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Moody's says U.S. needs to find more deficit cuts
Reuters ^ | Mon Aug 8, 2011 | Walter Brandimarte

Posted on 08/08/2011 6:17:21 AM PDT by markomalley

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To: icwhatudo

Yep, I read it that way too. Harry Reid and Brak 0bama want to increase the tax burden on an economy that is clearly headed into another recession and will produce even less tax revenue.

Up to now I waffled between 0bamunism as an economic philosophy as based on ignorance or malevolence. At this point the destruction of economy is nothing but deliberate malevolence.


21 posted on 08/08/2011 7:57:59 AM PDT by henkster (Ethanol belongs in a beer can, not a gas tank.)
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To: gargoyle

LOL


22 posted on 08/08/2011 7:59:23 AM PDT by ladyjane
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To: markomalley

The release of this “statement” by Moody’s tells me they were surprised and caught flat-footed by S & P.


23 posted on 08/08/2011 8:05:56 AM PDT by Lancey Howard
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To: ladyjane

...Thanks Mary, upppp, sorry, Ladyjane(-;>...


24 posted on 08/08/2011 8:08:30 AM PDT by gargoyle (...This looks like a good fight, deal me in...)
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To: devolve

25 posted on 08/08/2011 8:09:25 AM PDT by Lancey Howard
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To: Friendofgeorge

I am going to put my tin foil hat on and say that barry doesn’t really mind all this happening now. He is getting the downgrade out of the way during the summer and way before the election. All of these ratings agencies are still under threat of DOJ investigation/intimation for the 2008 market collapse. They are just in CYA mode and won’t be constantly pounding the dims on this issue.


26 posted on 08/08/2011 8:12:33 AM PDT by lodi90
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To: Dubya-M-DeesWent2SyriaStupid!

For some reason, they just can’t fathom spending less.
Either it’s an ideological blindspot, or they have something nefarious in mind, because this out of control spending will destroy this country.


27 posted on 08/08/2011 8:16:09 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: markomalley
2013, eh? They really are going out on a limb here.../sarc
28 posted on 08/08/2011 8:20:26 AM PDT by goodnesswins
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To: mlocher

You absolutely are correct.

Behind the curve and way behind on credibility. Their pronouncements are forever more to be taken as politically tainted


29 posted on 08/08/2011 8:22:06 AM PDT by bert (K.E. N.P. +12 ....Rats carry plague)
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To: Dubya-M-DeesWent2SyriaStupid!

I have no idea, just saying that young Mark G of Moody`s is a dirt bag Democrat.

Are you sure that Moody`s have never implied that the Democrat plan was not a way to go?


30 posted on 08/08/2011 8:22:45 AM PDT by Friendofgeorge (DID I MENTION...SARAH PALIN 2012 OR FLIPPIN BUST)
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To: markomalley

yet another racist ratings agency? \sarc


31 posted on 08/08/2011 8:29:51 AM PDT by MNDude (so that's what they meant by Carter's second term)
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To: markomalley
Moody's says U.S. needs to find more deficit cuts

The Democrats will not allow any reform to Entitlements (Social Security, Medicare, Medicaid); or to Welfare programs.

So, good luck with that.


32 posted on 08/08/2011 8:33:03 AM PDT by SkyPilot
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To: markomalley

These are all the programs that the new Republican House has proposed cutting.

Corporation for Public Broadcasting Subsidy. $445 million annual savings.

Save America ‘s Treasures Program. $25 million annual savings.

International Fund for Ireland . $17 million annual savings.

Legal Services Corporation. $420 million annual savings.

National Endowment for the Arts. $167.5 million annual savings.

National Endowment for the Humanities. $167.5 million annual savings.

Hope VI Program.. $250 million annual savings.

Amtrak Subsidies. $1.565 billion annual savings.

Eliminate duplicative education programs. H.R. 2274 (in last
Congress), authored by Rep. McKeon, eliminates 68 at a savings of $1.3 billion annually.

U.S. Trade Development Agency. $55 million annual savings.

Woodrow Wilson Center Subsidy. $20 million annual savings.

Cut in half funding for congressional printing and binding. $47 million annual savings.

John C. Stennis Center Subsidy. $430,000 annual savings.

Community Development Fund. $4.5 billion annual savings.

Heritage Area Grants and Statutory Aid. $24 million annual savings.

Cut Federal Travel Budget in Half. $7.5 billion annual savings.

Trim Federal Vehicle Budget by 20%. $600 million annual savings.

Essential Air Service. $150 million annual savings.

Technology Innovation Program. $70 million annual savings.

Manufacturing Extension Partnership (MEP) Program. $125 million annual savings.

Department of Energy Grants to States for Weatherization. $530 million annual savings.

Beach Replenishment. $95 million annual savings.

New Starts Transit. $2 billion annual savings.

Exchange Programs for Alaska Natives, Native Hawaiians, and Their Historical Trading Partners in Massachusetts . $9 million annual savings. What the hell is this anyway…?

