They could do it for the reasons they SAID they did it: They’re becoming less certain that the US government will in fact pay off its debts because of two things that they mentioned:
The amount of debt has become a significant fraction of the GNP (something about like that)
and
the way GOP has been using the debt ceiling as a bludgeon makes them worry that at some point, the US will in fact default because they aren’t ALLOWED to do otherwise.
Problem would be fixed if you diverted republican salaries to paying off the debt as they blocked the bill to raise the debt ceiling. Make them pay to play.
Thank the debt to three times Reaganomics as the tax burden shifted downward. The solution is obvious, and the corporate state will fight it to the bitter end. Remember the god said in 1981 that one trillion was too much debt, and he had the solution?
Well, if the GOP hadn’t started 3 unfunded wars and provided at least two major unfunded tax cuts (2003 and 2017), We wouldn’t have this problem. It’s about time everyone learned that TRICKLE DOWN tax policies DON’T WORK!!!!!
The biggest increase to the nation’s debt in living memory was W Bush’s Medicare prescription drugs program.Dems did not object.
Where was the cartoon from Ramirez when Trump was adding 8 trillion dollars to the debt by sending out checks to everyone as long as it had his signature on it.
“Erosion of Governance: In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025. The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management. In addition, the government lacks a medium-term fiscal framework, unlike most peers, and has a complex budgeting process. These factors, along with several economic shocks as well as tax cuts and new spending initiatives, have contributed to successive debt increases over the last decade. Additionally, there has been only limited progress in tackling medium-term challenges related to rising social security and Medicare costs due to an aging population. "
Dubya Bush had the solutions and we should have listened to him. When there was a deficit, he said cut taxes to stimulate the economy. When there was a surplus, he said cut taxes to give back the people’s money.
I’m glad to see Mike proposing drastic cuts to the military and social security. Nothing will get Rs elected faster than paying down the debt by not spending on defense or spending on entitled R boomers.
“Free Stuff” is such an ignorant and misinformed attempt at finding a cause.
It let’s the Congress off the hook. It fails to recognize the actual reason stated by the rating agency. How our current policies and procedures fail to create a stable budget and destabilizes the economy.
It fails to take into account Congress’ failure to establish a progressive tax which establishes a reasonable corporate tax.
It divides Congress politically, giving parties an excuse to blame the other, rather than forcing them to accept reality.
It ignores the “Free Stuff” given to corporations and focuses on cuts to individuals.
The United States of America is a powerful nation, with vast resources. We should NOT be in this ridiculous situation. We’re like the little old lady, with a big fat bank account, holding up the line at the grocery store, arguing about expired coupons and counting out the change from her purse one penny at a time.
We should be using our wealth and power to build a strong, stable future, creating an economy that encourages BOTH corporate and individual growth.
“Free Stuff” is an investment, Michael. It is like fertilizer which will make the economy grow rich and prosper.
We need a Flat Tax on gross income. No deductions, no nothing. Just a flat tax. Everyone should pay, from the richest to the poorest. Nobody should live in this Country for free. If you have 12 kids, that’s your problem. Flat tax on gross income. I’m not sure what it would be, but I’m sure some of those geniuses out there can come up with a number. While I am throwing out things that will never happen….how about term limits?
Yep, free stuff. For the banks, for corporations, for military contractors, for the oil companies, and most especially for the billionaires. And remember to give a few crumbs to the people.
I do believe Mr Ramirez knows a big part of the downgrading to AA+ is because:
“The agency had placed the country’s rating on negative watch in May, citing the debt ceiling fight in Washington.“The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management,” Fitch said.
Magas in Congress are extreme. They would prefer watching the country go up in flames than to work with the Democrats. When there is a conservative president, the republicans have no problem. When there is a Democratic president… no way.
Well, one of the reasons given for the credit downgrade was “poor governance”. RWNJs are doing EVERYTHING POSSIBLE to prevent the Biden Administration from accomplishing anything, and the largest part of the downgrade can be laid at their feet, I think. Remember, there are 147 stupid, arrogant, opportunistic Trumpublican goons in Congress who put on daily clown shows to be sure as little as possible governance is done.
In response to the lies and half truths spouted in the above posts by you delusional and desperate liberals regarding former President Reagan, I would like to remind you that in the 1984 Presidential election he carried 49 states. You can’t spin this in your usual fashion. And to watch the corrupt Schiff blabber about there being no evidence to support a Biden impeachment when for 7 years and 30,000,000 dollars+ he tried to rid us of Trump with no evidence other than a bunch of phony lies. You morons enjoy your fun now because it is soon to be over.
Conservative Cartoonists lay it all at the feet of the White House when in fact the downgrade was attributed to the inability of either party to come together long enough to tackle the countries issues.
For those of us who have been around a while, the ‘debt threat’ has been with us for at least the last half century of Congress-watching. It is standard practice to use the power of the purse to rein in what the opposing party views as excessive or inappropriate spending. I remember it going on when I was military- we were told that if it were not resolved, we would not get paid.
It was always resolved. These incidents are mostly theater to get public attention for the spending excesses of public monies by whichever party is in power at the moment. Anyone rating US spending practices either knows this, or is incompetent, or has motives they are not mentioning.
