Ace of Spades HQ

August 05, 2011

Government Official: We're Expecting An S&P Downgrade
— Ace

In the sidebar, you'll notice an article about a rumor of a downgrade, scheduled for after today's close. However, that was just a rumor, and the original sourcing was weak (it was thought someone from Barclays knew something, but he then said he didn't).

But now Jake Tapper has a government official saying they do in fact expect a downgrade, down from AAA to either AA+ or AA.

The claim is made that it's... Republicans' fault, for not agreeing to tax hikes.

A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

BTW, where are Obama's transcripts?

Posted by: Ace at 12:57 PM | Comments (257)
Post contains 127 words, total size 1 kb.

1 S&P will cite GOP refusal to raise taxes as the reason for downgrade? WTF...

Posted by: Jose at August 05, 2011 12:59 PM (WTNJJ)

2 FIRST SUCK IT ACE!!!!!!!!!!!!!!

Posted by: ace is a loser at August 05, 2011 12:59 PM (Rkf0j)

3 They are trying to force future tax increases.

Posted by: 80sBaby at August 05, 2011 01:00 PM (o2lIv)

Right, because the real reason couldn't possibly be that the Debt Deal will not result in a single mother-fucking dollar of federal spending being cut, ever, and that we'll continue to grow the budget at 7% a year, forever, even though the tax base, population, and/or economy NEVER grow at that pace.

Must be those mean Repubs and their "THE RICH SHOULD NEVER HAVE TO PAY TAXES, EVER" fanaticism.

Posted by: Sharkman at August 05, 2011 01:00 PM (wMsKw)

5 Or not agreeing with another stimulus.
Or because of the "cut" to spending that hasn't even happened yet.

That's what made any "deal" stupid as hell. Anyone with an eye and two brain cells could see there was a shitstorm on the horizon and that no matter what they did in DC they were going to blame the GOP. Smart move would have been to draw the line at the only plan that would give us a path to prosperity after the crash, that is, a balanced budget amendment.

Instead, they chose to piss off the base and position themselves to take all the blame.

Posted by: Jimmuy at August 05, 2011 01:02 PM (0La/N)

6 Damned if we do, damned if we dont. Why would S&P differentiate between a tax increase or a spending cut.

Posted by: Jean at August 05, 2011 01:02 PM (46qC3)

7 Obama doing the "electric slide" is the modern day version of the fiddling Nero

Posted by: Wooga at August 05, 2011 01:03 PM (2p0e3)

8 In before reminders that the "extremists" said that would happen! What? Darn.

Posted by: Merovign, Dark Lord of the Sith at August 05, 2011 01:03 PM (bxiXv)

Draft Nader to run third party in '12!

Run, you priggish, humorless, dickless, self-absorbed magnificent bastard!

Posted by: Wm T Sherman at August 05, 2011 01:03 PM (w41GQ)

10 This is odd: MoodyÂ’s and Fitch reaffirmed the U.S. as AAA on Tuesday

So why does S&P disagree?

Posted by: 80sBaby at August 05, 2011 01:04 PM (o2lIv)

11 Your welcome America!!

Posted by: Lord Barry of Indonesia at August 05, 2011 01:04 PM (ljuHV)

12 Instead, they chose to piss off the base and position themselves to take all the blame.

They're not called the "Stupid Party" for nothing.

Posted by: Blacque Jacques Shellacque at August 05, 2011 01:04 PM (UF15p)

13 Actually, it's not a downgrade, it's a rating readjustment, and right now, that's the best possible thing that could happen to the U.S. Happy days are here again!

Now please, turn on Jersey Shore and let us get back to the celebration of President King Lord Our god Barack's arrival on this very, very unworthy earth.

Posted by: MSM at August 05, 2011 01:05 PM (z63Tr)

14 Its the damn rethuglicans fault for not insisting on more taxes to create more shovel ready jobs. Every economist knows that the only way to get us out of the recession is to take more money from the hands of evil rich fat cats(who are probably using it to light their cigars) and into the hands of pure unbiased bureaucrats to create more shovel ready jobs.

There you go. Tomorrow's news today.

Posted by: Shtetl G at August 05, 2011 01:05 PM (VGIcl)

15 Oh, and like Rush has been saying all week: There is no compromise with someone who does not have a moral position, there is no compromise with someone who wants to destroy you. And everything about the modern left is without morals and seeks the utter destruction of personal freedom and individual wealth. You cannot compromise with someone who believes your very existence is a problem.

As he said today: We have two choices with them, reeducation camps or victory--and we don't have time for reeducation camps.

Posted by: Jimmuy at August 05, 2011 01:06 PM (0La/N)

Nothing about "because you didn't cut spending" in there, huh. Just "because you didn't raise taxes in the middle of a depression."

To what extent is this what they really believe, and to what extent is this what they feel it is in their best rent-seeking interest to say?

Posted by: Wm T Sherman at August 05, 2011 01:06 PM (w41GQ)

17 but wait, I thought we'd be cutting $10 billion in spending sometime in the next decade? Can't we at least tie base level budgeting to GDP growth?

Posted by: joeindc44 at August 05, 2011 01:07 PM (QxSug)

18 Of course it's the tea party's fault.

We've exposed the lie that the DC party can go on forever and now comes the time when folks figure out how to get off the ride with anything at all intact.

Naturally people who were committed to the lie of status quo will hate us. But it was always going to end.

Posted by: Methos at August 05, 2011 01:08 PM (sOXQX)

19 Because under the threat of a federal audit, they are carrying water for Obama? Yes, downgrade our rating and blame it on the republicans.

Just spitballin'

Posted by: mpurinTexas supports Rick Perry, bitch at August 05, 2011 01:08 PM (ignDe)

20 I told you this would work. - Vlad Putin

Posted by: Hill Country Texan at August 05, 2011 01:08 PM (W9HiJ)

21 But Obama's birthday party was one hundred percent completely off the hook.

So there's that.

Posted by: robviously at August 05, 2011 01:09 PM (UeZGr)

22 Duh, walked right into that one, didn't I?

Posted by: Da Boehnhead at August 05, 2011 01:09 PM (FcR7P)

23 18 ...Can't we at least tie base level budgeting to GDP growth?

Supposedly, the House Budget Committee will soon be looking at baseline budgeting. Any proposed legislation won't go anywhere, but at least they're trying.

Posted by: 80sBaby at August 05, 2011 01:09 PM (o2lIv)

24 What cannot continue, won't.

Posted by: toby928™ at August 05, 2011 01:10 PM (GTbGH)

25 Surely running trillion dollar+ deficits with no signs of cutting actual spending or reforming entitlements that are well known to not be cost feasible have nothing to do with it. It's all about what we bring in taxwise, because somehow if we tax everyone as much as possible, we all will just accept it. More proof that liberalism is a mental disorder.

Posted by: Doc at August 05, 2011 01:10 PM (qR9y8)

26 It's not us, it's you.

Posted by: DC at August 05, 2011 01:11 PM (uKEj1)

27 I still think it's odd that S&P is the only ratings agency doing this this week.

Posted by: 80sBaby at August 05, 2011 01:11 PM (o2lIv)

28 So why does S&P disagree?

We're sober. For now.

Posted by: Standard's & Poor's at August 05, 2011 01:11 PM (GBXon)

29 I am very nearly ready to join the let it burn chorus. I wont pour lighter fluid on the fire and will even keep up my puny efforts to convince folks things have to change because that is my nature. But I feel like collapse is inevitable. And I also feel like I can survive a collapse a lot better than all these prissy "the word owes me a good life" progs can, so if they are determined to burn it all down so be it.

Posted by: palerider at August 05, 2011 01:12 PM (dkExz)

30 Posted by: Hill Country Texan at August 05, 2011 05:08 PM (W9HiJ)

Where abouts in the hill country?

Austin here.

Posted by: mpurinTexas supports Rick Perry, bitch at August 05, 2011 01:12 PM (ignDe)

31 To hell with his transcripts. Where are his golf scores?

Posted by: J.J. Sefton at August 05, 2011 01:12 PM (UlUS4)

32 Yea...and ya'll thought I was off my rocker about these globalists wanting to bury middle America. Well....suck it.

Posted by: Alex Jones....King of The InfoPlanetPrisonWars at August 05, 2011 01:12 PM (j/iKM)

33 So, yeah. While these fuckers are still in power, while there is a solid 20% of the population that thinks that it is the right of government to take away your choice and your money in the name of freedom and compassion, the downgrade and degradation of America is inevitable. When you have a class that thinks all wealth, all freedom, all prosperity derives from the fiats of government, we deserve to be downgraded.

How many said countless times before any deal, before Boehner started negotiating with himself, that no matter what he did, without a plan that forced the federal government to spend within its means, a downgrade was inevitable? All over the right side of the new media the plain truth was shouted and presented for any to see. Except our willfully blind in DC.

The only way to have avoided a downgrade was to cut $4 trillion and to pass a balanced budget amendment. Because it has and never was the debt limit that was the problem: It is the debt!

Posted by: Jimmuy at August 05, 2011 01:13 PM (0La/N)

34 "Smart move would have been to draw the line at the only plan that would give us a path to prosperity after the crash, that is, a balanced budget amendment." The only smart move was to leave the debt ceiling where it was. We're cruising for chaos, and we have a much better chance of keeping the blame where it belongs if it happens right now with that prick in the White House. Every day from now until it happens is another day that what I have is devalued further in favor of the deadbeat parasites I've been carrying for all these years.

