Posted on 07/28/2011 4:15:05 PM PDT by verklaring
The "most-recent" proposals cut anywhere from nothing in actual spending (Democrat proposal) for 2012 to $90 billion (Republican.) And neither contains any actual cuts on a forward basis - the Republicans are at least honest about it and say they just "hold discretionary non-defense spending at 2011 levels."
That's not a cut in spending.
(Excerpt) Read more at market-ticker.org ...
Good. I *WANT* the US to be downgraded. That way more of the budget will go to interest and then less will go to things like providing free educations, free health care, and Social Security to ILLEGAL ALIENS.
It's 4 TRILLION!!!!
S&P stated yesterday $4MIL$4TRIL is needed to prevent a downgrade; today the president of S&P said that is not accurate followed by another S&P statement saying that $4MIL$4TRIL in cuts is needed.
We’re on our way to officially being a 3rd world shithole.
Thanks Obama
S&P said that US needs 7.5 Trillion in cuts.
I assume US debt will be downgraded to AA later this year. My question: how much will interest rates rise with a downgrade to AA.
That’s not the figure Limbaugh was quoting this afternoon. Where did you see that?
“I assume US debt will be downgraded to AA later this year. My question: how much will interest rates rise with a downgrade to AA.”
Probably a point and a half to 2 points. Look at other Sovereign Debt countries with AA ratings.
What will immediately happen is that mortgage rates will jump fast. Housing will be hit hardest right off the bat. Then car loans.
Remember the old saying from the past:
“Use it up, ware it out, make it do, or do without!”
That will be the new motto fo the US.
absolutely true.
we need major spending cuts now, not 10 years from now.
i like silverleaf’s idea of returning to the 2006 budget.
Probably a point and a half to 2 points. Look at other Sovereign Debt countries with AA ratings.
Two points! Wow. Will rates on treasury bonds and CDs go up this much also?
“This downgrade will happen no matter what is passed.”
The US has ALREADY been down graded!!! Wake up Jackasses!!!!
Stupid plus greedy, mixed in with a huge amount of corruption... After all, when a politician is robbing Peter to pay Paul, he knows he can always count on Paul's vote.
Only total ruin of the nation “may” dislodge them
Or make them our rulers for life.
Mark
| Liberty Free Press |
| Morning Edition - Friday, July 29, 2011 |
| Socialist ‘visionary’ causes historic debt, triggers downgrade of US creditworthiness |
| With the promise of Hope & Change sensibly decomposing in the election heap of 2008, taxpayers turn to the priorities of economic survival. Not adverse to the menacing stench of disaster, members of both Houses continue on the visionary's path of insolvency in defiance of the elctorate... |
T-Bonds and CD’s up 2 points, yeah they could go up by that much. Would be nice to see some returns go up, but that would effectively double the US interest payment on all future debt.
I would think we'll go under if US interest payments go up that much. Sheesh, these politicians are idiots!
This is what the American people needed to hear from day one... Now republicans need to get out front and tell the American People America’s credit downgrade is directly the fault of Democrats who refused to support Cut Cap and Balance.
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