S&P takes US hostage - sets stage for next new deal rollback kabuki

[whatchamacallit]

http://www.rawstory.com/rs/2011/08/05/u-s-said-to-be-bracing-for-debt-rating-downgrade/

According to the first official, the reasons given for the downgrade will include "the political confusion surrounding the process of raising the debt ceiling, and lack of confidence that the political system will be able to agree to more deficit reduction."

Well we just can't have a US rating downgrade, we have no choice but to chop away more entitlements! What a con.

[originalpckelly]

1. I heard the guy on the news: He specifically talked about RAISING taxes.

They're just worried people won't be able to pay back the debt.

[Ruby the Liberal]

2. Actually, that isn't their problem - its taxes

The concern S&P is expressing is that they don't think Congress is capable of raising taxes, which their models state is critical.

[leveymg]

3. Who made S&P God? Who voted to put S&P in charge of the USG? Send SEAL Team 6 to this address:

55 Water St
New York, NY 10041
[phone]

http://www.google.com/maps/vt/data=Ay5GWBeob_WIPLDYoIWcfVXxvZu9XwJ55OX7Ag,SuvF1Kus5Vi8Ws1D_h5-v8mNU-eahOhHvdGQitmGpZTOD8BMMxx4NmZ8k3rlyvtFxvegsgliWbJ2fjKB00WKlS6BSxO5VxAPwZOfAi3hF_Z4upOON3TfetfOOm428piPcSg4WQ

[Poll_Blind]

5. First the Tea Party, then S&P- everyone wants a piece!

PB

[Ruby the Liberal]

6. You do realize that they are making the case for increasing revenues, right?

That is the problem they have with the deal. It is austerity without tax increases and they know that is going to hurt the economy.

[whatchamacallit]

11. That's part of their stated rationale

but I can almost guarantee the downgrade will be used to justify more cuts, not revenue increases.

[sabrina 1]

4. Someone must have had a little talk with them, I think I just

heard that they are 'rethinking' their rating. That MUST mean the rich would be affected more than we would be.

But then, who cares about their ratings anyhow, as they too deserved to be prosecuted for the role they played in the Great American Treasury Heist. Seems there is no one awake at the DOJ these days.

[Poll_Blind]

7. I think there was just a raid in Italy which might have something to do with it.

If it pans out, I'll post more. Something about raids on the offices of that organization in Italy. Don't put much stock in it, like I said I'll have to pull up more info.

PB

[sabrina 1]

8. A raid on the offices of S&P rating agency? That would be good

news, maybe the beginning of going after the criminals. But I realize you don't have all the facts yet, just dreaming! :-)

[Poll_Blind]

9. Actually, OMG, you have to see this. Looks like it's because of some colossal fuckup on S&P's part:

HERE

THIS IS NOT A JOKE

:wtf:

PB

[sabrina 1]

10. Okay, now I don't know what to think.

If, as stated in a comment above, the ratings were because they did not like lack of tax revenues, and I am not sure that is the case, then who would lose by their ratings?

Need to look around for more info on this ...

[flamingdem]

12. They were on teevee blabbing about how we must cut 4 TRILLION NOW morans, can't do basic math!!! nt