Unprecedented: S&P Downgrades US Debt to AA+

They pulled the trigger. We're officially no longer prime investment grade.

There has been some argument about the numbers here. The administration claimed there was a $2 trillion error (against the US's favor) in S&P's calculations, and the administration challenged that error.

Honestly, I thought that was probably bullshit and said so on Twitter: I happen to know the Obama Administration is fond of double-counting and faked numbers, so why should I give their claims credence?

Not sure how all of that worked out, but S&P ultimately rejected the argument.

Posted by: Ace at 08:34 PM



Comments

1 Now?

Posted by: Flaming Skull at August 05, 2011 08:35 PM (3SvjA)

2 "Unexpectedly"

Posted by: Mister Money at August 05, 2011 08:36 PM (wN82N)

3 "Unexpectedly"
Even I saw this coming.

Posted by: David Patterson at August 05, 2011 08:37 PM (3SvjA)

4 It was inevitable. Besides, we haven't deserved to be AAA for a long time now.

Posted by: 80sBaby at August 05, 2011 08:37 PM (o2lIv)

5 This is a good time to print more dough .

Posted by: Bill D. Cat at August 05, 2011 08:37 PM (npr0X)

6 Happy Birfday, Jugears, ya stupid fuck.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:37 PM (UOM48)

7 "SP Downgrades US To AA+, Outlook Negative - Full Text" link

Posted by: curious at August 05, 2011 08:37 PM (k1rwm)

8 Obama is not worried.

According to his college transcripts he passed every class with AA+...

Hurray America.

Posted by: Nevyan at August 05, 2011 08:37 PM (b07qs)

9 Is this an impeachable offense?

Posted by: Ministry of Fiction at August 05, 2011 08:37 PM (hCYo3)

10 Breaking out the Bacardi, Coke and some limes.
This will not end well.

Posted by: Mister Money at August 05, 2011 08:38 PM (wN82N)

11
This should set off alarm bells in Congress, and the members need to seriously debate an immediate reduction in spending or another downgrade is on the horizon, and that would be catastrophic.

Posted by: Fish the Impaler at August 05, 2011 08:38 PM (Lt/Za)

12 Solid AA+!!!!

Posted by: Obumbles at August 05, 2011 08:38 PM (i3cUC)

13 Posted by: curious at August 05, 2011 08:37 PM (k1rwm)

Why are you posting a link to what this post is about? And how do I know it's not gay pron?

Posted by: Rum, Goddess of Doom & Sith Lord at August 05, 2011 08:39 PM (YxBuk)

14 Meanwhile, at Camp David, Barry parties on with Valerie Jarrett and Reggie Love. It's good to be king.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:39 PM (UOM48)

15 Maybe they were off by "trillions" in the other direction? How are the profits and earnings ratios going to be affected? Ask Barky.

Posted by: progressoverpeace at August 05, 2011 08:39 PM (G/MYk)

16 What's SP's rating on Monopoly Bucks in comparison?

Posted by: ontherocks at August 05, 2011 08:39 PM (HBqDo)

17 Nahh but seriously was't raising the debt limit supposed to keep this from happnin??

Posted by: steevy at August 05, 2011 08:39 PM (i3cUC)

18 So much for all the "oh, we MUST raise the debt ceiling or we'll be downgraded!!!1" talk.

Worthless Republicans. Worthless.

Posted by: KG at August 05, 2011 08:40 PM (LD21B)

19 how is this not flaming skull worthy?

Posted by: Jose at August 05, 2011 08:40 PM (WTNJJ)

20 The MFM will blame Republicans even though the downgrade has everything to do with our ever increasing debt and ever decreasing ability to pay the debt service on it.

Posted by: The Donkey Show at August 05, 2011 08:40 PM (ijjAe)

21 Don't worry. They'll just blame the Republicans, like usual.

Posted by: Rum, Goddess of Doom & Sith Lord at August 05, 2011 08:40 PM (YxBuk)

22 And now, to re-evaluate the ratings of all those nations holding dollars and depending on the dollar ... LOL.

Posted by: progressoverpeace at August 05, 2011 08:40 PM (G/MYk)

23 13
Posted by: curious at August 05, 2011 08:37 PM (k1rwm)Why are you posting a link to what this post is about? And how do I know it's not gay pron?

Watch it. She's got a sooper seekrit comment filter. And she's not afraid to use it. Just ask me.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:40 PM (UOM48)

24 You goddamn hobbits!

Posted by: God-Emperor Barky I the Irate at August 05, 2011 08:40 PM (P57Q4)

25 Now we just have to wait and see how big the impact is.

Posted by: 80sBaby at August 05, 2011 08:40 PM (o2lIv)

26 ACE beat Allah and Ed and Drudge WHooHooo Ace be da man!

What say da Lyin King?

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 08:40 PM (tHnoW)

27 Much more important than FnF, although either one of them is an ominous omen of things to come.

It was also unexpected how the employment numbers just managed to work out to provide a decrease from 9.2% to 9.1% (even though a tweak to the already cooked numbers was required to bring off this majestic improvement as a birthday present).

Posted by: Hrothgar at August 05, 2011 08:41 PM (yrGif)

28
So, Barky, Val the Hun, and Reggie the penis washer walk into the Camp David personal quarters...

Posted by: Fish the Impaler at August 05, 2011 08:41 PM (Lt/Za)

29 Thanks a lot you, Communist shitbuckets....you know who you are.

Posted by: BOHICA at August 05, 2011 08:41 PM (a68SM)

30 --Honestly, I thought that was probably bullshit and said so on Twitter: I
happen to know the Obama Administration is fond of double-counting and
faked numbers, so why should I give their claims credence?

CBO confirmed it.

Posted by: progressoverpeace at August 05, 2011 08:41 PM (G/MYk)

31 So . The pressure's now on for an interest rate hike . I wonder what all those Megagillion dollars in derivatives are gonna think .

Posted by: Bill D. Cat at August 05, 2011 08:41 PM (npr0X)

32 It's interesting to watch the sites that simply don't have this up. Some sites still have the "SP and administration discussing" headline.

Posted by: curious at August 05, 2011 08:41 PM (k1rwm)

33 Obama will now join the Italians in blaming the rating agency.Not his ginormous deficit spending.

Posted by: steevy at August 05, 2011 08:41 PM (i3cUC)

34 Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:40 PM (UOM4

She filtered me out? Damn, I'm so hurt.

Posted by: Rum, Goddess of Doom & Sith Lord at August 05, 2011 08:41 PM (YxBuk)

35 It's almost like there are repercussions for putting $5 Trillion on the nation's credit cards in only two and a half years.

Posted by: Stateless Infidel at August 05, 2011 08:42 PM (GKQDR)

36 27 Until the inevitable revision.

Posted by: steevy at August 05, 2011 08:42 PM (i3cUC)

37 26
ACE beat Allah and Ed and Drudge WHooHooo Ace be da man!

What say da Lyin King?


Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 08:40 PM (tHnoW)
ace has sources.......

Posted by: curious at August 05, 2011 08:42 PM (k1rwm)

38 But the democrats told us that the debt deal would stave off default and downgrade?!?

Posted by: knob at August 05, 2011 08:42 PM (qKPU8)

39 "The administration claimed there was a $2 trillion error (against the US's favor) in SP's calculations, and the administration challenged that error."

We're gonna need a bigger calculator.

Posted by: Standard P. Brody at August 05, 2011 08:43 PM (r4t7/)

40 Worthless Establishment Republicans. Worthless.


Posted by: KG at August 05, 2011 08:40 PM (LD21B)

Posted by: Hrothgar at August 05, 2011 08:43 PM (yrGif)

41 Is it time to break out the Zevon?

Posted by: brian at August 05, 2011 08:43 PM (y05cf)

42 It was inevitable. Besides, we haven't deserved to be AAA for a long time now.

Posted by: 80sBaby at August 05, 2011 08:37 PM (o2lIv)
You are incorrect on both counts. We ARE AAA. The very definition of it. Otherwise, the world has another trade currency and another reserve currency hiding out somewhere.

Posted by: progressoverpeace at August 05, 2011 08:43 PM (G/MYk)

43 If President Obama had been raised by my Dad, he would know the value of capital.




Posted by: If Barack Had Been raised by my Dad at August 05, 2011 08:44 PM (8IAHO)

44 Obama made history, it's unprecidented. Thanks O' dumbass you remind me of the guy who stole my credit card.
No mention from SP regarding republicans balking at taxes. I thought that was bullshit. It would have been a purely political statement.

Posted by: robtr at August 05, 2011 08:44 PM (MtwBb)

45 This is good in the long run..no more politicians whistling past the graveyard when it comes to our out of control spending. Maybe they'll wake up?

Posted by: Greg at August 05, 2011 08:44 PM (2u8JI)

46 Can I use that million dollar bill now?

Posted by: Pissed off 26-year old with three part-time jobs at August 05, 2011 08:44 PM (e2VMT)

47 17
Nahh but seriously was't raising the debt limit supposed to keep this
from happnin??

No, because the ratings agencies said from the beginning that they wanted a specific type of deal. The people who backed the deal were more thinking about long-term default.

Posted by: 80sBaby at August 05, 2011 08:44 PM (o2lIv)

48 This is all the fault of the GOP and the Tea Party. The obvious way out of this is to spend more and borrow more money.

Posted by: Paul at August 05, 2011 08:44 PM (DsHk0)

49 Did I mention there's like 180 trillion dollars linked to interest rate derivatives ?



Posted by: Bill D. Cat at August 05, 2011 08:44 PM (npr0X)

50 Is this the same group of assholes that rated subprime tranches AAA?

Posted by: Truman North at August 05, 2011 08:44 PM (K2wpv)

51
This will not end well.

In the end, there will be only chaos!

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 08:44 PM (JAidV)

52
Which esteemed member of Congress will be the first to step forward and applaud SP's decision to begin the process of saving the Republic?

Posted by: Fish the Impaler at August 05, 2011 08:45 PM (Lt/Za)

53 Well I hope you tea party terrorists are happy. This would never had happened if you'd just let us raise taxes on billionaires.

Posted by: Lefty Hussein McMoonbat at August 05, 2011 08:45 PM (2jQGY)

54 Is this the same group of assholes that rated subprime tranches AAA?

Yup .

Take a wild guess how bad this is .

Posted by: Bill D. Cat at August 05, 2011 08:46 PM (npr0X)

55

JimPethokoukis












REUTERS: SP SAYS
EFFECTIVENESS, STABILITY, AND PREDICTABILITY OF US POLICYMAKING AND
POLITICAL INSTITUTIONS HAVE WEAKENED

DOWNGRADE REFLECTS OPINION THAT US FISCAL CONSOLIDATION PLAN FALLS
SHORT OF WHAT WOULD BE NECESSARY TO STABILIZE DEBT DYNAMICS


They wanted $4T in cuts and a long list of other items.

Posted by: 80sBaby at August 05, 2011 08:46 PM (o2lIv)

56 Watch it. She's got a sooper seekrit comment filter. And she's not afraid to use it. Just ask me.
Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:40 PM (UOM4
I think you are perfect evidence that the lying little troll was again being a lying shit about her fantasy comment filter.
She claims one day to have missed one of your hashes, but you've almost always got the in your hash so it would be impossible to miss that one. Then she responds to a comment you make a few days later. And today she again claims to have needed to remove you from the filter to read a comment.
In other words she's a liar, just like everything else she says.

Posted by: buzzion at August 05, 2011 08:46 PM (GULKT)

57 "45 This is good in the long run..no more politicians whistling past the graveyard when it comes to our out of control spending. Maybe they'll wake up?
Posted by: Greg at August 05, 2011 08:44 PM (2u8JI)"

*snort* Yeah, just like the Greeks woke up and decided to maturely grow up and own up to their out-of-control spending lifestyle.

Posted by: Paul at August 05, 2011 08:46 PM (DsHk0)

58
Celine Dion's playing on the CD player now. Shall I fast forward to the 'Titanic' theme song?

Posted by: Stateless Infidel at August 05, 2011 08:46 PM (GKQDR)

59 It's all coming together, just as planned.

Good boy, Barry. Here's a gram of coke. Happy Birthday.

Posted by: George Soros, deep in his lair at August 05, 2011 08:46 PM (UOM48)

60 hey the Post Office is warning it may default...

Posted by: curious at August 05, 2011 08:46 PM (k1rwm)

61 50 Yes.Yes,it is.

Posted by: steevy at August 05, 2011 08:46 PM (i3cUC)

62 Nahh but seriously was't raising the debt limit supposed to keep this
from happnin??

This pathetic joke of a ratings downgrade was only mad possible by Barky's un-Constitutional threat from the Oval Office to default on America's debt. It was solely HIS doing - and the complicity of the shithole rattings agencies.

Posted by: progressoverpeace at August 05, 2011 08:46 PM (G/MYk)

63 Juan Williams wants to lower tax rates and is against more stimulus Juan Williams? To the right of Juan McCain and Lindsay Grahamnasty?

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 08:47 PM (tHnoW)

64 Barry will now go on a caviar campaign for raising taxes "in order to get our debt under control and restore our credit rating". Expect the military to get slashed too. Welfare suckers benefits not so much.

Posted by: The Donkey Show at August 05, 2011 08:47 PM (ijjAe)

65
When SP told Congress it was 4T to avoid downgrade, Hairy Reed and John Boehner sloughed it off as nonsense.

Well, they now know the difference between purposeful lying and truth.

Posted by: Fish the Impaler at August 05, 2011 08:47 PM (Lt/Za)

66 This must be that Sputnik hooey JEF was gleaming about

Posted by: Arcade Hero at August 05, 2011 08:47 PM (mmHDH)

67 And how do I know it's not gay pron?


Posted by: Rum, Goddess of Doom Sith Lord at August 05, 2011 08:39 PM (YxBuk)
NTTAWWT. (it is lesbo pr0n, right?)

Posted by: GGE of the Moron TEAhad at August 05, 2011 08:48 PM (f4gk9)

68 IT'S ON BITCHES

Posted by: Andy Bernard at August 05, 2011 08:48 PM (DVYq+)

69 Well played, Congress. Well played indeed.

Too bad we listened to those Terroristic Racist Hostage-takers since they were sooo wildly off base.

GD Congressional statists.

Posted by: AnonymousDrivel at August 05, 2011 08:48 PM (r4t7/)

70 eh, if it was anyone else, this would mean more but it's SP who are fucking morons.


o/t

10/3/31 in LoL as Sona.....so fucking boss

Posted by: The Dude at August 05, 2011 08:48 PM (M8yfa)

71 The down parts of the roller coaster really are the most fun !!/

Posted by: KZnextzone at August 05, 2011 08:48 PM (ZUWaD)

72 AA+ is the new AAA

Posted by: garrett at August 05, 2011 08:48 PM (uKEj1)

73 So what exactly happens now?

Posted by: Jumbo Jogging Shrimp tea party terrorist at August 05, 2011 08:48 PM (qjUnn)

74 Good boy, Barry. Here's a gram of coke. Happy Birthday.

That coke is from all of us!

