Tea Party Terrorists May Possibly Achieve another Credit Downgrade

[Mr. Big Dog 10,747]

Fitch has put the US on notice that the top credit rating is now in danger.

The Tea Party Terrorists destroy America, one rating at a time.

[ready4ONE 5,400]

At least they are doing something! Can I get a harumph!?!

[Mr. Big Dog 10,747]

At least they are doing something! Can I get a harumph!?!

When we get to pay another percentage point or two on that national debt, that'll sure help resolve the fiscal crisis. What a bunch of imbeciles.

[himher 634]

When we get to pay another percentage point or two on that national debt, that'll sure help resolve the fiscal crisis. What a bunch of imbeciles.

I think doubling the interest payments was a great accomplishment dude. Be proud!

[Janelle2002 3,865]

Everyone in America almost have bad credit since the recession and Bush anyway. America should match it's citizens.

http://m.youtube.com/watch?v=beLHRU1S-uU

[Mr. Big Dog 10,747]

Everyone in America almost have bad credit since the recession and Bush anyway. America should match it's citizens.

http://m.youtube.com/watch?v=beLHRU1S-uU

An extra percentage point in interest would cost us an additional $160 billion in debt service annually. That's $160 billion pizzed out the window for absolutely nothing.

The Tea Party Terrorists want to destroy this nation any way they can.

[himher 634]

Liberal logic:

Irresponsible borrowing that doubles the interest payments is patriotism. Increasing the cost of borrowing is terrorism.

I love liberal logic

Summary: If paying more interest is the result of terrorism I guess they elected the head terrorist.

[himher 634]

An extra percentage point in interest would cost us an additional $160 billion in debt service annually. That's $160 billion pizzed out the window for absolutely nothing.

The Tea Party Terrorists want to destroy this nation any way they can.

Doubling the debt cost us $125 billion annually. That's $125 billion pizzed out the window for absolutely nothing. The liberal dems want to destroy this nation any way they can.

The interest rate hasn't increased a whit and you are already calling "terrorist" in advance. The interest payments have already doubled and we are already paying the price. How do you think we feel about you and those like you terrorist boy? You have already achieved what you are imagining our response will do.

Edited October 16, 2013 by himher

[Mr. Big Dog 10,747]

Fitch - much like S&P back in 2011 - puts the blame for the placement of US debt on Rating Watch Negative squarely on the Tea Party Terrorists:

- The U.S. authorities have not raised the federal debt ceiling in a timely manner before the Treasury exhausts extraordinary measures. The U.S. Treasury Secretary has said that extraordinary measures will be exhausted by 17 October, leaving cash reserves of just USD30bn. Although Fitch continues to believe that the debt ceiling will be raised soon, the political brinkmanship and reduced financing flexibility could increase the risk of a U.S. default.

- Although the Treasury would still have limited capacity to make payments after 17 October it would be exposed to volatile revenue and expenditure flows. The Treasury may be unable to prioritise debt service, and it is unclear whether it even has the legal authority to do so. The U.S. risks being forced to incur widespread delays of payments to suppliers and employees, as well as social security payments to citizens - all of which would damage the perception of U.S. sovereign creditworthiness and the economy.

- The prolonged negotiations over raising the debt ceiling (following the episode in August 2011) risks undermining confidence in the role of the U.S. dollar as the preeminent global reserve currency, by casting doubt over the full faith and credit of the U.S. This "faith" is a key reason why the U.S. 'AAA' rating can tolerate a substantially higher level of public debt than other 'AAA' sovereigns.

[The Nature Boy 4,224]

An extra percentage point in interest would cost us an additional $160 billion in debt service annually. That's $160 billion pizzed out the window for absolutely nothing.

The Tea Party Terrorists want to destroy this nation any way they can.

But I thought debt did not matter, or so you keep telling us

160 Billion is a lot

we could have gotten 23% of a POS website that would have gotten a 3rd year Web design student an F designed for that.

P.S. here is what the S and P said about the last down grade.- Facts right who needs them

Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden in a manner consistent with a ‘AAA’ rating and with ‘AAA’ rated sovereign peers…

[Mr. Big Dog 10,747]

But I thought debt did not matter, or so you keep telling us

I have not said that debt doesn't matter. That's either another one of your misreadings of my posts or you may just have mixed that up with the GOP claiming not that long ago that deficits don't matter.

