a lot of things,,,,,,MORE the same WE can Believe in.....

    minsterbuckeye

  • TimMcM said...

    New math?

    The calculation of the debt accumulated under a President does not start the day he takes office. It starts with the spending on October 1 of the year he took office; the day after the end of the last fiscal year of the previous president. This is the way the deficits and additional debt is always figured unless someone, like the nimrod who wrote this article, wants to have a partisan outcome.

    Since I have posted the numbers based upon the correct methodology a number of times on this board, I'll not waste my time looking them up again.

    we love when you waste your time on us mortals......your knowledge on things continue to impress us everyday......

    minsterbuckeye

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