Conquer Club

S&P downgrades U.S. credit rating for first time

Reason: USA did not cut enough from it's "bloated" budget.

Standard & Poor’s announced Friday night that it has downgraded the sterling U.S. credit rating for the first time.

The move came even though the Treasury Department said that it had found a math error in the firm’s calculations of deficit projections, according to a person familiar with the matter.

S&P decided to lower the AAA rating, held by the United States for 70 years, to AA+ after a bipartisan debt deal signed into law this week failed to assuage concerns about the nation’s growing spending.

Analysts have said a downgrade could increase the cost of borrowing for the U.S. government and lead to tens of billions of dollars in more interest costs per year. That could translate into higher borrowing for consumers and businesses, too.

A downgrade would also have a cascading series of effects on states and localities that rely on federal funding, including in the Washington metro area, potentially raising the cost of borrowing for schools and parks.

http://www.washingtonpost.com/business/ ... print.html



Save the whole House or it will ALL burn down

... "Hope" ... "Change" ...

... Well, we got the change, and killed the hope.

... 4 MORE YEARS!!

that means for college students such as my friends and I, school just became more expensive, as interest rates will go up.

Mr_Adams wrote:that means for college students such as my friends and I, school just became more expensive, as interest rates will go up.

mortgages too

How can this happen? It's not even like there is a world war. What did we borrow all the money for? Where did it all go? How is any of that helping anyone? It's hurting us all.

Mr_Adams wrote:that means for college students such as my friends and I, school just became more expensive, as interest rates will go up.

Isn't the government's irresponsible spending a bummer? It has consequences, and this is the beginning.

Phatscotty wrote:

Mr_Adams wrote:that means for college students such as my friends and I, school just became more expensive, as interest rates will go up.

mortgages too

How can this happen? It's not even like there is a world war. What did we borrow all the money for? Where did it all go? How is any of that helping anyone? It's hurting us all.

My thoughts as well. The gross amounts of overspending in the last 20+ years have screwed us all.

... Meanwhile, those who are screaming for responsible spending and debt limits are being called extremists and terrorists.

... How the F*ck did we get here?

..

maasman wrote:

Phatscotty wrote:

Mr_Adams wrote:that means for college students such as my friends and I, school just became more expensive, as interest rates will go up.

mortgages too

How can this happen? It's not even like there is a world war. What did we borrow all the money for? Where did it all go? How is any of that helping anyone? It's hurting us all.

My thoughts as well. The gross amounts of overspending in the last 20+ years have screwed us all.

And to have been sitting and listening and watching the media yell and scream and even make terrorist accusations against the people in Congress who also thought the cuts weren't big enough, and even voted no against raising the debt ceiling. Disgusting!

The republicans barely cut the military budget, and they refused to remove tax breaks on the ultrarich. That's got to figure in the picture.

General_Tao wrote:The republicans barely cut the military budget, and they refused to remove tax breaks on the ultrarich. That's got to figure in the picture.

at least the ideas of austerity are being propagated. it's a start.

Fact is, the military has duplicities that can be cut, just like any other branch of the government. This is on the head of anybody whomever voted for the deal. And if you don't buy your votes, you can count on being out of office in the next election cycle.

