S&P has downgraded U.S.A credit rating from AAA to AA+

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Black Arrow Officer

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Jun 20, 2011
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Thank you tea party! You always know what's best for the American people. The CEO's hoarding billions should be completely untouched while the price of living continues to soar for the rest of America. And thank you inept monkeys of the American government for completely failing to provide an even remotely efficient plan to fix our growing debt. Oh well, we should just blame Obama.
 

Soviet Heavy

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Jan 22, 2010
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Hurray! Oh wait, that's a bad thing right? I know you Americans are in a bad debt crisis, but can you give me the laymans version?
 

JustJuust

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Mar 31, 2011
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I kind of saw this coming. Hopefully people of the USA start being more interested in their own government, and finally have enough sense to stop supporting the tea party. Honestly, people in their right minds should never support the tea party.
 

Aidinthel

Occasional Gentleman
Apr 3, 2010
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(This probably belongs in Religion and Politics.)

Well it isn't as though we didn't see this coming. It's only a reflection of the economic reality we're all aware of by now.
 

viranimus

Thread killer
Nov 20, 2009
4,952
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Yeah. Saw it coming. Hell cant even blame them for doing it.

Its going to be fun watching the fireworks.

Seriously a blindfolded mentally challenged chimp could fix this problem, yet the US had yet another "11th hour" crisis that narrowly dodged the bullet. So how was the governmental credit bureaus supposed to react?
 

CosmicCommander

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Apr 11, 2009
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Black Arrow Officer said:
Thank you tea party! You always know what's best for the American people. The CEO's hoarding billions should be completely untouched while the price of living continues to soar for the rest of America. And thank you inept monkeys of the American government for completely failing to provide an even remotely efficient plan to fix our growing debt. Oh well, we should just blame Obama.
It's not the Tea Party's fault. Yet it's not Obama's. To blame anyone in particular is stupid- the entire debt scenario stems back to Woodrow Wilson, and it's been encouraged and continued since. The recent crises was due to everyone posturing. And even if the Democrats had their way, this would have happened.

And don't get started on the "OH TAX THE RICH DAMN THEY LIVE BETTER THAN US BECAUSE THEY OWE US FOR THE FACT THEY EXIST"- let's remember the stupidity of wiping assets away from people who are the ones who create employment and wealth- and let's observe the stupidity of the taxmen and regulators on making businesses hesitant to set up in the states.
 

Kryzantine

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Feb 18, 2010
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CosmicCommander said:
Black Arrow Officer said:
Thank you tea party! You always know what's best for the American people. The CEO's hoarding billions should be completely untouched while the price of living continues to soar for the rest of America. And thank you inept monkeys of the American government for completely failing to provide an even remotely efficient plan to fix our growing debt. Oh well, we should just blame Obama.
It's not the Tea Party's fault. Yet it's not Obama's. To blame anyone in particular is stupid- the entire debt scenario stems back to Woodrow Wilson, and it's been encouraged and continued since. The recent crises was due to everyone posturing. And even if the Democrats had their way, this would have happened.
If the Democrats had their way and this happened, the Republicans would have fucking creamed them once this news broke out.

But we got deep flaws in our political system when it took that fucking long to cut the political bickering and agree on a damned deal. Whatever happened to doing the damned job?
 

Kargathia

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Jul 16, 2009
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Soviet Heavy said:
Hurray! Oh wait, that's a bad thing right? I know you Americans are in a bad debt crisis, but can you give me the laymans version?
Rating agencies essentially rate how risky it is to lend money to a country. More risk means that lenders want it to be more attractive for them to lend money, so they charge more interest.
("Risk" simply means "the chance they can't pay the loan back in 10 years")

Downgrading from AAA to AA+ essentially means that lending money to the US isn't considered "extremely safe" anymore, just "very safe", so the US will have to pay more interest over the money it borrows from now on.

More interest means more costs, means a bigger deficit, means more debt is added to the pile every year, means bad.

Disclaimer: I did simplify things a bit here, so please don't flame me over my economics.
 

JourneyMan88

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Jun 30, 2009
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There's simply not enough room here to explain what went wrong. Even though I'm registered republican, I put the blame entirely on their shoulders, starting with Boehner, and working down from there. Their refusal to budge on taxes on the rich, what they coin "job-creators" to throw the middle class off the scent that they really "campaign-donors" is a large part of the problem. We also need to pull out of our 5 wars (started by the previous administration), bring our troops home and put what we can into our crumbling infrastructure.
 

comicjk

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Mar 1, 2010
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CosmicCommander said:
To blame anyone in particular is stupid- the entire debt scenario stems back to Woodrow Wilson, and it's been encouraged and continued since.
This is an example of the tea party illogic that people are complaining about. The quality of US bonds hasn't fallen because the US can't pay - with its comparatively low tax rates, the US has a lot of scope to raise more money if it's really needed. Instead, the quality of bonds has fallen because the US might not want to pay. Before the tea party, this possibility seemed remote. The debt ceiling crisis has made it all too real, and Americans (now facing higher interest rates) will suffer for it.
 

RatRace123

Elite Member
Dec 1, 2009
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Well... shit. Not all that unexpected, but still sucks. Not much the average person can do about it though, just gotta hope it gets better, or at least not any worse.
 