Posted by: Sinaloa Cartel at August 05, 2011 08:48 PM (P57Q4)

75 Nice job, Barky.

Choke on a rib. Or piece of pie.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:49 PM (UOM48)

76 Posted by: The Dude at August 05, 2011 08:48 PM (M8yfa)

If the data is there the other two will have to follow suit otherwise their reputations are really on the line.

Posted by: curious at August 05, 2011 08:49 PM (k1rwm)

77
Amazingly, the American public understood the SP warning, but the elites in Congress were dismissive and knew what was best.

Memo to Congress: Suck it bitches!

Posted by: Fish the Impaler at August 05, 2011 08:49 PM (Lt/Za)

78 o/t

10/3/31 in LoL as Sona.....so fucking boss


Posted by: The Dude at August 05, 2011 08:48 PM (M8yfa)
Nice.

Posted by: KG at August 05, 2011 08:49 PM (LD21B)

79 73
So what exactly happens now?


Posted by: Jumbo Jogging Shrimp tea party terrorist at August 05, 2011 08:48 PM (qjUnn)
We eat you first.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:49 PM (UOM48)

80 Those damn Republicans wouldn't raise taxes! That's why this happened. Oh yeah, and the SP is racist. What's different about this President? Read between the lines.

Posted by: Sheila Jackson Lee at August 05, 2011 08:50 PM (MZSfb)

81 Are we Greece or Italy? I'm hoping for Italy, 'cause the food's better.

Posted by: nickless at August 05, 2011 08:50 PM (MMC8r)

Posted by: no good deed at August 05, 2011 08:50 PM (MZSfb)

83 Weird scenes inside the gold mine...

Posted by: The End at August 05, 2011 08:50 PM (FUEui)

84 I think that Fannie asking for more money was a huge contributing factor in all of this.

Posted by: curious at August 05, 2011 08:50 PM (k1rwm)

85 42 You are incorrect on both counts. We ARE AAA. The very definition of it.
Otherwise, the world has another trade currency and another reserve
currency hiding out somewhere.


We're still the world's reserve currency, yes.

Posted by: 80sBaby at August 05, 2011 08:50 PM (o2lIv)

86 Well, got out the good skunk..and beer too. Might as well enjoy.

Posted by: just another dave at August 05, 2011 08:51 PM (o7Oav)

87 so when the JEF gave himself a B+, he was really talking about where he'd get our credit rating.

Posted by: the dandy at August 05, 2011 08:51 PM (1h53u)

88 I don't know about you but I'm embarrassed and saddened. This is my country, I love it and want to see it succeed.

Posted by: curious at August 05, 2011 08:51 PM (k1rwm)

89 Sadly, I still think they can still get 51% to believe that this is just because we don't soak the rich enough. It's still too easy to demagogue avoiding the really hard stuff until they exhaust going after all the usual scapegoats.

Posted by: Dave S. at August 05, 2011 08:51 PM (UvR6d)

90 SP hatin' on a black President.

Racism....straight up.

Posted by: Jeannine GoAwfulWhore at August 05, 2011 08:52 PM (MMC8r)

91 Okey doke ... the whole friggin world just piled into US debt as the last refuge, driving the 10 year down to something like 2.4%, the 2 year to 0.25%, I think, and the bills to negative ... and S+P decides to tell everyone that US debt is not safe. LOL.

If there is anything of value in this rating it is that Barky being in the White House makes the US a less-than AAA nation. That is ALL this ratings downgrade says.

Posted by: progressoverpeace at August 05, 2011 08:52 PM (G/MYk)

92 CHANGE!

Posted by: Anony at August 05, 2011 08:52 PM (Yigvc)

93 Did you know that Rick Perry got a C in gym, and had a reputation for giving wedgies to the other students?

News at 11!

Posted by: MFM at August 05, 2011 08:52 PM (UOM48)

94 This warrants a flaming skull though.

Posted by: steevy at August 05, 2011 08:52 PM (i3cUC)

95 Nice.


Posted by: KG at August 05, 2011 08:49 PM (LD21B)

Reverie, HoG, Mercury boots, Aegis, Deathcap and Rylai and ended with 3k in gold

Posted by: The Dude at August 05, 2011 08:52 PM (M8yfa)

96 Impressive, Barry.

Posted by: Jimmy Carter at August 05, 2011 08:53 PM (FZZ94)

97 OMG
Holy Fuck. This is like finding out you didn't have a texting plan after all that texting.
This has never happened.

Posted by: dagny at August 05, 2011 08:53 PM (7PuB2)

98 Holy crap. That commie shitweasel Ed Asner on O'Really.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:53 PM (UOM48)

99 Might as well enjoy.

Lavender and Guiness are making the news easy to handle.

Posted by: garrett at August 05, 2011 08:53 PM (uKEj1)

100 "My advice to you, is to start drinking heavily." --future Senator Blutarsky
Start up the rules for the drinking game for the next Obama press conference.
"Unexpected"--sip
blame placed on "Congress"--shot
blame on "Bush"--chug
blame on "Republicans"--chug twice
call for increased taxes--finish the bottle
warn of shared sacrifice, but the future is full of hope--open vein, pour gallon of Val-U-Rite vodka in.

Posted by: Conservative Crank at August 05, 2011 08:53 PM (SnXrr)

101 But he was supposed to get us "into the black"...

Posted by: Hopey Changers at August 05, 2011 08:54 PM (ZUWaD)

102 We're still the world's reserve currency, yes.

That is one of our few saving graces. But it also means that when we go, everyone else goes with us.

And then there will be only chaos.

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 08:54 PM (JAidV)

103 I'm not a rick perry fan as you all know but wow, just the threat of his fast and praying got stuff done.....

probably this is the writing on the wall that a lot of folks need to read....

Posted by: curious at August 05, 2011 08:54 PM (k1rwm)

104 Look, everyone in the nation knows exactly how one gets a C in gym. You don't "dress out" as per instructions and then you make fun of the lesbian/gay gym coach/teacher.

Posted by: dagny at August 05, 2011 08:54 PM (7PuB2)

105 Again with the raising revenues jab:

"We lowered our long-term rating on the U.S. because we believe that the
prolonged controversy over raising the statutory debt ceiling and the
related fiscal policy debate indicate that further near-term progress
containing the growth in public spending, especially on entitlements, or
on reaching an agreement on raising revenues is less likely than we
previously assumed and will remain a contentious and fitful process. We
also believe that the fiscal consolidation plan that Congress and the
Administration agreed to this week falls short of the amount that we
believe is necessary to stabilize the general government debt burden by
the middle of the decade."

Posted by: 80sBaby at August 05, 2011 08:54 PM (o2lIv)

106 ?????

sigh

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:55 PM (UOM48)

107 Can't we just take a moment here to bask in the magnificent awesomeness of Barrak Hussein Obama, mm-mm-mm! Damn if his love pudding doesn't taste like heaven, and it tickles when his balls bounce against my chin.

Posted by: Stephen Marche at August 05, 2011 08:55 PM (bZ8J6)

108 Unprecedented.

A "AAA" rating is something else he inherited from Bush.

Posted by: A Balrog of Morgoth at August 05, 2011 08:55 PM (agD4m)

109 Shouldn't Postmodernist Credit Ratings be more subjective?
Where the hell is the Race Card when we really need it?

Posted by: ontherocks at August 05, 2011 08:55 PM (HBqDo)

110
You recall all the savings that were in the recent deficit reduction plan? Well, they just evaporated because with the downgrade, interest rates will rise and it will cost government more to borrow.

PS I bullshitted above savings! It's a lie!

Posted by: Fish the Impaler at August 05, 2011 08:55 PM (Lt/Za)

111 We are so boned.... unexpectedly!

Posted by: DelD at August 05, 2011 08:56 PM (oAZ1S)

112 The terrorist hostage takera have gone went and done it now, they stifled the Lyin King the Magnificents plans and caused the SP to downgrade us as he who Won warned us would happen if we didn't tax the hell out of the richest among us.
Those Tea Party Terrorists should be hnted down and sent off to re-educamatation kamps.

Posted by: Mutha Efn Media Lyin Kings Presstitutes at August 05, 2011 08:56 PM (tHnoW)

113 Holy Fuck. This is like finding out you didn't have a texting plan after all that texting.

Heh . Got a thousand dollar text bill from my daughter's phone ( for a month ) . Did not go over well with me and the phone company .

Posted by: Bill D. Cat at August 05, 2011 08:56 PM (npr0X)

114 Hold on to your hats Monday.
The commie bastards are loving this. take down the USA at all costs.
Traitors.

Posted by: MarkC at August 05, 2011 08:56 PM (ros+1)

115 106
?????sigh

(directed at 104)

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:56 PM (UOM48)

116 The Psychic Network is telling me...

WWRPD? What Would Ron Paul Do?

And Miss Cleo is telling me from the Great Beyond - "Call me now, babies!".

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 08:56 PM (JAidV)

117 Well, it's been fun.

At least there are some of us whom, upon our death beds, will remember when America was the greatest country in history.


Posted by: eastvalleyphx at August 05, 2011 08:56 PM (qiOph)

118 Where the hell is the Race Card when we really need it?

I was passing them out at the BBQ last night.

Posted by: Al Sharpton at August 05, 2011 08:56 PM (/izg2)

119 Again with the raising revenues jab:
Who knew the ratings agents were journolisters?

Posted by: garrett at August 05, 2011 08:57 PM (uKEj1)

120 Where was Van Jones hmmm http://tinyurl.com/42r6jed

Posted by: Krazy Kat at August 05, 2011 08:57 PM (A23u6)

121 Cloward-Piven. Now comes the demonization of SP. Look for it.

Posted by: Flapjackmaka at August 05, 2011 08:57 PM (kG75t)

122 Mighty nice of them to wait for the late-Friday bad news dump to issue the downgrade.

Posted by: Hollowpoint at August 05, 2011 08:57 PM (SY2Kh)

123 Hey, Barry, you worthless @#$@@X, enjoy your weekend at Camp David. Hope Michelle walks in on you and Reggie.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:57 PM (UOM48)

124 Owebama is already blaming the Tea Party for this for not raising taxes.
I can't believeSP had the guts to do it, and they can expect a visit from the SEC (or FBI) pretty soon, I'm sure. And that's not entirely tin foil, mind you. Egan-Jones, a small ratings agency already downgraded the US a while back and they did get a little visit from the SEC. It was entirely coincidental mind you.
In the long run, this will be a good thing as it may be just what is needed to make the ruling class in Washington shape up and get its act together. But I'm not holding my breath.

Posted by: publius(NotBreitbartPublius) at August 05, 2011 08:58 PM (VVB18)

125 Irony of me opening the site here at the gym and reading this while steve millers take the money and run plays on my iPod?

Posted by: Doc at August 05, 2011 08:58 PM (Dg52w)

126 That is one of our few saving graces. But it also means that when we go, everyone else goes with us.
In the words of the immortal Bill Murray....
"So we got that goin' for us, which is nice."

Posted by: Sean Bannion at August 05, 2011 08:58 PM (HUZDZ)

127 Well, it's been fun. At least there are some of us whom, upon our death beds, will remember when America was the greatest country in history.

Posted by: eastvalleyphx at August 05, 2011 08:56 PM (qiOph)

The Constitutional Union of American States will be even better.

Posted by: progressoverpeace at August 05, 2011 08:58 PM (G/MYk)

128 note to moronettes.....seriously give it up, I went to school with the girls that mean girls was patterned after....nothing you say bothers me or haven't you realized and with my new filter I don't even see most of them unless someone points them out to me...

Posted by: curious at August 05, 2011 08:58 PM (k1rwm)

129 Heh . Got a thousand dollar text bill from my daughter's phone ( for a month ) . Did not go over well with me and the phone company .
Been there. Now the entire nation is there all at once.
Paul Ryan needs to be on TV screaming his head off.

Posted by: dagny at August 05, 2011 08:58 PM (7PuB2)

130 How can our credit-worthiness go down? We just fixed our maxed-out credit card problem by getting a new credit card.

Posted by: steve poling at August 05, 2011 08:59 PM (db5YN)

131
Just returned from church and found out about this AAA thing. I'm going to make some ice cream for the Saturday social, and just forget about these bad things and that bad man in Washington. Well, at least we didn't make a B.

Posted by: Mary Crackenducky of Cut & Shoot, Texas at August 05, 2011 08:59 PM (Lt/Za)

132 Good News!!! Roseanne Barr is announcing she's running for president. And she's freaking serious.

Primary her against Barky.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:59 PM (UOM48)

133 I think you are perfect evidence that the lying little troll was again being a lying shit about her fantasy comment filter.

Haven't tested to see if it really works, but there's this one.

Posted by: Heorot at August 05, 2011 08:59 PM (bAyio)

134 US debt? Never heard of it.

Posted by: charlie gibson at August 05, 2011 08:59 PM (7nk7e)

135
We eat you first.



Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:49 PM (UOM4
If you can catch me. I have been in training.

Posted by: Jumbo Jogging Shrimp tea party terrorist at August 05, 2011 08:59 PM (qjUnn)

136 Does this have anything to do with the Italian Authorities raiding SP's offices in Italy because their rating was downgraded and US's wasn't. Italian authorities are trying to prove some kind of bias with their rating system, as the Italian rating was lowered and Italian Gov feels US should have been downgraded as well.

Posted by: Auntie Entity at August 05, 2011 09:00 PM (FU3yL)

137 128
note to moronettes.....seriously give it up, I went to school with the
girls that mean girls was patterned after....nothing you say bothers me
or haven't you realized and with my new filter I don't even see most of
them unless someone points them out to me...


Posted by: curious at August 05, 2011 08:58 PM (k1rwm)
She's super serial.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 09:00 PM (UOM48)

138 shoulda happened years ago

Posted by: TimtheLurker at August 05, 2011 09:00 PM (d1JmE)

139 106 ?????sigh
Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:55 PM (UOM4
I didn't reference the comment--something earlier about Perry and how the MFM will report that instead of the fact we're boned

Posted by: dagny at August 05, 2011 09:01 PM (7PuB2)

140
We are so boned.... unexpectedly!


Posted by: DelD at August 05, 2011 08:56 PM (oAZ1S)
What do they call that...an unexpected boning...sex by surprise? No, wait, there's another name...just can't think of it...

Posted by: GGE of the Moron TEAhad at August 05, 2011 09:01 PM (f4gk9)

141 I read the whole SP reason for the downgrade and it's mostly that we are fucked. They said the out look for the administration and congress to agree on more revenue or more importantly modifications to medicare and other benefits led to the downgrade.

Posted by: robtr at August 05, 2011 09:01 PM (MtwBb)

142 Posted by: curious at August 05, 2011 08:58 PM (k1rwm)

How do you know we're being mean to you if you're filtering us out?

Posted by: Rum, Goddess of Doom & Sith Lord at August 05, 2011 09:02 PM (YxBuk)

143 Flaming White House?

Posted by: cherry π at August 05, 2011 09:02 PM (OhYCU)

144 Happy Birthday, Mr. President, Happy Birthday...to you, ya fuck.



Posted by: S&P Throwing T-Bills in the Air at August 05, 2011 09:02 PM (agD4m)

145 I hope everyone closed-out their long positions today.

Monday could be very, very ugly for Fraud Street.

