Bidenomics: US credit worthiness downgraded

T. A. Gardner

T. A. Gardner

Serial Thread Killer
It's largely because Republicans have been telling the financial markets they are going to hold the U.S. debt hostage

On Tuesday, Fitch Ratings cut the U.S. debt by one notch, from AAA to AA+, partly in response to how the federal government handled the debt crisis two months ago. That move mirrored a similar downgrade by S&P in 2011, also following a debt ceiling standoff in Congress.

https://www.npr.org/2023/08/02/1178215888/fitch-downgrade-credit-rating-deficits-debt-economy
Click to expand...
 
T. A. Gardner said:
For only the second time in modern history, the US has had their creditworthiness downgraded. The first time was in April 2011 by Standard and Poor during the Obama administration. The second, was four days ago by Fitch Ratings.

https://www.fitchratings.com/resear...ings-to-aa-from-aaa-outlook-stable-01-08-2023

https://www.washingtonexaminer.com/...msn&utm_medium=referral&utm_campaign=msn_feed

Smoke and mirrors notwithstanding, Democrats are bad for the economy...
Click to expand...

"But on Tuesday, Fitch Ratings cut the U.S. debt by one notch, from AAA to AA+, partly in response to how the federal government handled the debt crisis two months ago. That move mirrored a similar downgrade by S&P in 2011, also following a debt ceiling standoff in Congress.

"Fitch cited alarm over the country's deteriorating finances and expressed major doubts about the government's ability to tackle the growing debt burden because of the sharp political divisions, exemplified by the brinkmanship over the debt ceiling that brought the government close to a disastrous default."

https://www.npr.org/2023/08/02/1178215888/fitch-downgrade-credit-rating-deficits-debt-economy

Actually, the economy is strong. Job growth, unemployment, and wages are all healthy.

https://www.cnbc.com/2023/08/04/jobs-report-july-2023-187000-jobs-in-july.html

Democrats are not bad for the economy. Partisan politics caused the credit downgrade. Your rabid partisanship exemplifies this.
 
T. A. Gardner said:
For only the second time in modern history, the US has had their creditworthiness downgraded. The first time was in April 2011 by Standard and Poor during the Obama administration. The second, was four days ago by Fitch Ratings.

https://www.fitchratings.com/resear...ings-to-aa-from-aaa-outlook-stable-01-08-2023

https://www.washingtonexaminer.com/...msn&utm_medium=referral&utm_campaign=msn_feed

Smoke and mirrors notwithstanding, Democrats are bad for the economy...
Click to expand...

Due to debt, and Biden alone is not responsible, in fact, your Messiah set records for a President adding to the debt in only one term, plus the right’s icon, Reagan, was the President that started the “deficits don’t count” mentality, so don’t try to tell us the GOP is good for the economy
 
archives said:
Due to debt, and Biden alone is not responsible, in fact, your Messiah set records for a President adding to the debt in only one term, plus the right’s icon, Reagan, was the President that started the “deficits don’t count” mentality, so don’t try to tell us the GOP is good for the economy
Click to expand...

It didn't happen under Trump's watch did it?

It happened under Biden's.

He's responsible for it.

Blaming past presidents is a cop out.

If the economy is doing as great as the democrats tell us then we wouldn't have been downgraded.
 
Our credit downgrade didn’t happen in a vacuum. It’s the result of the actions of two political party’s and the voters who enable them.

Each ‘side’ blaming the other is lazy and quite frankly ignorant as it does nothing to address why this occurred. We (voters) want our cake and to eat it too and politicians give us what we want.
 
cawacko said:
Our credit downgrade didn’t happen in a vacuum. It’s the result of the actions of two political party’s and the voters who enable them.

Each ‘side’ blaming the other is lazy and quite frankly ignorant as it does nothing to address why this occurred. We (voters) want our cake and to eat it too and politicians give us what we want.
Click to expand...

The actions of one. Period.
 
T. A. Gardner said:
For only the second time in modern history, the US has had their creditworthiness downgraded. The first time was in April 2011 by Standard and Poor during the Obama administration. The second, was four days ago by Fitch Ratings.

https://www.fitchratings.com/resear...ings-to-aa-from-aaa-outlook-stable-01-08-2023

https://www.washingtonexaminer.com/...msn&utm_medium=referral&utm_campaign=msn_feed

Smoke and mirrors notwithstanding, Democrats are bad for the economy...
Click to expand...

It's actually historical fact that since the '80s, Republicans crash the economy & leave it in shambles, and Democrats bring it back.
 
Concart said:
The actions of one. Period.
Click to expand...

One person did not cause the U.S. to be tens of trillions in debt. One person did not cause our spending to be at unsustainable levels. Trying to blame others is simply a tactic to excuse our own behavior and responsibility.
 
Concart said:
The actions of one. Period.
Click to expand...

I’ll throw this out there as well. How often in recent times have we heard the argument “debt is cheap so it doesn’t hurt us to borrow so much”? Did people really think we could have ZIRP and easy money forever? (I guess the latter is a rhetorical question)

More and more money is going to have to go to service our debt and that crowds out a lot of other needs
 
cawacko said:
One person did not cause the U.S. to be tens of trillions in debt. One person did not cause our spending to be at unsustainable levels. Trying to blame others is simply a tactic to excuse our own behavior and responsibility.
Click to expand...