Kargathia

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Jul 16, 2009
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comicjk said:
CosmicCommander said:
To blame anyone in particular is stupid- the entire debt scenario stems back to Woodrow Wilson, and it's been encouraged and continued since.
This is an example of the tea party illogic that people are complaining about. The quality of US bonds hasn't fallen because the US can't pay - with its comparatively low tax rates, the US has a lot of scope to raise more money if it's really needed. Instead, the quality of bonds has fallen because the US might not want to pay. Before the tea party, this possibility seemed remote. The debt ceiling crisis has made it all too real, and Americans (now facing higher interest rates) will suffer for it.
I wouldn't be entirely ready yet to only blame the Tea Party, when it's quite evident that all across the board there is little to no support, and even less political will for raising taxes.

Other than that I'd say it's a fairly accurate summary of a very complicated subject.

SirBryghtside said:
If the dollar fails, does that mean American games will be cheaper over here?

And just in time for the Skyrim CE!
I wouldn't be so sure of that, as often they seem perfectly happy to only change the currency sign on the price tag.
 

CosmicCommander

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Apr 11, 2009
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Kryzantine said:
If the Democrats had their way and this happened, the Republicans would have fucking creamed them once this news broke out.
What, like how the Democrats like the OP are creaming the Repubs?

As I said, it's a issue that has nothing to do with parties, just individual politicians and modern world history; but those who like to make it a partisan issue (ie 97.857254888% of all commentators on the internet, TV, radio, newspapers, and books who ever make a commentary on politics ever) will pounce on it like dogs.

But we got deep flaws in our political system
It took you that long to realise the US Political System is just bureaucracy and bullshit?

/clap

when it took that fucking long to cut the political bickering and agree on a damned deal. Whatever happened to doing the [damned job?
Politicians.

Do job.

Sir, you speak nonsense. Everyone knows it's more likely that Canada will annex Cambodia due to the general being a dudebro.

comicjk said:
This is an example of the tea party illogic that people are complaining about.
Damn, they have already got anti-Tea Party terminology spewing out.

The quality of US bonds hasn't fallen because the US can't pay - with its comparatively low tax rates, the US has a lot of scope to raise more money if it's really needed. Instead, the quality of bonds has fallen because the US might not want to pay. Before the tea party, this possibility seemed remote. The debt ceiling crisis has made it all too real, and Americans (now facing higher interest rates) will suffer for it.
I was saying that the need to raise the debt ceiling stems right back to Woodrow Wilson- when the US government first began to spend more than it collected in Tax Revenues, hence, the origins of the need to regularly raise the debt ceiling.

The Cadet said:
Tell me-which party insisted that the debt ceiling issue be tied with budget reform?
Heck, I never said any sides weren't dicks about it. Neither were wanting to compromise. And, to be honest, despite my disagreements about the time (considering the US has a very fragile recovery that a slash in spending will risk) and the lack of foresight (you can't slash a deficit without tax increases, yes) and the fact the plan will do nothing (it'll be spread over a few years, and just decrease marginally the rate the deficit will grow)- I do commend the Tea Party for bringing to the public eye the problem with the US's chequebook.

Alright, so both sides are incompetent buffoons. IT'S POLITICS!
 

Zantos

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Jan 5, 2011
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How many trillions of dollars does the American national debt come to? I doubt anyone else could get so far in and remain a country.
 

Kargathia

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Jul 16, 2009
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Zantos said:
How many trillions of dollars does the American national debt come to? I doubt anyone else could get so far in and remain a country.
You wouldn't even notice if you'd add or remove a few digits. It's in the realms of "freakin much, and not getting smaller either".
 

CosmicCommander

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Apr 11, 2009
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Zantos said:
How many trillions of dollars does the American national debt come to? I doubt anyone else could get so far in and remain a country.
Have it in Real Time! [http://www.usdebtclock.org/]
 

ecoho

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Jun 16, 2010
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Kryzantine said:
CosmicCommander said:
Black Arrow Officer said:
Thank you tea party! You always know what's best for the American people. The CEO's hoarding billions should be completely untouched while the price of living continues to soar for the rest of America. And thank you inept monkeys of the American government for completely failing to provide an even remotely efficient plan to fix our growing debt. Oh well, we should just blame Obama.
It's not the Tea Party's fault. Yet it's not Obama's. To blame anyone in particular is stupid- the entire debt scenario stems back to Woodrow Wilson, and it's been encouraged and continued since. The recent crises was due to everyone posturing. And even if the Democrats had their way, this would have happened.
If the Democrats had their way and this happened, the Republicans would have fucking creamed them once this news broke out.

But we got deep flaws in our political system when it took that fucking long to cut the political bickering and agree on a damned deal. Whatever happened to doing the damned job?
i dont know what your talking about we dont have democrats or republicans anymore we just have liberals and conservatives. Right now what we need is a real fucking democrat or republican (think Teddy Roosevelt or Thomas Jefferson) its the only way we will turn this around
 

Twilight_guy

Sight, Sound, and Mind
Nov 24, 2008
7,131
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Oh Congress, you last second bastards. (Actually why the heck did this happen, politicians can take things far to prove a point but actually letting this happen is bad).
 

Zantos

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Jan 5, 2011
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Kargathia said:
Zantos said:
How many trillions of dollars does the American national debt come to? I doubt anyone else could get so far in and remain a country.
You wouldn't even notice if you'd add or remove a few digits. It's in the realms of "freakin much, and not getting smaller either".
This is so true, it had already accumulated far more than everyone else anyway, however...

CosmicCommander said:
Zantos said:
How many trillions of dollars does the American national debt come to? I doubt anyone else could get so far in and remain a country.
Have it in Real Time! [http://www.usdebtclock.org/]
Haha that's amazing. Fuck me, I'm no economist but I could have sworn it started off about 7 trill. I love how it's colour coded. I also love how if Greece even went to a debt remotely measurable against that it'd lose it's status as a government,