President Obama to Talk to Press at 1pm

The world, more specifically our creditors, have been on to the BS for a couple years now. People dismissed the notion of getting rid of the dollar as the reserve currency, saying it will never happen. Those same people said the US would never be downgraded.

People think this is the start of something bad...but we are down further in the rabbit hole than people realize.

Arguing over which side of Congress is "right" on the situation is the ultimate sign of ignorance. What Congress does or doesn't do at this point means nothing.
 
We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade.

Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability.

http://blogs.wsj.com/marketbeat/2011/08/05/sp-downgrades-u-s-debt-rating-press-release/
 
Glad we are looking at donating 100 million to Somalia...

http://hosted.ap.org/dynamic/stories/A/AF_EAST_AFRICA_FAMINE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-08-08-10-58-31


God damn it.
 
spending less, raising taxes, cutting entitlement programs, etc = ALL of this neeRAB to be done - not some, not only "your party's" side, ALL of it
 
and wow bros, do you want the man to say America sucks? hes the fucking president, of course hes going to try and say pro-american things, wtf else would the president of america say?
 
Read the shit you even quoted. They refused all tax increases which are clearly a reason we were downgraded.

Reading comprehension, how does it work?
 
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