Topic: Moody's set to downgrade US. . .

[Buffalo Bop]

The U.S. government's debt rating could be heading for the "fiscal cliff" along with the federal budget.

Moody's Investors Service on Tuesday said it would likely cut its "Aaa" rating on U.S. government debt, probably by one notch, if budget negotiations fail.

If Congress and the White House don't reach a budget deal, about $1.2 trillion in spending cuts and tax increases will automatically kick in starting Jan. 2, a scenario that's been dubbed the "fiscal cliff," because it is likely to send the economy back into recession and drive up unemployment.

Don't expect any budget negotiations to really start until after the election. Time is running out on avoiding another "fiscal cliff." Not a good outlook when considering the "debt-ceiling" crisis last summer led to a downgrade that caused a plunge in the stock market.


http://money.msn.com/business-news/article.aspx?feed=AP&date=20120911&id=15543528

[spaldy]

Hey, the only thing that can beat that is a victory mosque a block away from the twin towers having a celebration on 9/11  and today's apology by our president to the "religion of peace" vermin that burned our flag in our embassy.  

Here's some good places to start:

Notice S.S.. and the military are NOT on this list.

These are all the programs that the new Republican House has proposed cutting. Read to the end.
* 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 duplicating 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
* 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.
* Freedom CAR 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 some services it offers (such as processing payment plans for taxpayers) to the Treasury, instead of allowing it 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 IS THIS ABOUT?
* 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 death gratuity for Members of Congress.WHAT???
* Eliminate Mohair Subsidies -- $1 million annual savings.
* Eliminate taxpayer subsidies to the United Nations Intergovernmental Panel on Climate Change -- $12.5 million annual savings WELL ISN'T THAT SPECIAL
* Eliminate Market Access Program -- $200 million annual savings.
* USDA Sugar Program -- $14 million annual savings.
* Subsidy to Organization 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..WHY?????
* HUD Ph.D. Program.
* Deficit Reduction Check-Off Act.
* TOTAL SAVINGS: $2.5 Trillion over Ten Years

My question is what is all this doing in the budget in the first place?

[Buffalo Bop]

What the president said in the foreign policy debate was not true on sequester. This is what he said in the debate: “First of all, the sequester is not something that I've proposed. It is something that Congress has proposed,” Obama said, adding his strongest pronouncement to date on its future: “It will not happen.”

Read more: http://www.politico.com/news/stories/1012/82772.html#ixzz2AKIPQKcU

Now check this:

Bob Woodward says President Barack Obama got some of his facts wrong on sequester at Monday night’s debate.
 
Woodward’s book “The Price of Politics” has been the go-to fact check source for the president’s answer, in which he claimed the idea of using deep, automatic, across-the-board domestic and defense spending cuts to force Congress to address the nation’s burgeoning federal deficit originated from Congress, not from the White House.
 
“What the president said is not correct,” Woodward told POLITICO Tuesday. “He’s mistaken. And it’s refuted by the people who work for him.”

Woodward reports in his book that White House Office of Management Director Jack Lew and Legislative Affairs Director Rob Nabors took the proposal for sequestration to Senate Majority Leader Harry Reid, and then it was presented to congressional Republicans.
 
During the debate, however, Obama said the idea originated on Capitol Hill.


Read more: http://www.politico.com/news/stories/1012/82772.html#ixzz2AKJGbdU0

To sum it up: Obama lied when he said sequester originated in Congress, when it actually came from the White house and was then sent to Harry Reid.

The next morning, in an off-the-record interview with the editors of the Des Moines Register, President Obama reversed course, taking credit for a sequester that he anticipates will be "in place.":
 
OBAMA: "So when you combine the Bush tax cuts expiring, the sequester in place, the commitment of both myself and my opponent -- at least Governor Romney claims that he wants to reduce the deficit -- but we’re going to be in a position where I believe in the first six months we are going to solve that big piece of business." [emphasis added]

After loud complaints from new and mainstream media alike, the transcript of the President's interview with the Des Moines Register was made public today. Since these comments on the sequester represented a complete reversal of the position he took at the debate less than 24 hours earlier, it's easy to understand why the President's campaign initially wanted to keep them off the record.