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:13 PM (cbyrC)

We can only be saved if the government takes away even our more of our incomes and then gives part of it back to stimulate us.

Posted by: Wm T Sherman at August 05, 2011 01:13 PM (w41GQ)

36 I raised the Debt Ceiling then I raised the Roof!

Posted by: Barack Obama at August 05, 2011 01:14 PM (uKEj1)

37 6 Damned if we do, damned if we dont. Why would S&P differentiate between a tax increase or a spending cut.

They were never going to be completely happy with any deal because DC cannot come together to make a deal that addresses that problem.

Posted by: 80sBaby at August 05, 2011 01:14 PM (o2lIv)

38 29 I still think it's odd that S&P is the only ratings agency doing this this week.

Yes, but once they downgrade, how long until the other ratings agencies follow suit?

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 01:14 PM (9hSKh)

39 Maybe having their Italian offices raided by the government, showed them the wisdom of cooperation.

Posted by: Jean at August 05, 2011 01:15 PM (46qC3)

40 A source says Republicans saying that they refuse to accept any tax increases as part of a larger deal will be part of the reason cited.

It's a penance on Tapper's part for asking some difficult questions earlier this week..

Posted by: Dave C at August 05, 2011 01:16 PM (rus4r)

41 Yes, but once they downgrade, how long until the other ratings agencies follow suit? Posted by: Kratos (Ghost of Sparta) at August 05, 2011 05:14 PM (9hSKh) Just after they've entered all their shorts.

Posted by: t-bird at August 05, 2011 01:16 PM (FcR7P)

42 Yeah. It's not like it could be the fault of the party that deficit spent $5T in the last two-and-a-half years. Didn't pass a budget for it, either. Committed $1T on a Stimulus that did absolutely nothing. That began and defended the two segments of the budget that are absolutely untouchable and ballooning out of control, SS & Medicare.

It's the fact that we're not going to confiscate AN ADDITIONAL 10% OF US GDP to balance the books.

Posted by: nickless at August 05, 2011 01:16 PM (MMC8r)

43 *squirt*

Posted by: Anthony Weiner at August 05, 2011 01:16 PM (w41GQ)

44 Wow. The Republicans are to blame? F'n Obama, man.........he gets more cover than John Travolta and Kelly Preston's hot tub on their wedding anniversary.

Posted by: Larry Dickman at August 05, 2011 01:16 PM (4t9J5)

45 BTW, where are Obama's transcripts?

This will never get old. You could type this in every post between now and Nov. 6th of next year and it still wouldn't be said enough.

Posted by: laceyunderalls at August 05, 2011 01:17 PM (pLTLS)

46 "They were never going to be completely happy with any deal because DC cannot come together to make a deal that addresses that problem." Exactly. Everyone who even hinted that raising the ceiling would avert a downgrade was a liar or a useful idiot. Looking forward, does anyone really believe that a solid GOP majority going into 2013 will even help?

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:17 PM (cbyrC)

47 Congress can fool all of the people some of the time, some of the people all of the time, but not the ratings agencies most of the time

Posted by: WalrusRex at August 05, 2011 01:18 PM (Hx5uv)

48 It's the Republicans fault for not giving me more COCAINE!

Posted by: Charlie Sheen at August 05, 2011 01:18 PM (MMC8r)

49 Looking forward, does anyone really believe that a solid GOP majority going into 2013 will even help?

Posted by: FRONT TOWARD LEFT at August 05, 2011 05:17 PM (cbyrC)

You'll have to pry the entitlements and the cushy, benefits laden government jobs from their rioting hands.

Posted by: Stateless Infidel at August 05, 2011 01:18 PM (GKQDR)

50 is this what they feel it is in their best rent-seeking interest to say?

Bingo

Posted by: pep at August 05, 2011 01:18 PM (6TB1Z)

51 BTW, where are Obama's transcripts?

In my underpants and socks - suck it, wingnuts!

They are either there or in that magical place where all the missing socks, underwear, and other articles of clothing go once you put them through the wash.

Posted by: Sandy Burglar at August 05, 2011 01:19 PM (9hSKh)

52 Yep, we had the power in our hands, and the GOP simply refused to exercise it. The GOP is flaccid and impotent, and no amount of viagra is going to help.

This whole strategy of playing "the long game" is real useful when you have four full quarters ahead of you. But, the reality is... you're in 2-minute drill mode and your down 14 (trillion) pts. Good thing we just punted on 4th down.

Posted by: Brock O'Bama at August 05, 2011 01:19 PM (n1JN0)

53 If we rescind the EITC and give the savings to wealth creators like S&P, they'll subsume their business to our political campaigns, instead, I bet.

That's how the Democrats got 'em, right?

Posted by: oblig. (R) at August 05, 2011 01:19 PM (xvZW9)

54 Just pass a law that makes it illegal to downgrade our financial ratings. Duh!

Posted by: Barry the 8th I AM at August 05, 2011 01:19 PM (2wwBU)

55 "It's not like it could be the fault of the party that deficit spent $5T in the last two-and-a-half years." You're right, but the RINOs are complicit. They had four shots, and they've blown them all: Debt Ceiling 1, CRA FY2011, Budget 2012, and Debt Ceiling 2.

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:20 PM (cbyrC)

56 BTW: Did anyone notice that the JEF is a stuttering clusterfuck of a miserable failure?

Posted by: Jimmuy at August 05, 2011 01:20 PM (0La/N)

57 Copycats.

Posted by: Dagong at August 05, 2011 01:20 PM (sOXQX)

58 Looking forward, does anyone really believe that a solid GOP majority going into 2013 will even help?

Oh for God's sake, grow the hell up. If it's all hopeless, and it doesn't matter who is elected, why are you here bitching instead of digging your bomb shelter?

Posted by: pep at August 05, 2011 01:20 PM (6TB1Z)

59 It's not like it could be the fault of the party that deficit spent $5T in the last two-and-a-half years."

Sure, blame the victim.

Posted by: WalrusRex at August 05, 2011 01:21 PM (Hx5uv)

60 But wingnutz, I have a record of donations to my reelection campaign coming in from people in $50 increments! Proof that the small man loves me! BTW, since I know you also want to donate, I accept Visa, MC, Discover, AMEX, Food Stamps, and Titelist NXT Tour Golf Balls.

Posted by: Barry 0 at August 05, 2011 01:21 PM (qR9y8)

61 And this whole - "but the GOP will get blamed if we shutdown the government". Guess what, we're getting blamed anyways. We accepted the debt deal, that accomplished absolutely nothing (except of funny clip of Boehner collapsing, exhausted in a fucking elevator - real heavy lifting there, bud) and the scripts were already being written to put the blame for any negative squarely on the GOP.

Posted by: Brock O'Bama at August 05, 2011 01:21 PM (n1JN0)

62 48 Exactly. Everyone who even hinted that raising the ceiling would avert a downgrade was a liar or a useful idiot.

It was supposed to hold it off for awhile, but you don't win either way. Without significant reform and spending cuts, you will be forced to keep raising the debt ceiling. Default wouldn't have helped either, since the Democrats have proven they do not want to do what it takes. You get pain either way.

Posted by: 80sBaby at August 05, 2011 01:22 PM (o2lIv)

63 Exactly. Everyone who even hinted that raising the ceiling would avert a downgrade was a liar or a useful idiot.

This was the best we could do with 1/2 of 1/.3 of the government. And you're stupid, tea party hooligans.

Posted by: Mill Bitchell at August 05, 2011 01:22 PM (sOXQX)

64 Oh, and like Rush has been saying all week: There is no compromise with someone who does not have a moral position, there is no compromise with someone who wants to destroy you. And everything about the modern left is without morals and seeks the utter destruction of personal freedom and individual wealth. You cannot compromise with someone who believes your very existence is a problem.

Wait.. I thought I was told to sit down and shut up because this was the best deal possible.. And not to listen to the echo chamber of talk radio..

Let the smart people who know how this works do their job..

Posted by: Dave C at August 05, 2011 01:23 PM (rus4r)

65 "You'll have to pry the entitlements and the cushy, benefits laden government jobs from their rioting hands." Exactly. When they riot, I want them to riot on their turf and against each other. There is nothing that will unify them like an all-GOP federal government. And yes, I said *them* because they are not my countrymen.

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:23 PM (cbyrC)

66 BTW, where are Obama's transcripts? Where are Obama's classmates and 'students'?

Posted by: t-bird at August 05, 2011 01:23 PM (FcR7P)

67 Government Official: We're Expecting Arranging An S&P Downgrade

Posted by: Charlie Sheen at August 05, 2011 01:23 PM (MMC8r)

68 BTW, where are Obama's transcripts? Posted by Ace at 04:57 PM New Comments Thingy
Must've left them in my other pants.

Posted by: Sandy Berger at August 05, 2011 01:23 PM (DrWcr)

69 Fuck you, S&P....seriously Where the the fuck were you back in 2007 when shit was falling apart the first time and you thought Freddie and Frannie and the rest of TBTF were all hunky-dory. Now you didn't get the debt ceiling deal you wanted so you pitching a fit so you can blackmail the spineless wing of the GOP into tax inc......err.....revenue enhancements. Well..FUCK.YOU. And fuck you donk party. And fuck you Barack Obama.