The U.S. credit rating was downgraded for the first time in history in 2011 because of the ridiculous nonsense from the Repubs refusing to raise the debt ceiling. That is the problem again.
Trump / Repub tax cuts for the wealthy passed in 2017 added TRILLIONS to the debt/deficit. But the Repubs were happy to raise the debt ceiling THREE times while Trump occupied the White House not that Biden is the president, the Repubs go back to blocking raising the debt ceiling. According to Cheney, “deficits don’t matter” but he didn’t state that this only applies when the president is a Repub.
well all you need do is read the statement Fitch wrote when they downgraded US credit to AA from AAA. They said at the time it was due to the House republicans attempt to force the US to default on the debt ceiling
The truth is Speaker McCarthy simply wanted to freeze spending levels where they were the year before, and then have increases at a slower level than what the leftists wanted. All roads of doom lead back to the leftists.https://www.reuters.com/world/us/whats-republican-mccarthys-debt-limit-spending-cut-package-2023-04-19/
Erse IS better 11 months ago
They could do it for the reasons they SAID they did it: They’re becoming less certain that the US government will in fact pay off its debts because of two things that they mentioned:
The amount of debt has become a significant fraction of the GNP (something about like that)
and
the way GOP has been using the debt ceiling as a bludgeon makes them worry that at some point, the US will in fact default because they aren’t ALLOWED to do otherwise.Flashaaway 11 months ago
Problem would be fixed if you diverted republican salaries to paying off the debt as they blocked the bill to raise the debt ceiling. Make them pay to play.
VegaAlopex 11 months ago
Thank the debt to three times Reaganomics as the tax burden shifted downward. The solution is obvious, and the corporate state will fight it to the bitter end. Remember the god said in 1981 that one trillion was too much debt, and he had the solution?
GOGOPOWERANGERS 11 months ago
Who said its free?
Yet you willing for billionaires to pay basically the same as someone at the lowest income
baroden Premium Member 11 months ago
Well, if the GOP hadn’t started 3 unfunded wars and provided at least two major unfunded tax cuts (2003 and 2017), We wouldn’t have this problem. It’s about time everyone learned that TRICKLE DOWN tax policies DON’T WORK!!!!!
The Dem Veteran 11 months ago
The biggest increase to the nation’s debt in living memory was W Bush’s Medicare prescription drugs program.Dems did not object.
Where was the cartoon from Ramirez when Trump was adding 8 trillion dollars to the debt by sending out checks to everyone as long as it had his signature on it.
bwhitmore 11 months ago
What do people expect? The Republicans slashed the revenue, and now they’re surprised by the debt going up?
fusilier 11 months ago
From:
https://www.fitchratings.com/research/sovereigns/fitch-downgrades-united-states-long-term-ratings-to-aa-from-aaa-outlook-stable-01-08-2023
“Erosion of Governance: In Fitch’s view, there has been a steady deterioration in standards of governance over the last 20 years, including on fiscal and debt matters, notwithstanding the June bipartisan agreement to suspend the debt limit until January 2025. The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management. In addition, the government lacks a medium-term fiscal framework, unlike most peers, and has a complex budgeting process. These factors, along with several economic shocks as well as tax cuts and new spending initiatives, have contributed to successive debt increases over the last decade. Additionally, there has been only limited progress in tackling medium-term challenges related to rising social security and Medicare costs due to an aging population. "
emphases mine
fusilier
James 2:24
NeoconMan 11 months ago
Dubya Bush had the solutions and we should have listened to him. When there was a deficit, he said cut taxes to stimulate the economy. When there was a surplus, he said cut taxes to give back the people’s money.
So that can’t at all be why we’re in this mess.
The Nodding Head 11 months ago
That ain’t it.
brit-ed 11 months ago
That’s not why they downgraded the US and you know it…
Vidrinath Premium Member 11 months ago
I’m glad to see Mike proposing drastic cuts to the military and social security. Nothing will get Rs elected faster than paying down the debt by not spending on defense or spending on entitled R boomers.
Durak Premium Member 11 months ago
“Free Stuff” is such an ignorant and misinformed attempt at finding a cause.
It let’s the Congress off the hook. It fails to recognize the actual reason stated by the rating agency. How our current policies and procedures fail to create a stable budget and destabilizes the economy.
It fails to take into account Congress’ failure to establish a progressive tax which establishes a reasonable corporate tax.
It divides Congress politically, giving parties an excuse to blame the other, rather than forcing them to accept reality.
It ignores the “Free Stuff” given to corporations and focuses on cuts to individuals.
The United States of America is a powerful nation, with vast resources. We should NOT be in this ridiculous situation. We’re like the little old lady, with a big fat bank account, holding up the line at the grocery store, arguing about expired coupons and counting out the change from her purse one penny at a time.
We should be using our wealth and power to build a strong, stable future, creating an economy that encourages BOTH corporate and individual growth.