A fair reading of the rationale would seem to indicate that SP sees the problem as 75% spending, 25% revenue (or there about) and that sounds fair to me - revenues are running at about 13% GDP, historically they should be 17-18 percent. Of course a crappy economy will do that to you.

But again, reading what SP is actually saying here it's pretty clear the problem is uncontrolled run-away spending, particularly entitlements like Medicare (which is called out specifically).

This is a pretty devastating, and largely accurate, summary - we're fortunate for the time being to only be dropped 1 peg to AA+. SP sure as heck didn't do Jug Ears any favors here.

Posted by: DocJ at August 05, 2011 09:02 PM (AWzOz)

146 Italian authorities are trying to prove some kind of
bias with their rating system,

Posted by: Auntie Entity at August 05, 2011 09:00 PM (FU3yL)
"system"? LOL. These ratings agencies don't have any "system". They just make shit up.As to Itlay, they can go jack off a horse. The US owns our currency. Italy uses an external currency. Even on just that issue, there is no comparison bewteen rating Italy and rating the US.

Posted by: progressoverpeace at August 05, 2011 09:02 PM (G/MYk)

147 I thought they would wait until Perry was President

Posted by: izoneguy at August 05, 2011 09:02 PM (i6Neb)

148 Who cares! Happy birfday, Barack, lets partaaayyyy!!!

Posted by: knob at August 05, 2011 09:02 PM (qKPU8)

149 and the winner is CNN and MSNBC....CNBC and Fox are going to kick themselves for not covering this live.

Posted by: curious at August 05, 2011 09:02 PM (k1rwm)

150 142 Her friends told her.

Posted by: steevy at August 05, 2011 09:02 PM (i3cUC)

151 Lead paint. Stop eating it curious.

Posted by: Papa Editor at August 05, 2011 09:02 PM (FZZ94)

152 SP has a CORPORATE JET!!!!!! OMGMGMGM

Posted by: King Barack the Magnificient at August 05, 2011 09:03 PM (kG75t)

153 Obama-Wan Kenobi: How did this happen? We're smarter than this.
John Boehner Skywalker: Apparently not, Master.

Posted by: Truman North at August 05, 2011 09:03 PM (K2wpv)

154 Paul Ryan needs to be on TV screaming his head off.

My " negotiations " with my cell company involved much screaming , all of it from me .

Posted by: Bill D. Cat at August 05, 2011 09:03 PM (npr0X)

155 107 Can't we just take a moment here to bask in the magnificent awesomeness of Barrak Hussein Obama, mm-mm-mm! Damn if his love pudding doesn't taste like heaven, and it tickles when his balls bounce against my chin.
Posted by: Stephen Marche at August 05, 2011 08:55 PM (bJ4M3)

Testitfy, brother! His love spunk makes awesome hair gel, too!

Posted by: curious at August 05, 2011 09:03 PM (bZ8J6)

156 Roseanne Barr says she wants to do away with all taxes. She's calling her party the Green Tea Party.

Just....I can't.....no words.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 09:03 PM (UOM48)

157 Her friends told her.
The cats are smarter than she is.

Posted by: Rum, Goddess of Doom & Sith Lord at August 05, 2011 09:03 PM (YxBuk)

158 Excellent!

Posted by: Montgomery Burns Obama at August 05, 2011 09:03 PM (Xt2Jb)

159 125
>>Irony of me opening the site here at the gym and reading this while steve millers take the money and run plays on my iPod?Posted by: Doc at August 05, 2011 08:58 PM (Dg52w)
Priceless, literally and figuratively.

Posted by: ontherocks at August 05, 2011 09:03 PM (HBqDo)

160 As to Itlay, they can go jack off a horse. The US owns our currency.
Italy uses an external currency. Even on just that issue, there is no
comparison bewteen rating Italy and rating the US.

Furthermore, I think the balance sheets of Italy would make the balance sheets of the US look positively pristine!

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 09:03 PM (JAidV)

161 Ouch that kick hurt!
OK Raise taxes now. get me McCain, Grahmnasty, Hatch, Snowe, Collins, Murcowski and Brown and start that committee befo I gets kicked again.
Call up Turbun, Schumer, Dingy and Pelosi and tell em I'm all shriveled up and ready to surrender.

Posted by: Boehners Balls at August 05, 2011 09:04 PM (tHnoW)

162 stop making fun of me girls, or I'll set this place on fire. last warning.

Posted by: carrie at August 05, 2011 09:04 PM (agD4m)

163 Two A's add up to B... B+!

Posted by: Barry XVI at August 05, 2011 09:04 PM (FcR7P)

164 with my new filter I don't even see most of them unless someone points them out to me...

Wow. Your friends are really fast to point this out to you, psychopath --->
95
90
A. B. Stoddard is an idiot.


Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 06:54 PM (UOM4
OMG.....something we agree on...


Posted by: curious at August 05, 2011 06:55 PM (k1rwm)



Posted by: laceyunderalls at August 05, 2011 09:04 PM (961EC)

165
This puts me in mind of the moment when Obama had won the election. I figured the pendulum had to reach its furthest point left before it could swing back.

We have to get smacked by the ratings agencies before we'll cut the deficit.

Posted by: arhooley at August 05, 2011 09:04 PM (8BWYy)

166
Happy birthday, Mr. President.
Happy Birthday to you.

Posted by: Zombie Marylin Monroe at August 05, 2011 09:04 PM (hbAPu)

167 BTW, Barky is happy about this downgrade. He wanted it. He went out of his way to get it.

Posted by: progressoverpeace at August 05, 2011 09:04 PM (G/MYk)

168 here i come, walking down the street, get the funniest looks from everyone i meet...

Posted by: Reality, Reality at August 05, 2011 09:04 PM (m6OUa)

169 wow Hannity is interviewing Mark Sanford during all of this /facepalm

Posted by: Jose at August 05, 2011 09:04 PM (WTNJJ)

170 How long before the leaders of Japan and China make an unprecedented joint call for Mr Soetoro and Geither to commit ritual seppuku to restore honor to their families names

Posted by: phreshone at August 05, 2011 09:05 PM (T3vCe)

171 @whpresscorps: FLASHBACK: 'No risk' the US
will lose its top credit rating, says Treasury's Geithner
http://tinyurl.com/3vknepu

Posted by: 80sBaby at August 05, 2011 09:05 PM (o2lIv)

172 This fuckwad went on vacation while the BP well spewed. He played 9 holes while Blackhawks were carrying Navy SEALs to off bin Laden. He led a conga and did the electric slide while SP accounts were preparing this downgrade. He's just a piece of fucking shit and I have nothing more clever to say than that.


Posted by: the dandy at August 05, 2011 09:05 PM (1h53u)

173 Posted by: Jose at August 05, 2011 09:04 PM (WTNJJ)

I switched him off, he wasn't on the radio and I thought his program was as my dad says "in the can".

Posted by: curious at August 05, 2011 09:05 PM (k1rwm)

174 Happy Birthday, and thanks for the gifts you brought us. You shouldn't have.

Posted by: Zombie American Economy at August 05, 2011 09:05 PM (hbAPu)

175 Well, I haven't filtered anyone. Now, pray the rosary with me... and remember, you don't pull them like a rip cord.

Posted by: notorius at August 05, 2011 09:05 PM (u2zxr)

176 Well, we got the change. Were is the fucking hope?

Posted by: Billy Bob, the guy who drinks in SC at August 05, 2011 09:06 PM (hXJOG)

177







Peter Barnes Is there a risk that the United States could lose its AAA credit rating? Yes or no?


Geithners response: No risk of that.


No risk? Barnes asked.
No risk, Geithner said.

Posted by: Monty at August 05, 2011 09:06 PM (FC+dS)

178 Barky : Dance!
S P : We'd rather not.

Posted by: garrett at August 05, 2011 09:06 PM (uKEj1)

179 They have all weekend to come up with the blame Bush, Republicans, and tea party theme.

Posted by: Jumbo Jogging Shrimp tea party terrorist at August 05, 2011 09:06 PM (qjUnn)

180 All going to blamed on the tea party--too much influence in not raising taxes--not going to ever mention stopping the fucking over spending.

Posted by: dagny at August 05, 2011 09:06 PM (7PuB2)

181 Chucky J blames Bush and the Tea Party.
Whudda douche

Posted by: mbruce at August 05, 2011 09:06 PM (Fr8N6)

182 Aww, Mark Sanford trying to make a comeback.

Thanks, Hannity, you great freaking 'murikan.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 09:06 PM (UOM48)

183 Okay, thank the Lord above I have been on vacation the last week. Are there cliff notes on the sellout?

Posted by: Papa Editor at August 05, 2011 09:06 PM (FZZ94)

184 So far I see the WH blaming not raising taxes, Commentary blaming the GOP for bringing a fight at a bad time (but mostly the left for taking us down this road). Already the "the Tea Party got what they wanted and here we are" meme is starting.

If the GOP doesn't put up a flake or a fool to run for President (and that is actually a giant if), Obama is in no way getting re-elected.

Posted by: DM! at August 05, 2011 09:06 PM (O0Qwy)

185 Yes we can!

Posted by: King Putt at August 05, 2011 09:06 PM (hbAPu)

186 i'd have to say FNC is dropping the ball on this one

Posted by: Sgt. Batguano at August 05, 2011 09:07 PM (m6OUa)

187 Quick time lapses and hashes are being selfish bitches!

Seriously, curious, please stop. You're engaged in a battle you cannot win. I think the 300 Spartans and their 1000 or so myraid allies had a better chance of victory against the entire might of Persia than you.

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 09:07 PM (JAidV)

188 Unprecedented!!!

Posted by: King Putt at August 05, 2011 09:07 PM (hbAPu)

189 128 note to moronettes.....seriously give it up, I went to school with the girls that mean girls was patterned after....nothing you say bothers me or haven't you realized and with my new filter I don't even see most of them unless someone points them out to me...
Posted by: curious at August 05, 2011 08:58 PM (k1rwm)
You're lying about your filter you ignorant little turd. And its not just moronettes calling you out you passive aggressive little twit.

Posted by: buzzion at August 05, 2011 09:07 PM (GULKT)

190 I want to know how in hell you spin this against Republicans. WE HAVE TO STOP SPENDING.

Posted by: arhooley at August 05, 2011 09:07 PM (8BWYy)

191 They said it would be a historic Presidency.


Posted by: cherry π at August 05, 2011 09:07 PM (OhYCU)

192 Welcome to the club

Posted by: Spain, Italy, Greece, etc at August 05, 2011 09:07 PM (Z8eES)

193 Really, he had a hip-hop barbeque while SP were downgrading us?
Niiiiiiice

Posted by: dagny at August 05, 2011 09:07 PM (7PuB2)

194 Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 08:49 PM (UOM4
RushBabe is wearing some kind of funky jacket that has her arms crossed in front, but thesleeves are so long they need to betied in the back. She also has an uncontrollable eye twitch and spends a lotof time sitting on the floorin the corner of a room with soft walls. If you've ever seen the old Pink Panther movies, she appears to be aAA choice ofa roomie for Inspector Dreyfus.

Posted by: RushBabe, basking in the Fatwah Friday News Dump at August 05, 2011 09:08 PM (Ew27I)

195 McCain: "You have nothing to fear from an Obama Presidency"

Posted by: cherry π at August 05, 2011 09:08 PM (OhYCU)

196 I'm sorry.

Posted by: George Waterboarded Bush at August 05, 2011 09:08 PM (Xt2Jb)

197 How about a photo of the Lyin Kings Presidency going up in flames along with a bunch of RINOS like McConnell?

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:08 PM (tHnoW)

198
Posted by: Monty at August 05, 2011 09:06 PM

How long before Geithner resigns?

Posted by: arhooley at August 05, 2011 09:08 PM (8BWYy)

199 Recovery Summer II

The Prequel.

Posted by: Joe Biden at August 05, 2011 09:08 PM (14jKX)

200 Well, his Awesomeness promised to "fundamentally change this country." Nice start, Fuckwit.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 09:08 PM (UOM48)

201 note to moronettes.....seriously give it up, I went to school with the
girls that mean girls was patterned after....nothing you say bothers me
or haven't you realized and with my new filter I don't even see most of
them unless someone points them out to me...

Posted by: curious at August 05, 2011 08:58 PM (k1rwm)

Posted by: Delusional/Encyclopedia Insannica at August 05, 2011 09:08 PM (HBqDo)

202 It's official. I have a new title. He'll probably take that away from me too.

Posted by: Jimmah Carte, Ex-Worst President and Worst Ex President at August 05, 2011 09:08 PM (hbAPu)

203 They can spin it however they like. It is impossible to raise taxes enough, even if one lives in a world of static analysis, to even really dent the deficit, much less close it.

Posted by: A Balrog of Morgoth at August 05, 2011 09:09 PM (agD4m)

204 .....note to moronettes.....seriously give it up....

I applaud this line of reasoning .

Posted by: Bill D. Cat at August 05, 2011 09:09 PM (npr0X)

205
Beginning Monday, we're going to re-stimulate the economy with additional money printed over the weekend to purchase the loyalty of certain rating firms, members of Congress, and some lobbyists like Zsa Zsa Huffington, Alan Colmes, and my friends at Turbo Tax.

Posted by: Timbo Geithner, Daddy Warbucks at August 05, 2011 09:09 PM (Lt/Za)

206 165
This puts me in mind of the moment when Obama had won the election. I
figured the pendulum had to reach its furthest point left before it
could swing back.We have to get smacked by the ratings agencies
before we'll cut the deficit.


Which is the silver lining. I didn't think more of what necessary would be done short of this, either.

Posted by: 80sBaby at August 05, 2011 09:09 PM (o2lIv)

207 And so with the world burning down around us, Mark Sanford is on Hannity discussing his whore and God.

Bring it on, Mayans, please.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 09:10 PM (UOM48)

208 Challenging the "error" is pants on head retarded. The downgrade is inevitable. Even if there were an error getting our rating back and then losing it a week or two later will only shake the markets worse. I couldn't imagine how the President could do a worse job with our debt crisis if he tried.

Posted by: BSKB at August 05, 2011 09:10 PM (xmaGn)

209 How long before Geithner resigns?
Monday

Posted by: dagny at August 05, 2011 09:11 PM (7PuB2)

210 Posted by: buzzion at August 05, 2011 09:07 PM (GULKT)
Actually, I would opt for Borderline Personality Disorder over the Oppositional Personality Disorder diagnosis

Posted by: Sean Bannion at August 05, 2011 09:11 PM (HUZDZ)

211 some ad someday needs to point out that Obamaa+ spent three hours dancing the night before we got downgraded. That's an hour longer than he could be bothered to sit in debt negotiations before storming out.

Posted by: the dandy at August 05, 2011 09:11 PM (1h53u)

212 The administration claimed there was a $2 trillion error.
That's just nitpicking now, isn't it?

Posted by: Count de Monet at August 05, 2011 09:11 PM (4q5tP)

213 Look at the bright side, at least Congress is not in session (other than pro-forma to keep JEF from any more recess appointments), so we've got that going for us.