Edit: The list

Adams Sandra Adams
FL
R Aderholt Robert Aderholt
AL
R Alexander Rodney Alexander
LA
D Altmire Jason Altmire
PA
D Andrews Robert Andrews
NJ
R Austria Stephen Austria
OH
R Bachus Spencer Bachus
AL
R Barletta Lou Barletta
PA
D Barrow John Barrow
GA
R Bartlett Roscoe Bartlett
MD
R Barton Joe Barton
TX
R Bass Charles Bass
NH
D Bass Karen Bass
CA
R Benishek Dan Benishek
MI
R Berg Rick Berg
ND
D Berkley Rochelle Berkley
NV
D Berman Howard Berman
CA
R Biggert Judith Biggert
IL
R Bilbray Brian Bilbray
CA
R Bilirakis Gus Bilirakis
FL
D Bishop Sanford Bishop
GA
D Bishop Timothy Bishop
NY
R Black Diane Black
TN
R Blackburn Marsha Blackburn
TN
R Boehner John Boehner
OH
R Bonner Josiah Bonner
AL
D Boren David Boren
OK
R Boustany Charles Boustany
LA
R Brady Kevin Brady
TX
D Brady Robert Brady
PA
R Buchanan Vernon Buchanan
FL
R Bucshon Larry Bucshon
IN
R Burgess Michael Burgess
TX
R Calvert Kenneth Calvert
CA
R Camp David Camp
MI
R Campbell John Campbell
CA
R Canseco Quico Canseco
TX
R Cantor Eric Cantor
VA
R Capito Shelley Capito
WV
D Capps Lois Capps
CA
D Carnahan John Carnahan
MO
D Carney John Carney
DE
R Carter John Carter
TX
R Cassidy William Cassidy
LA
D Castor Kathy Castor
FL
R Chabot Steven Chabot
OH
D Chandler Albert Chandler
KY
D Cicilline David Cicilline
RI
D Clay William Clay
MO
D Clyburn James Clyburn
SC
R Coble John Coble
NC
R Coffman Michael Coffman
CO
R Cole Thomas Cole
OK
R Conaway K. Conaway
TX
D Connolly Gerald Connolly
VA
D Cooper James Cooper
TN
D Costa James Costa
CA
D Costello Jerry Costello
IL
D Courtney Joseph Courtney
CT
R Crawford Rick Crawford
AR
R Crenshaw Ander Crenshaw
FL
D Critz Mark Critz
PA
D Cuellar Henry Cuellar
TX
R Culberson John Culberson
TX
D Davis Daniel Davis
IL
D Davis Susan Davis
CA
R Denham Jeff Denham
CA
R Dent Charles Dent
PA
D Deutch Theodore Deutch
FL
R Diaz-Balart Mario Diaz-Balart
FL
D Dicks Norman Dicks
WA
D Dingell John Dingell
MI
D Doggett Lloyd Doggett
TX
R Dold Robert Dold
IL
D Donnelly Joseph Donnelly
IN
R Dreier David Dreier
CA
R Duffy Sean Duffy
WI
R Duncan John Duncan
TN
R Ellmers Renee Ellmers
NC
R Emerson Jo Emerson
MO
D Eshoo Anna Eshoo
CA
R Farenthold Blake Farenthold
TX
D Fattah Chaka Fattah
PA
R Fincher Stephen Fincher
TN
R Fitzpatrick Michael Fitzpatrick
PA
R Flores Bill Flores
TX
R Fortenberry Jeffrey Fortenberry
NE
R Foxx Virginia Foxx
NC
R Frelinghuysen Rodney Frelinghuysen
NJ
R Gallegly Elton Gallegly
CA
D Garamendi John Garamendi
CA
R Gardner Cory Gardner
CO
R Gerlach James Gerlach
PA
R Gibbs Bob Gibbs
OH
R Gibson Christopher Gibson
NY
D Giffords Gabrielle Giffords
AZ
R Goodlatte Robert Goodlatte
VA
R Gosar Paul Gosar
AZ
R Granger Kay Granger
TX
R Graves Samuel Graves
MO
D Green Raymond Green
TX
R Griffin Tim Griffin
AR
R Grimm Mike Grimm
NY
R Guinta Frank Guinta
NH
R Guthrie Steven Guthrie
KY
D Gutiérrez Luis Gutiérrez
IL
D Hanabusa Colleen Hanabusa
HI
R Hanna Richard Hanna
NY
R Harper Gregg Harper
MS
R Hastings Doc Hastings
WA
R Hayworth Nan Hayworth
NY
R Heck Joe Heck
NV
D Heinrich Martin Heinrich
NM
R Hensarling Jeb Hensarling
TX
R Herger Walter Herger
CA
R Herrera Jaime Herrera
WA
D Higgins Brian Higgins
NY
D Himes James Himes
CT
D Hinojosa Rubén Hinojosa
TX
D Hirono Mazie Hirono
HI
D Hochul Kathleen Hochul
NY
D Holden Thomas Holden
PA
D Hoyer Steny Hoyer
MD
R Huizenga Bill Huizenga
MI
R Hurt Robert Hurt
VA
D Inslee Jay Inslee
WA
D Israel Steve Israel
NY
R Issa Darrell Issa
CA
D Jackson-Lee Sheila Jackson-Lee
TX
R Jenkins Lynn Jenkins
KS
R Johnson Bill Johnson
OH
D Johnson Eddie Johnson
TX
D Johnson Henry Johnson
GA
R Johnson Sam Johnson
TX