“Free Stuff” is an investment, Michael. It is like fertilizer which will make the economy grow rich and prosper.
bob 11 months ago
Here are US deficits & debt over the last 10 years as reported by the Federal Reserve. https://fred.stlouisfed.org/series/FYFSD
https://fred.stlouisfed.org/series/FYGFD
Ignatz Premium Member 11 months ago
The debt increases under Republicans because they oppose the US paying its bills.
The yell “support the troops” – but oppose PAYING them.
Zebrastripes 11 months ago
Do as we say not as we do…the GOP motto!
hooglah 11 months ago
We need a Flat Tax on gross income. No deductions, no nothing. Just a flat tax. Everyone should pay, from the richest to the poorest. Nobody should live in this Country for free. If you have 12 kids, that’s your problem. Flat tax on gross income. I’m not sure what it would be, but I’m sure some of those geniuses out there can come up with a number. While I am throwing out things that will never happen….how about term limits?
Cerabooge 11 months ago
Yep, free stuff. For the banks, for corporations, for military contractors, for the oil companies, and most especially for the billionaires. And remember to give a few crumbs to the people.
Kurtass Premium Member 11 months ago
The ones begging for “free stuff”, are the deadbeats that don’t want to pay taxes.
Radish the wordsmith 11 months ago
They downgraded our credit rating because fanatical republicans threaten default if they don’t get everything they want.
The world recognizes republicans for the anti freedom threat that they are and does not trust them.
librarylady59 11 months ago
I do believe Mr Ramirez knows a big part of the downgrading to AA+ is because:
“The agency had placed the country’s rating on negative watch in May, citing the debt ceiling fight in Washington.“The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management,” Fitch said.
https://www.cnbc.com/2023/08/01/fitch-downgrades-us-long-term-ratings-to-aa-from-aaa.html
Magas in Congress are extreme. They would prefer watching the country go up in flames than to work with the Democrats. When there is a conservative president, the republicans have no problem. When there is a Democratic president… no way.
casonia2 11 months ago
Well, one of the reasons given for the credit downgrade was “poor governance”. RWNJs are doing EVERYTHING POSSIBLE to prevent the Biden Administration from accomplishing anything, and the largest part of the downgrade can be laid at their feet, I think. Remember, there are 147 stupid, arrogant, opportunistic Trumpublican goons in Congress who put on daily clown shows to be sure as little as possible governance is done.
Al Fresco 11 months ago
Please do not tilt the White House any further to the left.
Zoturdley Premium Member 11 months ago
In response to the lies and half truths spouted in the above posts by you delusional and desperate liberals regarding former President Reagan, I would like to remind you that in the 1984 Presidential election he carried 49 states. You can’t spin this in your usual fashion. And to watch the corrupt Schiff blabber about there being no evidence to support a Biden impeachment when for 7 years and 30,000,000 dollars+ he tried to rid us of Trump with no evidence other than a bunch of phony lies. You morons enjoy your fun now because it is soon to be over.
ChristopherBurns 11 months ago
Ah, the good ’ol stuff lie. Brought out when ever the Right has nothing else to offer.
What free stuff? Where can I get free some?
Radish the wordsmith 11 months ago
What free stuff? You mean the covid checks with Trump’s name on them?
Another Take 11 months ago
Conservative Cartoonists lay it all at the feet of the White House when in fact the downgrade was attributed to the inability of either party to come together long enough to tackle the countries issues.
Galaxina 11 months ago
For those of us who have been around a while, the ‘debt threat’ has been with us for at least the last half century of Congress-watching. It is standard practice to use the power of the purse to rein in what the opposing party views as excessive or inappropriate spending. I remember it going on when I was military- we were told that if it were not resolved, we would not get paid.
It was always resolved. These incidents are mostly theater to get public attention for the spending excesses of public monies by whichever party is in power at the moment. Anyone rating US spending practices either knows this, or is incompetent, or has motives they are not mentioning.
Have a great day!
imagenesis 11 months ago
If the U.S. tries to apply for a new credit card, it would probably be rejected!
Rich Douglas 11 months ago
What “free stuff”?
Grandma Lea 11 months ago
they want to attack entitlements, isn’t their pay an entitlement, they sure as hell have not earned it doing the job they were elected to do.
Nantucket Premium Member 11 months ago
The U.S. credit rating was downgraded for the first time in history in 2011 because of the ridiculous nonsense from the Repubs refusing to raise the debt ceiling. That is the problem again.
Trump / Repub tax cuts for the wealthy passed in 2017 added TRILLIONS to the debt/deficit. But the Repubs were happy to raise the debt ceiling THREE times while Trump occupied the White House not that Biden is the president, the Repubs go back to blocking raising the debt ceiling. According to Cheney, “deficits don’t matter” but he didn’t state that this only applies when the president is a Repub.
timbob2313 Premium Member 11 months ago
well all you need do is read the statement Fitch wrote when they downgraded US credit to AA from AAA. They said at the time it was due to the House republicans attempt to force the US to default on the debt ceiling
My First Premium Member 11 months ago
The truth is Speaker McCarthy simply wanted to freeze spending levels where they were the year before, and then have increases at a slower level than what the leftists wanted. All roads of doom lead back to the leftists.https://www.reuters.com/world/us/whats-republican-mccarthys-debt-limit-spending-cut-package-2023-04-19/