Posted by: A Balrog of Morgoth at August 05, 2011 09:11 PM (agD4m)

214 The "SP error" is classic distraction technique. It keeps the blame laser off of Obama for a day or two.

Posted by: cherry π at August 05, 2011 09:11 PM (OhYCU)

215 Anyone have any idea where gold will go from here? I'm still desperately clinging to mine.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 09:11 PM (UOM48)

216 121
Cloward-Piven. Now comes the demonization of SP. Look for it.

Yes. The EU overlords are already threatening SP and Moody's with "investigation", as are the Italians.


Posted by: Jim Sonweed at August 05, 2011 09:11 PM (q9yZk)

217 I'll be over in the corner with a bottle of Oban and a straw if anyone needs me.

Posted by: no good deed at August 05, 2011 09:11 PM (MZSfb)

218
So, is the US going to go on craigslist and sell a few things for some extra cash? Like maybe -- Vermont?

Posted by: Laurie David's Cervix at August 05, 2011 09:11 PM (EeYDk)

219
Posted by: Spain, Italy, Greece, etc at August 05, 2011 09:07 PM (Z8eES)
More like "welcome to the party, pal!"And we don't have anybody who will bail us out. Whether or not Germany will bail out the entire Eurozone...we'll see.

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 09:11 PM (JAidV)

220 You're lying about your filter you ignorant
little turd. And its not just moronettes calling you out you passive
aggressive little twit.

Posted by: buzzion at August 05, 2011 09:07 PM (GULKT)
Not necessarily lying there's a Greasemonkey script that filters comments here. Tested it and it works.

Posted by: Heorot at August 05, 2011 09:12 PM (bAyio)

221 I couldn't imagine how the President could do a worse job with our debt crisis if he tried.
He could have had his party without JZ. Sooooo less hip of a downgrade party.

Posted by: dagny at August 05, 2011 09:12 PM (7PuB2)

222 Hannity is a very nice man. Not a very smart man. Not a very conservative man. But a very nice man.

Posted by: Truman North at August 05, 2011 09:12 PM (K2wpv)

223 The administration claimed there was a $2 trillion error.

They'lladjust that down by Sunday.

Posted by: garrett at August 05, 2011 09:12 PM (uKEj1)

224 Taxes must now be raised to save the country.

Posted by: Barky the Great at August 05, 2011 09:12 PM (Oz+gx)

225 Hey WTF,( NOT Win The Future) is Faux Snews doing? INsannity interviewing some dope who walked the Appalacian trail while in brazil bonin his babe instead of DOOM?
Get Whorealdo out of the closet for some screechin and cryin, ah wait scratch that skip Whorealdo and Mistress Shep and give us the girls.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:13 PM (tHnoW)

226 fox now live

Posted by: cherry π at August 05, 2011 09:13 PM (OhYCU)

227 You plebes are lucky he's not vacationing in the South of France.
With the girls.

Posted by: ErikW at August 05, 2011 09:13 PM (xFfE9)

228 some ad someday needs to point out that Obamaa+
spent three hours dancing the night before we got downgraded.

Posted by: the dandy at August 05, 2011 09:11 PM (1h53u)
He was celebrating the coming downgrade, which he wanted and worked hard for. The ratings downgrade, if treated seriously (though it really shouldn't be) says nothing about American fiscal policy or anything of the sort (if that had been a concern then we would have been downgraded the minute that ObamaCare was signed). All this downgrade addresses is the fact that America has a traitor in the White House and that makes this nation a poor risk, even though it is actually riskless in comparison to any other country (for a wide variety of reasons).

Posted by: progressoverpeace at August 05, 2011 09:13 PM (G/MYk)

229 George Soros just e-mailed my Tea Party committee.

He said "Suck it, bitches. My work here is nearly complete."

But he left a cute, evil kitteh picture. So there's that.

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 09:13 PM (UOM48)

230 So S&P likes the Ryan budget?

Posted by: Jean at August 05, 2011 09:14 PM (4jJCE)

231 The way the media and Democrats will twist themselves into pretzels to blame Republicans should be entertaining.

"S&P downgraded our debt rating because Republicans took the country hostage to protect tax breaks for millionaires and billionaires, corporate jet owners, hedge fund managers, oil companies, fat cat bankers and slurpee drinkers." Or something.

Posted by: Johnny at August 05, 2011 09:14 PM (iT/Iy)

232 I want to know who shorted the market since SP notified the WH at 1:30.

Paging Issa.

Posted by: cherry π at August 05, 2011 09:14 PM (OhYCU)

233 The S&P error was not downgrading after QE1.

Posted by: Beefy Meatball at August 05, 2011 09:14 PM (bZ8J6)

234 What sort of twit would find it necessary to filter out comments on a site whose raison d'etre is its virtually unmoderated comments section? What's the point?

Just go to HotAir or Althouse or wherever, if one's delicate sensibilities are frayed by what one reads here.

Posted by: A Balrog of Morgoth at August 05, 2011 09:15 PM (agD4m)

235 Fuck Obama, the mother-fucking progressive traitor. Leftist cunt piece of fucking shit.

Maybe if we didn't have a socialist fucking traitor as president this wouldn't have happened. Crazy thought I know.

Maybe if we didn't these eco-trash ruling class rich bitch motherfuckers who, for some insane fucking reason, enjoy raising the cost of energy for people who can't afford to by a $75k fucking hybrid.

Our current progressive ruling class actually get off on fucking over the middle and working class. And they expect us to admire and thank them for doubling the cost of driving our cars and heating and cooling our fucking homes.

It's nuts. The Democrat Party used to be all about the Working Man (tm) and trying to make his life better. Now it's all about fucking over the average dude to make the hipster class trust fund dumpster driving fucks feel even more smug about how progressive they and they are.

What the fucking fuck!

Posted by: Clubber Lang at August 05, 2011 09:15 PM (BXqkH)

236
I wonder where Obama's laser like focus is to be set next?
Obama thought bubble: "The US is still producing a lot of oil....maybe...too much oil..."

Posted by: Stateless Infidel at August 05, 2011 09:15 PM (GKQDR)

237 211 some ad someday needs to point out that Obamaa+ spent three hours dancing the night before we got downgraded. That's an hour longer than he could be bothered to sit in debt negotiations before storming out.
Posted by: the dandy at August 05, 2011 09:11 PM (1h53u)
His legendary "cool". Remember that he has a "perfect disposition". I guess those Roman columns were from the end of the empire.

Posted by: dagny at August 05, 2011 09:15 PM (7PuB2)

238 Posted by: Monty at August 05, 2011 09:06 PM (FC+dS)

I wonder if Turbo Tax Timmeh will stick around after all. Goolsbee left a helluva legacy, didn't he?

Posted by: beedubya at August 05, 2011 09:15 PM (AnTyA)

239 Not necessarily lying there's a Greasemonkey script that filters comments here. Tested it and it works.
Posted by: Heorot at August 05, 2011 09:12 PM (bAyio)
If this works, no more cat pee smell. Yay us!

Posted by: Count de Monet at August 05, 2011 09:15 PM (4q5tP)

240 218
Nope in 2012 can't come soon enough Sarah is gonna sell all the Kings gold, styrofoam columns, vast tracts of western lands and whole fleet of limos and planes on Ebay then she's gonna drill baby drill. If we make it till then.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:15 PM (tHnoW)

241
Anyone have any idea where gold will go from here?

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 09:11 PM (UOM4


I am long gold since 2001-2003, and I will not ladder out until there is some measure of sanity in government, or more likely, when a conservative is elected to the presidency.

Of note: When Reagan was elected, the 30-year long bond sold at auction two weeks prior to his inauguration at the phenomenal rate of 14.50% non-callable. I will stick with the conservative election as a benchmark for liquidation, right or wrong.

Posted by: Fish the Impaler at August 05, 2011 09:16 PM (Lt/Za)

242 Does this mean we will have to pay better than the current .22% on our 2 year notes?

Posted by: toby928 at August 05, 2011 09:16 PM (GTbGH)

243 I look at that picture of BHO on Drudge above the word "Downgraded" and I want to punch my screen.

Posted by: Cooter at August 05, 2011 09:16 PM (C06Qq)

244 @211: some ad someday needs to point out that Obamaa+ spent three hours dancing the night before we got downgraded. That's an hour longer than he could be bothered to sit in debt negotiations before storming out

That's right. This is going to be remembered more than Carter's cardigan.Folks 2000 years from now should be talking about "Conga-ing while America downgraded" like we talk about "Fiddling while Rome burns" now. This course of events must be burned into America's collective psyche.

Posted by: cleaningmygun at August 05, 2011 09:16 PM (YVgim)

245 this nation a poor risk, even though it is actually riskless in comparison to any other country (for a wide variety of reasons).

Who says Ukraine is weak!?

Posted by: Ukranian on Subway at August 05, 2011 09:16 PM (uKEj1)

246
The media have a responsibility to not cover this downgradestory.
They should report on the great jobs news that came out this morning (that I submit they should not have covered at the time cuz it seemed like bad news but ... compared to this it's great news!!!
Unemployment rate free falls 0.1% to almost under 9%. - that sounds good for a headline I think.
carry on.

Posted by: John Kerry at August 05, 2011 09:16 PM (7nk7e)

247 235 Excellently high percentage of curse words.Well done.

Posted by: steevy at August 05, 2011 09:17 PM (i3cUC)

248 So her sooper sekrit filter is something that someone did 3 years ago? Figures. The stupid troll hasn't had an original thought yet. Why start now.

Posted by: buzzion at August 05, 2011 09:17 PM (GULKT)

249 Back the fuck off, y'all. It's Petey's birfday weekend. Don't bother him with these pesky little details

Posted by: beedubya at August 05, 2011 09:18 PM (AnTyA)

250 I just finished reading the announcement. Failure of congress to raise revenues was specifically mentioned as a contributing cause 3 separate times. What that tells me is the ratings agencies are saying "sorry spending cuts that may or may not occur won't cut it. Raise taxes or we will downgrade you again." In fact the last paragraph specifically says that:

"The outlook on the long-term rating is negative. As our downside
alternate fiscal scenario illustrates, a higher public debt trajectory
than we currently assume could lead us to lower the long-term rating
again. On the other hand, as our upside scenario highlights, if the
recommendations of the Congressional Joint Select Committee on Deficit
Reduction--independently or coupled with other initiatives, such as the
lapsing of the 2001 and 2003 tax cuts for high earners--lead to fiscal
consolidation measures beyond the minimum mandated, and we believe they
are likely to slow the deterioration of the government's debt dynamics,
the long-term rating could stabilize at 'AA+'."

In other words the ratings agencies are repudiating the GOP and the Tea party specifically. Now the question is what will the response be.

Posted by: chad at August 05, 2011 09:18 PM (WNcvq)

251 Dammit, I leave town for a few days and the whole joint goes nuts.
How long before Geithner resigns?

Depends on how brutal the press is to him over the weekend, and how many times they play that clip of him assuring that getting a downgrade was simply unthinkable. Frankly, I don't think Geithner even wants the job any more -- his incompetence has been so epic that no one really pays attention to anything he has to say any more. But if Obama fires his ass, Obama has two problems: a) he doesn't really have anyone waiting in the wings to replace Geithner (except maybe Stiglitz?); and b) even if he did, the last thing Obama wants is a grueling confirmation fight on his hands.

No one thought SP would drop the hammer (I sure didn't), so SP must have been feeling the intense investor pressure to give honest assessments of sovereign debt. But this means that SP is on Timmah's shit-list forever, and if Bammer doubles-down behind Timmah, it'll be a gauntlet thrown down -- the Adminstration calling out their own pet ratings-agencies for finally telling the truth.

Posted by: Monty at August 05, 2011 09:18 PM (FC+dS)

252 Yo Clubber - kinda mild, man. I expected you to come out swinging.

Posted by: eastvalleyphx at August 05, 2011 09:18 PM (qiOph)

253 In other words the ratings agencies are repudiating the GOP and the Tea party specifically.
You fail at reading.

Posted by: Monty at August 05, 2011 09:19 PM (FC+dS)

254 Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:15 PM (tHnoW)

AHOY!

Posted by: PALINISTO at August 05, 2011 09:19 PM (uKEj1)

255
Welcome back Monty!!
251Dammit, I leave town for a few days and the whole joint goes nuts.
At least we're not talking about men's genitalia.

Posted by: Stateless Infidel at August 05, 2011 09:19 PM (GKQDR)

256 We're still the world's reserve currency, yes.

*Tries to chew hole in jacket to glance at wristwatch*

Posted by: RushBabe, sporting a lime-green straight jacket to contrast with light summer tan at August 05, 2011 09:20 PM (Ew27I)

257 I'm pretty sure this means that SP is just a bunch of racists.

Posted by: Spliff Menendez at August 05, 2011 09:20 PM (/w2Sy)

258 232 Good catch! The markets were tanking big time until, about 1 or 1:30 ? then the Dow climbed into positive. Someone liked this downgrade!
Who?

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:21 PM (tHnoW)

259 new thread

Posted by: dagny at August 05, 2011 09:21 PM (7PuB2)

260 Only AA+?!?

Damn I still have a lot of work to do.

Posted by: Preznent B+ at August 05, 2011 09:22 PM (fGbHT)

261 Someone liked this downgrade!
Who?

Shorty .

Posted by: Bill D. Cat at August 05, 2011 09:22 PM (npr0X)

262 Obamaa+

*golf clap*

Posted by: Retread at August 05, 2011 09:22 PM (BO5ap)

263 Predictions:
Stock market goes DOWN on Monday.
Many investment and trust funds will be forced to dump US Treasuries because of their fiduciary responsibilities associated with the downgrade - they must hold AAA Grade investment bonds (only).
QE3! Can QE4 be far behind?
Interest on debt has to go up as we need SOMEBODY to buy US Treasuries.
The Death Spiral has begun, as the debt will now really begin to eat up the budget.
Higher Taxes by the Supercommittee or whatever it's called, will be expected. This will, of course, stimulate the economy. Not.
And we can now be assured that the politicians in both parties will come to some reasonable compromises to address the problem. Hahahahahahaha...
This is, in part, what the Obama Regime wanted. This will, perhaps, energize their base in a way that the New CivilityTM never would. The level of hate and hostility in the 2012 election will be one for the books.

Send Lawyers, Guns and Money
The Shit has hit the fan!

Posted by: Reader C.J. Burch writes.... at August 05, 2011 09:23 PM (sJTmU)

264 Full faith and credit, baby!

Hello world! Would you take a personal check then?

Posted by: Larry Dickman at August 05, 2011 09:23 PM (O0Wa5)

265 The Bamster has tigers blood. He's a mother fuckin rock star from Mars. He's bi-winning!

Posted by: Charlie Sheen at August 05, 2011 09:23 PM (bZ8J6)

266 Unprecedented.A "AAA" rating is something else he inherited from Bush.
Posted by: A Balrog of Morgoth at August 05, 2011 08:55 PM (agD4m)
*kick sweeps RushBabe's laptop closer to toe-typing range*
+ 10

Posted by: Chief Inspector Dreyfus at August 05, 2011 09:23 PM (Ew27I)

267 God I hate Faux more everyday they should fire everyone of those metrosexual dudes including OReally and let the girls have a shot i mean really the country is burning and we are talking about sanford and his praying for salvation from his screwin his mistress and his constituents.
Faux and InSannity have lost it.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:23 PM (tHnoW)

268 They way I heard it was the market was tanking because the rumor of the downgrade was out there and then it was blown off as nonsense.

