Archive for credit rating

Cartoons of the Day- Credit Rating Blues

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Via.

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Video- Fox's Steve Doocy: "What [Obama] Really Inherited From George Bush Was A Triple-A Credit Rating"

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Ugh.

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VIDEO-BLUNT: How Crazy Is the Tea Party Congress?

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Blunt is a lot like letters to the editor. YOUR take, short, to the point.

You have a voice, now use it.

This webisode of Blunt comes with special instructions. Every time Rep. Joe Walsh pops up, the text at the bottom changes slightly. You have to be quick, or pause the video, to catch it.

Also, a special thanks to voice actor extraordinaire D.C. Douglas for graciously allowing me to use clips from his amazing video, "Tea Party! America Thanks You!"

For more information about how to contribute to Blunt, follow this link.

It’s your turn. Go.

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VIDEO: Apparently Allen West didn't read the S & P release

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Allen West, had you even bothered to read the Standard and Poors release, you'd have seen this (via Think Progress):

It appears that for now, new revenues have dropped down on the menu of policy options. [...]

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 act.

Then again, what else would we expect from someone who claims it's “socialist” to recognize the (ever-growing) gap between rich people and the rest of the country, fought to defund Planned Parenthood, called Rep. Debbie Wasserman-Schultz the most vile, unprofessional and despicable member of the US House of Representatives, and had my friend and radio host Nicole Sandler arrested for committing democracy?

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Going DOWn: Dow closes at -632

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To repeat, John Boehner got 98% of what he wanted. Going DOWn:

Go "job creators"! USA! USA!

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VIDEO: President Obama Talks About Markets and Downgrade on Black Tea Monday

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Via @suburubu:

The phrase "Black Tea Monday" courtesy of @Marnus3. U.S. credit has been downgraded, the Dow has plummeted and the President has spoken:

H/t: @ReasonVsFear

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Standard and Poors hands the White House some talking points

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Here are a couple of things that Standard and Poors said about the reasons for their credit rating downgrade. Via Greg Sargent.

The political brinksmanship of recent months highlights what we see as America’s governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. [...]

It appears that for now, new revenues have dropped down on the menu of policy options.

Ding!

Much of the blame is placed squarely on GOP behavior, talking points, and policy. It is they who pushed us to the eleventh hour. It is they who played dangerous games by repeatedly walking away from negotiations, by refusing to even consider raising taxes on the wealthy and corporations, by using the debt ceiling as a political club, by putting this nation through unnecessary stress, and by acting like economic terrorists.

There's a lot more to the S and P report, but let's concentrate on what the White House would hopefully consider using as talking points, starting with what I've posted a couple of times now:

Mitch McConnell and his conservative pals openly admitted to 1) making President Obama a one-termer a primary goal, and 2) political terrorism in the form of hostage-taking:

I think some of our members may have thought the default issue was a hostage you might take a chance at shooting. Most of us didn’t think that. What we did learn is this – it’s a hostage that’s worth ransoming. And it focuses the Congress on something that must be done.”

– Senate Minority Leader Mitch McConnell (R-KY), quoted by the Washington Post, on the debt ceiling negotiations.

Greg boils it down:

[A]t at the outset of this fight, [the White House] repeatedly insisted that a “clean” debt ceiling hike was preferable for the good of the country [...]

[I]t’s still a matter of fact that the embrace of the debt ceiling as a weapon for policy ends is a primary reason S & P downgraded the U.S. credit rating. That seems like a rather important part of the story, wouldn’t you say? Will someone ask McConnell whether he stands by his claims in light of the S & P report?

Mitch? ... Mitch?.... Bueller?

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