Intercity and High Speed Rail Grants. $2.5 billion annual savings.

Title X Family Planning. $318 million annual savings.

Appalachian Regional Commission. $76 million annual savings.

Economic Development Administration. $293 million annual savings.

Programs under the National and Community Services Act. $1.15 billion annual savings.

Applied Research at Department of Energy. $1.27 billion annual savings.

FreedomCAR and Fuel Partnership. $200 million annual savings.

Energy Star Program. $52 million annual savings.

Economic Assistance to Egypt . $250 million annually.

U.S. Agency for International Development. $1.39 billion annual savings.

General Assistance to District of Columbia . $210 million annual savings.

Subsidy for Washington Metropolitan Area Transit Authority. $150 million annual savings.

Presidential Campaign Fund. $775 million savings over ten years.

No funding for federal office space acquisition. $864 million annual savings.

End prohibitions on competitive sourcing of government services. Repeal the Davis-Bacon Act. More than $1 billion annually.

IRS Direct Deposit: Require the IRS to deposit fees for services it offers (such as processing payment plans for taxpayers) to the Treasury, instead of allowing payments to remain as part of its budget. $1.8 billion savings over ten years.

Require collection of unpaid taxes by federal employees. $1 billion total savings. WHAT THE HELL…!

Prohibit taxpayer funded union activities by federal employees. $1.2 billion savings over ten years.

Sell excess federal properties the government does not make use of. $15 billion total savings.

Eliminate Mohair Subsidies. $1 million annual savings.

Eliminate taxpayer subsidies to the United Nations Intergovernmental Panel on Climate Change.$12.5 million annual savings.

Eliminate Market Access Program. $200 million annual savings.

USDA Sugar Program. $14 million annual savings.

Subsidy to Organisation for Economic Co-operation and Development (OECD).$93 million annual savings.

Eliminate the National Organic Certification Cost-Share Program. $56.2 million annual savings.

Eliminate fund for Obamacare administrative costs. $900 million savings.

Ready to Learn TV Program. $27 million savings.

Eliminate death gratuity for Members of Congress.

HUD Ph.D. Program.

Deficit Reduction Check-Off Act

TOTAL SAVINGS: $2.5 Trillion over Ten Years

Is there anything listed you cannot do without…?


33 posted on 08/08/2011 8:33:10 AM PDT by hattend (As always...FUJM)
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To: markomalley

The Tea Party obviously used some of its terrorist billions to buy Moodys and S&P.

That will be next bs mantra out of the mouths of the formerly elite left wingers in DC and of course their maggot infected Mediots of the MSM.


34 posted on 08/08/2011 8:37:54 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
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To: hattend

I have to admit, I can see why people want to hold on to some of those programs. Their great if you can afford them. I think a trip to Hawaii would do my family some good but we can’t afford to go so we do what we can afford.


35 posted on 08/08/2011 10:24:27 AM PDT by demshateGod (The fool hath said in his heart, There is no God.)
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To: All

36 posted on 08/08/2011 10:43:39 AM PDT by newzjunkey (the circular firing squad has got to end now)
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To: markomalley

Moodys in the past few years has been run by left wing criminals.

A few years ago when its auditors tried warn us about the crappy fanny/fredie bonds, Moody’s fired them and promoted criminal liberals.

Moody’s show be sued by everyone who lost money on the crap bonds issued by fanny/fredie.

http://www.mcclatchydc.com/2009/10/18/77244/how-moodys-sold-its-ratings-and.html


37 posted on 08/08/2011 10:44:43 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
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To: markomalley
The sad truth is if the US was a public company, it would have a junk bond rating.

Just because the US can print money at will does not make it fiscally sound. The rating agencies have waited as long as they could watching the frenzied orgy of spending when the Dem's had all three branches of power. Now the damage is done, the trillions of new debt is on the books, and there is no way the US can ever pay it back.

It is only a matter of time until S&P downgrades again, and I am sure Moody's will downgrade before that.

We are in for a recession that will see tent cities and soup lines springing up all over the country.

Such is the change promised by Barry Barack Hussein Soetoro Obama

38 posted on 08/08/2011 12:30:12 PM PDT by Gabrial (The Whitehouse Nightmare will continue as long as the Nightmare is in the Whitehouse)
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To: markomalley
Moody's says U.S. needs to find more deficit cuts

Wow! NOTHING gets past the folks at Moody's...

39 posted on 08/08/2011 12:35:52 PM PDT by WayneS (Enlightened statesmen will not always be at the helm. -- James Madison)
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To: hattend
Well, I've always kind of wanted to own a mohair suit; and without the subsidy prices may skyrocket so much that buying one will remain but a dream -- on the other hand, the folks at PETA do have a point regarding the cruel practices used in the raising and shaving of all those little moes, so I guess I can do without...
40 posted on 08/08/2011 12:46:26 PM PDT by WayneS (Enlightened statesmen will not always be at the helm. -- James Madison)
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