Posted by: MarkC at August 05, 2011 09:23 PM (ros+1)

269 I don't think so. 3 times they say they need to raise taxes. I',m not saying thats right or economically sound but it's what SP says.

Posted by: chad at August 05, 2011 09:24 PM (WNcvq)

270 @250 I think it's a little more even handed than that. Revenue raising doesn't even get mentioned until the third paragraph or so, and only then after spending cuts, specifically entitlement reform, are mentioned twice. It's a pox on all houses report, but out of control spending leads the way.

Posted by: cleaningmygun at August 05, 2011 09:24 PM (YVgim)

271 A saved or created crisis is a terrible thing to waste.


This was Barky's doing. He's LOVING this downgrade. This is why he kept hammering that the US would default if we didn't raise the debt limit (which was ridiculously stupid and could ONLY have happned if Barky had intentionally done it, which he very well would have tried). He should be impeached for having just said that (1000 times) in clear violation of the 14th amendment. Not impeaching the Indonesian prick is why we then get the laughable downgrade he invited and worked for (with complicity on the part of the ratings agencies, of course, as Moody's had initially jumped in with their asinine "downgrade" talk just to help Barky and the America-haters in the debt-limit "negotiations").

Posted by: progressoverpeace at August 05, 2011 09:25 PM (G/MYk)

272 Sorry but I can't take the Fox female mandatory hair dye. I makes me turn it off. There aren't that many pale blonds in the world outside of scandinavia.

Posted by: dagny at August 05, 2011 09:26 PM (7PuB2)

273 Welcome back Monty!!
He can smell DOOM!

Posted by: fluffy da hobbit at August 05, 2011 09:27 PM (4pSIn)

274 So this is what being robbed and anally raped must feel like.

Posted by: Shiggz pro liberty Taxpayer at August 05, 2011 09:27 PM (v8Pb8)

275 I don't care. Obama is awesome.

Posted by: Typical 20-something Obamatard at August 05, 2011 09:27 PM (jbWwg)

276 CJ, keep the lawyers

Posted by: Jean at August 05, 2011 09:28 PM (4jJCE)

277 There aren't that many pale blonds in the world outside of scandinavia.
*ahem*

Posted by: fluffy, descendent of Vikings at August 05, 2011 09:28 PM (4pSIn)

278 Must be our friend Choad Harper.

Posted by: steevy at August 05, 2011 09:28 PM (i3cUC)

279 What the fucking fuck!
Posted by: Clubber Lang at August 05, 2011 09:15 PM (BXqkH) Tell us what you really think.

Posted by: Minuteman at August 05, 2011 09:29 PM (hbAPu)

280 What we need is more unemployment benefits!

After all, they create jobs faster than almost any other initiative!

Pelosi said so!

Posted by: Jay at August 05, 2011 09:29 PM (Vyhz6)

281 What a brother cant get a loan?

Is there a "payday loans" by the White House? When Obama turning titles over on some F22's to make payroll, one nearby would save on gas.

Posted by: Baraky Bartokomous at August 05, 2011 09:29 PM (v8Pb8)

282 On a Friday night they make the decision? I wonder why? /s

Posted by: Bosk at August 05, 2011 09:30 PM (AFcK1)

283 OK done with Faux! Thats it finished! gonna give strictly faux Business a try.
Insannity, OReally, Shep, a bunch of fools who have become unbearable,
Bret Beair had better bail before Faux becomes MSNBC trolling the single digit IQ crowd for a couple of hundred viewers

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:30 PM (tHnoW)

284 232 Good
catch! The markets were tanking big time until, about 1 or 1:30 ? then
the Dow climbed into positive. Someone liked this downgrade!
Who?

George Soros is smiling. When it comes out that he shorted the market, somehow I doubt 300 million pissed off Americans wanting his head on a pike is going to end well for him in the long run. Of course when it finally catches up to him the money will be long gone into the pockets of Swiss and other shelter operating bankers.

Posted by: The Donkey Show at August 05, 2011 09:30 PM (ijjAe)

285 270
@250 I think it's a little more even handed than that. Revenue raising
doesn't even get mentioned until the third paragraph or so, and only
then after spending cuts, specifically entitlement reform, are mentioned
twice. It's a pox on all houses report, but out of control spending
leads the way.
________________

Agreed: here's the money quote:

"Standard Poor's takes no position on the mix of spending and revenue measures that Congress and the Administration might conclude is appropriate for putting the U.S.'s finances on a sustainable footing."

Posted by: Jim Sonweed at August 05, 2011 09:30 PM (q9yZk)

286 Unprecedented: SP Downgrades US Debt to AA+Well, at least Barky finally came out with his detailed jobs and ecconomic plan today...

Posted by: jrg at August 05, 2011 09:30 PM (BkQvr)

287 Per the WSJ article, "It also blamed the weakened "effectiveness, stability, and
predictability" of U.S. policy making and political institutions at a
time when challenges are mounting."

This is a shot straight across the bow of BHO. This isn't going to end well for SP.

Posted by: Brock O'Bama at August 05, 2011 09:30 PM (/WZ6r)

288 O
W
N
E
D

Posted by: tangonine at August 05, 2011 09:30 PM (x3YFz)

289 Torch.. check. Pitchfork.. check. 2 liter bottle of Brawndo.. check. Let's ride.

Posted by: Beefy Meatball at August 05, 2011 09:31 PM (bZ8J6)

290 Oh, and don't forget this little gem. Helicopter Ben has the monetary base pumped up to ridiculous levels (just go to FRED at the St.Loius Fed and look at the graphs), and is essentially in the coffin corner of monetary policy. I've seen calculation that predict a 40% jump in the price level due to an exogenous interest rate shock if they can't suck out enough monetary base. They'd essentially have to undo all of QE II and half of QE I overnight to keep that from happening.

Well, guess what? This downgrade can produce that sort of "exogenous interest rate shock". IOW, to prevent ridiculous inflation (even H-word level), they'd have to raise interest rate to Volcker levels and beyond! Saving the dollar would require causing a depression. Keep the monetary base where it is, and we go Weimar.

Posted by: publius(NotBreitbartPublius) at August 05, 2011 09:31 PM (VVB18)

291 Un-fucking-believable,

no not the SP downgrade. Fucking Hannity is interviewing washed-up, asshole ex-Gov. Sanford while the fucking economy was thrown into the drink.

HANNITY, PRINCE OF DOUCHEBAGS, FUCK YOU!

Posted by: weft cut-loop at August 05, 2011 09:31 PM (DEcmU)

292 Dear Preznit Golfer,

You're done.

Signed,

The Universe.

Posted by: tangonine at August 05, 2011 09:31 PM (x3YFz)

293 291
Un-fucking-believable,

no not the SP downgrade. Fucking
Hannity is interviewing washed-up, asshole ex-Gov. Sanford while the
fucking economy was thrown into the drink.

HANNITY, PRINCE OF DOUCHEBAGS, FUCK YOU!


Posted by: weft cut-loop at August 05, 2011 09:31 PM (DEcmU)
Hannity's heart is in the right place so back off a bit, cupcake.

Posted by: tangonine at August 05, 2011 09:32 PM (x3YFz)

294 Hope and change!

Posted by: Armando at August 05, 2011 09:32 PM (jbWwg)

295 How's that "legacy" look now?!?! First black President. First President to have the country's credit rating downgraded. First black President to have the country's credit rating downgraded.

Posted by: Brock O'Bama at August 05, 2011 09:33 PM (/WZ6r)

296 Well maybe CD's will be worth more than 1%.
The Fed caused part of this by keeping rates so low for so efing long allowing the Socialists to print and borrow money like the bill was never gonna come due.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:33 PM (tHnoW)

297 ammo is where it's at. fk gold. fk silver. 5.56 I'm tellin ya.

Posted by: tangonine at August 05, 2011 09:34 PM (x3YFz)

298 tim won't leave now. The president has apparently been "encouraging him to stay". He almost has to stay now.

Posted by: curious at August 05, 2011 09:34 PM (k1rwm)

299 If only we had passed the Boehner pla.....oh wait.

Posted by: Pragmatic Conservative playing the long game at August 05, 2011 09:35 PM (PqctR)

300 First executive action, while walking back from the swearing in - 1. Ask for JSOC 6's secure line, 2. Make call, two words: Get Soros

Posted by: Jean at August 05, 2011 09:35 PM (4jJCE)

301 Wait, someone is actually admitting to watching Hannity? Guess their smarts were hurting after watching Jersey Shore.

Posted by: Hatriot at August 05, 2011 09:36 PM (cpgQY)

302 When I was a kid, back right after the civil war ended, savings accounts got you a 4% return. Now, you have to pay the bank to hold your money.

Can we start shooting now?

Posted by: tangonine at August 05, 2011 09:36 PM (x3YFz)

303 None of the plans on the table, not even paul ryan's plan, could have prevented this downgrade.

Posted by: curious at August 05, 2011 09:36 PM (k1rwm)

304 For those ripping on Hannity...

I think this was a pre-taped (as in, days/weeks ago) because he wasn't on the radio today either. It's why the show isn't current events heavy.

Posted by: Johnny at August 05, 2011 09:36 PM (iT/Iy)

305 Boehner must call for an immediate cut of the federal budget to 2007 levels (by department)

Posted by: phreshone at August 05, 2011 09:37 PM (T3vCe)

306 299 If only we had passed the Boehner pla.....oh wait.
Posted by: Pragmatic Conservative playing the long game at August 05, 2011 09:35 PM (PqctR)
Or maybe even cut some spending NOW...they even hinted thats what it would take..buncha asshats...the lot of em

Posted by: Red Shirt at August 05, 2011 09:37 PM (FIDMq)

307 First mention in report of what caused the downgrade (besidesfecklessness in Washington):
We could lower the long-term rating to 'AA' within the next two years if we see that less reduction in spending than agreed to, higher interest rates, or new fiscal pressures during the period result in a higher general government debt trajectory than we currently assume in our base case.
And the money quote, a few lines later:
Rationale
We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.
Out of control spending, then, is SP's concern. I'm sick of "the average American family balancing its checkbook" metaphors, but any family knows that cutting spending is the first step to balancing the books. That's well within the family's control. Raising revenue is contingent, tougher, and therefore a secondary concern. It might be possible-- Dad might get be able to manage a second job, or he might not- but we can stop eating outfour nights a week. That's the message of the SP report. Cut spending.

Posted by: cleaningmygun at August 05, 2011 09:37 PM (YVgim)

308 OK my God Faux news talking immigration.

The Won has worked his magic again. he has turned the tide back he has sent the Illegal aliens streaming back across the border to Mexico.
His bold and innovative plan to increase the US unemployment to 9.1 while Mexicos is 4 and to downgrade the SP rating for the dollar making the peso king has solved the immigration and illegal alien problem
All hail or blow the king!

Posted by: Barracks Presstitutes on their knees for the KING at August 05, 2011 09:39 PM (tHnoW)

309 @270 except that they say one of the reasons they downgraded was the fact that they had revised their assumptions that the 2001 and 2003 tax cuts would expire in 2012. That the Republicans made clear that they would not raise taxes.

"Compared with previous projections, our revised base case
scenario now assumes that the 2001 and 2003 tax cuts, due to expire by
the end of 2012, remain in place. We have changed our
assumption on this because the majority of Republicans in Congress
continue to resist any measure that would raise revenues, a position we
believe Congress reinforced by passing the act. Key macroeconomic
assumptions in the base case scenario include trend real GDP growth of
3% and consumer price inflation near 2% annually over the decade. "

As I read it the base case is that we stay at AA+, but they feel it is more than like we will be downgraded again, the upside is that we stay AA+ but raise 950 billion in new revenue (raise taxes) and all the cuts in the debt ceiling deal are implemented and the downside is a downgrade to AA because GDP growth stalls or the cuts called for in the debt ceiling raise don't come thru and there is no raise in taxes. I think the tone indicates they find the last one most probable.


Posted by: chad at August 05, 2011 09:39 PM (WNcvq)

310 Ah, the Fed just issued a statement that this will not affect the risk weighting of Treasuries and other govt backed debt.Which means banks won't be required to make any changes. Nor insurance companies.
IOW, they're going to ignore the downgrade.

Posted by: publius(NotBreitbartPublius) at August 05, 2011 09:40 PM (VVB18)

311 my God Faux news talking immigration.
--------------
Seriously, we need to not use Olbermann's words. YOu might not like Fox News anymore for whatever reason, but using this term basically admits "I agree with Keith Olbermann to the point I'm going to use his phrases." Let's think of something else.

Posted by: Rich at August 05, 2011 09:41 PM (PqctR)

312 How long until the implosion?

Posted by: 80sBaby at August 05, 2011 09:41 PM (o2lIv)

313 So let me get straight: per S&P, the issue wasn't the runaway debt, but the fact the Tea Party wanted to stop it?

Is it to much to wonder if S&P and Obama worked this out together?

Posted by: CoolCzech at August 05, 2011 09:42 PM (kUaEF)

314 There might be a run on canned goods and ammo tomorrow. I'm gonna get some pudding as well.

Posted by: Brett at August 05, 2011 09:42 PM (Jb3ep)

315 @307 Even in your quote they talk about the lack of new revenues.

Again I am not saying that they are right I guess what I am saying is SP has chosen sides and gone against the GOP / Tea Party.

Posted by: chad at August 05, 2011 09:42 PM (WNcvq)

316 Where do you find the credit ratings of the states too?

Posted by: Flapjackmaka at August 05, 2011 09:43 PM (kG75t)

317 Hannity phones in his Friday shows like Letterman does. I'm surprised you morons didn't know that already.

Posted by: Walter Freeman at August 05, 2011 09:43 PM (UsjBj)

318 313
So let me get straight: per SP, the issue wasn't the runaway debt, but the fact the Tea Party wanted to stop it?





Is it to much to wonder if SP and Obama worked this out together?

Posted by: CoolCzech at August 05, 2011 09:42 PM (kUaEF)

was just thinking if politics was playing a part in all this.batchelor used odd wording saying that the administration refused to "accept the downgrade". and something to the effect of "it's complicated"

Posted by: curious at August 05, 2011 09:44 PM (k1rwm)

319 CNBC is running a special on how to get rich -- by interviewing the guy who invented the Super Soaker.

Isn't this a breaking fucking piece of financial news!

Posted by: Clubber Lang at August 05, 2011 09:44 PM (BXqkH)

320 The white S&P just can't let the black man have a decent credit score. Now we got to get our t-bills down at the rent-A-center.