Posted by: theadmiral at August 05, 2011 01:24 PM (j/iKM)

70 40 29 Yes, but once they downgrade, how long until the other ratings agencies follow suit?

Since Moody's and Fitch both issued their ratings first, what would happen if the rating agencies split over the issue for the time being?

Posted by: 80sBaby at August 05, 2011 01:24 PM (o2lIv)

71 "If it's all hopeless, and it doesn't matter who is elected, why are you here bitching instead of digging your bomb shelter?" Because it's already dug. And because everybody who argued that raising the debt ceiling would avert a downgrade is a liar or a useful idiot. That cannot be repeated enough times.

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:24 PM (cbyrC)

72 This is odd: MoodyÂ’s and Fitch reaffirmed the U.S. as AAA on Tuesday

So why does S&P disagree?

Moody's didn't "reaffirm" anything. What they did was lower the outlook of us to "Negative" and indicate that our current monetary position may impact our rating at our next review with them.

Fitch indicated that they would conduct a review in August and would not guarantee that the US would emerge AAA.

So not like "yes you keep your AAA" more like well "yes you still are AAA today *until* we get around to reviewing and lowering your rating. "

Also Dagong (China's rater) downgraded us to A with a negative outlook.

Posted by: MikeTheMoose at August 05, 2011 01:24 PM (0q2P7)

73 But I feel like collapse is inevitable.

It is, because those that are supposed to be on "our side" aren't serious. They're always engineering compromise after compromise, giving ground when they shouldn't, and time after time we end up with the short end of the stick.

Posted by: Blacque Jacques Shellacque at August 05, 2011 01:25 PM (UF15p)

74 Never let a good crisis go to waste.

Posted by: Barky O'Genius at August 05, 2011 01:25 PM (QKKT0)

75 And I am calling for a 100% Tax Rate on National Debt Rating Companies that downgrade our Debt Rating.

Posted by: Barry the 8th I AM at August 05, 2011 01:25 PM (2wwBU)

76 So why does S&P disagree?

Check bounced.

Posted by: Standard & Poors at August 05, 2011 01:25 PM (Zi+FQ)

77 Ace, can we get a flaming skull on this once S&P pipes up. It seems like the news of the week.

Posted by: Methos at August 05, 2011 01:25 PM (sOXQX)

78 61 Looking forward, does anyone really believe that a solid GOP majority going into 2013 will even help?

Oh for God's sake, grow the hell up. If it's all hopeless, and it doesn't matter who is elected, why are you here bitching instead of digging your bomb shelter?

Posted by: pep at August 05, 2011 05:20 PM (6TB1Z)

Rudy Guiliani could turn this economy around rather quickly.

Trump could too, but only if he were running as the republican candidate.

Christie could too.

even romney could do it but not with the kind of cooperation the other three would get from the street.

Posted by: curious at August 05, 2011 01:26 PM (k1rwm)

79 "Without significant reform and spending cuts, you will be forced to keep raising the debt ceiling." Not raising the debt ceiling would have forced significant reform and spending cuts.

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:26 PM (cbyrC)

80 Rescind EITC and give it to the elderly, then personalize SS so wall st gets trillions to play with = pinning combo

Posted by: Jean at August 05, 2011 01:26 PM (46qC3)

81 1 S&P will cite GOP refusal to raise taxes as the reason for downgrade? WTF...

Posted by: Jose at August 05, 2011 04:59 PM (WTNJJ)

I think the story indicated that the adminstration's spin will be the downgrade is the Republicans' fault. Doesn't take a team of crack investigative reporters to figure that one out, though.

Posted by: Insomniac at August 05, 2011 01:27 PM (v+QvA)

82 Whaddya mean we're out of money?! Unpossible! We still have checks in the checkbook and credit cards in our wallets.

Posted by: You Know Who They Are at August 05, 2011 01:27 PM (4q5tP)

83 If Moody's issues a partisan hack statement with a downgrade, it really will signal the end of civilization as we know it. It'll show they're more of a joke than they already are.

BTW, i've heard over the years from friends in finance and other shop-talk, that Moody's is one giant joke of a company. I didn't think serious people actually payed any attention to them. This was several years ago too, so I'm sorta confused at all this Moody's talk recently.

I honestly don't know much about Moody's, but from what i've heard over the years is that they're kinda like the lame anti-virus that is advertized on tv (thanks honey, interwebs is 3x faster!!), while real IT people use NOD32 or AVG

Posted by: Reid and Pelosis' xanax dealer .. and tea party terrorist at August 05, 2011 01:27 PM (eXQfZ)

84 Obama ruined our FICO score? Unprecedented.

Posted by: PR at August 05, 2011 01:28 PM (Iyq1N)

85 Why would S&P differentiate between a tax increase or a spending cut.

They want to do a downgrade and be honest with their investors to keep their credibility. They don't want the department of education swat teams breathing down their necks; so they negotiated a downgrade announcement that keeps Obama from kicking them in the junk any way he can.

So its on a Friday after close, to give the market time to calm down.
And
It blames Republicans for the problem.

Neither one of those things does S&P care about much.

Posted by: MikeTheMoose at August 05, 2011 01:29 PM (0q2P7)

86 "but from what i've heard over the years is that they're kinda like the lame anti-virus that is advertized on tv" MOMMMMMMM! The internet is SO SLOOOOOOOOWWWWW!

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:29 PM (cbyrC)

87 I'll kiss the source's ass and give them 30 minutes to draw a crowd if S&P names any political party in any statement. That won't happen. Dream the eff on leftards. Your President's brilliant budgeting is what got us here. Own it.

Posted by: Circa (Insert Year Here) at August 05, 2011 01:29 PM (B+qrE)

88 I didn't think serious people actually payed any attention to them. This was several years ago too, so I'm sorta confused at all this Moody's talk recently

Ummmm we were talking about S&P not Moody's

Posted by: MikeTheMoose at August 05, 2011 01:30 PM (0q2P7)

89 99% of everyone watching nightly news will think moody's downgraded us because of the evil tea party, whether its true or if moody's is worth two shits. Very sad, and scary

Posted by: Reid and Pelosis' xanax dealer .. and tea party terrorist at August 05, 2011 01:30 PM (eXQfZ)

90 75 Moody's didn't "reaffirm" anything. What they did was lower the outlook of us to "Negative" and indicate that our current monetary position may impact our rating at our next review with them.

I understood that part.

Fitch indicated that they would conduct a review in August and would not guarantee that the US would emerge AAA.

So not like "yes you keep your AAA" more like well "yes you still are AAA today *until* we get around to reviewing and lowering your rating. "...

I thought they said potentially 12-18mos, though that sounded like too long of a period. But if S&P is going to do it sooner rather than later (since it is inevitable), why are Moody's and Fitch waiting?

Posted by: 80sBaby at August 05, 2011 01:30 PM (o2lIv)

91 i haz all teh powerz

Posted by: loljew at August 05, 2011 01:30 PM (uKEj1)

92 Come on democrats, give me Clinton era spending. He had a surplus, you tell us over and over again. Clinton Spending Levels, Yes we can.

Posted by: Guy Fawkes at August 05, 2011 01:30 PM (4QeK8)

93 The only thing saving us so far is that everyone else's bonds are more subprime.

Posted by: PR at August 05, 2011 01:30 PM (Iyq1N)

94 86 Whaddya mean we're out of money?! Unpossible! We still have checks in the checkbook and credit cards in our wallets.

Posted by: You Know Who They Are at August 05, 2011 05:27 PM (4q5tP)

And the printing presses still work, so what's the big deal?

Posted by: Teh Bernank at August 05, 2011 01:30 PM (v+QvA)

95 And because everybody who argued that raising the debt ceiling would avert a downgrade is a liar or a useful idiot. That cannot be repeated enough times.

You knuckledraggers need to stop thinking for yourselves and just support us with your votes so we can run the Democrat's government better than them. TARP proved our go along to get along approach is the only path to economic stability, so stop rocking our boat.

Posted by: pragmatic socialist establishment republican at August 05, 2011 01:31 PM (sOXQX)

96 Ummmm we were talking about S&P not Moody's

Yeah sorry, oops.. point same though. Moody's will follow

Posted by: Reid and Pelosis' xanax dealer .. and tea party terrorist at August 05, 2011 01:31 PM (eXQfZ)

97 82 Not raising the debt ceiling would have forced significant reform and spending cuts.

Potentially, but even that wouldn't have been enough.

Posted by: 80sBaby at August 05, 2011 01:32 PM (o2lIv)

98 Everything in America would be better if only your betters in NY were in complete control of everything.

Posted by: inquisitive at August 05, 2011 01:33 PM (sOXQX)

99 I'll kiss the source's ass and give them 30 minutes to draw a crowd if S&P names any political party in any statement.

Your right they will not BUT they would say something like.

"Insufficient deficit reduction driven by an extreme position that additional revenues could not be raised leads us to...."

Posted by: MikeTheMoose at August 05, 2011 01:33 PM (0q2P7)

100
Today's Media Word of the Day: Roller Coaster.

it was a "roller coaster ride" today on Wall Street --

wheeeeeeeeeeeee!

