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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Bill who wrote (55328)	8/15/2011 10:43:20 PM
From: DuckTapeSunroof	1 Recommendation Read Replies (1) \| Respond to of 103300

In S&Ps downgrade report they cited, as one of the main reasons for their downgrade, their conclusion that Congress would NOT let the Bush tax cuts expire on schedule at the end of 2012... and then they went on at length about the fiscal impact this would have... hugely increasing the federal deficits in the out years and justifying S&Ps downgrade of US's credot rating. And the CEO of S&P explained this quite fully in the video he released on the Monday following their Friday after-market-close downgrade. (Bill, you really should get out a bit more....)

To: Bill who wrote (55328)	8/15/2011 11:03:13 PM
From: DuckTapeSunroof	1 Recommendation Read Replies (1) \| Respond to of 103300

"What is your view on S&P asking America to raise taxes on the rich to stabilize rating?" "S&P stated there should have been more tax revenue...." "Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place," the company said. "We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the [debt ceiling deal]." abcnews.go.com answers.yahoo.com John Chambers S&P Head Explains Why They ... youtube.com S&P: Republicans Almost Entirely To Blame For ... youtube.com S&P Explains Rating Downgrade. John Chambers, the ratings head for S&P, explains why the company downgraded the US credit rating from AAA to AA+. (Aug. 6) youtube.com youtube.com bloomberg.com cnbc.com S&P: Why we downgraded the US money.cnn.com Cantor Acknowledges S&P's Warnings On Taxes, But Urges Colleagues To Ignore Them selectsmart.com S&P Does Not Believe The Bush Tax Cuts Will Get Lifted In 2012 Read more: businessinsider.com ABC News reports: “A government official tells ABC News that the federal government is expecting and preparing for bond rating agency Standard & Poor’s to downgrade the rating of US debt from its current AAA value.” Among the reasons cited will be “Republicans saying that they refuse to accept any tax increases as part of a larger deal.” etc.