U.S. credit rating downgraded....THANKS POLITICIANS!

[Texas Dan Mosby]

First time in history.

Thanks to the socialists, the spineless "conservatives", and the leeches in society, we are now well on our way to becoming Haiti.....

[Beiruty]

The solution to the deficit should be:
1) Immediately cut spending by 1/5 of deficit some $300 billions
2) Raise taxes by 1/5 of deficit some $300 billions
3) Raise debt ceiling by $2T.
4) Keep cut spending until budget is balanced in 2015-2016.
5) Run surplus of 1% GDP year over year and surplus above 1% of GDP reduce taxation. 1% would go into reserve/reduction of debt.

In absence for plan to go back in to black is what is fiscally irresponsible and leads to US debt credit downgrade.

[cheezit]

we have been well on are way for a long time comming. now its just official.

[puma guy]

WOW! Who would've thought?

[The Mad Moderate]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

[puma guy]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

The Real Estate House of Cards that started all this belongs to BOTH Parties.

[chasfm11]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

An interesting observation. So the Standard and Poors comment that the recent deal fell short of the $4T amount that they were looking for means nothing? The fact that the spending above the income has accelerated over the past 3 years means nothing?

The fact is that BOTH parties are at fault because both have been spending like drunken sailors for a long time. This is not now nor has it been an either/or between the parties.

If the Tea Party representatives had not attempted to curb spending (and achieved only a modicum of success with it), we would have an even higher debt limit and an opportunity for more spending and further downgrades by S&P

What is needed is a governmental Dave Ramsey. When our borrowing exceeds our GDP, that is unsustainable. I'm glad that someone at S&P was able to act like an an adult and point that out. Now if those in leadership in the US would simply take the cue and start reducing spending, we might have a chance of righting the sinking ship of State. S&P rightly says that the problem is more about ideology than responsible adult behavior. All players need to figure that out, too.

And no, I'm not defending S&P. They were in the mortgage backed securities debacle up to their necks, too. I don't trust their accounting any more than I trust what is happening financially in Washington. But if this is what it takes to start in a different direction, so be it.

[magillapd]

I will be doing my part to help business through this tough time. I will be stocking up on ammo and non parishable foods. This honestly can't be good and since it's never happened before, nobody knows what the final outcome is going to be.

[Blindref757]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

You say this because Socialism has such a great track record, right?

Seriously...this demagoguery is exactly the problem. It isn't the Tea Party's fault, it isn't the Republicans, and it isn't all the Democrats fault. Both Republicans and Democrats are guilty of spending us into oblivion.

Please come to the realization that our problems are big and the solution is going to be painful...for EVERYONE!!! There must be cuts in ALL programs and departments...military, social security, medicare, education, arts, healthcare, etc. NOTHING IS IMMUNE OR OFF THE TABLE...including a complete overhaul of the tax system which might include both a flat tax rate and a national sales tax. We will not survive as a republic with over 50% of the folks not paying any taxes...and receiving some sort of public assistance. If that is the case, we should be having a new constitutional convention and re-defining who we are as a nation...because we sure as heck aren't a capitalist republic right now and looking forward under the current disgrace in Washington. There isn't a free lunch...even for Progressives.

[The Annoyed Man]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

I don't think so. Democrats had MORE than their fair share in driving the debt up to this point.

[The Annoyed Man]

First time in history.

Thanks to the socialists, the spineless "conservatives", and the leeches in society, we are now well on our way to becoming Haiti.....

A link is good: http://www.washingtonpost.com/business/ ... print.html

[The Mad Moderate]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

I don't think so. Democrats had MORE than their fair share in driving the debt up to this point.

I think the GOP infected the wound that was this whole debt debate, if revenues were raised it likely would have prevented this downgrade. The GOP held the debt ceiling hostage and used it as a weapon. This led to massive uncertainty and shook the markets, if this vote was done as the 100 or so before it there would not have been the uncertainty that led to this downgrade.

[DEB]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

You say this because Socialism has such a great track record, right?

Seriously...this demagoguery is exactly the problem. It isn't the Tea Party's fault, it isn't the Republicans, and it isn't all the Democrats fault. Both Republicans and Democrats are guilty of spending us into oblivion.

Please come to the realization that our problems are big and the solution is going to be painful...for EVERYONE!!! There must be cuts in ALL programs and departments...military, social security, medicare, education, arts, healthcare, etc. NOTHING IS IMMUNE OR OFF THE TABLE...including a complete overhaul of the tax system which might include both a flat tax rate and a national sales tax. We will not survive as a republic with over 50% of the folks not paying any taxes...and receiving some sort of public assistance. If that is the case, we should be having a new constitutional convention and re-defining who we are as a nation...because we sure as heck aren't a capitalist republic right now and looking forward under the current disgrace in Washington. There isn't a free lunch...even for Progressives.

[The Mad Moderate]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

You say this because Socialism has such a great track record, right?

Seriously...this demagoguery is exactly the problem. It isn't the Tea Party's fault, it isn't the Republicans, and it isn't all the Democrats fault. Both Republicans and Democrats are guilty of spending us into oblivion.

Please come to the realization that our problems are big and the solution is going to be painful...for EVERYONE!!! There must be cuts in ALL programs and departments...military, social security, medicare, education, arts, healthcare, etc. NOTHING IS IMMUNE OR OFF THE TABLE...including a complete overhaul of the tax system which might include both a flat tax rate and a national sales tax. We will not survive as a republic with over 50% of the folks not paying any taxes...and receiving some sort of public assistance. If that is the case, we should be having a new constitutional convention and re-defining who we are as a nation...because we sure as heck aren't a capitalist republic right now and looking forward under the current disgrace in Washington. There isn't a free lunch...even for Progressives.

I am hardly a socialist don't use your petty insults to try and gloss over the facts.

[Right2Carry]

I would like to thank the Tea Party, the GOP and the Republican Party as a whole. Thanks a bunch.

I don't think so. Democrats had MORE than their fair share in driving the debt up to this point.

I think the GOP infected the wound that was this whole debt debate, if revenues were raised it likely would have prevented this downgrade. The GOP held the debt ceiling hostage and used it as a weapon. This led to massive uncertainty and shook the markets, if this vote was done as the 100 or so before it there would not have been the uncertainty that led to this downgrade.

Actually you are wrong. S&P wanted 4 trillion in cuts and didn't get anywhere near that. If our government would quit spending money they don't have and start reducing the over-bloated pig, then this wouldn't even be up for discussion. You should be thanking the Tea Partiers for at least getting some cuts on the board.

Answer me this. Why are democrats afraid of a constitutional amendment that would require a balanced budget?