Folks, we can't trust Obama on this important issue!


http://www.breitbart.com/Big-Government/2012/10/24/Obama-Flip-Flops-on-Debate-Statement-About-Sequester


 

[Herd 90]

Looks like of Tea Party, right-wing BS.  Who was the last President to balance the budget?  The top earners need to pay their fair share.  You can't balance any budget without brining in income.  Get rid of the ignorant Bush tax cuts and cut spending.  You can't just cut.  When was the last time the wealthiest Americans paid such a low percentage of their income to taxes????  Hmmm....right before the great depression?

The GOP is going to have to take a long, hard look in the mirror if they ever want to win another election.  They've never been as far right in my lifetime as they are now and if they stay that way, they'll never win another Presidential election.  Ronald Reagan would be labeled as a liberal by Mitch McConnell and his bunch of out-of-touch clowns if he were around today.  Reagan actually raised taxes in his second term....OMG!

[Buffalo Bop]

You're wrong on so many levels, I don't know where to start: six trillion more debt by Obama, a bigger government that we can't afford and a left-wing president who blames Congress for everything. We're becoming a socialist nation--much like Europe--and you see what's happening there.

I'll continue to pray for our country and for liberals like yourself. . .God help our country.

[2xBison]

the top earners do pay the lion's share of this countries tax revenue.  how about the 47% contribute something or how about we require folks to produce or to have produced in their life to be able to vote.  

this pretty much sums it up.  have at it libs we are well on our way as the following quote describes.

A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy

[luvherd]

All I know is it is time for all of them to do something to get our financial house in order.

[spaldy]

www.usdedbtclock.org


doesn't even include unfunded pension liabilities from state and local governments.

[2xBison]

All I know is it is time for all of them to do something to get our financial house in order.

your best bet is to move to canada.  that ship has failed with this left wing fool in charge. 

it's kind of getting like herd football, you got to laugh when they lose...same thing with the country.  let all these flunkies have what they want and let them wallow in that squaller when the day comes.

[luvherd]

Actually we have a divided power with repubs having the house. Time to cut out waste, have an efficient defense, retool SS and Medicare for the young and yes raise taxes.

[svherd]

You will never build up the lower class by tearing down the upper class. Its too easy to get and stay on the government teet.

[Herd 90]

You're wrong on so many levels, I don't know where to start: six trillion more debt by Obama, a bigger government that we can't afford and a left-wing president who blames Congress for everything. We're becoming a socialist nation--much like Europe--and you see what's happening there.

I'll continue to pray for our country and for liberals like yourself. . .God help our country.

Sir, you are the one that is wrong.  And you sound like the fringe, crazies that freaked out when Clinton and W. Bush won.  People like you claimed the the country would crash, the world would end and we'd be communists.  I'll continue to pray that you can overcome your wild-eyed silliness.

[Herd 90]

the top earners do pay the lion's share of this countries tax revenue.  how about the 47% contribute something or how about we require folks to produce or to have produced in their life to be able to vote.  

this pretty much sums it up.  have at it libs we are well on our way as the following quote describes.

A democracy is always temporary in nature; it simply cannot exist as a permanent form of government. A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury. From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy

Many of the top earners pay less of a percentage of their income than my wife and I do (including Mr. Romney). 

I'm sorry, but the right wing is so far off they will never win another presidential election until they come back from the crazy assed, fringe right.

[Herd 90]

Hey, the only thing that can beat that is a victory mosque a block away from the twin towers having a celebration on 9/11  and today's apology by our president to the "religion of peace" vermin that burned our flag in our embassy.  

Here's some good places to start:

Notice S.S.. and the military are NOT on this list.

These are all the programs that the new Republican House has proposed cutting. Read to the end.
* 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 duplicating 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
* 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.
* Freedom CAR 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 some services it offers (such as processing payment plans for taxpayers) to the Treasury, instead of allowing it 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 IS THIS ABOUT?
* 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 death gratuity for Members of Congress.WHAT???
* Eliminate Mohair Subsidies -- $1 million annual savings.
* Eliminate taxpayer subsidies to the United Nations Intergovernmental Panel on Climate Change -- $12.5 million annual savings WELL ISN'T THAT SPECIAL
* Eliminate Market Access Program -- $200 million annual savings.
* USDA Sugar Program -- $14 million annual savings.
* Subsidy to Organization 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..WHY?????
* HUD Ph.D. Program.
* Deficit Reduction Check-Off Act.
* TOTAL SAVINGS: $2.5 Trillion over Ten Years

My question is what is all this doing in the budget in the first place?

