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S&P Cuts US Credit Rating to AA+
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<blockquote data-quote="The Other Side" data-source="post: 864508" data-attributes="member: 17969"><p>geez, a little early to hit the hops eh Hoax?</p><p></p><p>FROM S&P: ""<span style="color: #000000"><span style="font-size: 12px">""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</span><strong><span style="font-size: 18px">, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process.</span></strong></span><span style="font-size: 12px"><span style="color: #000000"> 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.""</span></span></p><p><span style="font-size: 12px"><span style="color: #000000"></span></span></p><p><span style="font-size: 12px"><span style="color: #000000">Let me break this down for you.</span></span></p><p><span style="font-size: 12px"><span style="color: #000000"></span></span></p><p><span style="font-size: 12px"><span style="color: #000000">The S&P wanted to see Tax Increases along with deep cuts in order to address the deficit problem. Given the political rhetoric coming from the right wing tea party nutcases, they dont see any agreements in the future to raise REVENUES (TAXES) in the future and any hopes of cutting the deficit is not promising.</span></span></p><p><span style="font-size: 12px"><span style="color: #000000"></span></span></p><p><span style="font-size: 12px"><span style="color: #000000">The S&P does indeed want tax increases. Thats what raising revenues means.</span></span></p><p><span style="font-size: 12px"><span style="color: #000000"></span></span></p><p><span style="font-size: 12px"><span style="color: #000000">Dont play on words Hoax, you sound like foxed spews.</span></span></p><p><span style="font-size: 12px"><span style="color: #000000"></span></span></p><p><span style="font-size: 12px"><span style="color: #000000">You stand corrected.</span></span></p><p><span style="font-size: 12px"><span style="color: #000000"></span></span></p><p><span style="font-size: 12px"><span style="color: #000000">Peace.</span></span></p></blockquote><p></p>
[QUOTE="The Other Side, post: 864508, member: 17969"] geez, a little early to hit the hops eh Hoax? FROM S&P: ""[COLOR=#000000][SIZE=3]""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[/SIZE][B][SIZE=5], or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process.[/SIZE][/B][SIZE=5][/SIZE][/COLOR][SIZE=3][COLOR=#000000] 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."" Let me break this down for you. The S&P wanted to see Tax Increases along with deep cuts in order to address the deficit problem. Given the political rhetoric coming from the right wing tea party nutcases, they dont see any agreements in the future to raise REVENUES (TAXES) in the future and any hopes of cutting the deficit is not promising. The S&P does indeed want tax increases. Thats what raising revenues means. Dont play on words Hoax, you sound like foxed spews. [/COLOR][/SIZE] [SIZE=3][COLOR=#000000]You stand corrected. [/COLOR][/SIZE] [SIZE=3][COLOR=#000000]Peace.[/COLOR][/SIZE] [/QUOTE]
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