"Obama was pleased with the jobs report."

wheeeeeeeeeeeeee!

Everyone get on the roller coaster.

wheeeeeeeeeeeeee!

Posted by: Soothsayer at August 05, 2011 01:33 PM (TV3Gh)

101

told you so

Posted by: The Tea Party at August 05, 2011 01:34 PM (sVk8z)

102 Boy, this will make for a gentle and civil election next year.

Posted by: weft cut-loop at August 05, 2011 01:34 PM (DEcmU)

103

Yep, we had the power in our hands, and the GOP simply refused to exercise it. The GOP is flaccid and impotent, and no amount of viagra is going to help.

I'm convinced that the debt deal just made was an attempt by the old repub leadership, democrats and others in the DC elite class to marginalize the Tea Party. Nothing else.

Posted by: Alvin Greene at August 05, 2011 01:34 PM (jrD0A)

104 I thought they said potentially 12-18mos, though that sounded like too long of a period. But if S&P is going to do it sooner rather than later (since it is inevitable), why are Moody's and Fitch waiting?

You mean "Oh Moody's and Fitch know that S&P has more on the line so they are waiting for them to make a move to give them cover"

Posted by: MikeTheMoose at August 05, 2011 01:35 PM (0q2P7)

105 This'll be a Flaming Dollar Bill when it happens. "Gloom, despair, and agony on me Deep, dark depression, excessive misery..." Now, do your share and dance!

Posted by: t-bird at August 05, 2011 01:35 PM (FcR7P)

106 "I'm convinced that the debt deal just made was an attempt by the old repub leadership, democrats and others in the DC elite class to marginalize the Tea Party." I would not say that I am convinced of that, but it is as good an explanation as any other.

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:35 PM (cbyrC)

107 Sock off (sigh)

Posted by: Soona - Tearorrist at August 05, 2011 01:36 PM (jrD0A)

108 And because everybody who argued that raising the debt ceiling would avert a downgrade is a liar or a useful idiot. That cannot be repeated enough times.

I'll make you a wager. If you can document when I said that raising the debt ceiling would avert a downgrade, I'll retire from this site for good. If you can't, you retire for good. Bet?

Posted by: pep at August 05, 2011 01:37 PM (6TB1Z)

109 The funny thing is that any deal raising taxes would have tanked the market even worse than what happened.

Posted by: joeindc44 at August 05, 2011 01:37 PM (QxSug)

110 Sock off (sigh) Posted by: Soona - Tearorrist

Still worked with the sock in a way..

Posted by: Dave C at August 05, 2011 01:37 PM (rus4r)

111 OT: A sign the apocalypse is near.

Libs want Bert & Ernie to get married on Sesame Street, maybe add transgendered character.

http://tinyurl.com/3nvecoa

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 01:38 PM (iYbLN)

112 114 And because everybody who argued that raising the debt ceiling would avert a downgrade is a liar or a useful idiot. That cannot be repeated enough times.

I'll make you a wager. If you can document when I said that raising the debt ceiling would avert a downgrade, I'll retire from this site for good. If you can't, you retire for good. Bet?

IOW, Barry isn't the only one capable of setting up straw men.

Posted by: pep at August 05, 2011 01:39 PM (6TB1Z)

113 They're downgrading us because their math skills allow them to see right away that we will still be increasing spending, year over year. THERE WERE NEVER ANY ACTUAL CUTS. EVER.

Posted by: Empire of Jeff, Jesusland Liberation Army - Political Terror Brigade at August 05, 2011 01:39 PM (lbo6/)

114 OT: Unsurprisingly...Fannie Mae seeks $5.1 billion more from taxpayers

Posted by: 80sBaby at August 05, 2011 01:39 PM (o2lIv)

115

Libs want Bert & Ernie to get married on Sesame Street

and I still live in a fucking trash can

Posted by: Oscar the Grouch at August 05, 2011 01:40 PM (uKEj1)

116 110 You mean "Oh Moody's and Fitch know that S&P has more on the line so they are waiting for them to make a move to give them cover"

Point taken.

Posted by: 80sBaby at August 05, 2011 01:40 PM (o2lIv)

117 Libs want Bert & Ernie to get married on Sesame Street, maybe add transgendered character.

Oh pleeeze make it so. It would be so coooool!

Cause then BLAM! PBS/NPR cut out of the budget.

Posted by: MikeTheMoose at August 05, 2011 01:40 PM (0q2P7)

118 Front to Left-still waiting.

Posted by: pep at August 05, 2011 01:41 PM (6TB1Z)

119 I can see why S&P would downgrade us after that deal - the cuts were long term, but our debt is mostly short term.

Posted by: Jean at August 05, 2011 01:41 PM (JjNG+)

120 Standard & Poor's Sovereigns Ratings List
http://goo.gl/uWzg9

Canada - AAA
Bermuda - AA
Botswana - A

Posted by: Laurie David's Cervix at August 05, 2011 01:41 PM (EeYDk)

121 Ah, HAHAHAHAHAHAHAHA! (breath) Ah, hajahahhahajajajaj

Posted by: Some dope at August 05, 2011 01:41 PM (e7Hze)

122 "Potentially, but even that wouldn't have been enough." I'm sorry. My comment to you comes across much more snarky than I intended. If raising the debt ceiling is a foregone conclusion because the consequences of not raising the debt ceiling are too horrible to countenance, then the GOP House has no leverage. Further, if there was no way not to default without raising the debt ceiling, then it is already over, and the ratings agencies have no business not downgrading us.

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:42 PM (cbyrC)

123 Observation (politics): Something is seriously fucked up
Submission (politics): Blame a republican

Posted by: kathysaysso at August 05, 2011 01:42 PM (ZtwUX)

124

A Credit Rating Downgrade?

Oh my! Now how are we ever going to be able talk about those things that all of us can agree on, like more fucking government programs?

Kudos to Caesar Barackus! He managed to do in just over half a term what FDR couldn't get done in over three.

Jackass.

Posted by: arik at August 05, 2011 01:42 PM (BkBlb)

125 115 ...Don't treat these ratings agencies as if they are serious businesses. They are not. They are dangerous jokes and political machines for the dems.

They've ignored a number of things in the past and cheer-lead for the Dems, but the downgrades still matter.

Posted by: 80sBaby at August 05, 2011 01:43 PM (o2lIv)

126 Don't treat these ratings agencies as if they are serious businesses. They are not. They are dangerous jokes and political machines for the dems.

I don't think it's that any of us trust the agencies, per se. It's more a matter of there being an awful lot of folks in the financial industry who have to factor the agencies' pronouncements in their decisions. So the issue is the consequence of those decisions, not 'S&P doesn't like us anymore.'

Posted by: Methos at August 05, 2011 01:43 PM (sOXQX)

127 I can see why S&P would downgrade us after that deal - the cuts were long term, but our debt is mostly short term.

What that we had NO WILL WHATSOEVER TO REFORM ENTITLEMENTS?!

And

No matter what we do they will bankrupt us within 10 years, and more likely within 5, and currently, it's looking more like a year and a half.

Posted by: MikeTheMoose at August 05, 2011 01:43 PM (0q2P7)

128 If you can document when I said that raising the debt ceiling would avert a downgrade, I'll retire from this site for good. If you can't, you retire for good. Bet? How about this: How about telling me when I said that YOU said that raising the debt ceiling would avert a downgrade? You seem a little touchy on this topic. Why?

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:43 PM (cbyrC)

129 Tax increases eventually generate less revenue for the government. WHY o WHY is that so difficult for them to understand?!?

Posted by: © Sponge at August 05, 2011 01:44 PM (p/9rC)

130 Libs want Bert & Ernie to get married on Sesame Street, maybe add transgendered character.

Is nothing fucking sacred? What's going to be the new transgendered character, Snufadickvaguganlus?

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 01:44 PM (9hSKh)

131 Didn't think so. Punk.

Posted by: pep at August 05, 2011 01:45 PM (6TB1Z)

132 You're gonna need a bigger flaming cup for this one. This will be epic.

Posted by: cherry π at August 05, 2011 01:46 PM (OhYCU)

133 WHY o WHY is that so difficult for them to understand?!?

They can't comprehend a world where your money is yours

Posted by: MikeTheMoose at August 05, 2011 01:46 PM (0q2P7)

134 137 Libs want Bert & Ernie to get married on Sesame Street, maybe add transgendered character.

Is nothing fucking sacred? What's going to be the new transgendered character, Snufadickvaguganlus?

Posted by: Kratos (Ghost of Sparta) at August 05, 2011 05:44 PM (9hSKh)

A post-op tranny named Willie Ben-Friedman.

Posted by: Insomniac at August 05, 2011 01:46 PM (DrWcr)

135

and I still live in a fucking trash can Posted by: Oscar the Grouch

Shit - I always thought you were a rotting corpse in a trash can. Not sure if you're more or less creepy now.

Posted by: Dang at August 05, 2011 01:46 PM (TXKVh)

136
Just to make sure everyone remembers how much of a low-down miserable cocksucker John Kerry is, here's something from last December.

"But I hope Americans will understand how craven and empty and hollow and contradictory the republican position is."

He was talking about how the Republicans were forcing Obama and the Democrats to extend the so-called Bush-era tax cuts.

