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Author Topic: These morons caused our downgrade  (Read 119 times)
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Pepsi
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« on: August 12, 2011, 01:00:49 PM »

After Triggering Downgrade, Debt Default Skeptics Try To Run From Their Records — But They Can’t

Standard & Poors has a specific justification for downgrading the U.S. bond rating, and it's deadly for Republicans. It wasn't just that Congress showed itself to be reckless and dysfunctional, or that the GOP shows no sign of ever ending their anti-tax jihad. It's that for a period of weeks, some lawmakers (read: Republicans) were quite literally shrugging off the risks of blowing past the August 2 deadline, running out of borrowing authority, and missing payment obligations.

"[P]eople in the political arena were even talking about a potential default," said Joydeep Mukherji, senior directior at S&P. "That a country even has such voices, albeit a minority, is something notable," he added. "This kind of rhetoric is not common amongst AAA sovereigns."

This is unambiguous, and leaves little room for obfuscation. S&P's original, lengthy statement explaining the downgrade cited political dysfunction in Congress quite broadly, but did not mention this specific element of the debate. For weeks, high-profile conservative lawmakers practically welcomed the notion of exhausting the country's borrowing authority, or even technically defaulting. Others brazenly dismissed the risks of doing so. And for a period of days, in an earlier stage of the debate, Republican leaders said technical default would be an acceptable consequence, if it meant the GOP walked away with massive entitlement cuts in the end.

http://tpmdc.talkingpointsmemo.com/2011/08/after-triggering-downgrade-debt-default-skeptics-try-to-run-from-their-records----but-they-cant.php?ref=fpa

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foodserver
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« Reply #1 on: August 12, 2011, 01:13:12 PM »

Pepsi quotes,

Republican leaders said technical default would be an acceptable consequence, if it meant the GOP walked away with massive entitlement cuts in the end.

Absolutely!  Those poor people aren't going to starve themselves you know!  Smiley
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The most successful men I know will tell you that they are only successful because they are able to accept ‘no’ and not take it personally. Again, unsuccessful men take a ‘rejection’ as a personal assault on their inner child. Don’t make this mistake.
IM2
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« Reply #2 on: August 16, 2011, 02:12:50 PM »

foodserver,

You were hoping for a default yourself dumb ass.
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