Spaldy, you need to try to start a revolution and put together a new confederacy that could run with absolutely no government.  You could take Texas, Arizona, Mississippi, Alabama, Kentucky, West Virginia, Louisiana and several other deeply red states.  You could have some big corporations run your new country.  You could add a couple more opinions disguised as news stations like Fox! 

I'm so sure it would so much better than The United States of America.   ::) ::) ::) ::) ::)

Obama 2012....Yes!!!!!   ;D ;D ;D ;D

Poor Rove, Koch Brothers and 'ol Sheldon.  I wonder how much they spent together to attempt to create a plutocracy?  Can't get that money back...LOL.

[2xBison]

I am guessing you are young and prob don't make squat or have much.  It's rare to see someone later in life producing much and still that stupid other than the elite rich limousine liberals

[spaldy]

I wouldn't gloat too much about the big win.

The economic realities trump the North Korean press/Pravda/ Tass releases.

The revolution won't be started by people like me.  It will be started when the handouts stop.  Look at Greece, Spain, Portugal, France and Italy if you want to see our future.   

I'll repost the link that all the propaganda in the world won't change.   You might want to refute it rather than just producing your talking points produced by pravda.  I can assure you that China and Russia are aware of it. 

wwwusdebtclock.org

Of course,  we can always just print more money.   Try googling the Weimar replublic is you'd like to see how well that works.

[Herd 90]

I am guessing you are young and prob don't make squat or have much.  It's rare to see someone later in life producing much and still that stupid other than the elite rich limousine liberals

There are people from Herdfans that know me and you're way off son.  I'm guessing you're.....nah, I won't go there. 

I can't talk any sense into you Fox News brainwashed sheep. 

As it's been said, "you can't fix stupid."

But on a positive note, thanks to your ilk, there will never be a fringe right President elected in this wonderful country. You're driving people away from the GOP with your bigoted, evangelicals and the ultra greedy 1 percenters that are using you to try (Major Fail) to create a Mecca for themselves while crushing the poor and middle class.

You people are a dying breed.....thank God.

[spaldy]

Nicely ducked.   Way to attack the poster rather than address the underlying economic/debt issue. 

I'm sure you are also aware that even if you tax the "rich" 100% it would run our country 42 days at the current spending rate.   Never let facts get in the way of propoganda and
hype.   It's working real well in France who's only taxing at 75% rate on millionaires.



You'd make a good politician.   

[herdfan429]

There are people from Herdfans that know me and you're way off son.  I'm guessing you're.....nah, I won't go there. 

I can't talk any sense into you Fox News brainwashed sheep. 

As it's been said, "you can't fix stupid."

But on a positive note, thanks to your ilk, there will never be a fringe right President elected in this wonderful country. You're driving people away from the GOP with your bigoted, evangelicals and the ultra greedy 1 percenters that are using you to try (Major Fail) to create a Mecca for themselves while crushing the poor and middle class.

You people are a dying breed.....thank God.

You do know that Obama won 8 of the 10 richest counties in the country   You do know pew came out with a study showing manic was way more biased than foxnews.

[phillyherdfan]

To lighten the mood here a bit and a follow-on to Herdfan's geo-socio comment... did everyone see this?

[ZackUSAF82]

Damn, I'm dragging MD down....  :D

[spaldy]

Since we bringing up lists heres another one.


http://www.huffingtonpost.com/2012/08/28/state-debt-report_n_1836603.html#slide=1441203


Obviously highly educated people have no problem dumping debt on the the next generation or two.  Obviously,  just like the ruling elite exempt themselves from laws, social security and obamacare the educational elite exempt themselves from any kind of concern for the next generation's standard of living. 

[Buffalo Bop]

It also shows that being well educated and having common sense are not one in the same.