Oh Crap! US Credit Rating Downgraded!!!! And it had nothing to do with the republicans threatening to shutdown the government, no not at all, had everything to do with the out of...

Blurryeyed Loc: NC Mountains.

And it had nothing to do with the republicans threatening to shutdown the government, no not at all, had everything to do with the out of control spending of the Federal Government and the fact that they refuse with the never ending debt trajectory that their out of control spending has put this country on.

https://www.cnn.com/2023/08/01/business/fitch-downgrade-us-debt/index.html

DaveO Loc: Northeast CT

Those darned Pubs and Dems!

DennyT Loc: Central Missouri woods

From the article

representatives from Fitch Ratings repeatedly highlighted the J****** 6th i**********n as a significant concern as it relates to US governance, a person familiar with the matter told CNN.

And

“”” Fitch said the decision wasn’t just prompted by the latest debt ceiling standoff but rather “a steady deterioration in standards of governance over the last 20 years” regarding “fiscal and debt matters.”
“””

And from Reuters
https://www.reuters.com/markets/us/fitch-decision-cut-us-credit-rating-based-deteriorating-governance-polarization-2023-08-02/

Nothing to get very excited about S&P do the same thing 12 years ago ( AAA to AA)

“You have the debt ceiling, you have J*** 6. Clearly, if you look at polarization with both parties ... the Democrats have gone further left and Republicans further right, so the middle is kind of falling apart basically," Francis said, adding "we don't fault one party or the other for the fiscal situation.”

Both highlighted the political polarization .

Blurryeyed Loc: NC Mountains.

DennyT wrote:

From the article br br b representatives from F... (show quote)

J** 6th seems to be your wet dream, the government was never seriously under threat. Even had the worst happened that day the government would have been taken back within 24 hours.... The so called threat to our democracy is totally an exaggeration of the threat posed that day.

DennyT Loc: Central Missouri woods

Blurryeyed wrote:

J** 6th seems to be your wet dream, the government was never seriously under threat. Even had the worst happened that day the government would have been taken back within 24 hours.... The so called threat to our democracy is totally an exaggeration of the threat posed that day.

Let’s not get off track - I merely quoted the article you posted
And provided further info on the subject with a bit better rep than CNN

Triple G

DennyT wrote:

Let’s not get off track - I merely quoted the article you posted
And provided further info on the subject with a bit better rep than CNN

US government has gone toward government shutdowns too many times and current House looks like it will go there again...markets don't like unpredictability.

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

https://www.axios.com/2023/08/02/fitch-downgrade-us-rating

https://fortune.com/2023/08/02/economists-fitch-credit-ratings-downgrade-us/

DennyT Loc: Central Missouri woods

Triple G wrote:

US government has gone toward government shutdowns too many times and current House looks like it will go there again...markets don't like unpredictability.

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

https://www.axios.com/2023/08/02/fitch-downgrade-us-rating

https://fortune.com/2023/08/02/economists-fitch-credit-ratings-downgrade-us/

What’s the single event in the last two years that is different?
We have had near shut downs before. We have debt ceiling arguments before. We had deficit spending before?

What is different.
In 2009 - prior to 2011 S&P down grade American financial system was on verge of collapse
In 2021 we had a serious danger to our system of government.

The articles - blurries(cnn) and mine ( Reuters) both highlighted that and the political division we face.

Triple G

DennyT wrote:

What’s the single event in the last two years that is different?
We have had near shut downs before. We have debt ceiling arguments before. We had deficit spending before?

What is different.
In 2009 - prior to 2011 S&P down grade American financial system was on verge of collapse
In 2021 we had a serious danger to our system of government.

The articles - blurries(cnn) and mine ( Reuters) both highlighted that and the political division we face.

They do...but this seems to be coming only from one source and is getting downplayed by many as being anything with much impact; although the market showed jitters today.

https://www.investmentnews.com/advisors-take-us-debt-downgrade-in-stride-more-to-do-with-politics-than-economic-stability-240652

Shutterbug1697 Loc: Northeast

Blurryeyed wrote:

And it had nothing to do with the republicans threatening to shutdown the government, no not at all, had everything to do with the out of control spending of the Federal Government and the fact that they refuse with the never ending debt trajectory that their out of control spending has put this country on.

https://www.cnn.com/2023/08/01/business/fitch-downgrade-us-debt/index.html

It's because of trump's involvement in the I**********n at the US Capitol Building on J****** 6, 2021!

Shutterbug1697 Loc: Northeast

Blurryeyed wrote:

J** 6th seems to be your wet dream, the government was never seriously under threat. Even had the worst happened that day the government would have been taken back within 24 hours.... The so called threat to our democracy is totally an exaggeration of the threat posed that day.

Not seriously under threat?

Read the indictment!

https://www.msnbc.com/deadline-white-house/deadline-legal-blog/full-text-trump-indictment-pdf-jack-smith-j***6-2020-e******n-rcna96030

Blurryeyed Loc: NC Mountains.

Libs, just nuts.... No, Biden's spending over $6 trillion had nothing to do with it.

Hey, have a clue for you nutballs, Trump has been out of office for 2 1/2 years now.

Blurryeyed Loc: NC Mountains.

DennyT wrote:

What’s the single event in the last two years that is different?
We have had near shut downs before. We have debt ceiling arguments before. We had deficit spending before?

What is different.
In 2009 - prior to 2011 S&P down grade American financial system was on verge of collapse
In 2021 we had a serious danger to our system of government.

The articles - blurries(cnn) and mine ( Reuters) both highlighted that and the political division we face.

One does not have to use much of their brain to understand that there was no serious threat to our government in 2021, just what do you think would have actually happened if Trump's ill-advised plan had worked Denny, just how long do you think it would have taken for Trump to have been escorted under armed guard from the White House? Our so called democracy was never in jeopardy.

Shutterbug1697 Loc: Northeast

Blurryeyed wrote:

One does not have to use much of their brain to understand that there was no serious threat to our government in 2021, just what do you think would have actually happened if Trump's ill-advised plan had worked Denny, just how long do you think it would have taken for Trump to have been escorted under armed guard from the White House? Our so called democracy was never in jeopardy.

Read the indictment!

https://www.msnbc.com/deadline-white-house/deadline-legal-blog/full-text-trump-indictment-pdf-jack-smith-j***6-2020-e******n-rcna96030

Blurryeyed Loc: NC Mountains.

Shutterbug1697 wrote:

Read the indictment!

https://www.msnbc.com/deadline-white-house/deadline-legal-blog/full-text-trump-indictment-pdf-jack-smith-j***6-2020-e******n-rcna96030

Just more BS, hey I bet Smith loses on that one... He may win in DC and he may win on a corrupt appeal but it will go to SCOTUS and he will probably lose a second time 9-0 last time it was 8-0 only because Scalia was dead.

Shutterbug1697 Loc: Northeast

Blurryeyed wrote:

Just more BS, hey I bet Smith loses on that one... He may win in DC and he may win on a corrupt appeal but it will go to SCOTUS and he will probably lose a second time 9-0 last time it was 8-0 only because Scalia was dead.

Read the indictment!