Posted by: Straight up at August 05, 2011 09:44 PM (STTZD)

321 304
No Sheit? Mayhaps in extraordinary times and news cycles a pre-recorded snooze fest interview sans any entertainment valu could be pre-empted in favor of live coverage.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:44 PM (tHnoW)

322 So let me get straight: per SP, the issue wasn't the runaway debt, but the fact the Tea Party wanted to stop it? Is it to much to wonder if SP and Obama worked this out together?
-----------
No, their point was the fact that there was such a fight and yet so little was changed gives them reason to believe that changing entitlement programs will be nearly impossible.

Posted by: Rich at August 05, 2011 09:44 PM (PqctR)

323 ps. If S&P had any balls, they would have announced the downgrade on Monday morning, not Friday after US markets closed.

Posted by: Walter Freeman at August 05, 2011 09:44 PM (UsjBj)

324 312
How long until the implosion?


Posted by: 80sBaby at August 05, 2011 09:41 PM (o2lIv)
2 weeks. /looks at watch... in 3... 2... 1... hack.

Posted by: tangonine at August 05, 2011 09:45 PM (x3YFz)

325 late to the party.
well at least the tears in the beers part of party
so have Officials raided the offices of SP as they did in Italy

Posted by: willow at August 05, 2011 09:45 PM (h+qn8)

326 tangonine 2 weeks ,Gah !!

Posted by: willow at August 05, 2011 09:46 PM (h+qn8)

327 We could lower the long-term rating to 'AA' within the next two
years if we see that less reduction in spending than agreed to, higher
interest rates, or new fiscal pressures during the period result in a
higher general government debt trajectory than we currently assume in
our base case.

Kind of hard to spin that as Republican's fault for not allowing us to spend even more money we don't have on a second stimulus as all the libtards have been pushing on all the news shows this evening.

Yes this downgrade is going to be a disaster in the short term, but it is going to FORCE the government to actually address over spending. There's no way out of this except to cut spending and live within our means. The longer the media spins and Dems howl about wanting even more deficit spending, the worse it'll get.

Posted by: The Donkey Show at August 05, 2011 09:46 PM (ijjAe)

328 320
The white SP just can't let the black man have a decent credit
score. Now we got to get our t-bills down at the rent-A-center.

Posted by: Straight up at August 05, 2011 09:44 PM (STTZD)
You probably check yourself before you wreck yourself. Racist douchebaggery is ixnay on AoS. Don't be That Guy.

Posted by: tangonine at August 05, 2011 09:47 PM (x3YFz)

329 mitch mcconnel must have seen the handwriting on the wall

Posted by: curious at August 05, 2011 09:47 PM (k1rwm)

330 Walter imagine all the investors losing their minds all damn week-end. nothing they can do.
or can they?

Posted by: willow at August 05, 2011 09:47 PM (h+qn8)

331 I'm serious. How long do we have until the depression, then the death spiral?

Posted by: 80sBaby at August 05, 2011 09:48 PM (o2lIv)

332 326
tangonine 2 weeks ,Gah !!

Posted by: willow at August 05, 2011 09:46 PM (h+qn
Well, that gives you time to hit the stores and fill the freezer, cuz come Monday all hell is going to break loose. You think the foreign markets were twitchy after Thursday's crash?Just wait and watch how they go full batshit about 2AM your time Sunday night.

Posted by: tangonine at August 05, 2011 09:49 PM (x3YFz)

333 No, their point was the fact that there was such a
fight and yet so little was changed gives them reason to believe that
changing entitlement programs will be nearly impossible.

Posted by: Rich at August 05, 2011 09:44 PM (PqctR)
That's the ratings "system" there.People need to realize that these ratings agencies just make shit up. They are nothing but the retarded op-eds of some boring debt magazine, with absolutely horrible records. Even in their own explanation they said that it was primarily "because we believe that ..." LOL.

Posted by: progressoverpeace at August 05, 2011 09:49 PM (G/MYk)

334 Ace is ahead of the curve with regards to Obama throwing in the towel. I think it's now a coin flip as to whether he will even run for re-election. He can't win.

Posted by: Spike at August 05, 2011 09:50 PM (WLxeI)

335 331
I'm serious. How long do we have until the depression, then the death spiral?


Posted by: 80sBaby at August 05, 2011 09:48 PM (o2lIv)
Stop. This is the USA, the greatest country in the world. The president has access to the greatest economic brain trust (and he now has to forget their political leanings and use them), he's going to have to rely on republicans and independents and evil banksters to help him.

Posted by: curious at August 05, 2011 09:50 PM (k1rwm)

336 80s no idea. I hate not knowing and there is no way i can safe guard my family.
can't really believe it.
am i imagining , or over blowing the possibilities here?
just scared

Posted by: willow at August 05, 2011 09:50 PM (h+qn8)

337 progress you really think so?

Posted by: willow at August 05, 2011 09:51 PM (h+qn8)

338 chad, I don't think we disagree about the fundamentals of the report. But I just don't see that SP has, explicitly or implicitly, taken a side against the Tea Party and other opponents of tax increases. True, they do specifically mention expiration of the Bush tax cuts. That's noteworthy, because it will become a Democratic talking point. But in context it's hardly a "tax hikes or else" report. It's "get control of spending" report. The simplest, most w/in our control way to get spending under control is to cut spending. Tax hikes are contingent, and have all kinds of second and third tier effects that might not in fact lead to getting control over spending. SP knows that, which is why they didn't hit raising revenue harder.

Posted by: cleaningmygun at August 05, 2011 09:51 PM (YVgim)

339 331
I'm serious. How long do we have until the depression, then the death spiral?


Posted by: 80sBaby at August 05, 2011 09:48 PM (o2lIv)Honestly, no one knows, this is furrowed ground.I think everyone agrees on one thing: it's bad. And you're going to see a run in gold in silver come next week.
Wish I was in the pitchfork and torches business, I'd make a mint.

Posted by: tangonine at August 05, 2011 09:51 PM (x3YFz)

340 UN-furrowed.

Posted by: tangonine at August 05, 2011 09:52 PM (x3YFz)

341 is anyone surprised? it not like we were not warned, tried to do something to avert it, were called terrorists for wanting to do something about it - and now we get to say - we told you fucking so - AGAIN.

Posted by: x11b1p at August 05, 2011 09:52 PM (nVLlM)

342 I'm serious. How long do we have until the depression, then the death spiral?
Posted by: 80sBaby at August 05, 2011 09:48 PM (o2lIv)
It could happen but not because of this. This might end up being a good thing. The dems will have to give on medicare and social security and it could mean an immediate change to the tax code. Hopefully the dems won't be able to maintain the 50% that don't pay taxes and we will have to probably give up the tax on the top 2%.

Posted by: robtr at August 05, 2011 09:52 PM (MtwBb)

343 tangonine, i pray you're wrong.
damn maybe i am wishing for a frkn unicorn about now.

Posted by: willow at August 05, 2011 09:52 PM (h+qn8)

344 I'm serious. How long do we have until the depression, then the death spiral?


Posted by: 80sBaby at August 05, 2011 09:48 PM (o2lIv)
Stop.
This is the USA, the greatest country in the world. The president has
access to the greatest economic brain trust (and he now has to forget
their political leanings and use them), he's going to have to rely on
republicans and independents and evil banksters to help him.


Posted by: curious at August 05, 2011 09:50 PM (k1rwm)
Translation: depression on Tuesday, death spiral next Friday. Have a great weekend!

Posted by: GGE of the Moron TEAhad at August 05, 2011 09:52 PM (f4gk9)

345 Downgrading US debt right after the whole world just piled into it as the last refuge taking our interest rates down to new historic lows is akin to calling the US a racist nation as the population flow of every type of person has been almost exclusively INTO the US.

Posted by: progressoverpeace at August 05, 2011 09:53 PM (G/MYk)

346 I just thought of something, beck will be impossible to listen to on monday, the "i told you so's" will be on the upsurge....

wonder if he'll send one to his buds at fox.

Posted by: curious at August 05, 2011 09:53 PM (k1rwm)

347 339
331 Honestly, no one knows, this is furrowed ground.I think everyone agrees on one thing: it's bad. And
you're going to see a run in gold in silver come next week.
Wish I was in the pitchfork and torches business, I'd
make a mint.


It's bad but not rock bottom.

Posted by: 80sBaby at August 05, 2011 09:53 PM (o2lIv)

348 Bloomberg has some pretty smart guys talking about it now if you get bloomberg

Posted by: robtr at August 05, 2011 09:53 PM (MtwBb)

349 Filter, hah pixy cant context filter spam that hotlinks itself AND colors itself red, cant parse html links, nor support a spellcheck. Were using an alpha release thats five years old, that never made a beta release - and your going to context filter mean people - hell we have trouble banning guys we have to report to the USSS.

Posted by: Jean at August 05, 2011 09:53 PM (4jJCE)

350 Lots of people still confusing tax hikes with revenue raising. Tax CUTS raise revenue, tax HIKES stifle the economy and decrease revenue.

Learn it, believe it, live it, it's true!

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 09:53 PM (tHnoW)

351 Stop. This is the USA, the greatest country in the world. The president has access to the greatest economic brain trust (and he now has to forget their political leanings and use them), he's going to have to rely on republicans and independents and evil banksters to help him.
Posted by: curious at August 05, 2011 09:50 PM (k1rwm)
Hahahaha. You live in a fantasy world.

Posted by: buzzion at August 05, 2011 09:54 PM (GULKT)

352 "I happen to know the Obama Administration is fond of double-counting and faked numbers, so why should I give their claims credence?"

Of course, the same people who rated those crap sandwiches called CDOs "AAA" automatically get respect. Because THEY'RE experts...

Posted by: JEA at August 05, 2011 09:55 PM (1ZnqW)

353 So is S&P now a terrorist too?

Posted by: Jean at August 05, 2011 09:55 PM (4jJCE)

354 Curious, The president has Always had access He has chosen a path, along with his cohorts.
He has threatened impugned characters of those who would try to persuade him. You think He would turn His ideology on a dime now?

Posted by: willow at August 05, 2011 09:57 PM (h+qn8)

355 How long do we have until the depression, then the death spiral?
Posted by: 80sBaby



Took about 3 to 4 years from the 29 crash to the depths of the depression in late 32 early 33. Then things just sort of shuffled along until the Huns bailed us out by getting all testy again.

So, we're right on schedule so far....




Posted by: Laurie David's Cervix at August 05, 2011 09:57 PM (EeYDk)

356 progress you really think so?

Posted by: willow at August 05, 2011 09:51 PM (h+qn
They don't have any "system". The ratings agencies are just voicing their opinions about things, and they aren't very well-informed opinions, at that. It is absolutely nonsensical to call the debt of pretty much any nation that owns its own fiat monetary system to be insecure. The currency might be, but the debt really never is.The US has serious financial and monetary problems. Very serious. But nothing that would warrant anything even close to a downgrade. And, if there was any actual effect of this downgrade, it would be much harsher and more violent on just about every other nation. Downgrading the US means that you pretty much have to downgrade just about everyone else. Otherwise, it's just silliness. But, this is the age of silliness.

Posted by: progressoverpeace at August 05, 2011 09:57 PM (G/MYk)

357 @338 You are probably right about us not really disagreeing much, I just think the repeated reference to "failure to raise revenues" especially in that last paragraph indicate that they have rejected the GOP position. Especially when they start referencing acrimonious attitudes in the same paragraphs. Maybe I am reading to much into it.

There is supposed to be a follow-up on Monday so I'll see what they say then.

Somewhere I just saw an announcement by the Fed that this would have no effect on interest rates / Bonds etc. trying to find the link.

Posted by: chad at August 05, 2011 09:57 PM (WNcvq)

358 AA+
For the Affirmative Action president.

Posted by: Warden at August 05, 2011 09:57 PM (R6lOD)

359 Jean, yes, racist - terrorists

Posted by: willow at August 05, 2011 09:57 PM (h+qn8)

360 The president has access to the greatest economic brain trust...

Too bad he didn't listen to, or hire, any of them.

Posted by: Blacque Jacques Shellacque at August 05, 2011 09:58 PM (UF15p)

361 For the love of God... isn't thereany producer working at FNC this evening?
Why didn't they just runan hour's worth of 1960s"Quick Draw McGraw" cartoon reruns instead?
What's up next after Hannity... a collection of John Stossel's favorite "Give Me A Break" segments?

Posted by: Commissioner Gordon at August 05, 2011 09:58 PM (L00d6)

362 progress, alright . but they have now done so, So what does this do to other countries buying our debt, bonds loans and such?

Posted by: willow at August 05, 2011 09:59 PM (h+qn8)

363 Again I am not saying that they are right I guess what I am saying is
SP has chosen sides and gone against the GOP / Tea Party.
And now you know what the long negotiation with the WH was about.

Posted by: toby928 at August 05, 2011 09:59 PM (GTbGH)

364 354

Curious, The president has Always had access He has chosen a path, along with his cohorts.

He has threatened impugned characters of those who would try to
persuade him. You think He would turn His ideology on a dime now?

Posted by: willow at August 05, 2011 09:57 PM (h+qn
Well, from what I'm hearing from regular ordinary Americans, he has to stop being partisan and focusing on his re election. Oddly enough people see right through this and the only thing that might save his presidency from disgrace now is turning this around. Maybe at the expense of his re election. When this sinks in no one will dare ask that question of whether or not he will secure a second term. They don't want to hear the answer. Even the die hard base is in shock and throwing down shots at this very moment.

Posted by: curious at August 05, 2011 10:00 PM (k1rwm)

365 355 Took about 3 to 4 years from the 29 crash to
the depths of the depression in late 32 early 33. Then things just sort
of shuffled along until the Huns bailed us out by getting all testy
again.So, we're right on schedule so far....


...plus the depression within the depression. But this situation will be worse, obviously.

Posted by: 80sBaby at August 05, 2011 10:00 PM (o2lIv)

366 Greta to the rescue!!!!!

Posted by: curious at August 05, 2011 10:00 PM (k1rwm)

367 Its Official Obama is NOT equal to Carter...

He is now in James Buchanan land....

Obama is partying like it is 1859! YEA!

Posted by: William Eaton at August 05, 2011 10:01 PM (rwioF)

368

JimPethokoukis












Reminder: Last Obama budget
had 10 years where deficits averaged $970 billion a year

Posted by: 80sBaby at August 05, 2011 10:01 PM (o2lIv)

369 Lots of people still confusing tax hikes with revenue raising. Tax CUTS
raise revenue, tax HIKES stifle the economy and decrease revenue.

Except in this context raising revenue is Washington code for raising taxes and trying to pretend otherwise is worthless.


Posted by: chad at August 05, 2011 10:01 PM (WNcvq)

370 Posted by: curious at August 05, 2011 10:00 PM (k1rwm)
You don't know any regular ordinary Americans. You know brain dead New York retards that have the same intellectual capacity you do that go on vacations to Europe because the Hamptons are too crowded.

Posted by: buzzion at August 05, 2011 10:03 PM (GULKT)

371 @ Laurie David's Cervix

We don't have Germanic Tribes to bail us out this time!!

Shit!

