Tea Party Terrorists May Possibly Achieve another Credit Downgrade

[Penny Lane 8,159]

[OnMyWayID 1,489]

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.

I would ask you to read a thread end to end that you started some time ago and look at those you lambasted then and compare it too what you are saying now: http://www.visajourney.com/forums/topic/425613-austerity-policies-driven-by-calculation-error/

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Is anyone still thinking we are going to grow our way out of this or shall we just keep digging just a liiiiittle longer?

[Mr. Big Dog 10,747]

I would ask you to read a thread end to end that you started some time ago and look at those you lambasted then and compare it too what you are saying now: http://www.visajourney.com/forums/topic/425613-austerity-policies-driven-by-calculation-error/

....

Is anyone still thinking we are going to grow our way out of this or shall we just keep digging just a liiiiittle longer?

What are you talking about? What does austerity vs. economic growth policies have to do with the Tea Party pushing this nation towards another debt rating downgrade for no good reason at all?

And we certainly won't grow our way out of anything unless there is certainty and stability. There will be no stability as long as you have a group of imbeciles sabotaging the nation.

[BatmanUSA 105]

maybe he was referring to your comment about how one mathematical miscalculation could bring everything down...

but obviously you trust Obama/Reid/Pelosi/MSNBC 100%, so we do not have to worry that there is any error is their calculations even though they voted for a law without reading it...

or how you seem to agree with Obama, 100% that we need to spend more to reduce our debt...

good use of logic there.. eh..

Edited October 18, 2013 by BatmanUSA

[himher 634]

What are you talking about? What does austerity vs. economic growth policies have to do with the Tea Party pushing this nation towards another debt rating downgrade for no good reason at all?

And we certainly won't grow our way out of anything unless there is certainty and stability. There will be no stability as long as you have a group of imbeciles sabotaging the nation.

We are facing a credit downgrade because we want to force the government to spend within their means, not because every single individual owes $43,400

(each, everyone, young and old) on the national debt and the government has an annual income equivalent to $8400 per person.

I love liberal logic.

You are right, there can be no stability as long as a group of imbeciles who think credit rating is an entitlement rather than a reflection of fiscal responsibility are running the nation

Edited October 18, 2013 by himher

[Mr. Big Dog 10,747]

maybe he was referring to your comment about how one mathematical miscalculation could bring everything down...

but obviously you trust Obama/Reid/Pelosi/MSNBC 100%, so we do not have to worry that there is any error is their calculations even though they voted for a law without reading it...

or how you seem to agree with Obama, 100% that we need to spend more to reduce our debt...

good use of logic there.. eh..

Well, how about this for a calculation:

Ireland pursued the Tea Party preferred course by betting all on austerity. In 2008, their debt to GDP ratio was about the same as ours ~ 70%. By 2013, Ireland's debt to GDP ratio stands at 122%. Deficits peaked somewhere at 13% of GDP and are still around 8% for 2013. The Irish economy is still smaller today than it was when the financial crisis started.

We pursued a little bit of growth policy here. Our debt to GDP ratio stayed well below 100% and is set to decline for the next several years as deficits are set to decline from a peak of 10% (lower than Ireland's peak) to a sustainable rate of under 3% - again, for the next several years. Contrary to austerity battered Ireland, our economy is bigger today than it was in 2008.

Those are simple, easily verifiable fatcs.

And it is just as easy to see that we have structural fiscal issues that need to be addressed in order to put the fiscal house in order for the long term. There's o question about that. Just as there is no question about the fact that we would be much, much worse off today (higher unemployment, higher deficits and more debt) had we gone down austerity avenue in 2009.