S&P Downgrades the USA - Page 3

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  1. #21
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    Quote Originally Posted by The Pun View Post
    Should have been downgraded lower years ago, The US economy and government is a joke.
    +1.

    I think it hilarious people are blamming S&P for extending our recession. I can't believe their spokesperson didn't take advantage of that statement to say "don't blame the messenger." The US Government has had money problems for decades. I'm hoping this downgrade will open the eyes of the average citizens. Although...those taking handouts likely won't care about the big picture.
    -Patrick

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    There are rumors floating that it was political as we complied with the numbers portion
    East bound and down, loaded up and truckin',
    we're gonna do what they say can't be done.

  3. #23
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    Quote Originally Posted by Forfend View Post
    There are rumors floating that it was political as we complied with the numbers portion
    How is that? S&P was clear about the 4 trillion...and we cut what...2.5?
    -Patrick

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  5. #24
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    http://yro.slashdot.org/story/11/08/08/1249256/SampPs-2-Trillion-Math-Mistake
    East bound and down, loaded up and truckin',
    we're gonna do what they say can't be done.

  6. #25
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    Quote Originally Posted by saintv90 View Post
    +1.

    I think it hilarious people are blamming S&P for extending our recession. I can't believe their spokesperson didn't take advantage of that statement to say "don't blame the messenger." The US Government has had money problems for decades. I'm hoping this downgrade will open the eyes of the average citizens. Although...those taking handouts likely won't care about the big picture.
    when the handouts get cut, riots will emerge so they will care then
    L4P's Advisor on Pink Tacos and Manual Gearboxes

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  7. #26
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    “I could end the deficit in 5 minutes.

    You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.” - Warren Buffett.

  8. #27
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    Quote Originally Posted by jibaholic101 View Post
    “I could end the deficit in 5 minutes.

    You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.” - Warren Buffett.
    +1. Smart man!
    -Patrick

  9. #28
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    Our government has the power to put an end to everything but they don't for political reasons. It's all smoke and mirrors these days with no action.

    Here's a fun exercise

    o US tax revenue: $2,170,000,000,000
    o Federal Budget: $3,820,000,000,000
    o New Debt: $1,650,000,000,000
    o National Debt: $14,271,000,000,000
    o Recent Budget Cuts: $38,500,000,000

    Now for fun let's remove 8 of those zeros and apply this to a family budget

    Family Annual Income: $21,700
    Money Spent: $38,200
    New Credit Card Debt: $16,500
    Outstanding Debt on CC: $142,710
    Spending Cuts: $385

    Any questions?

  10. #29
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    Quote Originally Posted by jibaholic101 View Post
    Our government has the power to put an end to everything but they don't for political reasons. It's all smoke and mirrors these days with no action.

    Here's a fun exercise

    o US tax revenue: $2,170,000,000,000
    o Federal Budget: $3,820,000,000,000
    o New Debt: $1,650,000,000,000
    o National Debt: $14,271,000,000,000
    o Recent Budget Cuts: $38,500,000,000

    Now for fun let's remove 8 of those zeros and apply this to a family budget

    Family Annual Income: $21,700
    Money Spent: $38,200
    New Credit Card Debt: $16,500
    Outstanding Debt on CC: $142,710
    Spending Cuts: $385

    Any questions?
    to be fair, the government has had this coming for decades. All this bs on everyone should be able to live in the home they want and drive the car they want. 100% mortgages and 100% financed cars and even ghetto people financing their rims.. LOL It screwed the country over but hey, everyone has what they want... My uncle lives in Thailand and said they are about to start that nonsense over there too!
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  11. #30
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    Quote Originally Posted by Sir Robbins View Post
    to be fair, the government has had this coming for decades. All this bs on everyone should be able to live in the home they want and drive the car they want. 100% mortgages and 100% financed cars and even ghetto people financing their rims.. LOL It screwed the country over but hey, everyone has what they want... My uncle lives in Thailand and said they are about to start that nonsense over there too!
    Fed forcing banks to make toxic loans + uneducated reckless consumer = economic mayhem.

    But I blame mostly the fed. Look into the fair housing legislation passed by frank and Dodd....same guys that want to re write wall street regulation and 'fix' the economy. They want everyone to sacrifice but they themselves have taken no pay or benefit cut. Obama saying he wants to go after jet owners while he and his wife fly in a convoy that puts middle eastern royalty to shame traveling like it's 1999 on tax $. The level of hypocrisy and corruption is insane....

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