Posted by: William Eaton at August 05, 2011 10:03 PM (rwioF)

372 re ratings agencies, Michael Lewis' book about the '08 debacle "The Big Short" beats the crap out of the ratings agencies. Along the lines of : "smart, ambitious, connectedguys go to hedge funds and big houses; smart, maybe not so ambitious, maybe not so connected guysbecome the SEC, or as lawyers; jerk-offs end up at the ratings agencies. And those jerk-offs do what the smart, ambitious, connected guys tell them to do."

Posted by: cleaningmygun at August 05, 2011 10:03 PM (YVgim)

373 This could be Greta's highest rated show

Posted by: cherry π at August 05, 2011 10:03 PM (OhYCU)

374 CAVUTO in the house

Posted by: phreshone at August 05, 2011 10:05 PM (T3vCe)

375 "First US President to have the US debt downgraded on his watch".
per Fox News

Sunday evening here in the US the Asian markets will open. You ever wanted to see full panic in prime time? Sunday night you will see it.

Cavuto on Fox News, looks like they drove him in from a bar.

Posted by: Dick_Nixon at August 05, 2011 10:05 PM (XUZ5X)

376 Look at the bright side....the Chinese made a bad investment....

LOL!

Posted by: William Eaton at August 05, 2011 10:05 PM (rwioF)

377 Fox Business is on it too now. Greta to the rescue indeed turn Fox over to the ladies the guys schtick is getting worn out. IMNHO

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 10:06 PM (tHnoW)

378 ooooo Greta is so pissed she's yelling at Cavuto who seems to have a summer cold.....

Posted by: curious at August 05, 2011 10:08 PM (k1rwm)

379 Stop. This is the USA, the greatest country in the world. The president has access to the greatest economic brain trust (and he now has to forget their political leanings and use them), he's going to have to rely on republicans and independents and evil banksters to help him.
-----------
I just figured everyone had heard of the Great Depression before. I guess not?

Posted by: Rich at August 05, 2011 10:08 PM (PqctR)

380 @352 Look folks, it's a Hope-n-Change Dead Ender.

Posted by: A Balrog of Morgoth at August 05, 2011 10:08 PM (agD4m)

381 It's alright. John McCain says we have nothing to fear from an Obama presidency.

Posted by: The Mega Independent at August 05, 2011 10:09 PM (5I0Yr)

382 Cavuto I feel really bad for. MS, Cancer, and now a front row seat watching the worst financial disaster since 1929. Not a kind hand in life to a financials guy.

Posted by: The Donkey Show at August 05, 2011 10:09 PM (ijjAe)

383 The latest GDP numbers + this downgrade = President Christie. He'd be a fool not run now. Obama can't win.

Posted by: Spike at August 05, 2011 10:09 PM (WLxeI)

384 Posted by: Rich at August 05, 2011 10:08 PM (PqctR)

there are charts out there retracing it....


Posted by: curious at August 05, 2011 10:09 PM (k1rwm)

385 Senator Mike Lee on Greta...

Posted by: phreshone at August 05, 2011 10:11 PM (T3vCe)

386 The latest GDP numbers + this downgrade = President Christie. He'd be a fool not run now. Obama can't win.
---------
No, I'm sorry but only fools would run now. Who the hell wants to fix this mess? Being President already takes a certain type of person....being President that has to oversee this? Yea, takes a REALLY special person.

Posted by: Rich at August 05, 2011 10:11 PM (PqctR)

387 386

The latest GDP numbers + this downgrade = President Christie. He'd be a fool not run now. Obama can't win.

---------

No, I'm sorry but only fools would run now. Who the hell wants to fix
this mess? Being President already takes a certain type of
person....being President that has to oversee this? Yea, takes a REALLY
special person.

Posted by: Rich at August 05, 2011 10:11 PM (PqctR)
R. Lee Ermey.
Done.

Posted by: tangonine at August 05, 2011 10:12 PM (x3YFz)

388
No, I'm sorry but only fools would run now. Who
the hell wants to fix this mess? Being President already takes a certain
type of person....being President that has to oversee this? Yea, takes a
REALLY special person.

Posted by: Rich at August 05, 2011 10:11 PM (PqctR)

RUDY GUILIANI

Posted by: curious at August 05, 2011 10:12 PM (k1rwm)

389 The.. First.. Time..In.. History

And, the sad fact is, it didn't have to be this way.

Cut, Cap, and Balance would, most likely, have avoided it.. It passed the House with an overwhelming, bipartisan majority.. And, it polled a 2/3 approval of the American People.

But no.. The Douchebag Democrats in the Senate, and The Dick in the White House, wouldn't even debate it.

The Cockroaches got their way, and now, they'd like to blame the TEA Party, and Republicans.

Good Luck with that.


Posted by: franksalterego at August 05, 2011 10:13 PM (7/sDI)

390 so cavuto point was no matter how you felt about the rating agency it was bound to happen.
also he related it to japan which was a basket case and it wasn't the end of the world. (kinda making that last thing up, was how i heard it)
But, isn't this different with US dollar being the World currency?

Posted by: willow at August 05, 2011 10:13 PM (h+qn8)

391 Cavuto on Fox News, looks like they drove him in from a bar.

Ha, yeah indeed it did...

Posted by: Jay at August 05, 2011 10:13 PM (Vyhz6)

392 381
It's alright. John McCain says we have nothing to fear from an Obama presidency.


Posted by: The Mega Independent at August 05, 2011 10:09 PM (5I0Yr)
I...
Argh!

Posted by: The guy burning to death on McCain's Carrier at August 05, 2011 10:13 PM (x3YFz)

393 Cavuto strikes me as one of the hardest working guys at Fox-- on both channels.

Posted by: Commissioner Gordon at August 05, 2011 10:14 PM (L00d6)

394 391
Cavuto on Fox News, looks like they drove him in from a bar.

Ha, yeah indeed it did...


Posted by: Jay at August 05, 2011 10:13 PM (Vyhz6)
A true moron.

Posted by: The guy burning to death on McCain's Carrier at August 05, 2011 10:14 PM (x3YFz)

395 sock me in the face!

Posted by: tangonine at August 05, 2011 10:14 PM (x3YFz)

396 Maybe Boehner should go on TV Monday and call the troops back from vacation and send CCB back over to the Socialists and see how bad they want to own this.
Come on jerkoffs lets get this thing on, lets play hard ball with these commies.
Send CCB with teeth in it back to the Pomegranite Grove lover.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 10:14 PM (tHnoW)

397 bachman next

Posted by: willow at August 05, 2011 10:14 PM (h+qn8)

398
No, I'm sorry but only fools would run now. Who
the hell wants to fix this mess? Being President already takes a certain
type of person....being President that has to oversee this? Yea, takes a
REALLY special person.

Posted by: Rich

Narcissism is defined by ignorance of people and events around the narcissist and by infinite self-regard.

It would go against Obama's nature to even contemplate not being the center of all things.

Posted by: weft cut-loop at August 05, 2011 10:15 PM (DEcmU)

399 What are you kidding? No way Cavuto, even left his desk today at all....he was there....he's a true professional....

Posted by: curious at August 05, 2011 10:15 PM (k1rwm)

400 Flamingskullpocalypse.

Posted by: Airquote Sarctag at August 05, 2011 10:15 PM (g2dcw)

401 firesale! buy 2 get 1 free!

Posted by: The Guy Selling Pitchforks and Torches at August 05, 2011 10:15 PM (x3YFz)

402 Tell us curious. Does Donald trump style his tubes the same as his hair. For all the time you spend going down on him and rudy you must know.

Posted by: inquiring minds want to know at August 05, 2011 10:16 PM (i77iO)

403 So Obama tried to intimidate S&P, and basically got told "Don't you bark at me you sad delusional little runt. Your magic accounting isn't worth shit outside of government circles. I don't have to believe in all your phantasms and mythical beasts. You don't get to veto this just because you have POTUS stamped on your big shiny forehead. It will stick. You can't do a #@#$ing thing about it. It will not back off or see reason. It is cold uncaring reality. Now can either deal with it by cutting spending or you can try to ignore it but you can't stare it down. It isn't afraid of your little Chicago VIP act. "

Posted by: cackfinger at August 05, 2011 10:16 PM (a9mQu)

404 Pubes*

Posted by: inquiring minds want to know at August 05, 2011 10:17 PM (i77iO)

405 You can't be a sitting president, and have the current conditions and THIS and NOT get just ass pounded in the next election.

Posted by: tangonine at August 05, 2011 10:17 PM (x3YFz)

406 ... well... he'll get 95% of the black vote. but the other 86% of the population is going to be looking for his head on a pike.

Posted by: tangonine at August 05, 2011 10:18 PM (x3YFz)

407 Triple A rating since 1917. Wow, bachman is on her game tonight.

Posted by: curious at August 05, 2011 10:19 PM (k1rwm)

408 405
You can't be a sitting president, and have the current conditions and THIS and NOT get just ass pounded in the next election.

Unless your competition is a bunch of incompetent RINOs similar to Juan McCain.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 10:19 PM (tHnoW)

409 I guess if Germany annexes bails out Belgium, we are on a WW II trajectory. Hopefully, the Pentagon remembers the winning strategy.

Posted by: PJ at August 05, 2011 10:19 PM (FlVA8)

410 Bachman just called for timmaaay's resignation!

Posted by: curious at August 05, 2011 10:19 PM (k1rwm)

411 why is it the women are the only ones with the balls?

Posted by: curious at August 05, 2011 10:21 PM (k1rwm)

412 408
405
You can't be a sitting president, and have the current conditions and THIS and NOT get just ass pounded in the next election.

Unless your competition is a bunch of incompetent RINOs similar to Juan McCain.


Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 10:19 PM (tHnoW)
If mr. "i got shot down and lived so that makes me qualified to do something other than get shot down and live" were to run again, he'd get about 1% of the electorate.

Posted by: tangonine at August 05, 2011 10:21 PM (x3YFz)

413 Bachman should have called for Obamas resignation Obama has been begging Timma to stay.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 10:21 PM (tHnoW)

414 The more I think about this, the more I think this is the best news in a long time. Not only does this put an exclamation mark on Obama's impending defeat, but it brings entitlement spending front and center. The welfare state is dead.

Posted by: Spike at August 05, 2011 10:23 PM (WLxeI)

415 411
why is it the women are the only ones with the balls?


Posted by: curious at August 05, 2011 10:21 PM (k1rwm)
No shit. Good question. Palin, Bachmann. they ranger up and bring it... romney and the rest of them just wiggle around like spineless little pussies, pardon the term. or dont.

Posted by: tangonine at August 05, 2011 10:23 PM (x3YFz)

416 Posted by: tangonine at August 05, 2011 10:23 PM (x3YFz)

I think this is why Greta got so pissed off at Cavuto....
men just pussy foot around an issue, the women take a stand...Greta is taking a stand....she came in to do her show.....and she's saving Fox from looking like a bunch of fools....

Posted by: curious at August 05, 2011 10:25 PM (k1rwm)

417 389
The.. First.. Time..In.. HistoryAnd,
the sad fact is, it didn't have to be this way.Cut, Cap, and Balance would, most
likely, have avoided it.. It passed the House with an overwhelming,
bipartisan majority.. And, it polled a 2/3 approval of the American
People.But no.. The Douchebag Democrats in the Senate, and The
Dick in the White House, wouldn't even debate it.The Cockroaches
got their way, and now, they'd like to blame the TEA Party, and
Republicans.Good Luck with that.


I wish McConnell had made more noise RE the tabling of CCB, but the Dems would not have cared. They still do not act like they care, though perhaps fear of losing the next election might make them change their minds. I cannot understand the mentality of the liberals.

Posted by: 80sBaby at August 05, 2011 10:26 PM (o2lIv)

418 There's enough blood in the water.

The question is will the conservatives of our nation smell it and finally kill this liberal hippie commie socialist failure where it floats? Or will we let it squiggle around and recover?

Kill it now.

Posted by: tangonine at August 05, 2011 10:26 PM (x3YFz)

419 414
The more I think about this, the more I think this is the best news in a
long time. Not only does this put an exclamation mark on Obama's
impending defeat, but it brings entitlement spending front and center.
The welfare state is dead.

So we can return to debating Ryan's budget sooner rather than waiting until next month...perhaps. Certainly hope so.

Posted by: 80sBaby at August 05, 2011 10:27 PM (o2lIv)

420 Bachman was on fire on Greta. That no vote earlier this week sure makes her look rather smart.

Mittens may not be the front runner anymore

Posted by: Dick_Nixon at August 05, 2011 10:27 PM (XUZ5X)

421 416
Posted by: tangonine at August 05, 2011 10:23 PM (x3YFz)

I think this is why Greta got so pissed off at Cavuto....
men
just pussy foot around an issue, the women take a stand...Greta is
taking a stand....she came in to do her show.....and she's saving Fox
from looking like a bunch of fools....


Posted by: curious at August 05, 2011 10:25 PM (k1rwm)
and Greta is a democrat. But she's got an aircraft carrier out back to carry her cajones.

Posted by: tangonine at August 05, 2011 10:28 PM (x3YFz)

422 You think, yesterday was a bad day in the Stock Market?

Wait'll Monday.

Posted by: franksalterego at August 05, 2011 10:28 PM (7/sDI)

423 Posted by: 80sBaby at August 05, 2011 10:27 PM (o2lIv)

Ryan's budget won't do it now. Bachman called on the resident to produce a plan and do his job.

It's getting serious.


Posted by: curious at August 05, 2011 10:28 PM (k1rwm)

424 420
Bachman was on fire on Greta. That no vote earlier this week sure makes her look rather smart.

Mittens may not be the front runner anymore



Posted by: Dick_Nixon at August 05, 2011 10:27 PM (XUZ5X)
Yeah I think mittens is done. Hell, I wouldn't have voted for his lame ass before this, but now? I'll campaign against him. I'd run my parrot against him and win, at least my parrot is cute and can talk.

Posted by: tangonine at August 05, 2011 10:29 PM (x3YFz)

425 422
You think, yesterday was a bad day in the Stock Market?

Wait'll Monday.


Posted by: franksalterego at August 05, 2011 10:28 PM (7/sDI)
I actually thought I was being clever and picked up some bargains today... but now all bets are off. Good thing I follow the golden rule: Never invest what you are not prepared to lose.

Posted by: tangonine at August 05, 2011 10:31 PM (x3YFz)

426 Posted by: tangonine at August 05, 2011 10:29 PM (x3YFz)

start reading between the lines at the financial sites. I'm feeling like odd stuff is going to start trickling out...

Posted by: curious at August 05, 2011 10:31 PM (k1rwm)

427 #403 - Such a typical Obama move. Can't you just hear the snippy little "Go back and check your numbers" from the Teaching Assistant in Chief? I'm glad they told him "Check this number, pal."

Posted by: Dr. Mabuse at August 05, 2011 10:31 PM (jgkJo)

428 trump pounding romney for being a big pussy

Posted by: curious at August 05, 2011 10:33 PM (k1rwm)

429 Palin. facebook. post

Posted by: Flapjackmaka at August 05, 2011 10:33 PM (kG75t)

430 Math is racist!

Posted by: Truck Monkey at August 05, 2011 10:33 PM (jucos)

431 Let's go over this, one more time...

If you were INTENT on destroying the American economy, would you do anything differently than this administration?

