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The Road To A Downgrade

 
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Old 07-28-2011, 03:34 AM   #1
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The Road To A Downgrade


The Road to a Downgrade

An article in today's Wall Street Journal giving a brief history of our current debt crisis.

http://online.wsj.com/article/SB1000...pinion_LEADTop

Last edited by thom; 07-28-2011 at 08:31 AM.
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Old 07-28-2011, 09:18 AM   #2
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Re: The Road To A Downgrade


Great read!

The jist of it is that we simply have "too many ticks on the dog". The dog can no longer hunt, & may in fact die.

Why can't the general public see this?

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Old 07-28-2011, 09:32 AM   #3
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Re: The Road To A Downgrade


A down grade is what we need.
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Old 07-28-2011, 11:27 AM   #4
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Re: The Road To A Downgrade


The problem with the idea of a downgrade is what we need is that the fat hogs wont accept a downgrade for themselves, it will be the old and middle class America that funds it.
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Old 07-28-2011, 11:41 AM   #5
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Re: The Road To A Downgrade


Quote:
Originally Posted by Mike Finley View Post
A down grade is what we need.
So far Mike, you are the only other person, besides myself that I have heard say this. If we do have the downgrade money will be a lot harder to get by the gov. That is a good thing. They will, for the first time in their lives actually be forced to see where the money might come from instead of from the blank check mentality. It will hurt, but the gov needs a good slap in the azz to rein in the spending. The plans they have produced are nothing short of laughable. There is no restraint and there is not a chance that any of these plans will reduce the deficit, they still spend more than we take in. If they didn't we wouldn't need to raise the debt ceiling.
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Old 07-28-2011, 11:46 AM   #6
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Re: The Road To A Downgrade


Quote:
Originally Posted by Leo G View Post
So far Mike, you are the only other person, besides myself that I have heard say this. If we do have the downgrade money will be a lot harder to get by the gov. That is a good thing. They will, for the first time in their lives actually be forced to see where the money might come from instead of from the blank check mentality. It will hurt, but the gov needs a good slap in the azz to rein in the spending. The plans they have produced are nothing short of laughable. There is no restraint and there is not a chance that any of these plans will reduce the deficit, they still spend more than we take in. If they didn't we wouldn't need to raise the debt ceiling.
Well,,, I not only agree but I wrote To Eric Canter and told him the same thing.
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Old 07-28-2011, 12:45 PM   #7
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Re: The Road To A Downgrade


I'm looking forward to the down grade because of the inevitable attention it will bring to the American public. Hopefully its enough of a wake up call to get even the sleepiest of our citizens woken up and it puts un-ignorable pressure on our elected officials to do something.
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Old 07-28-2011, 01:36 PM   #8
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Re: The Road To A Downgrade


We are going to get downgraded, it's just gonna happen.

The whole debt deal is just a bump in the road of a much larger picture. What we need to fix this problem is a total change in Gov. mentality from both parties. Beyond the mentality we need a central goal and a strategy to achieve it. None of these 3 things that are required have happened.

The "Downgrade" has been warned about for some time now and I for one believe it was a warning that was done to soften the blow. Given the numbers a downgrade is inevitable and both S&P and Moody's already know this.

For further proof you can just read what Standard & Poor's said was required to keep our AAA rating. Nothing we have done thus far has even come close to satisfying the requirements they laid out. What the Speaker and the President are doing is nothing but political posturing.

Until the mentality of Government undergoes a serious change towards doing what's required we are headed for a slippery slope.

How many warnings do we need? The only reasons we had the warnings were to soften the blow to the financial markets.

We will lose our rating!

Mike
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Old 07-28-2011, 04:09 PM   #9
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Re: The Road To A Downgrade


Quote:
Originally Posted by Mike's Plumbing View Post
We are going to get downgraded, it's just gonna happen.

The whole debt deal is just a bump in the road of a much larger picture. What we need to fix this problem is a total change in Gov. mentality from both parties. Beyond the mentality we need a central goal and a strategy to achieve it. None of these 3 things that are required have happened.

The "Downgrade" has been warned about for some time now and I for one believe it was a warning that was done to soften the blow. Given the numbers a downgrade is inevitable and both S&P and Moody's already know this.

For further proof you can just read what Standard & Poor's said was required to keep our AAA rating. Nothing we have done thus far has even come close to satisfying the requirements they laid out. What the Speaker and the President are doing is nothing but political posturing.

Until the mentality of Government undergoes a serious change towards doing what's required we are headed for a slippery slope.

How many warnings do we need? The only reasons we had the warnings were to soften the blow to the financial markets.

We will lose our rating!

Mike

It may be too late. The numbers are hard to even comprehend.

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