D Keating Bill Keating
MA
R Kelly Mike Kelly
PA
D Kildee Dale Kildee
MI
D Kind Ron Kind
WI
R King Peter King
NY
R Kinzinger Adam Kinzinger
IL
R Kline John Kline
MN
R Lance Leonard Lance
NJ
D Langevin James Langevin
RI
R Lankford James Lankford
OK
D Larsen Richard Larsen
WA
R LaTourette Steven LaTourette
OH
R Latta Robert Latta
OH
D Levin Sander Levin
MI
R Lewis Charles Lewis
CA
D Lipinski Daniel Lipinski
IL
R LoBiondo Frank LoBiondo
NJ
R Long Billy Long
MO
D Lowey Nita Lowey
NY
R Lucas Frank Lucas
OK
R Luetkemeyer Blaine Luetkemeyer
MO
R Lummis Cynthia Lummis
WY
R Lungren Daniel Lungren
CA
D Lynch Stephen Lynch
MA
R Mack Mary Mack
CA
R Manzullo Donald Manzullo
IL
R Marchant Kenny Marchant
TX
R Marino Thomas Marino
PA
D Matheson James Matheson
UT
D McCarthy Carolyn McCarthy
NY
R McCarthy Kevin McCarthy
CA
R McCaul Michael McCaul
TX
R McCotter Thaddeus McCotter
MI
R McHenry Patrick McHenry
NC
R McKeon Howard McKeon
CA
R McKinley David McKinley
WV
R McMorris Rodgers Cathy McMorris Rodgers
WA
R Meehan Patrick Meehan
PA
D Meeks Gregory Meeks
NY
R Mica John Mica
FL
D Michaud Michael Michaud
ME
R Miller Candice Miller
MI
R Miller Gary Miller
CA
R Miller Jefferson Miller
FL
R Murphy Timothy Murphy
PA
R Myrick Sue Myrick
NC
R Noem Kristi Noem
SD
R Nugent Richard Nugent
FL
R Nunnelee Alan Nunnelee
MS
R Olson Pete Olson
TX
D Owens William Owens
NY
R Palazzo Steven Palazzo
MS
D Pascrell William Pascrell
NJ
R Paulsen Erik Paulsen
MN
D Pelosi Nancy Pelosi
CA
R Pence Mike Pence
IN
D Perlmutter Ed Perlmutter
CO
D Peterson Collin Peterson
MN
R Petri Thomas Petri
WI
R Pitts Joseph Pitts
PA
R Platts Todd Platts
PA
D Polis Jared Polis
CO
R Pompeo Mike Pompeo
KS
R Price Tom Price
GA
D Quigley Mike Quigley
IL
D Rahall Nick Rahall
WV
R Reed Thomas Reed
NY
R Reichert David Reichert
WA
R Renacci Jim Renacci
OH
R Ribble Reid Ribble
WI
D Richmond Cedric Richmond
LA
R Rigell Scott Rigell
VA
R Rivera David Rivera
FL
R Roe David Roe
TN
R Rogers Harold Rogers
KY
R Rogers Mike Rogers
AL
R Rogers Mike Rogers
MI
R Rohrabacher Dana Rohrabacher
CA
R Rooney Thomas Rooney
FL
R Ros-Lehtinen Ileana Ros-Lehtinen
FL
R Roskam Peter Roskam
IL
D Ross Michael Ross
AR
D Rothman Steven Rothman
NJ
R Royce Edward Royce
CA
R Runyan Jon Runyan
NJ
D Ruppersberger C. Ruppersberger
MD
D Rush Bobby Rush
IL
R Ryan Paul Ryan
WI
D Sanchez Loretta Sanchez
CA
D Schiff Adam Schiff
CA
R Schilling Bobby Schilling
IL
R Schmidt Jean Schmidt
OH
R Schock Aaron Schock
IL
D Schrader Kurt Schrader
OR
D Schwartz Allyson Schwartz
PA
D Scott David Scott
GA
R Sensenbrenner Frank Sensenbrenner
WI
R Sessions Pete Sessions
TX
D Sewell Terri Sewell
AL
D Sherman Brad Sherman
CA
R Shimkus John Shimkus
IL
D Shuler Heath Shuler
NC
R Shuster William Shuster
PA
R Simpson Michael Simpson
ID
D Sires Albio Sires
NJ
R Smith Adrian Smith
NE
R Smith Christopher Smith
NJ
R Smith Lamar Smith
TX
D Speier Karen Speier
CA
R Stivers Steve Stivers
OH
R Sullivan John Sullivan
OK
R Terry Lee Terry
NE
R Thompson Glenn Thompson
PA
D Thompson Michael Thompson
CA
R Thornberry William Thornberry
TX
R Tiberi Patrick Tiberi
OH
D Tsongas Nicola Tsongas
MA
R Upton Frederick Upton
MI
D Van Hollen Christopher Van Hollen
MD
R Walberg Timothy Walberg
MI
R Walden Greg Walden
OR
D Walz Timothy Walz
MN
D Wasserman Schultz Debbie Wasserman Schultz
FL
R Webster Daniel Webster
FL
R West Allen West
FL
R Whitfield Wayne Whitfield
KY
D Wilson Frederica Wilson
FL
R Wittman Robert Wittman
VA
R Wolf Frank Wolf
VA
R Womack Steve Womack
AR
R Woodall Rob Woodall
GA
D Wu David Wu
OR
R Young Charles Young
FL
R Young Donald Young
AK
R Young Todd Young
IN