Posted by: Soothsayer at August 05, 2011 01:47 PM (Iw9oN)

137
If I asked all of you to describe John Kerry in two words, wouldn't those two words be craven and hollow?

Posted by: Soothsayer at August 05, 2011 01:48 PM (6ndas)

138 Didn't think so.Â Punk.<<< What's got your butt on your shoulder? If ther shoe don't fit don't wear it.

Posted by: Empire of Jeff, Jesusland Liberation Army - Political Terror Brigade at August 05, 2011 01:48 PM (lbo6/)

139

4 out of 5 economists agree

Posted by: Barack Obama for Higher Taxes at August 05, 2011 01:48 PM (uKEj1)

140 Tax increases eventually generate less revenue for the government. WHY o WHY is that so difficult for them to understand?!?
Posted by: Â© Sponge at August 05, 2011 05:44 PM

It isn't about revenue. That's just lip service. It's about what's yours and what's the governments. They think it's all the governments.

Posted by: huerfano at August 05, 2011 01:49 PM (iezIp)

141 "Didn't think so. Punk." You got so distracted building your own strawman that you mistook it for mine. Go fuck yourself.

Posted by: FRONT TOWARD LEFT at August 05, 2011 01:50 PM (cbyrC)

142 If it happens it won't come until after 8 o'clock.

Posted by: curious at August 05, 2011 01:50 PM (k1rwm)

143 If I asked all of you to describe John Kerry in two words, wouldn't those two words be craven and hollow?
Posted by: Soothsayer at August 05, 2011 05:48 PM

Is that fancy talk for worthless dickhead?

Posted by: huerfano at August 05, 2011 01:50 PM (iezIp)

144

4 out of 5 communists agree

Posted by: Barack Obama for Higher Taxes

Posted by: Dang at August 05, 2011 01:50 PM (TXKVh)

145 If I asked all of you to describe John Kerry in two words, wouldn't those two words be craven and hollow? Rocky Dennis.

Posted by: Empire of Jeff, Jesusland Liberation Army - Political Terror Brigade at August 05, 2011 01:50 PM (lbo6/)

146 I blame the 52%ers. This is the epitome of what happens when uninformed voters vote.

Posted by: Soona - Tearorrist at August 05, 2011 01:50 PM (jrD0A)

147 It isn't about revenue. That's just lip service. It's about what's yours and what's the governments. They think it's all the governments.

Posted by: huerfano at August 05, 2011 05:49 PM (iezIp)

Yeah....who knew George Orwell was such a fucking Nostradamus.

All your everything are belong to US!!!!

Posted by: © Sponge at August 05, 2011 01:51 PM (p/9rC)

148 129 "Potentially, but even that wouldn't have been enough."

I'm sorry. My comment to you comes across much more snarky than I intended.

If raising the debt ceiling is a foregone conclusion because the consequences of not raising the debt ceiling are too horrible to countenance, then the GOP House has no leverage.

Further, if there was no way not to default without raising the debt ceiling, then it is already over, and the ratings agencies have no business not downgrading us.

The downgrade and a later default are and were inevitable; the primary thing the people who supported/support the deal said/are saying is to keep buying more time because nothing more substantial can take place until Obama is gone (arguing for managed decline under a conservative government). Nothing more substantial would have happened with either the debt deal or default right now, and we're going to be back in that same place eventually. We're damned if we do and damned if we don't. Regardless, we most certainly do not deserve our current credit rating, and haven't for some time.

Posted by: 80sBaby at August 05, 2011 01:52 PM (o2lIv)

149 The republicans want to spend less money and lower the debt, but yeah they are to blame, not obama. LOL What a crock.

Posted by: Dan at August 05, 2011 01:52 PM (mXBxH)

150 If I asked all of you to describe John Kerry in two words, wouldn't those two words be craven and hollow?

dick head.

Posted by: © Sponge at August 05, 2011 01:52 PM (p/9rC)

151 If they pre-announce the downgrade, then nobody's going to buy T's until it happens.

Posted by: t-bird at August 05, 2011 01:52 PM (FcR7P)

152 They're downgrading us because their math skills allow them to see right away that we will still be increasing spending, year over year.

THERE WERE NEVER ANY ACTUAL CUTS. EVER. Posted by: Empire of Jeff, Jesusland Liberation Army - Political Terror Brigade at August 05, 2011 05:39 PM

Hah! There is no math in this administration. Math is racist.

Posted by: Barry Obama at August 05, 2011 01:52 PM (iezIp)

153 S&P is racist and homophobic

Posted by: cherry π at August 05, 2011 01:53 PM (OhYCU)

154 137 Libs want Bert & Ernie to get married on Sesame Street, maybe add transgendered character.

Is nothing fucking sacred? What's going to be the new transgendered character, Snufadickvaguganlus?
Posted by: Kratos (Ghost of Sparta)

*golfclap*

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 01:53 PM (iYbLN)

155 157 If I asked all of you to describe John Kerry in two words, wouldn't those two words be craven and hollow?

dick head.

Posted by: Â© Sponge at August 05, 2011 05:52 PM (p/9rC)

Limp Dick

Posted by: The Robot Devil at August 05, 2011 01:54 PM (+hB3s)

156

dick head.

2 x 4!

Posted by: garrett at August 05, 2011 01:54 PM (uKEj1)

157 You would think the administration would be freaking out cause what president wants the mantle of having the nation's credit rating downgraded two years into their administration?

Posted by: curious at August 05, 2011 01:54 PM (k1rwm)

158
What'd we learn this week in Bizzarro Universe, boys and goyls?

We learned that fiscal responsibility (spending) and government restraint (regulations) are drags on the economy.

Posted by: Soothsayer at August 05, 2011 01:55 PM (q19mL)

159 Poor Barry's done worn hisself out:

President Obama has left the White House for Camp David.

The pool reports Obama left the West Wing around 3:40 p.m., waving to a crowd as he boarded his helicopter. Valerie Jarrett, Reggie Love and Pete Souza are tagging along.

Posted by: Jane D'oh at August 05, 2011 01:55 PM (UOM48)

160 Libs want Bert & Ernie to get married on Sesame Street, maybe add transgendered character.

Bert may be gay, but Ernie?!? NO fucking way......none. Ernie beats up gays.

Posted by: © Sponge at August 05, 2011 01:56 PM (p/9rC)

161 Tapper now says this:

"Another government official confirms the Obama administration is preparing for the downgrade but is not 100% positive itÂ’s going to happen, and if it does happen officials are not sure when it will happen.

Before ratings agencies issue a downgrade, there is often some back and forth that goes on behind the scenes. Treasury Department officials have been making the case for months that S&P should not downgrade US debt."

Posted by: 80sBaby at August 05, 2011 01:56 PM (o2lIv)

162 The pool reports Obama left the West Wing around 3:40 p.m., waving to a crowd as he boarded his helicopter. Valerie Jarrett, Reggie Love and Pete Souza are tagging along.

Posted by: Jane D'oh at August 05, 2011 05:55 PM (UOM4

Valerie doesn't have enough holes for that......

Posted by: © Sponge at August 05, 2011 01:56 PM (p/9rC)

163

Camp David.

I'm amazed he hasn't renamed that place

Posted by: garrett at August 05, 2011 01:57 PM (uKEj1)

164 Ok, ok, who did it. Who broke the major trend line for the DOW today? Little Baracky? You, Timmie and Bennie go sit it the corner...

Posted by: The Robot Devil at August 05, 2011 01:57 PM (+hB3s)

165 The S&P's behavior is that of a national wrecking crew.

Blowing up the U.S. economy to make a point would be an even more serious attack, in my book. And thatÂ’s what the S&P saboteurs were threatening.

Posted by: cherry π at August 05, 2011 01:57 PM (OhYCU)

166 What would the line in the history book say? BO, two years into his term the nation's credit rating was downgraded by the all major ratings agencies after failing to get profligate government spending under control. And, oh yeah, they got OBL too.

Posted by: curious at August 05, 2011 01:57 PM (k1rwm)

167 170

Camp David.

I'm amazed he hasn't renamed that place

Shhhhhhh!!! Don't give him any ideas!

Posted by: Jane D'oh at August 05, 2011 01:58 PM (UOM48)

168

Bert may be gay, but Ernie?!? NO fucking way......none. Ernie beats up gays.

I'm very confilicted, actually.

Posted by: Ernie, self-loathing closeted homo at August 05, 2011 01:58 PM (3SvjA)

169
Headline Monday:

U.S. Credit Downgraded, Japan Earthquake Likely Cause

Posted by: Soothsayer at August 05, 2011 01:58 PM (+pzpw)

170 168 The pool reports Obama left the West Wing around 3:40 p.m., waving to a crowd as he boarded his helicopter. Valerie Jarrett, Reggie Love and Pete Souza are tagging along.

Posted by: Jane D'oh at August 05, 2011 05:55 PM (UOM4

Valerie doesn't have enough holes for that......

Posted by: Â© Sponge at August 05, 2011 05:5

They are sneaking in Kal Penn....