Nope. This downgrade was the result of two things. Debt ceiling and the disastrous possibility that Donald Trump could be president. One party and one party only owns this downgrade. And if trump gets a whiff of the white house you can kiss our credit rating goodbye. I’m tired of the pussyfooting. Republicans are literally trying to destroy this country.
 
Concart said:
Nope. This downgrade was the result of two things. Debt ceiling and the disastrous possibility that Donald Trump could be president. One party and one party only owns this downgrade. And if trump gets a whiff of the white house you can kiss our credit rating goodbye. I’m tired of the pussyfooting. Republicans are literally trying to destroy this country.
Click to expand...

Bullshit....this was caused by America's collapse and the world being done with our constantly exporting war and other misery.
 
Diesel said:
"But on Tuesday, Fitch Ratings cut the U.S. debt by one notch, from AAA to AA+, partly in response to how the federal government handled the debt crisis two months ago. That move mirrored a similar downgrade by S&P in 2011, also following a debt ceiling standoff in Congress.

"Fitch cited alarm over the country's deteriorating finances and expressed major doubts about the government's ability to tackle the growing debt burden because of the sharp political divisions, exemplified by the brinkmanship over the debt ceiling that brought the government close to a disastrous default."

https://www.npr.org/2023/08/02/1178215888/fitch-downgrade-credit-rating-deficits-debt-economy

Actually, the economy is strong. Job growth, unemployment, and wages are all healthy.

https://www.cnbc.com/2023/08/04/jobs-report-july-2023-187000-jobs-in-july.html

Democrats are not bad for the economy. Partisan politics caused the credit downgrade. Your rabid partisanship exemplifies this.
Click to expand...

cawacko said:
One person did not cause the U.S. to be tens of trillions in debt. One person did not cause our spending to be at unsustainable levels. Trying to blame others is simply a tactic to excuse our own behavior and responsibility.
Click to expand...

This is Con Artist you're talking to, bullshitter extraordinaire.
 
Diesel said:
"But on Tuesday, Fitch Ratings cut the U.S. debt by one notch, from AAA to AA+, partly in response to how the federal government handled the debt crisis two months ago. That move mirrored a similar downgrade by S&P in 2011, also following a debt ceiling standoff in Congress.

"Fitch cited alarm over the country's deteriorating finances and expressed major doubts about the government's ability to tackle the growing debt burden because of the sharp political divisions, exemplified by the brinkmanship over the debt ceiling that brought the government close to a disastrous default."

https://www.npr.org/2023/08/02/1178215888/fitch-downgrade-credit-rating-deficits-debt-economy

Actually, the economy is strong. Job growth, unemployment, and wages are all healthy.

https://www.cnbc.com/2023/08/04/jobs-report-july-2023-187000-jobs-in-july.html

Democrats are not bad for the economy. Partisan politics caused the credit downgrade. Your rabid partisanship exemplifies this.
Click to expand...

cawacko said:
I’ll throw this out there as well. How often in recent times have we heard the argument “debt is cheap so it doesn’t hurt us to borrow so much”? Did people really think we could have ZIRP and easy money forever? (I guess the latter is a rhetorical question)

More and more money is going to have to go to service our debt and that crowds out a lot of other needs
Click to expand...

The Progressive Left aka Modern Marxists like Bernie Sanders, AOC etc. believe passionately in Modern Monetary Theory.

Warren Buffett Hates It. AOC Is for It. A Beginner’s Guide to Modern Monetary Theory

https://www.bloomberg.com/news/feat...lsrc=aw.ds&in_source=embedded-checkout-banner
 
T. A. Gardner said:
For only the second time in modern history, the US has had their creditworthiness downgraded. The first time was in April 2011 by Standard and Poor during the Obama administration. The second, was four days ago by Fitch Ratings.

https://www.fitchratings.com/resear...ings-to-aa-from-aaa-outlook-stable-01-08-2023

https://www.washingtonexaminer.com/...msn&utm_medium=referral&utm_campaign=msn_feed

Smoke and mirrors notwithstanding, Democrats are bad for the economy...
Click to expand...

That they are.
 
Cypress said:
It's largely because Republicans have been telling the financial markets they are going to hold the U.S. debt hostage
Click to expand...

No, Sock. It's because the debt is currently $32.6 trillion and the government has no way to pay it off. It is because just SERVICING this debt will soon be a bigger budget item then the ENTIRE MILITARY BUDGET.
 
T. A. Gardner said:
For only the second time in modern history, the US has had their creditworthiness downgraded. The first time was in April 2011 by Standard and Poor during the Obama administration. The second, was four days ago by Fitch Ratings.

https://www.fitchratings.com/resear...ings-to-aa-from-aaa-outlook-stable-01-08-2023

https://www.washingtonexaminer.com/...msn&utm_medium=referral&utm_campaign=msn_feed

Smoke and mirrors notwithstanding, Democrats are bad for the economy...
Click to expand...

It's because of the Republicans holding the US hostage over the debt ceiling. It's the trumptard's fault, not Bidens - but I think you know that.
 
You must log in or register to reply here.
Back
Top