Posted by: franksalterego at August 05, 2011 10:34 PM (7/sDI)

432 see trump just said "I have many friends in asia".....see i'm not the only one with a lot of friends!

Posted by: curious at August 05, 2011 10:35 PM (k1rwm)

433 did Greta just say "Sarah Palin is here"?

Posted by: curious at August 05, 2011 10:36 PM (k1rwm)

434 "But, isn't this different with US dollar being the World currency? "
It only give us a bit more time. the UK sterling in the early 20th century was the world's reserve currency, until it could no longer pay its debt in thesame value, the world recognized this, and the US dollar after WWII became the world's reserve currency.
There is no gurantee of the US dollar being the reserve currency, and if Barry has his way of redistributing wealth, there will be no growth to grow out of this andcut spending.On the SP report it says its downgraded to AA+ as of now, and within 12-16 months it can get downgraded some more.

Posted by: johnc_recent_EXdem at August 05, 2011 10:38 PM (ACkhT)

435 Now the hyperinflation starts in earnest. Review Argentina in 1991-92 or the Weimar Republic. Or review the value of gold in the past decade.

I pity this country, its been looted by both parties, the RINOs and Lefties. Now lets see them explain the decade or more of stagnation and suffering.

Posted by: Molon Labe at August 05, 2011 10:38 PM (g5MrG)

436 The Repubs need to be all over this NOW and not let the socialists spin this as the Tea Partys fault. Boehner needs to cancel vacation and pass Cut, Cap and Balance on steroids on Tuesday and send it to the senate Wed.
Kick em when their up and kick em when their down, but whatever you do just kick the clowns.

Posted by: Tea Party Proud and Gonna Stay Loud at August 05, 2011 10:39 PM (tHnoW)

437 Cavuto back on.

Posted by: Jay at August 05, 2011 10:40 PM (Vyhz6)

438 I really hope Rick Perry runs, I cannot stand Romney, a spineless wimp, I don't trust him one bit if he gets elected. I was a strong uncompromising consitutional limited govt president, and Romney ain't it!

Posted by: johnc_recent_EXdem at August 05, 2011 10:44 PM (ACkhT)

439 It only give us a bit more time. the UK sterling
in the early 20th century was the world's reserve currency, until it
could no longer pay its debt in thesame value, the world recognized
this, and the US dollar after WWII became the world's reserve currency.


Posted by: johnc_recent_EXdem at August 05, 2011 10:38 PM (ACkhT)
There was no real world trade back then. There was lots of international trade, for sure, but the world was split up into currency regions.It was the dollar that first made true global trade possible, as it got rid of the old European currency regions and allowed for true worldwide trade.

Posted by: progressoverpeace at August 05, 2011 10:44 PM (G/MYk)

440 "I**want** a strong uncompromising consitutional limited govt president, and Romney ain't it!"

Posted by: johnc_recent_EXdem at August 05, 2011 10:45 PM (ACkhT)

441 I told you so.

Posted by: mitch mcconnell at August 05, 2011 10:47 PM (k1rwm)

442 "436 The Repubs need to be all over this NOW and not let the socialists spin this as the Tea Partys fault."
Lol, are you kidding, the establishment will barely put up a fight. They will relish this, didn't you pay attention to who they focused on Nov 2010??? They wanted to diminish the power of Sarah Palin and the corrupt the Tea Party members.

Posted by: Africanus at August 05, 2011 10:48 PM (nBPN8)

443 "It was the dollar that first made true global trade possible, as it got rid of the old European currency regions and allowed for true worldwide trade. "
Not really, Gold was the global currency for many many years, before America's existance even, then came along fiat money, which works if backed by gold or some limited commodity, after Nixon's term, that wasno longer the case forUS dollar.
And global trade always existed, with or without the US dollar, it was the engine of massive economic growth that made and kept the US dollar as the reserve currency, as that growth wanes, so does the possiblity of keeping the dollar as the reserve, and the world is deciding this.

Posted by: johnc_recent_EXdem at August 05, 2011 10:49 PM (ACkhT)

444 Kudlow had a camera in Bridgehampton tonight....wonder if all the wonder kids will be driving back tonight...walking back what they said on Kudlow....

Posted by: curious at August 05, 2011 10:54 PM (k1rwm)

445 The Repubs need to be all over this NOW and not let the socialists spin this as the Tea Partys fault."
Posted by: Tea Party Proud



Sorry On August vacation .
C U in September. LOL!

- Congressional Republicans

Posted by: Laurie David's Cervix at August 05, 2011 10:54 PM (EeYDk)

446 They better be organizing Tea Party rallies all over the country.

Posted by: cherry π at August 05, 2011 10:55 PM (OhYCU)

447 re: "raising revenues"

I haven't yet heard anyone push back on this with the observation that the government is not actually capable of "raising revenues". They can increase the rate at which things are taxed, but they cannot guarantee that those things will continue to happen. "Revenues" are a function of both tax rates and the behavior of people, and a tax increase that the CBO measures as a $1T increase in revenue may or may not ever result in an additional $1T in tax receipts.

Spending cuts, on the other hand, can be made unilaterally. If the government doesn't spend $1T, it doesn't spend $1T. It's a sure thing.

I suspect that even SP knows this, but included the language about revenues as a sop to the White House. I can't blame them, given the retaliatory record of this administration against what it perceives to be its opponents in commerce.

Posted by: jeopardyjackson at August 05, 2011 10:55 PM (2gd6S)

448 John the ex dem thank you for your response

Posted by: willow at August 05, 2011 10:56 PM (h+qn8)

449 no speech? We've had 5 days of speeches and no speech now?

Posted by: curious at August 05, 2011 10:56 PM (k1rwm)

450 mmmmm Oh yes trumpy please tell me more. *slurp slurp slurp*

Posted by: curiously stupid at August 05, 2011 10:59 PM (GULKT)

451 Town Hall meetings ought to be a real gas this month.

Posted by: A Balrog of Morgoth at August 05, 2011 10:59 PM (agD4m)

452 451
Town Hall meetings ought to be a real gas this month.


Posted by: A Balrog of Morgoth at August 05, 2011 10:59 PM (agD4m)

what town hall meetings....we're going to Israel with Glenn Beck!

Posted by: curious at August 05, 2011 11:00 PM (k1rwm)

453 Posted by: willow at August 05, 2011 10:56 PM (h+qn
you're welcome. I learn a lot from a site called zerohedge dot come as well as jsmineset dot com, both are excellent for explaining financial items.

Posted by: johnc_recent_EXdem at August 05, 2011 11:01 PM (ACkhT)

454 A Balrog,
I imagine many will be trying to figure out if they can do it telo conference style.

Posted by: willow at August 05, 2011 11:02 PM (h+qn8)

455 "Joint Statement By The Fed, The FDIC, NCUA And OCC"

Posted by: curious at August 05, 2011 11:05 PM (k1rwm)

456 what I find interesting is idiot dems are already blaming the tea party for this and screaming that revenues -- meaning for them taxes -- need to be raised. Yep, that's make businesses hire more people and create more wealth, so Barry can spread it around.
This is going to get very interesting, the bounds of lunacy is now going to be front and center.

Posted by: johnc_recent_EXdem at August 05, 2011 11:06 PM (ACkhT)

457 I think the democrat party really needs to be called the "democrat socialist party", like the political party in Europe. This new version of the democrat part is virtually unrecognizable from what is was just a few decades ago.

Posted by: johnc_recent_EXdem at August 05, 2011 11:09 PM (ACkhT)

458 John, yes i know of the site, i like tyler's posts but the commenters Yisrael /jew bashing drove me off.
Im sure if i read it this week-end i'd be heading for the hills with water and stores.

Posted by: willow at August 05, 2011 11:11 PM (h+qn8)

459 Now I understand why JEF rated himself a B+ - he was using the bond rating system.

Posted by: Vashta Nerada at August 05, 2011 11:12 PM (9Uxl0)

460 john, as for socialists dem party i agree. these aren't the dems we grew up with.
it would be more honest

Posted by: willow at August 05, 2011 11:13 PM (h+qn8)

461 Posted by: willow at August 05, 2011 11:11 PM (h+qn
Yes, I agree, some of the comments, well, not good at all, but I just read the posts usually now, most the commentors go off on some very weird tangents.

Posted by: johnc_recent_EXdem at August 05, 2011 11:15 PM (ACkhT)

462 In an odd way, were it not for the 22 and the tea party, the ratings downgrade might have been worse.

Posted by: curious at August 05, 2011 11:16 PM (k1rwm)

463 Ace sucks power cock.

Posted by: eric rudolph at August 05, 2011 11:16 PM (iXfet)

464 Fuck off erg

Posted by: buzzion at August 05, 2011 11:17 PM (GULKT)

465 Posted by: johnc_recent_EXdem at August 05, 2011 11:15 PM (ACkhT)

been reading zero hedge since day 1 when it was tyler's new blog....those early archives are worth reading.


Posted by: curious at August 05, 2011 11:19 PM (k1rwm)

466 SP is racist against our President Of Color. I call on AT Holder to seek RACISM Charges against this 'White Crackers" in SP. President Obama is trying so hard to save the world from the"FUCKING IDIOT BUSH". Please Allah have mercy on our Young President of Color and Islam Faith !!!!!!!

Posted by: Emanual Clever at August 05, 2011 11:29 PM (qXGZK)

467 Now that was easy!


Posted by: USNA1985 at August 05, 2011 11:38 PM (U3TDy)

468 And as soon as the debt deal passes, Bill Mitchell disappears.

Thanks douchebag.

Posted by: Old grizzled gym coach at August 05, 2011 11:44 PM (QBQcg)

469
"In unquestioning obedience to the SP downgrade, I have unilaterally revalued my investments downward by 5%.



Also, in SP fashion, I've overvalued my girlfriend's draw on my wallet and downgraded her to "SEEYA"."
this has to be a moron....

Posted by: curious at August 05, 2011 11:46 PM (k1rwm)

470 SP are a bunch of terrorists holding our credit rating hostage!

Posted by: Joe Biden at August 05, 2011 11:51 PM (JKX4x)

471
From the comments at Zero Hedge:

"I find this hard to believe, I have posted more than once that they wouldn't do this for fear of retribution.

There might be more to this downgrade than meets the eye. I would love to believe SP did this in the face

of the administration, but somewhere in the logical part of my brain, I get the feeling that they were put up to it

by Obama for some diabolical reason that I can't quite yet fathom. Any Ideas out there?"

zorba THE GREEK Fri, 08/05/2011 - 21:41



Posted by: curious at August 06, 2011 12:10 AM (k1rwm)

472
How classless, challenging the SP's numbers. Not just classless but clumsy. They're playing checkers. Maybe. It's really not much more than the card game, war. Yeah, I'm sure the SP is going to get right on that upgrade when/if things turnaround.
It's a White House full of wide receivers. Where's the beef?

Posted by: East Bay Jay at August 06, 2011 12:16 AM (svwGR)

473 Already the spin is being constructed. Right now, it's the Tea Party that caused this. If you point out that SP warned before the debt talks that there needed to be massive cuts, then they turn around and say you want the crooked financial institutions to be in charge of the gov't. I'd feel bad for them, but they wanted this mess to happen.

Posted by: FPW at August 06, 2011 12:19 AM (BDNF5)

474 "Jaye SouthworthThese Depression quotes sound exactly what is being said today by TPTB:

September 1929

There is no cause to worry. The high tide of prosperity will continue. Andrew W. Mellon, Secretary of the Treasury.

October 14, 1929

Secretary
Lamont and officials of the Commerce Department today denied rumors
that a severe depression in business and industrial activity was
impending, which had been based on a mistaken interpretation of a review
of industrial and credit conditions issued earlier in the day by the
Federal Reserve Board. New York Times "
there are a lot more. it's scarily fascinating.

Posted by: curious at August 06, 2011 12:52 AM (k1rwm)

475 OTOH the SP are acting "politically", to harm the Obama administration.

OTOH, the SP areacting "politically", taking aim at the Tea Party and GOP.

Take yer frackin' pick.

Posted by: Jim Sonweed at August 06, 2011 01:10 AM (q9yZk)

476 Yes we can.

Posted by: Jay Guevara at August 06, 2011 01:39 AM (QKXf+)

477 SP is either just trying to show muscle or has reached an accommodation with Obama to include a line about our refusal to raise taxes as one of the reasons for it.

In the real world, our 2 year note is soaring, dropping the yield to 0.25% - yes, that is one-quarter of 1% - an all-time low, and our 10-year note is yielding only 2.00 flat. This will save us $30 billion a year in interest costs compared to the rates LAST WEEK.

The world knows where their money is safest. SP is slapping our faces and we need to slap back. Obama is too busy whimpering to act, though - or is he partying again tonight?

Posted by: Adjoran at August 06, 2011 02:03 AM (VfmLu)

478 OTOH - Gun Runner - What's going on? Are we being diverted? Hello? Eric Holder? Whatcha doin' over there at Justice? Guns to Mexican drug lords? Americans killed? Guns turning up in U.S. crime scenes? Hello?

Pressure needs to be kept on all fronts in this...."administration"

The hits are coming from all sides. Economic, social, and national security....all at once.

Calgon! Take me away!!!!!!!


Posted by: Russkilitlover at August 06, 2011 02:08 AM (fSQjC)

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Posted by: ladiono at August 06, 2011 02:57 AM (gxWd4)

480 Double A is Nothing, We're going for B+.

Posted by: sTevo at August 06, 2011 10:47 AM (Spd4/)

481
Two words, Ace

"Flaming skull"

Posted by: cat at August 06, 2011 11:31 AM (x0PlF)

482 Obama is giving us his solid B+......... bond rating.

Posted by: bmfuller78 at August 06, 2011 11:52 AM (YhlWP)

483 This downgrade was the only fair thing to do.

SP has realized that they dodged a bullet with the MBS ratings.
They know, based on the fool me one, shame on you; fool me twice, shame
on me logic, that they wont get anything even approximating the free
pass the got last time.

If it is based on a math error, Im sure that in no time, the government can
borrow and spend their way there, unless they take it as a warning, a
wakeup call, but we all know they wont.

The tax increase meme does cut it because in the past virtually
every effort to make spending cuts was answered (if it was answered at
all) with accountant tricks.

Our government, and Democrats in particular, look at spending cuts
about the same way they look at border security its an impediment
to getting what they really want, either more spending or more
grateful new voters.

Its time to make spending cuts mean something real, before we think about new taxes.
Eventually, Socialists run out of other peoples money Margaret Thatcher

Time has come today The Chambers Brothers

Posted by: Barney Frank at August 06, 2011 02:30 PM (e8kgV)

484


The downgrade is one more item on the funny list from the
piece "Reasons Why Obama Should Be Re-Elected" at Robbing America.


Ten-plus
short conclusions that cannot be disputed; or perhaps people herecan.

Posted by: john Galt at August 07, 2011 12:13 AM (a6eum)

485 I just cant stop reading this. Its so cool, so full of information that I just didnt know. Im glad to see that people are actually writing about this issue in such a smart way, showing us all different sides to it.

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