Posted by: The Robot Devil at August 05, 2011 01:58 PM (+hB3s)

171 Libs want Bert & Ernie to get married on Sesame Street, maybe add transgendered character.

Bert may be gay, but Ernie?!? NO fucking way......none. Ernie beats up gays.
Posted by: Â© Sponge

Word around the Muppet world is Ernie spends quite a bit of time in Thailand. IYKWIM

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 01:58 PM (iYbLN)

172 The pool reports Obama left the West Wing around 3:40 p.m., waving to a crowd as he boarded his helicopter. Valerie Jarrett, Reggie Love and Pete Souza are tagging along.

Posted by: Jane D'oh at August 05, 2011 05:55 PM (UOM4

Time for some Truth or Dare hijinks tonight!

Posted by: Count de Monet at August 05, 2011 01:58 PM (4q5tP)

173 An insider says Valerie's bringing a strap-on.

Posted by: Jane D'oh at August 05, 2011 01:59 PM (UOM48)

174 Let me get this straight...so if Republicans in Congress are to blame for this downturn, does that mean the Democrat-controlled Congress that took over in 2007 is responsible for the meltdown of 2008? The Democrats' excuses have as many loopholes as their godawful health care bill.

Posted by: Mike at August 05, 2011 01:59 PM (ptP00)

175

What'd we learn this week in Bizzarro Universe, boys and goyls?

I learned that I probably shouldn't have told my 10 year old that there was a song called "Pac-Man Fever".

Posted by: Mama AJ, hearing it for the 4th time at August 05, 2011 01:59 PM (XdlcF)

176 They're downgrading us because their math skills allow them to see right away that we will still be increasing spending, year over year.

THERE WERE NEVER ANY ACTUAL CUTS. EVER. Posted by: Empire of Jeff,

Dude. There are lower levels of spending increases.

Think of it this way. It's like Obama is sucking dick, but he's sucking it slower. So it's almost like he's not sucking dick at all. Sure, the dick is still in his mouth, it's just that he's sucking it so slowly he's barely moving. If you just glanced you'd think, "Dick in the mouth, but not sucking. Hmm."

Does this make sense? I'm trying to help. Really.

Posted by: Dang at August 05, 2011 01:59 PM (TXKVh)

177 Valerie Jarrett, Reggie Love and Pete Souza are tagging along.

I'm amazed he hasn't renamed that place

Camp Titicaca Cockacaca

Posted by: laceyunderalls at August 05, 2011 01:59 PM (pLTLS)

178
Amy Whinehouse Dead, Police Question Japan Earthquake

Posted by: Soothsayer at August 05, 2011 01:59 PM (uaD9E)

179 157 - gigolo traitor, get the facts down - then get into personal slurs

Posted by: Jean at August 05, 2011 02:00 PM (C/Pop)

180 An insider says Valerie's bringing a strap-on.
Posted by: Jane D'oh

She doesn't need one. I hear she's the only one with balls and a dick.

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 02:00 PM (iYbLN)

181 177
Headline Monday:

U.S. Credit Downgraded, Japan Earthquake Likely Cause

Headline Monday - US Credit Downgraded, Lack of Global Warning Accord Most Likely Cause.

Posted by: The Robot Devil at August 05, 2011 02:00 PM (+hB3s)

182

I'm very confilicted, actually.

Posted by: Ernie, self-loathing closeted homo at August 05, 2011 05:58 PM (3SvjA)

No you're not.....

Posted by: © Sponge at August 05, 2011 02:00 PM (p/9rC)

183 If I asked all of you to describe John Kerry in two words, wouldn't those two words be craven and hollow?

Posted by: Soothsayer at August 05, 2011 05:48 PM (6ndas)

Horse's ass.

Is that two words or three? I was never very good at English.

Posted by: ErikW at August 05, 2011 02:01 PM (xFfE9)

184 abc radio news is reporting this like it is a given.

Posted by: curious at August 05, 2011 02:02 PM (k1rwm)

185

I really have a question that must be answered and since you spend so much time down there you should know so here goes.

Curious, does Donald Trump's pubic hair have the same style as the hair on his head?

Posted by: buzzion at August 05, 2011 02:02 PM (oVQFe)

186 Word around the Muppet world is Ernie spends quite a bit of time in Thailand. IYKWIM

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 05:58 PM (iYbLN)

I heard that was Grover, the dark blue freak.

Posted by: © Sponge at August 05, 2011 02:02 PM (p/9rC)

187 U.S. Credit Downgraded, Perry Prayer Vigil Likely Cause

Posted by: cherry π at August 05, 2011 02:02 PM (OhYCU)

188

An insider says Valerie's bringing a strap-on.

I packed the double ender, too.

Posted by: Valerie Jarrett at August 05, 2011 02:02 PM (uKEj1)

189 Treasury Department officials have been making the case for months that S&P should not downgrade US debt."

And that would be....? "We're good for it! Swearsies!!"

Posted by: MikeTheMoose at August 05, 2011 02:02 PM (0q2P7)

190 FBI Reopens JFK Assassination Inquiry, Names Japan Earthquake Persons Of Interest

Posted by: Count de Monet at August 05, 2011 02:02 PM (4q5tP)

191 How's that whole Fast and Furious case going?

Posted by: garrett at August 05, 2011 02:02 PM (uKEj1)

192 Ms80s, so the hard sell is on

Posted by: Jean at August 05, 2011 02:02 PM (C/Pop)

193

Camp David.

I'm amazed he hasn't renamed that place

Posted by: garrett at August 05, 2011 05:57 PM (uKEj1)

If they do, it'll be something like Camp Dahvio. Or Camp Taco if Michelle has any say in it.

Posted by: Soona - Tearorrist at August 05, 2011 02:03 PM (jrD0A)

194 Headline: Barck Obama Caught With Dead Thai Ladyboy, KKK Claims Responsibility.

Posted by: The Robot Devil at August 05, 2011 02:03 PM (+hB3s)

195 Headline Monday - US Credit Downgraded, Lack of Global Warning Accord Most Likely Cause.

More likely this....

Headline Monday - US Credit Downgraded, Bert & Ernie Unable To Marry Most Likely Cause.

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 02:03 PM (iYbLN)

196 "The downgrade and a later default are and were inevitable; the primary thing the people who supported/support the deal said/are saying is to keep buying more time because nothing more substantial can take place until Obama is gone (arguing for managed decline under a conservative government)." My contention is that the collapse will suck badly no matter who is in charge. If the collapse happens now, then the people with the political upper hand at the moment will take it out on each other. If the collapse happens when the democrat party is not in control, then they will be able to unite against "the man." The side that wants to be left alone is in grave danger from the side that holds itself to be entitled to fruits of others' labor. That's just the way it is. The only hope for a good outcome is to set the thieves on each other while that is even possible.

Posted by: FRONT TOWARD LEFT at August 05, 2011 02:04 PM (cbyrC)

197 174 Huh? Default is not and never was inevitable. Default was never even in consideration until Barky threatened to do it - another precedent from the White House occupier. He should have been impeached for that, BTW.

I believe he would have, because he's proven that he's simply not going to cut spending unless it somehow benefits him. He was largely absent from the last stages of negotiating this debt deal and it seems like he only signed it to either boost his ego and/or for electoral purposes. Not so sure he would have been impeached for playing that game, either. Perhaps by the House, but the Senate? How many things has he done now and still Senate Republicans especially will not even criticize him for it?

Posted by: 80sBaby at August 05, 2011 02:04 PM (o2lIv)

198

An insider says Valerie's bringing a strap-on.

So if she's with Ernie, then...is he or isn't he?

Posted by: Mama AJ at August 05, 2011 02:05 PM (XdlcF)

199 199 How's that whole Fast and Furious case going?

Posted by: garrett at August 05, 2011 06:02 PM (uKEj1)

Fox had a report earlier today that had me gob-smacked. The ATF apparently allowed cocaine to be delivered to the U.S. in exchange for the weapons.

The story is coming up during the 6:00 hour.

Can we throw Chinless in prison and impeach JEF yet?

Posted by: Jane D'oh at August 05, 2011 02:05 PM (UOM48)

200

190

See, most of that weekend is a blur.

Posted by: Ernie at August 05, 2011 02:05 PM (3SvjA)

201

The reason S&P is even thinking of downgrading US debt is because they are somewhat a more credible ratings agency than Moody's. S&P is respect more so than Moody's worldwide. Why do you think when S&P downgraded Italy just this week, Italy's PM went and confiscated S&P's documents to go after them?

And honestly America should be downgraded, this level of debt is unsustainable because now the debt is growing parabolically. Italy's PM has promised to pass a balanced budgement amendent to their consitution, lower taxes, cut regulation and cut back on debt (these are reasons the US market bounced back somewhat), gee does that sound so familiar?

Posted by: johnc_recent_EXdem at August 05, 2011 02:05 PM (ACkhT)

202 Just saw something on the news, he's going to camp david and leaving all his girls home?

Posted by: curious at August 05, 2011 02:05 PM (k1rwm)

203 sigh

Posted by: Jane D'oh at August 05, 2011 02:06 PM (UOM48)

204 Hey, Bert. Put your hand in this tub of butter. Now make a fist...

Posted by: Ernie at August 05, 2011 02:06 PM (TXKVh)

205 facepalm!

Posted by: Count de Monet at August 05, 2011 02:06 PM (4q5tP)

206

An insider says Valerie's bringing a strap-on.