[Mr. Big Dog 10,747]

P.S. here is what the S and P said about the last down grade.- Facts right who needs them

Yeah, who does, right? The central point in the S&P statement was this:

The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy.

There's one political force that has brought this about. That political force are the Tea Party Terrorists.

[Rich and Wen 101]

I think doubling the interest payments was a great accomplishment dude. Be proud!

Actually, you can thank GW Bush for the fact that we have any debt at all. Back in 2000, the US had a budget surplus, and the GAO predicted the national debt would be paid off within 10 years. I guess bribing the American public with peanuts, while the wealthy received caviar (otherwise known as the Bush tax cuts of 2001) took precedence over sound fiscal management at that time.

Vice President Cheney said it himself, "Deficits don't matter", as the Bush-Cheney tag team began 2 wars without new revenues to pay for them.

Now there's a Democrat in the White House, and the Republicans, in their zeal to thwart him (McConnell - "Our #1 goal is to make him a one term president") will do ANYTHING to prevent proper governance. After voting 50 times to repeal (not fix, repeal) the Affordable Care Act, now they hold thousands of federal workers and the good faith and credit of the US Government hostage to their demands.

Politics is the art of the possible, which means you must compromise - each side gets some, but not all, of what it wants. But to the Tea Party Zealots, compromise is a dirty word.

[The Nature Boy 4,224]

Actually, you can thank GW Bush for the fact that we have any debt at all. Back in 2000, the US had a budget surplus, and the GAO predicted the national debt would be paid off within 10 years. I guess bribing the American public with peanuts, while the wealthy received caviar (otherwise known as the Bush tax cuts of 2001) took precedence over sound fiscal management at that time.

Vice President Cheney said it himself, "Deficits don't matter", as the Bush-Cheney tag team began 2 wars without new revenues to pay for them.

Now there's a Democrat in the White House, and the Republicans, in their zeal to thwart him (McConnell - "Our #1 goal is to make him a one term president") will do ANYTHING to prevent proper governance. After voting 50 times to repeal (not fix, repeal) the Affordable Care Act, now they hold thousands of federal workers and the good faith and credit of the US Government hostage to their demands.

Politics is the art of the possible, which means you must compromise - each side gets some, but not all, of what it wants. But to the Tea Party Zealots, compromise is a dirty word.

A. Bush's fault . can also be "conjure up any conservative in history that even remotely did anything similar to what is going on today. It makes it ok.

[himher 634]

Actually, you can thank GW Bush for the fact that we have any debt at all. Back in 2000, the US had a budget surplus, and the GAO predicted the national debt would be paid off within 10 years. I guess bribing the American public with peanuts, while the wealthy received caviar (otherwise known as the Bush tax cuts of 2001) took precedence over sound fiscal management at that time.

Vice President Cheney said it himself, "Deficits don't matter", as the Bush-Cheney tag team began 2 wars without new revenues to pay for them.

Now there's a Democrat in the White House, and the Republicans, in their zeal to thwart him (McConnell - "Our #1 goal is to make him a one term president") will do ANYTHING to prevent proper governance. After voting 50 times to repeal (not fix, repeal) the Affordable Care Act, now they hold thousands of federal workers and the good faith and credit of the US Government hostage to their demands.

Politics is the art of the possible, which means you must compromise - each side gets some, but not all, of what it wants. But to the Tea Party Zealots, compromise is a dirty word.

The congressional seats switched because obamacare was rammed down our throats. The Congress now represents the majority of people who do not want and do not support the AHA. Since the administration forced it down our throats and failed to heed the switch in the congressionaL makeup we are in this crisis.

Unlimited borrowing and spending cannot be sustained. The AHA is not funded and therefore not feasible. All the democrats need to do is listen to the majority and the majority, who elected this congress, has sent the message that they do not want it.

If they had listened or had mutually passed this law it would be one thing, but it was forced on us by a majority democratic congress and a democratic president.

So we elected a new congress. Take some advice and listen to that message. Try to force debt and taxes down our throats and we will shut you down and keep you shut down until it stops.