95 Democraps and 174 republicans

General_Tao wrote:The republicans barely cut the military budget, and they refused to remove tax breaks on the ultrarich. That's got to figure in the picture.

and that doesnt say anything about the other 2/3's of gov't (senate n president).

The cuts proposed were nowhere near large enough to even start talking about more taxes. We needed the Ryan plan, or the Cap, Cut, and Balance plan. Then we can talk about taxes.

If they want more taxes, they first have to show us they are serious about cutting and that they are not just gonna blow it all like they always do....see?

the Ryan plan barely touches the military.

General_Tao wrote:the Ryan plan barely touches the military.

well you can focus on specifics, and that may be true, but I am focusing on the size of the Ryan plan. That is the sized plan we needed.

Aaaaaaaaaaaaaaaaaand I'm moving to Greenland

it's a trap dude, don't be fooled by the name, there's no plants there, it's cold as f*ck

john9blue wrote:it's a trap dude, don't be fooled by the name, there's no plants there, it's cold as f*ck

During the last Age of Tropics (opposite of the Ice Age, it doesn't get that much attention), it was very green.

Mr_Adams wrote:

john9blue wrote:it's a trap dude, don't be fooled by the name, there's no plants there, it's cold as f*ck

During the last Age of Tropics (opposite of the Ice Age, it doesn't get that much attention), it was very green.

yeah but was the usa downgraded during this "age of tropics"?

...exactly.

john9blue wrote:

Mr_Adams wrote:

john9blue wrote:it's a trap dude, don't be fooled by the name, there's no plants there, it's cold as f*ck

During the last Age of Tropics (opposite of the Ice Age, it doesn't get that much attention), it was very green.

yeah but was the usa downgraded during this "age of tropics"?

...exactly.

touché

Phatscotty wrote:If they want more taxes, they first have to show us they are serious about cutting and that they are not just gonna blow it all like they always do....see?

Once we have cut down all the way to only spending the amount of money we take in, we can pass a 1 or 2 percent increase in taxes to EVERY person to start paying down the deficit. And that money can ONLY go to paying down the deficit, not to add new programs.

With any luck we'll be seeing an end to global capitalism

Tangentially Related:
September 17 ~ Occupy Wallstreet

https://occupywallst.org/

I hope this is the start, of all parties, in all developed countries, tackling tax avoidance by the super rich and huge corporations.

Unless these big boys start paying the right amount of taxes - there's always going to be a massive shortfall.

It would make far more sense for the American war machine to declare war on Switzerland, Monaco, The cayman Isalands and all the other tax free places in the world where rich people can hide their cash.

I'm not against people being filthy rich, I just want them to pay their fair share.

There is no such thing as trickle down economics, well unless you count the shit that they are raining down on us.

We're all going to die?

LaZCaTo wrote:With any luck we'll be seeing an end to global capitalism

Tangentially Related:
September 17 ~ Occupy Wallstreet

https://occupywallst.org/

Sure, a lot of starving people around the world will consider themselves very lucky. I suppose that just necessary tho right?