So if she's with Ernie, then...is he or isn't he?

Posted by: Mama AJ at August 05, 2011 06:05 PM (XdlcF)

Why choose? Time for the "Electric Slide". YAY! Sometimes I'm the wife, sometimes I'm the husband!

Posted by: Ernie at August 05, 2011 02:07 PM (+hB3s)

207 Transcripts, like the Ark of the Covenant, ghosts, alien space discs, Easter Island, original crop circles, anything associated with Mooshelle, on this site are not permitted, even , by the most objective But at the same time, will allow most sexual references. It is one original blog space, if not queer. (I am old enough to add the "queer" thing without anyone noticing)

Posted by: tea party terrorist terrier, esq. at August 05, 2011 02:07 PM (TN7KL)

208

Posted by: johnc_recent_EXdem at August 05, 2011 06:05 PM (ACkhT)

Yeah, well, Social Security is unsustainable....Medicare is unsustainable....cap and trade is unsustainable.......Obamacare is unsustainable.

When has that ever stopped this fucking government full of 'I'm smarter than you' bastards?!?

Posted by: © Sponge at August 05, 2011 02:07 PM (p/9rC)

209 In case it hasn't been said yet: Terrorists! America held hostage! Gun to its head!

Posted by: DNC, MFM, and JournoList V.2 (BIRM) at August 05, 2011 02:08 PM (r4t7/)

210 The S&P's behavior is that of a national wrecking crew.

Blowing up the U.S. economy to make a point would be an even more serious attack, in my book. And thatÂ’s what the S&P saboteurs were threatening.

Listen S&P can say whatever they want about us, publish our rating however they please, it's our fault for becoming so dependent on deficit spending that the opinion of one stupid company can wreck our whole economy. Our fault; not their's.

Posted by: MikeTheMoose at August 05, 2011 02:08 PM (0q2P7)

211

Fox had a report earlier today that had me gob-smacked. The ATF apparently allowed cocaine to be delivered to the U.S. in exchange for the weapons.

The story is coming up during the 6:00 hour.

Can we throw Chinless in prison and impeach JEF yet?

Posted by: Jane D'oh at August 05, 2011 06:05 PM (UOM48)

Huh. So the ATF has been permitting the very illegal activities they were created to stop.

Yeah, Holder and JEF can burn in hell.

Posted by: ErikW at August 05, 2011 02:09 PM (xFfE9)

212 Ummm...transcripts not, uhhhhhhh required.

Posted by: Preznit Barky McAwesome at August 05, 2011 02:09 PM (HXWKn)

213 BTW, where are Barry's transcripts?

Posted by: Jane D'oh, wearing a cute, pink suicide vest at August 05, 2011 02:09 PM (UOM48)

214

Can we throw Chinless in prison and impeach JEF yet?

Posted by: Jane D'oh at August 05, 2011 06:05 PM (UOM4

*(crickets)*

Posted by: House/senate at August 05, 2011 02:09 PM (jrD0A)

215

Remove cat urine odor from laundry.

Use this method on your clothing, blog posts, bedding, rugs or anything you think you can stuff in the washer (not including your cat). Simply add Â¼ cup apple cider vinegar along with your normal laundry detergent, start the washer and VOILA!

Posted by: Count de Monet at August 05, 2011 02:10 PM (4q5tP)

216 is based on the US dollar and almost totally dpendent on the US dollar.

That can change much quicker than you would like it to. And if it does goodbye economy.

Posted by: MikeTheMoose at August 05, 2011 02:11 PM (0q2P7)

217 Our fault; not their's.

Posted by: MikeTheMoose

But our hearts were in the right place. Where else could a skanky crack whore get more money for the rock. Her eight kids can barely read and are too young for a flash mob? You are a racist brute!

Posted by: Libtard at August 05, 2011 02:11 PM (+hB3s)

218 45.8 million on food stamps....

wow, that is a national disgrace.

Posted by: curious at August 05, 2011 02:11 PM (k1rwm)

219

Bert and Ernie?

You didn't hear it from me...but those guys buy a lot of gerbils.

Posted by: Guy who owns the Pet Shop on Sesame Street at August 05, 2011 02:12 PM (uKEj1)

220 Fox had a report earlier today that had me gob-smacked. The ATF apparently allowed cocaine to be delivered to the U.S. in exchange for the weapons.

Now, now. As a nation we have more important things to take care of right now. Bert & Ernie must be allowed to legally marry in all 57 states. I am signing Executive Order 123456789 today. So it is written, so it is done.

President Barry Fuckweasel

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 02:12 PM (iYbLN)

221

Yeah, Holder and JEF can burn in hell.

Posted by: ErikW at August 05, 2011 06:09 PM (xFfE9)

Err, yea, you can keep them. We have standards, we look for evil scheming bastards. We screen out the evil scheming bastards that are insipid morons. Try Limbo.

Posted by: Hell at August 05, 2011 02:13 PM (+hB3s)

222

"The global financial system (like it or not) is based on the US dollar and almost totally dpendent on the US dollar. "

The status of the US dollar as the world's reserve currency was only the case from early 20th century onward, it was the U.K. sterling that was the reserve currency, they had too many debts, etc, and then the US dollar took over as the reserve. There are no gurantees that the US dollar will remain the reserve, the IMF has already warned this, even more scary, China is now sitting at 1 of 2 top spots, and while they don't want their Yuan to be the reserve, they would rather have a basket of SDR as the reserve, to them knocking off the US dollar as the reserve will make it even easier for them to become the world's biggest economy.

If QE3 happens, the decline of the US dollar as the reserve will only accelerate.

Posted by: johnc_recent_EXdem at August 05, 2011 02:13 PM (ACkhT)

223 204 My contention is that the collapse will suck badly no matter who is in charge. If the collapse happens now, then the people with the political upper hand at the moment will take it out on each other. If the collapse happens when the democrat party is not in control, then they will be able to unite against "the man." ...

It will be terrible no matter who's in charge, but it goes back to my earlier point about not trusting Obama, what he would do with this. If we had some conservatives in control who at least knew what they were doing, they could help put some policies in place to make it go down easier. (Which was the argument of some Republicans who voted for the deal, though they did not spell it out in such stark terms.) Conversely, the Dems would capitalize on the anarchy and move further towards a dictatorship. Outside of a few men like Boren and Schuler, they have shown me that they will not stop. Even now, they are pressing for more "stimulus". But you're right, there is a danger of the reverse happening. History has proven both are entirely possible.

Posted by: 80sBaby at August 05, 2011 02:13 PM (o2lIv)

224 224

Count de Monet,

Was the pussy that peed on your laundry named Barry?

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 02:14 PM (iYbLN)

225 And they're seriously talking about downgrading US debt ... LOL.

Posted by: progressoverpeace at August 05, 2011 06:08 PM (G/MYk)

Gott verdammt, you scheise Americans. Just when we were getting ready to buy Europe.

Posted by: Germany - uber alles at August 05, 2011 02:14 PM (jrD0A)

226 The GOP is flaccid and impotent, and...

Flaccid and impotent describe Boehner and McConnell perfectly.

Posted by: Blacque Jacques Shellacque at August 05, 2011 02:15 PM (UF15p)

227 233 You miss my meaning. I was saying that he should be impeached, NOW, for having made the threat to default, which is a violation of his Constitutional responsibilities, as per the 14th amendment...

I understand now. Yes.

Posted by: 80sBaby at August 05, 2011 02:17 PM (o2lIv)

228 234 224

Count de Monet,

Was the pussy that peed on your laundry named Barry?

Posted by: mpfs, Tea Party Terrorist at August 05, 2011 06:14 PM (iYbLN)

No, but the name Barry works too, in a curiously happenstance sort of way.

Posted by: Count de Monet at August 05, 2011 02:20 PM (4q5tP)

229

Err, yea, you can keep them. We have standards, we look for evil scheming bastards. We screen out the evil scheming bastards that are insipid morons. Try Limbo.

Posted by: Hell at August 05, 2011 06:13 PM (+hB3s)

I know I'm responding to a sock, but really?

Posted by: ErikW at August 05, 2011 02:21 PM (xFfE9)

230 "Conversely, the Dems would capitalize on the anarchy and move further towards a dictatorship." This gets me back to the will/means argument. The left has the will but not the means to annihilate the right. The right has the means but not the will. Under a democrat administration, the federal response is incompetent, the extreme chaos stays confined to the cities, and power reverts to states and localities by necessity. The blue stains effectively burn themselves from our electoral maps. Under a GOP administration, the chaos is muted, but the consequences of the hard choices that need to be swallowed leads to a hard left lurch from which we will never recover.

Posted by: FRONT TOWARD LEFT at August 05, 2011 02:22 PM (cbyrC)

231 Sounds like we need to start looking up "political donations" from S&P

Posted by: Shiggz at August 05, 2011 02:24 PM (v8Pb8)

232 45.8 million on food stamps....

wow, that is a national disgrace.

Just ran a calculator for food stamps.
Used pretty meager income and expenses.
Came up with 200$ a month, for one person.

Well let's see, 25 bucks will buy you 50 lbs of rice.
30 bucks gets you 50lbs pinto beans.
50lbs rice + 50lbs beans = 2000 calories a day for 77 days.
with 100 dollars for fruits and vegetables for needed vitamins.

