so democrats downgraded America after only 4-1/2 years of governing huh?

Question

http://finance.yahoo.com/news/SampP-down…

"Moody's Investor Service and Fitch, had warned during the budget fight that if Congress did not cut SPENDING far enough, the country faced a downgrade."

who always fights spending cuts?

Answer 1

Democrats do.



Of course when you spend 80% more than you take in as a policy, we should up the taxes.

Yea that would be smart... That will fix everything...

Answer 2

Who would have ever believed it possible that the Dem's would have been so efficient (at destroying our economy so quickly) by being so inefficient. They went 855 days without a single plan to address the debt crisis, talk about being incompetent. Not to mention Moody's and the S & P told them what it would take to prevent the downgrade in April and they still sat on their fanny's doing nothing to address it. until the deadline. It is clear this is what they wanted to accomplish and then continue to use their twisted fingers blaming everyone but themselves.

Answer 3

This is what happens when the republicans give the wealthy and corporations a free ride . If you have no tax revenue it's quite clear no government can't pay it's debt obligations . You must also remember it also G Bush that went to war in Iraq and Afghanistan deregulate the banking system this what caused the financial crisis in 2008 . Obama had his plate full when he took office

Answer 4

Yeah, the libs own this one. If the race card does not fit,then they use the blame card. The Tea Party seems like their blame card of choice lately. You know the tea Party, that group Nasty Nancy called astro turf and Nazis. Part of the Republican group that Obama said could come along for the ride but had to sit in the back of the bus.



.

Answer 5

Here's S&P from Bloomberg Business News:

{Raising Taxes

S&P, though, noted in its report that the failure to act on raising revenue also was a consideration in its decision.

“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, or on reaching an agreement on raising revenues, is less likely than we previously assumed,” the company said.

S&P also changed its assumption that the 2001 and 2003 tax cuts enacted under President George W. Bush would expire by the end of 2012, “because the majority of Republicans in Congress continue to resist any measure that would raise revenues.”}

Source - "S&P Action Clouds Obama 2012 Election Bid, Damages Congress"



I don't understand why people think our rating has been correctly AAA since the Reagan years. We shouldn't have trusted S&P's rating in the first place (the way we shouldn't have trusted their CDO ratings) because the U.S. was at the heart of their conflict of interest.



When Republicans started to believe their voodoo economics is when we should've first lost our AAA credit rating.

Answer 6

Only 2-1/2 years of 0bama.

Answer 7

DIRECT QUOTE: "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, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process,"



It's almost as if your type only ever reads half a statement and fills the rest in with your own gobbely goop.

Answer 8

The down grade happened because S&P did not like the fact that "job creation" and revenue were not included in the negotiations.

Answer 9

It is not a coincidence that America's first downgrade also happened to have a Republican/Tea Party faction in charge of the House.

Answer 10

More over the US has single handed butchered the worlds economies due to it's ugly greed and loathsome economic behaviour.

Answer 11

Liberals won. America lost. But only the battle, not the war.

Answer 12

You are right, Tea Party is our solution, we should've defaulted like they wanted and cut our spending in the middle of a recession.

Answer 13

That's what happens when you vote in extremists who refuse real compromise. Many of them are so adamant about heavy spending and anti-business policy that they would rather see the country ruined than have an honest talk with conservatives.

Answer 14

No it was downgraded because people saw that the teabaggers would be happy to destroy America if the could get their way politically.

Answer 15

You may not have HEARD, but the House of Representatives has been GOP lead for the last 8 months...

Answer 16

Do we have to recite Reagan back at you again?



The only POTUS to refuse raising the debt ceiling was Harry S Truman, a Democrat.



In fact, Harry S Truman not only refused to raise the debt ceiling, he lowered it.

Answer 17

Perhaps you should actually read S&P's press release where they explain why they downgraded the US.

Answer 18

Who fights raising taxes on the wealthy?



http://i263.photobucket.com/albums/ii160/emal2me/political%202/taxcuts.jpg

Answer 19

voters have been apathetic.