I don't think we are requiring those who are on the public dole to make the tough decisions they need to learn to make in order to get them self sufficient.

Posted by: MikeTheMoose at August 05, 2011 02:24 PM (0q2P7)

233 Well the republicans can introduce the "reset" bill. It really doesn't have to be a long bill, just a few lines. "henceforth, only the present congress may set a budget and said budget must be within the constraints of the previous year's tax revenue and henceforth and forevermore, no congress is bound by the legacy spending of any previous congress"

love,

boehner and cantor

Posted by: curious at August 05, 2011 02:25 PM (k1rwm)

234 "This gets me back to the will/means argument. The left has the will but not the means to annihilate the right. The right has the means but not the will. "

So true, you would think after all these years with the ability to wipe them out and us not doing it no matter how many times they beat us bears with sticks they would realize they are the dangerous animal... That requires self awareness of which they have none, at least when it comes to us.

Posted by: Shiggz at August 05, 2011 02:27 PM (v8Pb8)

235 No one else in the world is prepared or able to take over the US economy's position as driver of the world. No one.

No, but, the EU can get together with OPEC, China, and Japan and decide to make a new reserve currency that is special, kind of like the old trade silver dollars, that is not commonly held money that a sovereign can run rampant with, but a world bank currency, that each sovereign must convert into. A pseudo gold standard. And trust me, they have been kicking the idea around given how fast and loose we've been playing with our currency.

Once that happens, the US dollar would loose sway so fast it wouldn't be funny.

Posted by: MikeTheMoose at August 05, 2011 02:29 PM (0q2P7)

236 well some market players are rooting for a down grade and some aren't.....

I'm wondering if this is a head fake?

Posted by: curious at August 05, 2011 02:29 PM (k1rwm)

237 Mike, that was a modified Froma quote. Should have socked it.

Posted by: cherry π at August 05, 2011 02:30 PM (OhYCU)

238 Posted by: MikeTheMoose at August 05, 2011 06:29 PM (0q2P7)

oddly enough someone is posting a scenario similar to that on the prophecies.us site. Only they are adding the UN and Russia and China and a mess for the US.

The reason you would read that site is that often someone with real information will go on that site a week ahead of some revelation and discuss it there on that site.

It's too funny, just cause you read a site for entertainment people think you believe in psychics.

Posted by: curious at August 05, 2011 02:33 PM (k1rwm)

239

213: If QE3 happens, the decline of the US dollar as the reserve will only accelerate.

Posted by: johnc_recent_EXdem at August 05, 2011 06:13 PM (ACkhT)

Well......now that's the whole point, isn't it???

Bwahaha.....Bwahaha....Bwahaha!!!

Posted by: George Soros at August 05, 2011 02:33 PM (fGbHT)

240 Mike, that was a modified Froma quote. Should have socked it.

OOOOOPS

Posted by: MikeTheMoose at August 05, 2011 02:33 PM (0q2P7)

241 241 This gets me back to the will/means argument. The left has the will but not the means to annihilate the right. The right has the means but not the will.

Under a democrat administration, the federal response is incompetent, the extreme chaos stays confined to the cities, and power reverts to states and localities by necessity. The blue stains effectively burn themselves from our electoral maps.

Under a GOP administration, the chaos is muted, but the consequences of the hard choices that need to be swallowed leads to a hard left lurch from which we will never recover.

I am not so sure the left does not have the means, but perhaps they disguise that by being loud. Also, I agree about the will of the Republicans, though a number of them (lawmakers) have finally realized that Obama is evil, but not enough. Though the Republican response to liberals has been slowly changing since the Tea Party and other conservatives have been holding the Dems more accountable for their actions. Either way, though, this is a hard choice to make and nothing is guaranteed. I would like to believe you are right, but so many times we have seen tyranny borne of anarchy even after periods of infighting between leftists.

Posted by: 80sBaby at August 05, 2011 02:34 PM (o2lIv)

242 Just to make sure everyone remembers how much of a low-down miserable cocksucker John Kerry is, here's something from last December.

"But I hope Americans will understand how craven and empty and hollow and contradictory the republican position is."

Craven is claiming to be forced to do something by the minority party in both chambers of Congress.

Posted by: Circa (Insert Year Here) at August 05, 2011 02:35 PM (7utQ2)

243 have you guys come up with a new name for the tea party, since it seems logical that it will be co opted by the dems like it was in the colliseum fight?

Posted by: curious at August 05, 2011 02:36 PM (k1rwm)

244 Let's try that again:

253 241 I am not so sure the left does not have the means, but perhaps they disguise that by being loud. Also, I agree about the will of the Republicans, though a number of them (lawmakers) have finally realized that Obama is evil. The Republican response to liberals has been slowly changing since the Tea Party and other conservatives have been holding them (Republicans) more accountable for their actions, though not as quickly as is needed.

Either way (Democrat or Republican ownership), this is a hard choice to make and nothing is guaranteed. I would like to believe you are right, but so many times we have seen tyranny borne of anarchy even after periods of infighting between leftists.

Posted by: 80sBaby at August 05, 2011 02:38 PM (o2lIv)

245 "I would like to believe you are right, but so many times we have seen tyranny borne of anarchy even after periods of infighting between leftists." I actually hope that I am wrong because if we hit the collapse after next years' elections and the GOP is in power, then there will be no period of infighting between leftists. The only hope then would be for the GOP to dismantle the federal government, and I do not trust them to do so.

Posted by: FRONT TOWARD LEFT at August 05, 2011 02:41 PM (cbyrC)

246 Right it was coopted by the democrats. Because its obvious that a group opposed to tax increases would need to be coopted to oppose a tax increase. Poor curious, not able to get other people to pay for stuff for her.

Posted by: buzzion at August 05, 2011 02:47 PM (oVQFe)

247 258 "I would like to believe you are right, but so many times we have seen tyranny borne of anarchy even after periods of infighting between leftists."

I actually hope that I am wrong because if we hit the collapse after next years' elections and the GOP is in power, then there will be no period of infighting between leftists. The only hope then would be for the GOP to dismantle the federal government, and I do not trust them to do so.

As for the last point, the primary problem with the Congress of the Bush years is that it was Republican, not conservative. We have more conservatives in leadership and committee chairmanships (mostly in the House) and (obviously) rank-and-file members now, but we can only stem the tide until 2012. What needs to be done is that we do house-cleaning in the Senate, send reinforcements to the House in areas where that can be done and hold the line in other places, and fight for a conservative presidential nominee. That does not mean they will do everything that is necessary, but they would be more trustworthy in managing the decline. As for the leftists, if a conservative government governs in crisis mode, they will turn on each other. The entire scenario is far from being a given but it's worth a try.

Posted by: 80sBaby at August 05, 2011 02:52 PM (o2lIv)

248 "As for the leftists, if a conservative government governs in crisis mode, they will turn on each other." I'm sorry, but I do not see that happening. The democrat leadership is evil, and the MSM is on their side. As soon as times get difficult. they will be able to rally their groups in opposition to "the man" if we have a GOP POTUS.

Posted by: FRONT TOWARD LEFT at August 05, 2011 03:01 PM (cbyrC)

249 We will know more about how this will play out over the course of the next few months. All I know is that it is out of my hands, at least for the time being.

Now I am going to do something relaxing because I am incredibly tense.

Posted by: 80sBaby at August 05, 2011 03:09 PM (o2lIv)

250 CNN 7pm covering the S&P downgrade - says at 1:30 pm S&P contacted the WH.

Shouldn't they have formally notified the markets?

Aren't there some disclosure laws covering this? Did anyone (ahem Soros) profit off of this insider knowledge?

Posted by: cherry π at August 05, 2011 03:19 PM (OhYCU)

251 That's OK. We''ll jusy buy a few points for a lower interest rate and bury that fee in the principal every time we need to borrow money. It's not like we're planning on ever paying back anything besides interest, right?

Posted by: Barry-O Super Financial Genius at August 05, 2011 03:23 PM (wAQA5)

252

The neighbors dog ate his transcripts.

Posted by: torabora at August 05, 2011 03:27 PM (Mvp1M)

253 Popping-in for just a moment:

@JohnJHarwood- Source: S&P acknowledged computational error; S&P either revising rationale or deciding not to downgrade.

Posted by: 80sBaby at August 05, 2011 03:31 PM (o2lIv)

254 jaketapper Jake Tapper Government official: S+P was off by "roughly $2 trillion" 7 minutes ago

Posted by: 80sBaby at August 05, 2011 03:45 PM (o2lIv)

255 Guess Obama's warnings of audits and visits from union mermbers didn't do the job.

Posted by: Molon Labe at August 05, 2011 06:50 PM (g5MrG)

256 Kindle DRM Removal for Mac is designed for Mac users to remove DRM protection from Kindle .AZW files on Mac OS X (Lion, Snow Leopard, Leopard).

Posted by: Bob at August 06, 2011 02:14 AM (QqFgb)

257 I just cant stop reading this. Its so cool, so full of information that I just didnt know. Im glad to see that people are actually writing about this issue in such a smart way, showing us all different sides to it. Youre a great blogger. Please keep it up. I cant wait to read whats next.

Posted by: Eating the Dinosaur Audiobook at August 06, 2011 10:22 PM (X1M4g)

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